marketing mix

The marketing mix is a business tool used in marketing and by marketers. The marketing mix is often crucial when determining a product or brand’s offer, and is often associated with the four P’s: price, product, promotion, and place. In service marketing, however, the four Ps are expanded to the seven P’s or Seven P’s to address the different nature of services. In the 1990s, the concept of four C’s was introduced as a more customer-driven replacement of four P’s. There are two theories based on four Cs: Lauterborn’s four Cs (consumer, cost, communication, convenience), and Shimizu’s four Cs (commodity, cost, communication, channel). In 2012, a new four P’s theory was proposed with people, processes, programs, and performance.