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Marketing: Difference between revisions
+ Expanding on w:marketing mix + expansion to 7 p's from 4 p's + 2 refs
(sourcing better new definition for w:marketing strategy + 2 sources) |
(+ Expanding on w:marketing mix + expansion to 7 p's from 4 p's + 2 refs) |
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* '''[[w:Marketing mix]]''' a.k.a. the '''[[w:4P's]]''' ( product, price, place, promotion ) | * '''[[w:Marketing mix]]''' a.k.a. the '''[[w:4P's]]''' ( product, price, place, promotion ) | ||
:: The '''[[w:marketing mix|marketing mix]]''' is a business tool used in [[marketing|marketing]] and by marketers. The marketing mix is often crucial when determining a product or brand's offer, and is often associated with the '''four P's''': ''price'', ''product'', ''promotion'', and ''place''.<ref>{{cite book|last=McCarthy|first=Jerome E.|title=Basic Marketing. A Managerial Approach|year=1964|publisher=Irwin|location=Homewood, IL}}</ref> | |||
::::In service marketing, however, the four Ps are expanded to the '''seven P's'''<ref>{{cite journal|last=Booms|first=Bernard H.|author2=Bitner, Mary Jo|title=Marketing Strategies and Organization Structures for Service Firms|journal=Marketing of Services. American Marketing Association|year=1981 |pages=47–51}}</ref> or '''Seven P's''' to address the different nature of services. ( Wikipedia ) | |||