Fundamentals of Marketing & Paradigm Shift: 9th P’s Implications for the 21st Century Marketing Mix and for Social Marketing. Conceptual and literature development paper

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Fundamentals of Marketing & Paradigm Shift: 9th P’s Implications for the 21st Century Marketing Mix and for Social Marketing. Conceptual and literature development paper

ABSTRACT:- Marketing mix is the fundamentals of marketing, which presently consists of 7P’s.  Over time, the mix had evolved from the 4P’s status around about 1948/9 in relation to goods. Subsequently, this was formalised in 1961.  Later, three more variables emerged in relation to services, which were added to the mix to become 7P’s in 1981. In an increasingly globalised, dynamic, competitive, innovative and technology based 21st century business environment, it has now made it necessary to consider adding the 9th Ps  mix elements, which is the Platform of the internet. In fact, there is yet a similar theorization with respect to the 9th.  As well as reviewing the nascent literature, the purpose of this article is to examine if the 9th P should be added to the mix. It also seeks to analyse the inherent implications and highlights the justifications for its inclusion or otherwise. The article adopted a reviewing of relevant literature approach as a methodology, back-up with pilot qualitative and quantitative studies.  Drawing heavily from literature evidence and the pilot data outcome, this paper uses descriptive analysis to isolate the variable 9th mix elements.  This article re-in forces the proposition and argues for the 9th P to be added, as well as suggesting what roles the 9thP variables would play in advancing the benefits for marketing, more broadly, whilst the finding revealed the addition would significantly enhance the chances of facilitating quality of marketing in this 21st century digital age. Importantly, this finding highlights an important shift in paradigm with respect to the 4-9 P’s discourse.

 

Key words:  Marketing mix; fundamentals of marketing; 4-7Ps and 4-9Ps; Internet Platform, Digital Marketing; Global marketing; Paradigm shift

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