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TopAim And Methodology
Literature review, as an inclusive research method (Friedman, 2006) has been undertaken here to:
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Realize the postmodern marketing management issues;
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Realize the rationality of the evolvement of RM as a fundamental marketing principle; and
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Realize how RM responds to the postmodern marketing management issues to meet and exceed contemporary market needs.
TopThe Trend Of Marketing Thinking
It is, however, widely approved that marketing as it is recognized today-the marketing mix (product, price, promotion, place-the 4Ps) approach, initiated to form during the 1950s and 1960s in the mass consumer markets of the USA (Little & Marandi, 2003). The gurus of marketing principles helped to create the marketing mix or marketing management approach as a replacement to the production and sales concepts, stressing that marketing success depends on identifying and satisfying consumer needs. In the late 1970s and early 1980s, a number of writers started to criticize the application of only 4Ps marketing mix in total marketing management (Little & Marandi, 2003). The technological developments and further academic research have exposed a number of limitations in the traditional 4Ps marketing mix approach. As a consequence, the 4Ps marketing mix approach has been extended to several Ps marketing thinking and practice to cope up with transforming market. The evolution has been illustrated in Table 1.
Table 1. The marketing mix and the extension of the 4Ps
4Ps McCarthy (1960) | Product, Price, Promotion, Place |
5Ps Judd (1987) | Product, Price, Promotion, Place, People |
6Ps Kotler (1984) | Product, Price, Promotion, Place, Political power, Public opinion-formation |
7Ps Booms and Bitner (1981) | Product, Price, Promotion, Place, Participants, Physical evidence, Process |
15Ps Baumgartner (1991) | Product/service, Price, Promotion, Place, People, Politics, Public relations, Probe, Partition, Prioritize, Position, Profit, Plan, Performance, Positive implementations |
2 additional Ps
Shams (2012)
| Proof (proving advantage through customers’ or other stakeholders’ experiences), Preference (flexibility on customers’ and other stakeholders’ preferences) |
(Adapted from Little & Marandi, 2003; Shams, 2011; 2012)