Keywords

Marketing Mix, 4Ps, 5Es, Digital Marketing, New Marketing, 4Ws.

Introduction

Background

The term "Marketing Mix" was coined by Neil Borden in 1949. He began by conceptualizing a marketing executive as a "mixer of ingredients" who alternates between adhering to pre-established recipes, improvising recipes on the spot, modifying recipes based on the available ingredients, and occasionally introducing novel and untested ingredients. In 1964, E. Jerome McCarthy introduced the pioneering notion of the 4Ps: price, promotion, product, and location (distribution). These factors are now widely recognized as the fundamental components of a marketing mix. Marketers possess four dimensions that they can utilize to develop and structure a marketing strategy (McCarthy, 1960; Borden, 1964; Kotler, 1972; Anderson & Taylor, 1995; Ashworth & Kavaratzis, (2009); Pour et al., 2013; Perreault & McCarthy, 2017). Over time, the Marketing Mix undergoes development. There are several different models of the marketing mix, including the 4C model by Lauterborn (1990), the 7P model by Constantinides (2002), Constantinides, (2004) and more recently, the SIVA model by Dev & Schultz (2005) and the SAVE model by Ettenson et al. (2013).

In 2017, a novel marketing mix model named Marketing Mix: 5 E was developed in an executive marketing course at the Mannheim Business School, drawing inspiration from Marketing Mix SIVA and SAVE Constantinides, (2006). The updated model transitions from a fixed to a flexible approach integrates the outbound/inbound paradigm, and expands the strategic framework of the new 5E Marketing-Mix by incorporating branding as a fifth dimension: Exchange the Knowledge, Extend the Channels, Expand the Value, Evolve the Solutions, and Engage the Brand Constantinides, (2014). These dimensions have a strong correlation with the current digital era and apply to all firms, organizations, countries, etc., particularly in the present digital era (Borgerson, 2015; Farooq et al., 2018; Kotler et al., 2021).

Today, businesses must obtain new information technologies, from a start-up or a growing corporation, to create and maintain a competitive edge in the market. This will enable them to stand out from their competitors. Most business models require regular updates, utilizing specialized applications such as websites to inform customers, software packages to streamline complex procedures, robust networks, and teleconferencing devices for internal and external communication to respond to evolving customer demands effectively. We are all interconnected by various technological advancements and deeply engaged in this subject (Gummesson, 2002; Kotler et al., 2021).

In the present-day marketplace, which is characterized by interactivity, networking, and customer control, we can attribute the failure of marketing to achieve its goals of establishing identity and meeting customer needs and desires to the widely used marketing management concept known as the Marketing Mix: 4Ps. This concept primarily emphasizes product, price, place, and promotion. Now is the opportune moment to reexamine the process of creating value within enterprises. This involves initially adopting a customer-centric perspective and incorporating internal activities and processes (Schultz et al., 2015a; Kotler et al., 2019).

In today's interconnected and digitized world, companies must concentrate on effectively incorporating the marketing mix into their overall marketing strategy, and establishing strong connections between the various elements of the marketing mix. By treating each element as a separate marketing strategy, marketers can identify relevant factors, address any issues that arise, and enhance the overall performance of their marketing strategy (Krishen et al., 2021; Kotler et al., 2021).

Our approach involved examining various perspectives by developing a customer-and-company-focused marketing mix process known as the 5E model (Exchange the Knowledge, Expand the Value, Extend the Channels, Evolve the Solution, and Engage the Brand). These components have been successfully implemented in a limited number of companies thus far (Kotler et al., 2021). Nevertheless, the Marketing Mix 5E model remains a conceptual framework in which the creator formulates assumptions about the marketing mix model and subsequently examines established ideas without the necessity of conducting experiments to validate or invalidate the theory. Therefore, additional empirical evidence is required to substantiate the conceptual framework of Marketing 5E.

Problem Statement

Since its establishment in 1948, Marketing Mix has been developing. The more interactive, networked, customer-controlled, and digitized our world becomes, the more companies need to focus not only on the activities and success factor of how to implement marketing mix into a well-performed marketing strategy but also the processes that connect the marketing mix variables so that each element in the marketing mix can also be used as a separate marketing strategy and help marketers distinguish the correlation between each element to point out relevant factors if there are some problems occurred and support the entire marketing strategy performances. This is the base foundation of Marketing Mix 5E creation, which was established and inspired by the SIVA and SAVE Marketing Mix. However, the new marketing is still a conceptual framework with no extensive empirical evidence to support the concept.

