Page 283 - (DK) The Business Book

SUCCESSFUL SELLING 281

See also: The marketing model 232–33 ■ Product portfolio 250–51 ■ Promotions and incentives 271 ■
Fulfilling demand 294–95 ■ Quality sells 318–23

When an organization They must also consider
decides to launch a new or the external market forces
updated product, marketers must that affect the marketing mix.
figure out the selling strategy.

They must carefully The marketer must
calculate the proportions of
weigh the forces and juggle
the elements (such as product, the elements within the constraints
place, price, promotion) in the of the resources available.
marketing mix.

each can be adjusted by the make two lists: the first one as the behavior of consumers,
marketer to influence the reaction itemizes the important elements retailers, competitors, government
of the consumer to the product or or “ingredients” that make up policy, and other external factors.
service being sold. The marketer marketing programs; the second In Borden’s model, the
must also take into account outlines the external forces that marketing manager should weigh
external market forces, such as may have a bearing on the first list. the effect of external forces, then
customer behavior or competition, The first list includes ingredients juggle the marketing elements from
which will have an impact on the deemed essential if the company is the first list to achieve the best
marketing mix. to win sales—product planning, possible program to fit the
pricing, branding, distribution, resources of the company. Borden
Building the mix promotion, and so on. The second advocated that to really get a grasp
Harvard Business School professor list includes market forces, such of all the marketing considerations,
Neil Borden first coined the term the manager should draw up a
“marketing mix” in 1950, using it in chart showing the elements of the
1953 in his presidential address to marketing mix.
the American Marketing Both Culliton and Borden
Association. Borden credited fellow inspired further development of
professor James Culliton as being The marketing manager, the concept within the academic
the first to introduce the idea of the as head chef, must creatively community. In 1960, a marketing
marketer as a “mixer of ingredients” marshal all his marketing professor at Michigan State
in 1948. Inspired by Culliton’s activities to advance University, Edmund Jerome
ideas, Borden began using the term the short and long term McCarthy, set out what would
to describe what Culliton’s “mixer interests of his firm. become the definitive word on the
of ingredients” should design. Neil Borden marketing mix. He condensed the
In an article in 1964 titled “The mix ingredients into an easily
Concept of the Marketing Mix,” remembered mnemonic, the Four
Borden advised that when Ps: Product, Place, Price, Promotion.
marketing managers build a In his classic text, Basic Marketing
marketing program, they should (1960), McCarthy elaborates on ❯❯