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21st Century Literature Review Summary

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INTRODUCTION:

Marketing is essential factor in the whole processing of the firm. The term ‘Marketing’ can be simple defined, as “meeting needs profitably”. (kotler, et al ,p5,2006). Marketing mix is the most important aspect of the concept ‘Marketing’, which is a set of controllable tools that is used by the company in order to get expected response from the targeted market. (Khan, p 95, 2014) The marketing mix includes the main elements of marketing that is 4Ps, Price, Product, Place and Promotion.

In the article by E. Constantinides (2006) ‘The Marketing Mix Revisited Towards the 21st Century Marketing’… tries to present the current standing of the main elements that is 4Ps of marketing. The purpose of presenting this article is to write a critical review. This will involve critically evaluating the journal article and highlighting the main objectives and limitations
…show more content…
The literature review gives a wide range of information on the marketing management which, includes the main elements of marketing that is 4Ps (Price, Product, Promotion and Place). The arguments on the main elements in the literature are well explained and hold a good relevance in the article.
Goi (2009) stated some essential points on the marketing mix being a strong concept. He further describes that the marketing mix as a concept makes the marketing more easy to handle , it also permits the segregation of different other activities of the company more clear. He beliefs that the usage of marketing mix for a firm can change its competitive performance in the market. The two important benefits derived are namely it shows that it is an important tool used in marketing manager’s job to make one’s competitive strengths more efficient. The second benefit is that it gives an overview and reveals a different dimension altogether in the his

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