Marketing Products And Services Marketing Essay
1.2 Limitations and Criticisms. Although McCarthy's four Ps mix has increasingly been scrutinised with the result that different marketing mixes apply to different marketing contexts, he believes that conceptualisations undermine the concept of the marketing mix. 2. Inseparability, inseparability of production and consumption refers to the concepts of interaction and service encounter. The process of simultaneous production and consumption involves the presence of customers, the customer's role as a co-producer, customer-employee and customer-customer interactions that makes it unique from a product (Shostack 1977). On an aircraft if you travel first class you expect enough room to be able to lie down. Physical evidence is an essential ingredient of the service mix; consumers will make perceptions based on their views of the service provision, which will have an impact on the organisations perceptual plan of the service. At its most basic level, the practice of price setting must enable an organisation to recover its costs as well as generate some predetermined level of profit. At a more advanced level, the strategic setting of price requires an organisation to consider product positioning and price planning. For example, motor insurance may have a certificate, but the financial service itself cannot be touched i.e. It is intangible. Perishable - in that once it has occurred it cannot be repeated in exactly the same way. Furthermore, McCarthy bases his ideas on a survey of a seven Ps framework that can be applied to consumer goods. This survey also reports the results, which suggest that there is a high degree of dissatisfaction with four Ps hence why he proposes that Booms and Bitner's (1981) seven Ps mix for services should be extended to other areas of. Followed by the Dr. Doyle and Stern believe the more studies and researches can help people to obtain the core of truth. (2006) 2.Overview of the theories, in the marketing field, service and product are the important elements to influence the degree of the customers satisfaction.(Ruyter and Lemmink, 1996) Many marketing researchers have created many concepts and theories about service. E. Jerome McCarthy a prominent marketer, proposed the 4 P's classification in 1960, which has been widely used and is now part of businesses and academia. The concept of the Extended Marketing Mix (Extended MM) is one of the foundations underpinning marketing theory and strategy development (Bennett 1997; Constantinides 2006; Rafiq Ahmed 1995).