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The Marketing Mix in a Marketing 3.0 Context

Warrink, D. (2015) The Marketing Mix in a Marketing 3.0 Context.

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Abstract:Modern society is becoming increasingly aware of the necessity to behave in a sustainable manner which resulted in higher expectations towards sustainable practices of businesses. This is why the emergence of Marketing 3.0, a concept developed by Kotler, Kartajaya, and Setiawan (2010) which takes a more sustainable approach towards marketing, received an increasing amount of attention in the academic and practical world. This paper therefore identified the various influences this new marketing era has on the widely known and accepted 7P Marketing Mix in order to provide a valuable literature basis for the effect of Marketing 3.0 on marketing practices in form of an in-depth literature review. Furthermore, an evaluation on ethical issues regarding the new marketing era is presented with the aim of receiving a comprehensive and critical overview on this new emerging topic. The use of Marketing 3.0 practices is expected to generate benefits for customers and companies simultaneously by creating a more sustainable and making the world a better place. The efficient use Marketing 3.0 is expected to result in higher consumer trust through the use of collaboration practices. Moreover, it was found that current literature identifies a high influence of Marketing 3.0 on six out of seven Marketing Mix Ps, namely product, price, promotion, process, people, and physical evidence, as well as minor influences on place. Therefore, the concept of Marketing 3.0 is expected to be a crucial extension of current marketing practices by providing economic profits, while at the same time taking into consideration environmental, ethical, and social factors.
Item Type:Essay (Bachelor)
Faculty:BMS: Behavioural, Management and Social Sciences
Subject:85 business administration, organizational science
Programme:International Business Administration BSc (50952)
Link to this item:http://purl.utwente.nl/essays/67347
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