Marketing Mix Essay

2201 Words 9 Pages
Marketing Mix

Has today's dominant marketing mix paradigm become a strait-jacket?
A relationship building and management approach may be the answer. The marketing mix management paradigm has dominated marketing thought, research and practice since it was introduced almost 40 years ago. Today, this paradigm is beginning to lose its position. New approaches have been emerging in marketing research. The globalization of business and the evolving recognition of the importance of customer retention and market economies and of customer relationship economics, among other trends, reinforce the change in mainstream marketing. Relationship building and management, or what has been labelled relationship marketing, is one leading new approach to
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Relationship building and management are found to be an underlying facet in the research into these areas. Relationship marketing is suggested as one new marketing paradigm, and a number of consequences for marketing and management of a relationship-type marketing strategy is discussed based on the notion of a marketing strategy continuum. Finally, the possibility of building a general theory of marketing based on the relationship approach is examined. A further discussion of the nature of the relationship marketing paradigm is, however, beyond the scope of this report. Marketing Mix and the Four Ps Marketing the way most textbooks treat it today was introduced around 1960. The concept of the marketing mix and the Four Ps of marketing - product, price, place and promotion - entered the marketing textbooks at that time. Quickly they also became treated as the unchallenged basic model of marketing, so totally overpowering previous models and approaches, such as, for example, the organic functionalist approach advocated by Wroe Alderson as well as other systems-oriented approaches and parameter theory developed by the Copenhagen School in Europe that these are hardly remembered, even with a footnote in most textbooks of today. Earlier approaches, such as the commodity , functional ,

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