The 4P marketing mix concept is it still valid?

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The basis of effective business are appropriate marketing activities. Depending on the company's goals, market and characteristics of the target group, they can be conducted in many different ways. Many companies base their strategy on the so-called marketing mix. What is the traditional 4P marketing mix concept? And does it still work in today's market? What is marketing mix? Marketing activities not bringing results? The traditional 4P marketing mix concept The concept of marketing mix in the modern world What is marketing mix? In the Encyclopedia of Management we can read that the marketing mix, also known as  the marketing composition.

Interrelated elements (activities, processes, methods and techniques) used in the enterprise and creating a jointly integrated system of influencing the market environment of the enterprise (customers, competitors)”. In other words, these are inseparable elements thanks to which the company can increase demand for its products by influencing the market in a specific way. There are Australia Phone Number List versions of the marketing mix. One of the most basic, and at the same time most popular, is the 4P model. What is the 4P marketing mix concept? And is it still valid? Marketing activities not bringing results? Maybe it's time to change your strategy? We offer effective solutions! Enter your email address and we will contact you.

The traditional 4P marketing mix concept 4P is the oldest marketing mix concept, proposed by McCarthy. The name of the model comes from 4 words in English: product, price, promotion, place. Product The first - and key - element of the 4P concept is the product, i.e. the physical goods produced by the company. It should be considered in 4 different categories: market, technical and technological, location among other offers and life cycle. The product must fulfill specific basic and additional functions. It should also fully meet customer expectations. When analyzing it, it is worth taking into account its quality, packaging, image and value.