2/21/2019

Module 1

Updated the Marketing Mix

Updating the 4 Ps

• Jerome McCarthy classified various marketing mix

tools for 4 broad kinds – 4 Ps of marketing

– Product
– Price
– Place
– Promotion

DCSMAT Vagamon,
Elizabeth Devasia, Ph.D

1
 2/21/2019

4 P components of the marketing mix

Marketing Mix
Product Price Place Promotion
• Product variety • List Price • Channels • Sales promotion
• Quality • Discounts • Coverage • Advertising
• Design • Allowances • Assortments • Sales force
• Features • Payment period • Locations • Public relations
• Brand name • Credit terms • Inventory • Direct marketing
• Packaging • Transport
• Sizes
• Services
• Warranties
• Returns
DCSMAT Vagamon,
Elizabeth Devasia, Ph.D

Updated 4 Ps

Traditional • Product
• Price
Marketing • Place
4 Ps • Promotion

Modern • People
• Processes
Marketing • Programs
4 Ps • Performance

DCSMAT Vagamon,
Elizabeth Devasia, Ph.D

2
 2/21/2019

Updated 4 Ps continued

a) People – reflects, internal marketing and also the

fact that consumers should be understood as people

DCSMAT Vagamon,
Elizabeth Devasia, Ph.D

Updated 4 Ps continued

b) Processes – ad –hoc planning and decision making

should be avoided and ensuring the creation of
mutually beneficial long – term relationships and
breakthrough products, services and marketing
activities.

DCSMAT Vagamon,
Elizabeth Devasia, Ph.D

3
 2/21/2019

Updated 4 Ps continued

c) Programs – all consumer directed activities –

whether offline or online – the activities must be
integrated

DCSMAT Vagamon,
Elizabeth Devasia, Ph.D

Updated 4 Ps continued

c) Performance – measured in terms of holistic concept

– to capture the range of possible outcome measures
that have financial and non-financial implications
(profitability as well as brand and customer equity).

DCSMAT Vagamon,
Elizabeth Devasia, Ph.D