Acutt (2015) defines the marketing mix as simple. Explaining that it is about putting the right product or a combination thereof in the right place, at the right time and at the right price. To do this well you need to know every aspect of your business plan. The marketing mix is predominately associated with the 4P's of marketing, the 7P's of service marketing and the 4C's theories developed in the 1990s.
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| The 4Ps of Marketing |
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| The 7Ps of Marketing |
Nike- The Marketing Mix
Nike depends on its
marketing mix to maximize its profits and growth. Nikes marketing mix addresses
the key concerns in the company’s target markets around the world. Established
in 1964, Nike evolved based on the dynamics of the global sports shoes, apparel
and equipment market. Nike effectively does so through its marketing mix.
Considering its success in the global market and its leadership in the
industry, Nike indicates the significance of a company’s marketing mix to be
successful (Greogory, 2016).
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