Faculty of Business and Management
University of Balamand
January, 2011
Copyright © 2011
All Rights Reserved
Acknowledgement
Thank you Dr. Fadila for your continuous support and the perseverance, tolerance that you have provided us throughout the semester.
Table of Contents
Acknowledgement ii
Table of Contents iii
Chapter 1 1
Introduction 1
Chapter 2 4
Body 4
Chapter 3 7
Model Application 7
Chapter 4 9
Conclusion 9
List of References: 10
Chapter 1
Introduction
1. Historical Development:
Four P’s of marketing was known as “marketing mix”. In 1948, Prof. James Culliton, “an American marketing expert”, has considered the “marketing manager” as a “decider” because all the decisions concerning the company are decided by him such as investing new items. Then, Prof. Neil H. Borden has suggested “marketing mix”. Marketing mix is the merger of marketing procedures and policies” to increase profits at a certain time. (Jain, A., p.76, 2009-2010)
In 1964, according to Prof. Neil H. Borden, marketing mix is a strategy that contains twelve components that would control the firm to a “profitable business operation” (Constantinides, E. E., p. 408, 2006).
These variables were used to persuade the buyer view (Jain, A., p.76, 2009-2010).
In 1964, Jerome McCarthy has eliminated the Borden’s components from twelve to only four elements: Product, Price, Promotion, and place (Constantinides, E. E., p. 408, 2006).
Later, Prof. Philip Kotler has made adjustments to the marketing mix in the shape of four P’s. Prof.Kotler has clarified the marketing mix from the seller perspective not the buyer (Jain A., p.76, 2009-2010).
2. Who created the Model:
According to the historical development view, the person who really created the model 4 P’s of marketing is Jerome McCarthy in 1964 because he has reduced the
References: Bulhan, S. (2005, March 3). Cadbury 4P 's . Retrieved January 12, 2011, from OPPapers: www.OPPapers.comFast Food Industry Profile: Global. Fast Food Industry Profile: Global, 1. http://search.ebscohost.com Constantinides, E. E. (2006). The Marketing Mix Revisited: Towards the 21st Century Marketing. Journal of Marketing Management, 22(3/4), 407-438. Retrieved from EBSCOhost. Doyle, S. (n.d.). Marketing Mix Modeling. Retrieved January 12, 2011, from il-synergy: http://www.il-synergy.com/html_he/articles/Marketing_Mix_Modelling.pdf English, J. (2000). The Four 'P 's of Marketing Are Dead. Marketing Health Services, 20(2), 20-23. Retrieved from EBSCOhost. Jain, A. (2009- 2010). Principles of marketing. New Delhi: Rahul Jain. Tapscott, D. (2000). Internet 's reach even extends to 4 P 's of marketing. Computerworld, 34(29), 30. Retrieved from EBSCOhost. [pic]