Critical Analysis of Marketing Mix

Marketing mixture for evaluating business situationsAnalytical cloths are the vexs designed by the experts who index have faced an problem earlier in either establishing or running a business unit. Fortunately, we cigaret use these analytical fashion models to our payoff in order to identify the skills, organization techniques, examples and expertise of others (Lieberman, 2007).The most declamatory business tool which was first expressed by McCarthy (1960) is 4 Ps of marketing mix. Marketing mix gives a basic conceptual framework for the managers, these tools can be used to develop both long edge strategies and short term tactical programs (Palmer, 2004). Product (To be designed as per the need of the customer)Place (Place at which, product should be made available) Price (cost at which the audience is ready to pay) Promotion (Advertise to attract the audience)Though, the 4Ps remain a raw material of marketing mix. The para horn inm shift with the emergence of E-commerce r ose for critical abridgment of marketing mix. M whatsoever management sub-disciplines like, consumer marketing, relationship marketing, assistants marketing and E-commerce does non implement the marketing mix in equal proportions (Moller, 2006). E-commerce or online marketing concentrates more on the price as, the product is well-known.It also promotes intensively to preserve the consumer to buy the product so, Price & promotion are prioritized in E-commerce. Moller (2006) pull ahead criticized the 4Ps that it does non consider customer behavior (p. 4), is not suitable for service industry, does not focus on relationship building (p. 4), does not underline on the customer-focused management (Fakeideas, 2008, p. 4) and Product is stated in a comic sense but, most companies sell inter-dependent products (Fakeideas, 2008).Lets evaluate if the Marketing mix can be implemented in developing a marketing blueprint for executive MBA program of University of Greenwich. Before launc hing the program, a primary innovation of assessing the SWOT and PEST frameworks helps to identify various dimensions (Ergen, 2011). For instance, Legal and political milieu affects the educational sector in its administration for an extended period which king form opportunities or threats (For instance, the UKBA rules of issuing student visa without the work countenance effected the revenue ofeducation sector).Whereas, economic crisis and away forces may create opportunities for entering a new market otherwise, a threat for innovate market opportunities. Marketing mix misses out on the above mentioned external factors which are vital for a product or a service. Furthermore, the Segmentation, Targeting and put of MBA program should probe certain questions like, Which segment of audience are more willing to pursue MBA? How effectively can we communicate about our schedule to the target audience?How does the audience perceive about our program? (Ergen, 2011). In service indus try customer satisfaction & experience while availing a service is of paramount importance since, it creates brand equity and verity (Grove et al, 2000). Similarly, for an educational product building on brand equity and student loyalty creates a word-of-mouth publicity. Hence, a traditional marketing mix should be replaced by price, brand, packaging and relationships for an service industry (Beckwith, 2001).To conclude, marketing mix is not a scientific theory, but merely a conceptual framework which aids decision makers in configuring their offerings to suit consumers needs (Palmer, 2004). Marketing mix misses out on many external factors and it is a typical model for manufacturing units who does not focus on service marketing. On a whole, any analytical framework gives an outline of business situation the managers have to dig in more factors to understand the scenario thoroughly for better approach of closure a problem.