What is the real Marketing Mix: 4Ps, 4Cs, or 4As? | ThoeryTube (2024)

Welcome to TheoryTube, your go-to destination for demystifying complex theories! In this video, we're delving into the fascinating world of the marketing mix. Have you ever been baffled by the different interpretations of the marketing mix, such as 4Ps, 4Cs, or 4As? Don't worry; we've got you covered! By the end of this video, you'll have a crystal-clear understanding of Marketing Mix. Let's dive in!

First off, let's break down the concept of the marketing mix.
As per the renowned marketing expert, Philip Kotler, it's a strategic blend of tools that firms use to shape their desired response from the target market.

Now, let's delve into various interpretations of the marketing mix, such as the 4Ps, 4Cs, or 4As.

Let's take the 4Ps first.
The 4Ps, coined by American marketing professor and author Edmund Jerome McCarthy in 1960, represent Products, Price, Place, and Promotion. Some argue that the 4Ps concept is a traditional approach to defining the marketing mix. However, it's crucial to understand that the 4Ps reflect the seller or producer's perspective of the market, rather than the buyer’s view.

Let's break it down further:
Products: Sellers or producers must decide what product or service they will offer in the market. This decision constitutes the first "P" in the marketing mix.
Price: Determining the price at which the product or service will be sold is essential. This aspect is represented by the second "P" in the marketing mix.
Place: Sellers or producers need to determine the distribution channels and locations where their product or service will be available to consumers.
This aspect corresponds to the third "P" in the marketing mix.
Promotion: Deciding on the promotional strategies and activities to communicate with potential customers is crucial. This element constitutes the fourth "P" in the marketing mix.

Now, let's switch gears and explore the 4Cs and 4As
The 4Cs represent Customer value, Customer costs, Customer convenience, and Customer communication, while the 4As stand for Acceptability, Affordability, Accessibility, and Awareness.
Remember, previously we introduced the 4Ps as a marketing mix from the perspective of the producer or seller. Similarly, we can view the 4Cs and the 4As as a marketing mix from the buyer's perspective.

Now, let's understand the relationships between the 4Ps, 4Cs, and 4As:

A product (P) generates customer value (C), leading to the customer accepting (A) the product.
A Good Price (P) represents a cost (C) for the Customer, which must be affordable (A).
A place (P) ensures Convenience (C) for the customers with easy Accessibility (A).
A promotion (P) effectively communicates (C) the message of the products, creating the right Awareness (A) among customers.
Now, it's evident that all the actions associated with the 4Ps are initiated by the producer or seller, whereas those related to the 4Cs and 4As are driven by the customer. This is why we characterize the 4Ps as a marketing mix from the perspective of the producer or seller, and the 4Cs and 4As as a marketing mix from the viewpoint of the customer.

So, whether you're a marketer crafting a strategy or a student making a purchase, understanding these concepts is key to navigating the world of marketing.
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