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:
“Much of our reading, much of our labor, seems mere waiting: it was not that we were born for. Any other could do it as well or better. So little skill enters into these works, so little do they mix with the divine life, that it really signifies little what we do, whether we turn a grindstone, or ride, or run, or make fortune, or govern the state.”
—Ralph Waldo Emerson (1803–1882)