The definition of marketing mix is simple. It is a marketing tool that combines a number of components in order to strengthen and solidify a product’s brand and to help sell the product or service. Companies have to come up with strategies to sell their products, and coming up with a marketing mix is one of them. It was in the late 1940s when the term “marketing mix” first emerged. Marketer E. Jerome McCarthy came up with the first of the theories for marketing mixes. This was called the Four P’s, representing product, price, promotion and place. In the 1990s, however, the definition of marketing mix became the four C’s. These four C’s vary but are based on either Lauterborn’s theory (consumer, cost, communication, convenience) or Shimizu’s theory (commodity, cost, communication and channel). Most recently, a new theory was proposed: people, processes, programs and performance. All these components are considered part of the marketing mix theories because the creator of th
by AJ Agrawal , Today, digital advertising is expected to grow to an annual spend over $335 billion by 2020. The industry is booming, taking over search ad spend at #1 in 2016. However, with constant increases in ad volume and spend, what’s happening to returns? The average clickthrough rate of display ads across all formats and placements is a miniscule fraction of a percent: 0.06% . Even of this small amount, over half of mobile ad clicks are reportedly accidental—and that’s if you can reach the user in the first place. Conversely, ad blocking tools are growing explosively, with usage up 41% on the year globally. The number is even higher among younger generations: nearly two in three millennials report using ad block software. Some predict an advertising Armageddon stemming from cheap or fake impressions, especially considering that Methbot, a Russian ad arbitrage fraud bot was amassing $5 million dollars in daily earnings . Others harp that the future is in