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Abstract:

Purpose – The purpose of this paper is to present a consumer-oriented model of the market offering (marketing mix) whereby business practitioners, as well as academic scholars and students, can better understand the parallel-based logic of how the four elements of a market offering are closely related and interdependent at the initial stage of market entry.

Design/methodology/approach – A consumer research study is conducted to identify the key factors that influence consumer buying decisions of particular products in Europe and North America. The five key factors identified are: importance of the product, time and effort to be spent in buying, technical complexity of the product, need for services in the buying process, and rate of product change. In addition, a thorough analysis of the marketing mixes used for numerous major categories of products is conducted. Based upon this research study and product category analysis, a consumer-oriented model is developed. This model can then be used in establishing the initial market offering and subsequent competitive differentiation.

Findings – A basic foundation exists regarding the parallel relationship between and among the four elements of a firm's market offering – product, terms of sale, distribution, and communication – and why a change in any one of the elements generates a logical change in the other three.

Practical implications – The paper has used this model both in business consulting practices, and as an academic-based learning tool.

Originality/value – The paper focuses on this interdependent relationship and the normal “fit” between and among the four elements of a successful initial market offering (marketing mix).

Keywords:

Competitive strategy, Customer orientation, Marketing mix

Article Type:

Conceptual paper

Article URL:

http://www.emeraldinsight.com/10.1108/09555340910998814

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