Marketing managers around the world have been utilizing the “marketing mix” for years. The term was coined in 1949 by Neil Borden, a professor of advertising. E. Jerome McCarthy provided the framework for the marketing mix in 1960 with the 4 P’s model—product, promotion, price and place (distribution). Since then, there have been many variations, including the 7 P’s model, which added three drivers to include physical evidence, people and partners. A founder of Creative Solutions created the 4E’s Model—earn, engage, evolve and energize, which is an adaptation of the 4P’s providing a lifecycle dimension to the marketing mix.
For more than half a century, marketers have relied on the 4 Ps of marketing, a framework first written by E. Jerome McCarthy in his book Basic Marketing: A Managerial Approach. McCarthy’s formulation, which includes price, product, promotion and place (distribution), has informed the bedrock of product and marketing management since 1960.