Marketing Mix Jerome McCarthy (1960)

Marketing mix four P's of Product, Price, Place, and Promotion was introduced by Jerome McCarthy in 1960 (Yedelson, 1999). Since then we have perceived a framework that allows us the luxury of transitioning abstract ideas into tangible sale items as a marketing must-do. Research is conducted from the four P's which stands as the base of everything that we sale today. Some say the list of the P's has grown since the conception to catch up with modern times adding to the mix people, process,and physical evidence; extending the list to 7 (Yudelson, 1999). In my career the theory has been instrumental to my approach of marketing and selling. The price is a strong indicator of the product worth. When the price is too low it sends a signal that something is wrong, and when it too high people will often go out of their way to find a cheaper alternative. The four P's however did not account for customer service, stakeholders, environmental responsibility these things are discussed in the later marketing stakeholder mapping theory. Reference Yudelson, J., (1999). Adapting McCarthy's four P's for the Twenty-First century. Journal of Marketing 21,(1) 60-67. doi:10.11770273475399211008