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If your latest marketing campaign didn’t provide the scalable success you were hoping for, it’s possible that you haven’t struck the perfect balance of the marketing mix. Knowing the definition of the marketing mix and its four P’s is one thing, but being able to successfully apply this theory to your campaign is more tricky than it sounds.
A winning integrated marketing strategy identifies the right balance of elements within the marketing mix and is able to take the four P’s and convert them into a customer-centric action plan based on the four C’s. When your marketing mix is spot on, and you’ve identified the perfect balance of its elements, your product will be reaching the right customers, with the right price at the right place and time.
The marketing mix is a term which was originally coined (in the late 1940’s) by Professor Neil Borden of Harvard University. The marketing mix was later refined into the four P’s by Jerome McCarthy in his book, Basic Marketing: A Managerial Approach (1960). The four P’s are used by marketers and advertising agencies all over the world when planning marketing strategies. These are: