Marketing Mix

Marc Helmold
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Marc Helmold: IU, International University of Applied Sciences

Chapter 9 in Performance Excellence in Marketing, Sales and Pricing, 2022, pp 95-103 from Springer

Abstract: Abstract Marketing strategy and marketing mix are closely related elements of a complete marketing plan. While marketing strategy is concerned with setting the direction of a company or product line, the marketing mix is primarily tactical in nature and is employed to carry out the overall marketing strategy (Kotler & Amstrong 2018). The marketing mix refers to the tactics (or marketing activities) that we have to satisfy customer needs and position our offering clearly in the mind of the customer (Opresnik & Hollensen, 2020). It involves the 7Ps in Fig. 9.1; product, price, place and promotion (McCarthy, 1960) and an additional three elements that help us meet the challenges of marketing services, people, process and physical evidence (Booms & Bitner, 1981).

Date: 2022
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DOI: 10.1007/978-3-031-10097-0_9

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