Marketing Mix and its Development

The Marketing Mix is not solely a scientific theory but rather a conceptual framework that identifies managers' three main decisions in adapting their offerings to meet clients' needs. These tools can facilitate the creation of both long-term strategies and short-term tactical programs. The marketing mix proportions can be adjusted similarly and dissimilarly across different products.

Marketing is perceived as a potent idea due to its ability to simplify the task of marketing, create a distinction between marketing and other firm activities, and assign marketing tasks to experts. The critical elements of the marketing mix can alter a company's competitive standing.

In 1964, Borden asserted that he was the first to utilize the term "the marketing mix," which was initially proposed by Culliton (1948) in his depiction of a business executive as a "mixer of ingredients." An executive is an individual who skillfully combines many elements, much like a chef, by following a prescribed method, adjusting it based on the resources at hand, and occasionally innovating by introducing untested components. The early marketing notion closely aligns with the marketing mix knowledge, which originated from the concept of action parameters introduced by Stackelberg in the 1930s (Stackelberg, 10938).

In 1964, E. Jerome McCarthy, (2009) introduced the four Ps: price, promotion, product, and place (distribution). These factors are now widely recognized as the fundamental components in developing a marketing mix. Marketers possess four elements that they might utilize to develop and structure a marketing plan. Four of the six variables can be altered over a prolonged duration. However, modifying a product or a distribution channel in the immediate term is challenging. Thus, in the immediate timeframe, marketers are constrained to utilizing only half of their arsenal. This constraint emphasizes the significance of extended-term strategic planning (McCarthy, 1964; Kotler, 1967).

Borden's marketing mix comprises 12 components: price, product development, distribution methods, branding, promotions, personal selling, advertising, packaging, display management, market research and analysis, and physical handling. In 1961, Frey (1961) proposed that marketing variables should be categorized into two components: methods and tools such as distribution channels, personal selling, advertising, sales promotion, and publicity) and offerings (including product packaging, brand, price, and service (Borden, 1964; Borgerson, 2014; Perreault & McCarthy, 2017).

In contrast, Lazer & Kelly, as well as Lazer, Culley & Staudt in 1973, proposed three components of the marketing mix: the combination of goods and services, the distribution strategy, and the communication strategy (Lazer & Kelly, 1962; Lazer et al., 1973). McCarthy, (1964) adopted and refined Borden's concept, defining the marketing mix as integrating all elements within the control of marketing managers to generate customer pleasure in the desired market segment. Subsequently, he consolidates the 12 aspects produced by Borden into four distinct elements, referred to as the 4Ps or four Ps, which include product, price, promotion, and place. Marketing managers strategically employ these elements to meet the target audience's needs effectively.

During the 1980s, numerous researchers introduced novel "P" elements to the marketing mix. In 1981, Booms and Bitner expanded the original 4Ps of marketing by including three additional elements: participants, physical proof, and process. This modification aimed to make the marketing mix concept more relevant to the service industry. In 1986, Kotler expanded the P-s idea to include political power and the shaping of public opinion. In 1991, Baumgartner introduced the notion of the 15Ps. In 1986, McGrath proposed incorporating three key elements, personnel, physical facilities, and process management, as essential components. In 1994, Vignalis and Davis proposed the inclusion of the S (Service) in the marketing mix. In 1999, Goldsmith (1999) proposed the concept of 8Ps, which encompassed the advantages of product, price, venue, promotion, participants, physical evidence, process, and customization (Bitner et al., 1990; Blythe & Megicks, (2010); Rafiq & Ahmed, 1995; Lindgreen & Wynstra, 2005; Lovelock & Gummesson (2004); Morgan & Hunt (1994); Zeithaml et al., 2006) Figure 1.

Booms (1981) developed a model comprising seven elements, known as the 7Ps. Furthermore, they incorporated people, physical evidence, and processes alongside the traditional product, price, promotion, and place elements Morgan, Pritchard, & Pride (2011). The term "Participant" was introduced to acknowledge the significant role of the human element in every facet of marketing. The term "process" was included to indicate that these services, in contrast to tangible goods, are perceived as a series of actions or steps when acquired. They incorporated "physical evidence" or "peripheral clues" to represent the tangible aspects of a service interaction or the benefits of a retail location.

