The Marketing Mix in a Marketing 3.0 Context

Abstract

Modern society is becoming increasingly aware of the necessity to behave sustainably which resulted in higher expectations towards sustainable practices of businesses. Thus, 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 to provide a valuable literature basis for the effect of Marketing 3.0 on marketing practices in the form of an in-depth literature review. Furthermore, an evaluation of ethical issues regarding the new marketing era is presented with the aim of receiving a comprehensive and critical overview of 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 also aims to result in higher consumer trust through the use of collaboration practices. Moreover, findings suggest that Marketing 3.0 highly impacts six out of the seven Marketing Mix Ps, namely product, price, promotion, process, people, and physical evidence, as well as mildly influences place. Therefore, the concept of Marketing 3.0 is a crucial extension of current marketing practices by providing economic profits, while at the same time taking into consideration environmental, ethical, and social factors.