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2. Need for new marketing mix model
Since its introduction, marketing mix has been modified due to changes in consumer and organisational attitudes over the last few decades (1970s – 2010s) have frequently prompted marketing thinkers to explore new theoretical
approaches and expanding the scope of the marketing mix concept.

Number of researchers like Grönroos, 1994; Constantinides, 2002; Goi, 2005; Möller, 2006) explored more ‘P’s instead of traditional 4Ps only.

Dr. Bob Lauterborn, a professor at the University of North Carolina, has proposed 4Cs. instead of 4 Ps .

The 4 C’s model of marketing is more consumers oriented because of its focus on consumers, but it is mainly used for Niche Marketing.

In the age of internet time, the "4 C's" is also facing some dilemma and a new marketing tool of "4 V's" is being
contemplated for application.

The” 4V`s”are Validity, Value, Venue and Vogue.

Constantinides came out with 4S model (web-marketing model, WMM).

It describes web marketing strategy with four elements begin with ”S" including scope, site, synergy and system.

However, the creation of new ‘4P’, `4C`, `4S` and 4`S`s could not offer the most appropriate marketing mix tool to
the practitioners which will be mutually beneficial to customers and marketers.

Every stake holder involved in the marketing process looks for `Value`.

The customer enters in the marketing process for better `value` for his money through `Value to Customer`.

The marketers would like to concentrate on the `valued customer`.

The prime objective of any business is to sought value from the business `value to the marketer`.

The marketer and customer would like to keep society`s interest intact through `Value to society`.

So there is need to study entire marketing process through approach of 4 Values Model to add entirely new
dimension to strategic marketing.

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