The marketing mix elements are fundamental to any marketing strategy formulation and implementation. In the changed paradigm, when business is undergoing transformation owing to changes in the environment, there is a definite need to revisit the marketing mix and consider new elements, which till now were considered subsets of the existing elements or as parts of the overall context or situation. This article tries to explore the impact of new changes that have taken place and thereby identifies a few more variables which should be considered as part of the marketing mix, for more effective and successful marketing.

The principles of marketing are applied by all—from the professional marketing manager to the layman. The difference between the two is that while the former knows the intricacies of the subject and uses the same in formulating strategies, the latter is leveraging most of the concepts without realizing that he is marketing for one cause or the other. Sample these instances. A child is crying for the parent's attention.

Parents are showcasing their ward's achievements and positives to the prospective groom's or bride's family. An interviewee is highlighting his credentials to the interviewer to get that dream job of his. Students are displaying excellent performance in their exams and demanding a gift like a trendy bike from their parents. All these are examples of marketing. Like it or not, the fundamentals of management are used by all and sundry; and more so, the concepts of marketing management.

The changes in technology and consumer lifestyles have led to the emergence of novel industries and marketing situations, which in turn have brought in new business practices, finally culminating in looking into the elements of marketing mix from a different set of dimensions. Conventionally, the marketing mix consists of the four Ps - product, price, place and promotion. And for services, we consider three more Ps, i.e., people, process and physical evidence.

Marketing Mastermind Magazine, Marketing Mix, Marketing Strategy, Professional Marketing, Marketing Management, Business Models, Fast Mooving Consumer Goods, FMCG, Marketing Plan, Hindustan Unilever Limited, HUL, Customer Loyalty, Strategic Plan.