The Four P's Of Marketing In The 21st Century

A Historical Analysis of the Development of Late 19th, 20th and 21st Century Marketing Initiatives, Strategies, Processes, and Trends

This study will define the development of marketing history from the late 19th century to the early 21st century. The focus on the production and product orientation era will define the industrialization of products and the promotion of marketing through trends in radio and newspaper mediums. At the mid-20th century, the focus on “marketing mixes’ defines the theoretical practice of the Four P’s of Marketing, which allowed a broader spectrum evaluation of the marketing process, which was galvanized by the trend of the multi-medium platform of TV advertising and managerial methods of the 1950s and 1960s. From

This concept defined the process of mixing the four most important segments of evaluating market trends in a comprehensive manner. Chandrasekar (2010) defines the importance of McCarthy’s four rules for marketing that defined the presence of “marketing” in the late 1950s. In the middle 1960s, Neil H. Borden had redefined the term as “marketing mix’ to define the four Ps of product, place, price, and promotion: “These four P’s are parameters that the marketing manager could control, subject to internal and external restraints of the marketing environment” (p.8). This managerial method of marketing analysis defines the overt focus on the methods of advertising that set the foundations for marketing culture in the 1940s and the 1950s as a primary objective for managers in the marketing

The dominance of production and product orientation was the primary focus of marketing in the late 19th century and into the early 20th century industrial period. Through this development, the medium of the radio became the dominant marketing initiative for manufactures, which led to the innovation/invention of the television as a the predominant choice of commercial marketing at the middle of the 20th century. The theoretical process of the Four P’s of Marketing became the dominant form of marketing analysis, which allowed a more dynamic and comprehensive managerial tone to be set in the 1950s and 1960s. These dynamic market-based strategies allowed for the expansion of technology and management as the predominant means in which to evaluate developments in marketing in “customer orientation” and “relationship orientation” in the 1980s and into the early 1990s. The decline of TV as the primary medium of marketing was defined in the rise of “social/mobile” marketing, which increased with the use of the Internet/World Wide Web” as a commercial outlet for advertising and promotion of products in the 21st century. These are the major historical developments of marketing within the context of marketing initiatives, strategies, processes, and trends in advertising and management from the 19th century to the