EXCERPT:
To achieve marketing success, you need to design and implement an effective marketing strategy.
All over the world, businesses use the “Marketing Mix” theory as a basis for developing their marketing strategies – creating plans and implementing them to achieve the desired marketing reach and impact with their target audiences.
Simply put, a “marketing mix” is a combination of tools, resources and methods used by marketing practitioners, in the process of trying to achieve their marketing goals.
This concept of a “marketing mix” was first formally developed, over 6 decades ago, back in 1960, by a man called E. Jerome McCarthy in a very influential publication titled “Basic Marketing, A Managerial Approach”.
He introduced and explained the four Ps – namely Product, Price, Place, and Promotion – as a basic example of a “marketing mix”.
This concept was very well received, and widely adopted for use by marketers and business owners in various industries – real estate included – with great results to show. Little wonder that it has remained in use till this day.
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However, as it is with everything else in life, new ideas and perspectives will often arise over time, as a practice evolves. And useful improvements to the existing ways of doing things can sometimes be the result.
The challenge may however be that not all those engaged in using the original “system” will become aware of those improvememts, and so may miss out on adopting the new ways.
This is one of the reasons why I chose to write this report. You see, I’ve noticed that many marketers and business owners remain unaware that the “marketing mix” theory has evolved to include additional elements that can help them succeed better.
I refer here to the fact that – more recently (specifically, in 1981) McCarthy’s 4Ps of the marketing mix theory were expanded into “7Ps” by B.H. Booms and M.J. Bitner.
Note that the first 4Ps are retained, and in the same order. But 3 additional Ps were added, making the marketing done based on the strategy, much more potent.
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Email your Name and WhatsApp number to lanre@lanrekarim.com to request a FREE copy of this PDF Report.
Email your Name and WhatsApp number to lanre@lanrekarim.com to request a FREE copy of this PDF Report.
Email your Name and WhatsApp number to lanre@lanrekarim.com to request a FREE copy of this PDF Report.