Booms and Bitner (1981) consider "partners" as a mixed variable in marketing theory due to the increasing significance of collaborative channel partnerships Ng & Yau (2018). McCarthy's, (2009) concept of the four P's examines marketing from a marketer's viewpoint. It delineates the variables that marketers must manipulate and is occasionally referred to as a marketing management viewpoint. According to Robert Lauterborn, it is essential to consider each variable from the consumer's point of view. This conversion is achieved by transforming the product into a "customer solution," the price into the "cost to the customer," the place into "convenience," and the promotion into "communication." The 4Cs marketing mix, as proposed by Baker (2014), Bennett, (1997), Kotler et al. (2010), Lauterborn (1990), and Smith (2013), is a recent development Pappas, (2016).

In 2005, Chekitan S. Dev and Don E. Schultz contended that the traditional marketing mix of the four Ps has become obsolete in the 21st century due to its need to align with current realities. Subsequently, they introduced a novel marketing mix called S.I.V.A., an acronym for solution, information, value, and access (Schultz & Dev, 2015b; Kotler et al., 2021). Eduardo Conrado, the Chief Marketing Officer for Motorola and one of the authors of the H.B.R. study, suggests that business owners should adopt the S.A.V.E. framework instead of the traditional 4Ps marketing mix to develop and establish their distinct products Romaniuk & Sharp (2000). The framework emphasized Solution rather than Product, Access rather than Place, Value rather than Price, and Education rather than Promotion of a product or service (Kotler et al., 2021).

In addition, the 5E Marketing Mix framework was created in 2017 by Septiani, Pfoertsch, and Fachira (2018). The inspiration came from the Marketing Mix: S.I.V.A., created by Chekitan S. Dev and Don E. Schultz et al., 2005a. They contended that the 4Ps had lost their relevance as a marketing mix and should be updated to align with the realities of the 21st century. SIVA is an acronym that represents the concepts of solution, information, value, and access, as described by Dev and Schultz in 2005 and Kotler et al. in 2021.

Furthermore, accelerating the SIVA model, the Marketing Mix: SAVE, a modified version of the well-known 4Ps of marketing for B2B companies, exists. This modification was developed by Eduardo Conrado, the Chief Marketing Officer for Motorola and one of the authors of the Harvard Business Review study. The SAVE model was developed on behalf of a corporation or business to create and define their distinctive product by combining several features Ryan, (2016). The SAVE elements consist of Solution, Access, Value, and Education, as stated by Kotler et al. (2021). The SIVA and SAVE models are pertinent in the contemporary digital age. However, he also believed that the marketing mix would be more comprehensive if it incorporated "TRUST" as one of its constituent aspects (Kotler et al., 2021). Consequently, he put up this marketing mix: The 5Es and the marketing mix aspects are.

Lifetime solution (evolve the solution): The ability of the company to develop its established solutions gradually and initiate new solutions.

Educational or knowledge transfer (exchange the knowledge): Interchange of facts, study results, know-how, and experiences between the company and people outside the company (in this case, customers and potential customers).

Joint or total value (expand the value): The company's ability to increase or add more benefits and the company's worth towards customers' perspective.

Access or omnichannel (extend the channels): Widen the access between the company and customers to make it easier for them to connect.

Brand trust (engage the brand): The corporation engages in a strategic marketing activity by incorporating its product/service's brand, aiming to enhance consumer awareness of its superior value and advantages compared to other brands within the same industry in which it competes (Kotler et al., 2001).

The fifth component of brand trust holds significant importance in contemporary marketplaces. The 5E framework is analyzed within the framework of a corporate environment, specifically about the effects of the Internet of Things (IoT) (Kotler et al., 2021).

Digital Marketing

The advent of digital technology has revolutionized the way individuals seek information, engage in social interactions, and make purchases of goods and services. Social media platforms, like Facebook, Twitter, Instagram, and WhatsApp have enabled individuals to share and generate content that can rapidly reach larger audiences. It signifies that the use of digital technology has allowed companies to gain a deeper understanding of their customer's decision-making processes and the ensuing conversations regarding the products and services they provide to the market. Moreover, acquiring this information allows the organization to enhance the alignment and precision of marketing touchpoints with sales and client lifetime value (Gupta, 2015).

Digital marketing utilizes digital platforms to successfully communicate, engage, and exert influence on customers in conjunction with traditional marketing methods. Figure 2 presents a framework that demonstrates the four essential components of digital marketing, which are crucial for effective communication, engagement, and influence on clients (Smith, 2004).

