The marketing mix

Published on January 1, 2012 Reviewed on April 28, 2016   41 min

A selection of talks on Marketing & Sales

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Hello. My name is Michael Baker, and I'm an Emeritus Professor of Marketing at the Strathclyde Business School in Glasgow. Today, I'm going to talk about The Marketing Mix. This is probably one of the best-known topics in marketing, and the knowledge of it essential for anyone wishing to understand what tools are available to the marketer and how they can be combined to develop an effective marketing plan.
In this talk, we will begin by looking at some definitions of the marketing mix, which will help give an overview of the scope of the topic. Next, we review each of the 4Ps, product, price, place or distribution, and promotion, and explain some of the key or distinguishing features of each of them. Like any idea, the notion of a marketing mix is not without its critics. And it's important that one should be aware of these, together with arguments raised in its defense. And finally, we'll summarize our own view, which is that the marketing mix deserves an important place in the marketing manager's toolkit.
For many years, Peter Doyle, Professor of Marketing at Warwick Business School, contributed a chapter on the marketing mix to the well-known marketing book, which is recommended reading for anyone dipping into this series of talks. An expert on marketing strategy, Peter strongly believed that next to identifying marketing opportunities, the most important decision for the marketing manager was the selection of the appropriate marketing mix. The idea of the marketing mix originated in the world famous Harvard Business School over 80 years ago and has become one of the best-known blueprints for designing effective marketing programs.