Many people think of marketing as an act of advertising and selling, although they are important but these are only two pillars of the marketing dome structure. In today’s world, Marketing has gained a lot of attention as many people have started getting involved in this occupation and the reason behind that is the changed consumer behavior. Nowadays, people are not oblivion to their needs and market and now they demand better services which will satisfy their wants from a product. The New era of Marketing is all about satisfying costumer needs as said by Philip and Gary “Marketing is managing profitable costumer relationships. The aim of marketing is to create value for costumers and to capture value from costumers in return” (Kotler and Armstrong, 2010).
However, a concept made by the marketing expert named E. Jerome McCarthy in the 1960’s does not support the pace of today’s interactive world (Goldsmith, 1999). As the time swerved these 4 mechanisms were not enough to cater the requirements of today, and it became the reason why a revised theory has been introduced. The 7 p’s of marketing in which People, Physical evidence and Procedures has been added as the 3 new P’s, also called the Service Marketing of the 7 tools of the Marketing Mix (Goldsmith, 1999). This essay will talk about many things and artefacts related to the limitations of the old Marketing mix and the new Marketing mix with other new theories and how is it changing the world along with serving the demand of present-day