Marketing Mix

Marketing mix
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"4 P's" redirects here. For other uses, see 4P.
The term "marketing-mix" was first coined by Neil Borden, the president of the American Marketing Association in 1953. It is still used today to make important decisions that lead to the execution of a marketing plan. The various approaches that are used have evolved over time, especially with the increased use of technology.[1]

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.[2] In service marketing, however, the four Ps are expanded to the seven P's[3] 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.[4] 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.