Outbound Marketing, also known as traditional marketing, involves using print brochures, radio, television commercials, and other methods to reach out to target customers. In digital outbound marketing, the activities primarily consist of searching and displaying adverts.

Inbound Marketing pertains to the strategies and techniques employed by organizations to optimize their visibility and accessibility to potential clients throughout their search for a particular service or product. An integrated Search Engine Optimization (SEO) approach has arisen as organizations strive to connect their websites with consumer search procedures and search engine algorithms (Steenburgh, et al., 2009; Dakouan, 2019; Vargo & Lusch (2004).

Social media includes digital channels where users actively generate material, such as product review websites, Twitter, Facebook, and Instagram, significantly impacting other customers' purchasing decisions. Companies actively use social media platforms to connect and service customers effectively through new means. Mobile technology has revolutionized how people seek and buy products and services by providing constant connectivity, enabling them to stay connected at any location and time (Gupta, 2015; Smith, 2020).

Within this framework, we understand that the interaction between companies and customers in the digital age is not unidirectional but rather dynamic and reciprocal. Hence, the company considers its approach whereby any output from the company will be reciprocated as feedback, which may manifest as customer loyalty, complaints, suggestions, etc. To effectively implement the digital marketing strategy, the organization must enhance its level of interactivity and flexibility. The organization employs a combination of outbound and inbound marketing strategies. This approach goes beyond the usual method of promoting items or services to clients, instead focusing on generating interest and enticing customers to make purchases.

Companies consider not only their own viewpoint but also that of their customers. Suppose a corporation desires to implement digital marketing frameworks that can operate continuously and cyclically. Therefore, they must enhance their marketing strategy in their marketing mix, shifting their focus from solely promoting their company's interests to considering both the company and customers' behaviors.

The Digital Marketing framework has two distinct phases, as seen in Figure 3 (Kotler et al., 2021). Initially, organizations employ the Marketing Mix: 4Ps framework throughout developing marketing content. This is done to effectively communicate the details of their products or services to their clients. The four essential aspects of the Marketing Mix (Price, Place, Promotion, and Product) are utilized to represent what the company offers to the market accurately.

Following the implementation of the Marketing Mix: 4Ps at the initial stage, the company must get consumer feedback, which would involve another business in the event of business-to-business interactions. During this stage, the company utilizes the Marketing Mix: 5 Es (Evolve the Solution, Exchange the Knowledge, Expand the Value, Extend the Access, and Engage the Brand) to engage with customers and gather information about their preferences, opinions on products or services, and identify areas for improvement or maintenance.

The new 5E Marketing Mix is also relevant for Business-to-business (B2B) marketing. B2B, or business-to-business, marketing refers to businesses' activities and techniques to sell their products or services to other businesses rather than targeting individual consumers. It encompasses an intricate array of actions aimed at satisfying the requirements of other enterprises, which frequently possess distinct purchasing procedures, motivations, and decision-making frameworks in contrast to individual consumers. B2B marketing is a specialized form of marketing that targets explicitly selling products or services between businesses. Business-to-business marketing involves various tasks such as developing products, determining prices, promoting them, and distributing them, all customized to meet business consumers' specific demands and preferences (Kotler & Armstrong, 2010). B2B markets have distinct characteristics compared to consumer markets, including extended sales cycles, higher buy quantities, and a stronger focus on cultivating enduring connections Hankinson, (2004), (Hutt & Speh, 2012).

B2B marketers utilize diverse tactics to target and captivate company clientele effectively. Commonly employed tactics encompass content marketing, account-based marketing (ABM), trade exhibitions, and digital marketing (Ryan, 2016). Segmentation is vital in B2B marketing, enabling businesses to pinpoint and focus on particular industries, company sizes, or job functions inside organizations (Kotler et al., 2002). Establishing and sustaining strong relationships with corporate clients is crucial in B2B marketing. Relationship marketing centers around establishing trust, mutual comprehension, and creating long-term value (Morgan & Hunt, 1994). The advent of B2B e-commerce platforms and digital technology has revolutionized how B2B transactions are carried out, providing enhanced efficiency and convenience for buyers and sellers (Chaffey & Ellis-Chadwick, 2019), Choy et al., (2003).

