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:
“And would you be a poet
Before you’ve been to school?
Ah, well! I hardly thought you
So absolute a fool.
First learn to be spasmodic—
A very simple rule.
For first you write a sentence,
And then you chop it small;
Then mix the bits, and sort them out
Just as they chance to fall:
The order of the phrases makes
No difference at all.”
—Lewis Carroll [Charles Lutwidge Dodgson] (1832–1898)