Latest Trends in the Marketing Mix

The Marketing Mix was a concept first coined by Neil Borden, the president of the American Marketing Association in 1953 and consisted of 4 P’s; price, product, promotion and place which are areas of focus in a marketing plan. With changes in technology the marketing mix concept has evolved, it still consists of the 4P’s (Product, Price, Promotion and Place); however the promotion methods have grown. The below methods have been identified by experts as the latest trends in the marketing mix:

 

1. Social media is now considered one of the top sources of promotions for many companies marketing their business. According to experts social media marketing budgets will double over the next 5 years.

2. Event marketing was named by 67% of B2B content marketers the most effective marketing strategy. Events are a source of allowing companies to generate revenue via ticket sales, sponsorship, vendor opportunities and more all while advertising your product or service.

3. Email marketing is a great source of sharing information with consumers and adding social share buttons increase a company’s click rate by 158%. Consumers can share with their followers your content.