Topic > Changes in well-established marketing theories and models

IntroductionThe business environment is experiencing rapid changes due to one of the main drivers of the new economy: online technology. The marketing theories and models dominant today will be outdated tomorrow. Furthermore, the pure essence of marketing science is that it should be adaptive. Borden defines the marketing professional as a "decision maker", an "artist", a "mixer of ingredients", who sometimes follows a recipe prepared by others, sometimes prepares his own recipe as he goes along, sometimes adapts a recipe to his needs. readily available ingredients and sometimes experiments with or invents ingredients that no one else has tried. (Borden, 1964) Therefore the marketer constantly adopts different principles to stay focused on the market and the customer. In fact the idea of ​​adaptation comes from nature; a species must evolve to survive. Likewise the fundamental "marketing mix" has advanced, as the elements that compose it, its focus and the way in which it is practiced have changed a lot over the years. The marketing mix in theory The marketing mix is ​​an organized tool to help an organization achieve its target markets and specific objectives. The model was developed by Borden (Borden, 1964), who first began using the phrase in 1949. The most famous variables are Product, Price, Promotion and Place, first suggested by McCarthy (McCarthy, 1960), defined as the four Ps. Another set of variables was developed by Frey (Frey, 1961). He classified marketing variables into two categories: offering and process variables. Booms and Bitner built a seven P model (Booms and Bitner, 1981) for service industries by adding participants, physical evidence, and processes. Recently, Lauterborn (Lauterborn, 1990) stated that each of the 4Ps should also be seen from the consumer's point of view, introducing the four Cs, customer solution, customer cost, convenience and communication. The marketing mix in practice Along with academic evolution, inevitably came changes in marketing strategies and procedures. The marketing mix, although adopted in its basics, must adapt to the restructuring of the economy. Product The goal of marketing is to optimize the product to meet the potential customer's needs. Dell has managed to overcome the long procedures of updates, research, testing periods, etc., providing "ideal products" configured in real time in a one-to-one environment, as the customer can build a computer for his needs specifications from a variety of optional components (www.dell.com). Furthermore, the consumer is becoming increasingly technologically savvy and increasingly capable of purchasing quality products on the web, provided that a quality product is one that meets the customer's requirements (EN ISO 9001:2000).