Marketing Mix

The Marketing Mix

Mc . Donald 's case

12 /8 /2008

[Type the company name] INTRODUCTION -

Marketing has become one of the frontline verticals of a business in recent times . The term marketing generally refers to activities that are associated with promotion of products their advertising and also making decisions related to pricing packaging and management of distribution networks . Marketing has evolved from a profit and sales oriented approach to a consumer oriented activity . Consumer satisfaction has become a pivotal point around which all marketing activities revolve p

In the 1960s , Professor Neil Bordon from the Harvard Business School gave the breakthrough concept of marketing mix . Later in 1975 , McCarthy identified the `4P model ' of marketing mix . The 4p 's were identified as product , price , place and promotion Since the formulation of the idea , the 4Ps are considered as the foundation of the development of any marketing plan and also the basis of any marketing strategy . Even though new variables have been added to the 4Ps and the 7P concept (4P process , physical and people ) has become prevalent , still the 4P concept is the most common and most popular because of its worldwide acceptance as well as the prime importance of the variables that are included

The marketing mix basically refers to the combination of the 4Ps (or 7Ps ) that will be used in the marketing strategy developed for any product or service . This combination does depend on the company specific needs , characteristics and the objectives that the organization wishes to achieve...