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|Title:||From the 4 PS to 5 PS: prompt, a new element for the Marketing mix: a specific analysis of the coffee market: the Portuguese market|
|Citation:||Faria S., & Ferreira P. (2021). From the 4 PS to 5 PS: prompt, a new element for the Marketing mix: a specific analysis of the coffee market: the Portuguese market. In Bilgin M.H., Danis H., Demir E., & Vale S. (eds), Eurasian Business Perspectives: Proceedings of the 29th Eurasia Business and Economics Society Conference (vol. 16/2, pp 307-320). Springer, Cham. https://doi.org/10.1007/978-3-030-65085-8_20. Disponível no Repositório UPT, http://hdl.handle.net/11328/3449|
|Abstract:||The goal of this study is to test the introduction of a new variable in the marketing mix—prompt—and how it may impact on consumers’ satisfaction and brand loyalty. Coffee was chosen to test this new variable since it is one of the most preferred and consumed drinks all over the world. It is also the basis of a dynamic sector with a constant introduction of new products, blends, and formulas. A literature review was conducted based on the traditional 4 Ps model, namely, its importance for consumers’ buying behavior, specifically consumers’ satisfaction and brand loyalty. The empirical study was based on a survey of 220 coffee consumers, with the aim of understanding if having the product available impacts on satisfaction and brand preference. Despite some limitations, results seem to support the construct of “prompt” as an additional marketing-mix variable. Moreover, “prompt” seems to be a key element for satisfaction and loyalty. These findings are valid for Portuguese coffee consumers and should be validated in other cultural contexts and the consumption of other products and/or services. The 4 Ps remain as the most mentioned element of companies’ marketing strategy. The validity of a new marketing-mix variable, with confirmed impact on consumers’ outcomes, should be considered in the design of companies’ marketing strategy. This paper discusses the need to consider a new marketing-mix variable—prompt—in the actual accepted/ recommended marketing-mix model.|
|Appears in Collections:||REMIT - Comunicações a Congressos Internacionais / Papers in International Meetings|
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