Marketing Communications Has Expanded Immeasurably in Importance Literature Review Chapter

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Marketing communications has expanded immeasurably in importance since the 1950s and a variety of concepts have been developed since then. Their function is to use promotional techniques to underpin and support brand identity and to move products and services forward into the hands of the paying consumer recipients.

My essay focuses on the following marketing communications concepts: "Marketing Mix and the 4P's of Marketing" and "Marketing Mix and the 4C's of Marketing). Marketing Mix: Marketing Mix is a marketing concept introduced by Neil H. Borden

, in his American marketing Association presidential address in 1953. It is an integrated set of marketing "tactics" to realize organizational objectives and create a closer higher relationship between companies and customers.

The selection of a target market leads the marketers to focus their activities towards profitability of the target segment. For this purpose they need to manipulate many variables. Such variables were named "Marketing Mix." It is a framework designed to help companies structure their approach to each market and can be best circumscribed as "a set of marketing tools that a company uses to pursue its marketing objectives in the target market."

Since the introduction of the marketing mix concept the question has continuously been: What is the best mix? Two main conceptual approaches have emerged over time: "The Marketing Mix and the 4 P's" and "Marketing Mix and the 4 C's."

Marketing Mix and the 4 Ps: Traditional marketing theory and execution relies on the "4 P's." In 1960 E.

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Jerome McCarthy

proposed a classification of marketing mix in 4 areas (4 P's) as per the needs and preferences of the specific target market. Since then marketing managers around the world have become familiar with them. The methodology of the 4 P's concept is to look at how each aspect of marketing is seen by the company. The 4 objective of the 4 P "s concept is to blend four product-centered elements McCarthy regarded to be the most important for companies' to look at to create the "right" marketing mix. Businesses have to meet the following conditions: The right product: quality, features, style, brand, packaging, warranties etc.; sold at the right price: list price, discount, payment period, credit terms and also the "switching cost" -- the cost (time, money, effort) of changing to/from a different product or service; in the right place: distribution channels, market coverage, locations, inventory, supply chain logistics; using the most suitable promotion factors: advertising, sales promotion, public relations. Moving away from the jargon, the 4P's simply mean:

Product -- what is it and what does it do? Price -- how much does it….....

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"Marketing Communications Has Expanded Immeasurably In Importance" (2011, August 21) Retrieved April 28, 2024, from
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"Marketing Communications Has Expanded Immeasurably In Importance", 21 August 2011, Accessed.28 April. 2024,
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