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
Date
2021
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Publisher
Springer
Language
English
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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.
Keywords
Marketing mix, Coffee, Consumer behavior, Satisfaction, Loyalty
Document Type
conferenceObject
Publisher Version
10.1007/978-3-030-65085-8_20
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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
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Restricted Access