He was quoted saying that he was influenced based on the study of James W. Culliton (1912-2004) who defined the function of marketing managers as ‘mixers of Ingredients’ and then suggested a list of 12 components of the industrial marketing mix during this period.
- Distribution channels
- Personal selling (face to face)
- Physical handling
- Fact finding and analysis
In 196O, Jerome McCarthy formulated Borden’s theory and presented four primary variables, namely the 4 P’s (product, price, place and promotion) in his publication “Basic Marketing: A Managerial Approach”.
A result oriented feature of this Strategy has already contributed to several organisations’ success and it is extensively implemented by a numerous number of marketing experts.
Concise Explanation of the Marketing Mix
The marketing mix is a marketing concept that incorporates the whole set of Resources accessible to marketers to be able to evolve well-organized actions and reach their sales penetration goals within a target market.
Objectives of the Marketing Mix
The marketing mix involves the whole set of marketing decisions and actions taken to ensure the success of a product, service or a brand in its market.
On a broader scale, the marketing mix model can be implemented to help decision-making in the perspective of a new offer on the market, and also to test an existing marketing strategy.
In a nutshell, the total offer has to be made up of:
- the right product or service
- at the right price
- delivered in the right place at the right time
- supported by right kind of promotion.