The Modern Marketing Mix
The 4 P’s (Product, Price, Promotion and Place), also known as the “Marketing Mix,” form the basis of classic marketing theory. For more than half a century, these four concepts have served as the pillars on which businesses could lay out effective strategies and plans. Making an impact in today’s digital world, however, requires a bit more flexibility. The foundations behind the 4 P’s still ring true, but modern businesses need to adapt them in order to make the most of a customer-centered market.