What Is 4ps Is Still Credible Model Or It Requires Replacement

1033 Words Nov 30th, 2014 5 Pages
McCarthy’s 4Ps is a widely used fundamental concept of a marketing mix. The purpose of this essay is to discuss whether 4Ps is still credible model or it requires replacement. However, at first it is important to look at elements of the model and its significance in marketing practice. Secondly, it is vital to recognise numerous changes that took place and shaped the entire concept of marketing. Subsequently it is crucial to look at critiques of the model and alternatives suggested by different theorists as well as the role of those models in modern marketing practice. It is also necessary to recognise whether these models have been accepted by marketers or not and what were the reasons behind.

According to Kotler et.al. (2008, p.49), marketing mix is “the set of controllable tactical marketing tools that the firm blends to produce the response it wants in the target market”. It benefits the company in different ways by separating marketing from other activities of the business, making it easy to plan and manage the entire process of marketing and passing on marketing tasks to professionals. (Grönroos, 1994 in Goi, 2009). Palmer (2004 cited in Goi, 2009) suggests that marketing mix could be used to develop both long-term strategies and short-term tactical programmes.

The idea of the marketing mix was first introduced by James Culliton in 1948, however the founder of the 4Ps framework illustrated in Figure 1 is considered to be Jerome McCarthy who introduced those iconic…

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