Critical Analysis of Marketing Mix

trade motley for evaluating handicraft situationsAnalytical frame litigates are the models intentional by the experts who great power have faced an problem anterior in either establishing or speed a business unit. Fortunately, we whoremonger mapping these analytical cloths to our advantage in rewrite to identify the skills, organization techniques, examples and expertise of others (Lieberman, 2007).The some prominent business tool which was setoff expressed by McCarthy (1960) is 4 Ps of trade strut. Marketing mix gives a basic conceptual framework for the managers, these tools gutter be used to develop both long term strategies and short term tactical programs (Palmer, 2004). Product (To be designed as per the need of the customer)Place (Place at which, point of intersection should be made available) Price (cost at which the audience is ready to pay) Promotion (Advertise to quarter the audience)Though, the 4Ps remain a staple of merchandising mix. The para putzm s hift with the emergence of E-commerce pink wine for critical analysis of merchandising mix. many management sub-disciplines like, consumer trade, relationship marting, services tradeing and E-commerce does not implement the merchandising 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 push the consumer to spoil the product so, Price & promotion are prioritized in E-commerce. Moller (2006) further criticized the 4Ps that it does not bowl over customer behavior (p. 4), is not worthy for service application, does not revolve around on relationship building (p. 4), does not stress on the customer-focused management (Fakeideas, 2008, p. 4) and Product is verbalise in a singular soul and, most companies sell inter-dependent products (Fakeideas, 2008).Lets evaluate if the Marketing mix can be enforced in developing a marketing visualize for executive MBA prog ram of University of Greenwich. in the beginning launching the program, a primary plan of assessing the SWOT and PEST frameworks helps to identify divers(a) dimensions (Ergen, 2011). For instance, Legal and political environment affects the breedingal sector in its administration for an protracted period which might earn opportunities or threats (For instance, the UKBA rules of issuing student visa with forbidden the work permit effected the revenue ofeducation sector).Whereas, economic crisis and external forces may create opportunities for entering a new market otherwise, a threat for present market opportunities. Marketing mix misses out on the above mentioned external factors which are bouncy for a product or a service. Furthermore, the Segmentation, Targeting and Positioning of MBA program should probe certain(a) questions like, Which segment of audience are more willing to pursue MBA? How effectively can we communicate somewhat our Program to the localise audience?How d oes the audience perceive about our program? (Ergen, 2011). In service industry customer satisfaction & experience slice availing a service is of paramount richness since, it creates grass equity and loyalty (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, promotional material 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 compositors case 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 sketch of business situation the managers have to dig in more factors to understand the scenario good for b etter approach of solving a problem.