Critical Appraisal of Prevailing Marketing Mix: Applies Particularly to the Digital Marketing Metaphor

Abstract

The generalized objective of this research paper is to critical evaluation of marketing mix in context of 21^st contrary applies particularly to the marketing perspective. This research paper provides an idea to the marketing ideologist and can be used as marketing tools to assist them in pursuing their marketing objectives. Marketing mix is derived from the single P (price) of micro-economic theory. Apart from price other three Ps were introduced into the marketing scene in order to face up into a highly competitively charged competitive international environment. This study depict revised scenario of the current standing in the debate around the Mix as marketing paradigm tool and strategic marketing management tool by reviewing academic views. Critical appraisal of traditional product based marketing mix model with the present consumer oriented model is the base of this research. However, in spite of its deficiencies, the 4Ps remain a staple of the marketing mix. The subsequent Ps has yet to overcome a consensus about eligibility and agreement over the practical application.

Keywords: Marketing tool, Marketing mix, Micro-economic theory.

DOI: 10.7176/JMCR/71-06

Publication date:September 30^th 2020