Marketing Mix - 4Ps of Marketing Mix - 1219 Words

Marketing mix can be describes as the use and specification of the 4 Ps describing the strategic position of a product in the marketplace†¦ A prominent person to take centre stage was E. Jerome McCarthy in 1960; he proposed a four-P classification which was popularized. (wikipedia.com) The marketing mix approach to marketing is a model of creating and implementing market strategies. The marketing mix stresses the mixing of different factors in a way that both organizational and consumer or target markets objectives are attained. The 4 Ps of marketing are Product, Place, Promotion and Price. Each plays a key factor in the overall successful marketing of a product or service. ProductAlthough this typically refers to a physical product, it†¦show more content†¦One very successful company that I thought of that had the 4 Ps of marketing down packed was Netflix. The company almost singlehandedly brought its competitors to their knees. These companies, including Blockbuster video have since recovered and began offering a similar service, but Netflix had it all planned out and rolled out so efficiently that it really caught everyone by surprise. ProductNetflix is a little tricky when it comes to the product. Their product isnt a product at all, but a service that it provides for its customers. It offers the service of movie rentals, but in a more convenient way than the traditional movie rental stores such as Blockbuster or Hollywood Videos. I know personally that I didnt always have time to return a movie on the day it was due back, which was usually only 2 days after renting it, so I paid a lot of late fees. These late fees often times added up to almost as much as actually just purchasing a movie, which steered me away from even renting movies in the first place. Around 1999 Netflix came up with an online movie subscription with no late fees. This gave people the convenience of receiving the movies they wanted to see right in their mailbox. No more having to go searching through the isle for a movie that was already rented out. PlaceNetflix doesnt offer a place where a customer can come pickup their order, instead everything gets conveniently shipped to each customer viaShow MoreRelatedThe 4p Classification of the Marketing Mix Revisited1201 Words   |  5 PagesThe 4P s Classification of the Marketing Mix Revisited This article, addresses the prime classifications scheme in marketing, the 4P configuration of the marketing mix. The marketing discipline needs a strong classification of the marketing mix, not only to stimulate conceptual integration and purification of the discipline, but also for meaningful measurement of marketing mix efforts and their effects. 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