The marketing mix is a business tool used in marketing. The marketing mix is often crucial when determining a product or brand's offering, and is often synonymous with the four Ps: price, product, promotion, and place; in service marketing, however, the four Ps have been expanded to the seven Ps or eight Ps to address the different nature of services.
In recent times, the concept of four Cs has been introduced as a more customer-driven replacement of four Ps. And there are two four Cs theories today. One is Lauterborn's four Cs (consumer, cost, communication, convenience), another is Shimizu's four Cs (commodity, cost, communication, channel).
Read more about Marketing Mix: History, Four Ps: The Producer-oriented Model, Four Cs: The Consumer-oriented Model, Four Cs: in The Seven Cs Compass Model
Famous quotes containing the word mix:
“Intimately concerned as we are with the system of Europe, it does not follow that we are therefore called upon to mix ourselves on every occasion, with a restless and meddling activity, in the concerns of the nations which surround us.”
—George Canning (1770–1827)