Topic: Compare and analyze the 4ps (marketing mix) with the SIVA model
Word count: 513
4ps has been around in marketing for many decades, it is a fundamental framework that helps businesses to access and satisfy their target customer and enhance the brand trust. Nowadays, 4ps has been improved by more customer- centric model- SIVA model. The purpose of this literature review is to compare and analysis the similarity and difference between 4ps and SIVA model.
Table of Contents
1.0 Introduction& justification ——————————————4
2.0 Literature review—————————————————– 4
3.0 Conclusion and possible ongoing research ———————– 5
4.0 References———————————————————— 6
5.0 Appendices ———————————————————– 8
1.0 Introduction& justification
The efficient marketing is supported to increase the selling in market, and marketer needs to seek out, create and then harvest business opportunities. Therefore, 4ps and SIVA model will be analyzed in this literature review.
According to Hakansson &Waluszewski, 2005 & Goi, 2009, the marketing mix is executed through 4ps (price, product, place, promotion), however, the 4ps marketing mix is has been replaced with a more customer-centric model-SIVA, due to the limitation of 4ps marketing mix, such as the lack of mutual exclusiveness, collective exhaustiveness and inherent negative definition of sales of 4ps, these studies are relevant to the current problem (Festa, Cuomo & Metallo, 2015; Waterschoot &Bulte, 1992).
SIVA is a model that includes solutions, information, value and success (Dann, Harris & Mortetc, 2007). This literature review is going to Compare and analyze the 4ps (marketing mix) with the SIVA model.
2.0 Literature Review
4ps-marketing mix is a crucial tool to help marketers understand what products and services need to be offer and how it can be offered in market. 4ps includes price, product, place, and promotion, it designs to match brand positioning and it plays an important role that achieve target customer and make them trust a brand (Dubey, 2017& Goldsmith, 1999).
However, according to Rafiq & Ahmed (1995), the numerous and ad hoc conceptualizations decrease the concept of the marketing mix, therefore there is a high degree of dissatisfaction, limitation and problems in understanding and applying concepts with the 4Ps (Tapp & Spotswood, 2013; Usui 2011; Wood, 2008).
Therefore, according to Wani (2013), 4ps framework has been improved as SIVA model (Solution, Information, Value, Success), comparing with 4ps, SIVA is a more customer-centric model, and it approaches to customer- focused marketing (The table of 4ps theory and SIVA model will be indicated at appendix).
Fro example, according to Aggarwal (2009), instead of advertisement for promotion, SIVA simply gives customer information that they need and focus on educating customer providing product and services that customer needs each point in purchase cycle. 4ps using economic theory to setting price, SIVA offers price that based on what the value to customers, and instead of product SIVA define offerings by the needs product and services can meet.
Moreover, In SIVA model, customer can access goods and services wherever they want instead of certain places. Comparing with 4ps framework, SIVA model is more customer-based, and it is applicable for market planner, designer, implementer, and practitioner (Liophanich, 2017). Therefore, these finding indicates SIVA model is a revolution of 4ps framework with more customer- centric.
3.0 Conclusion and possible ongoing research
SIVA is a revolution of 4ps marketing mix, there are some similarities, but SIVA is more customer-centric model than 4ps framework. However, 4ps framework has been around for many decades, if SIVA model can actually dethrone the 4Ps?
If it does, can SIVA actually survive the rest of time? Although SIVA plays an important role to access target customer and built brand loyalty, the further insights still need to provided if SIVA can carve out a niche for itself in consumer markets.
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Dubey, J. (2017). Patanjali: unique Brand Building and 4ps. IUP journal of Brand
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Festa, G., Cuomo, M. & Metallo, G. (2015). The (r)evolution of wine marketing mix:
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Goldensmith, R. E. (1999). The personalized marketplace: beyond the 4 ps. The
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Rafiq, M., Ahmed, P. (1995). Using the 7ps as a generic marketing mix: An
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Tapp, A., Spotswood, F. (2013). From the 4ps to COM-SM: reconfiguring the social
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Usui, K. (2011). Precedents for the 4ps idea in the USA:1910s-1940s. European
Business Review, 23 (2), 136-153. Retrieved from https://www-emerald-com.ezp01.library.qut.edu.au/insight/content/doi/10.1108/09555341111111174/full/pdf
Wani, T. (2013). From 4ps to save: A theoretical analysis of various marketing mix
model. The Jounal of Business Science International Research 1(1), 4-8.
Retrieved from https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2288578
Waterschoot, W. V., Bulte, V. D. (1992). The 4ps classification of the marketing mix.
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Appendix1: 4ps marketing mix
Appendix 2: SIVA model