The Marketing Mix Understanding 4Ps, 7Ps and 4Cs (BBA/MBA)
What is the Holistic Marketing Approach?
In today’s fast-changing world, businesses need a fresh and comprehensive way of thinking about marketing. This is known as the holistic marketing approach. It recognizes that “everything matters” in marketing and that a broad, integrated perspective is necessary. A crucial part of this approach is understanding and using the Marketing Mix.
The Marketing Mix
The Marketing Mix is a foundational concept in modern marketing. Think of it as the set of controllable, tactical tools that a company blends to produce the response it wants from its target market.
The term was first coined by Professor Neil H. Borden in 1949. He was inspired by the idea of a business executive being a “mixer of ingredients,” who combines different elements to create a successful strategy.
While there are many tools, Professor E. Jerome McCarthy famously classified them into four main groups, now known worldwide as the 4Ps of Marketing.
The 4Ps of Marketing: The Classic Framework for Goods
The 4Ps represent the core pillars of any marketing plan for a physical product.
Product (The Customer Benefit) : The actual good being sold and its features, quality, branding, and packaging.
Price (The Customer Cost) : The amount the customer pays. It includes discounts, credit terms, and any allowances.
Place (Customer Convenience) : Where and how the product is distributed and sold to the customer. This includes channels, inventory, and transportation.
Promotion (Communication) : How you communicate with your customers. This includes advertising, sales promotions, and public relations.
The Extended Mix: The 7Ps of Service Marketing
While the 4Ps work perfectly for goods, services are different. They are intangible, produced and consumed at the same time, and variable. To address this, researchers Mary Bitner and Bernard Booms proposed an extended marketing mix with three additional Ps, now known as the 7Ps.
5. People 👨💼
In a service business, the people delivering the service are part of the product itself. A friendly flight attendant, a knowledgeable consultant, or a skilled barista all enhance the service experience. Their training, attitude, and appearance are critical.
6. Process 🔄
This refers to the systems and processes used to deliver the service. A smooth, efficient, and customer-friendly process can be a major competitive advantage.
For example, a simple online booking system for a hotel or a quick checkout process in a store significantly impacts customer satisfaction.
7. Physical Evidence 🏢
Because services are intangible, customers look for tangible cues to help them judge the quality. This is the physical evidence. It’s the environment where the service is delivered and any tangible items that come with it.
Examples include the cleanliness of a restaurant, the design of a bank branch, a lawyer’s diplomas on the wall, or the quality of a printed airline ticket.
A Modern Twist: From the 4Ps to the 4Cs
As marketing has become more customer-centric, Robert Lauterborn proposed reframing the 4Ps from the customer’s point of view. This is known as the 4Cs.
Making It All Work: Coherency and Dynamics
For a marketing strategy to be successful, the mix must be managed correctly.
Two key concepts are:
Coherency: This refers to how well the different elements of the mix blend together. All the Ps must send a consistent message.
For example, trying to sell a very expensive, luxury product in a discount bargain store would show poor coherency.
Dynamics: This refers to the need to adapt the marketing mix over time to suit the changing business environment, competitor strategies, and the product’s life cycle.