B2B marketers encounter obstacles such as extended sales cycles, intricate purchasing processes, and the requirement for tailored marketing strategies (Dwyer et al., 1987). Assessing the efficacy of B2B marketing endeavors is of utmost importance. Metrics such as customer lifetime value (CLV) and customer acquisition cost (CAC) are used to evaluate the return on investment (ROI) of marketing initiatives (Farris et al., 2010). Business Marketing involves aligning the supplier's capabilities with the customer's objectives. Business marketing involves the generation of value for clients who are businesses. The business marketer must comprehend that business consumers generate value for their clientele. Therefore, business marketers must clearly articulate the "value" they offer by focusing on how they assist the customer in delivering value to their customers.

Social Media Marketing

Due to the advancement of Internet services, the evolution of communication technology has led to integrating social media marketing into all marketing strategies. Social media marketing entails leveraging various social media channels to advertise and endorse companies, services, or content. According to Smith (2020), it has become an essential element of digital marketing strategies. Well-known social media platforms encompass Facebook, Instagram, Twitter, LinkedIn, Pinterest, Snapchat, TikTok, and YouTube, each catering to a distinct demographic and offering distinctive capabilities (Kaplan & Haenlein, 2020), Khoi et al., (2015). Transitory material, such as Stories on Instagram and Snapchat, experienced a surge in popularity. These ephemeral posts provide a captivating means for marketers to establish a connection with their target audience (Singh, 2019). The field of social commerce experienced substantial expansion, as it allows consumers to make purchases directly through social media networks. Shopping functionalities were implemented by platforms such as Instagram and Facebook (Zhang et al., 2020). Influencer marketing continued to be a significant technique, as firms partnered with influencers to effectively and authentically reach specific target audiences (Pappas, 2016). Smith (2020) highlights that paid social media advertising is an essential component of marketing strategies because it provides accurate targeting options and measurable outcomes. The media landscape significantly influences client engagement, and outbound and inbound marketing are becoming integral components of modern marketing strategies. The 5Es marketing mix plays a crucial role in achieving success.

Marketing Mix 5 Es In Detail

1. Exchange the Knowledge

Traditionally, in the conventional marketing mix, communication has been one-way. Nevertheless, as our society becomes more digitized, communication is shifting from one-way to multi-way. Preceding the event, the corporation furnished clients with unambiguous information employing the Marketing Mix: 4Ps (Product, Promotion, Place, and Price). Currently, the corporation has actively sought feedback from its clients to gain new perspectives and understand their needs (Kotler et al., 2021), Kotler, (2015).

Knowledge can be defined in two fundamental ways that are of significance. The initial definition elucidates a delineated corpus of knowledge Kotler, (2016). The corpus of information can encompass several elements, such as facts, views, ideas, theories, concepts, and models (or other frameworks), depending on the definition. Additional categories are also feasible. The subject content, including chemistry and mathematics, is one potential option. Knowledge is the state of being that a person possesses about specific knowledge Kotler & Armstrong (2018), Kotler et al., (2010). These states encompass several stages of cognitive development, such as ignorance, awareness, familiarity, understanding, and facility Kotler et al., (2024). Knowledge exchange refers to sharing information, research findings, expertise, and personal experiences between a firm and individuals external to the company, particularly consumers and potential customers (Septiani et al., 2018).

2. Expand the Value

Value was always there within the company and the product/service they offered, but in the Marketing Mix:4Ps, the price element became more critical than the rest of the elements. A company that uses Marketing Mix:4Ps tends to generate price equivalent to value. In today’s era, people understand value is much more than “price” because of secondary aspects like prestige and trust Kotler et al., (2024). In addition, there are also additional costs to the customer, which could add or could not add value. Price is not only the indicator of value (Kotler et al., 2021).

Value is defined in many ways as a mix of service, product quality, image, and price Kotler et al., (2025). Customer value encompasses the total experience of the customer regarding the organization, its products and services, purchase and post-purchase services, and customer support, as well as the overall impact of the interaction between consumer and product, the benefits conferred, and how these affect the well-being and are perceived by influencing others (Dev & Schultz, 2005).

Expanding the value means the company’s ability to increase or add more and more benefits and the company’s worth towards customers’ perspective. It happens when a company tries to maintain and develop its established solutions to become more powerful and beneficial for the customers, processes customer feedback, improves itself, and creates something new and valuable Krishen et al., (2021). Also, it can happen whenever customers use the purchased products/solutions (Dev & Schultz, 2005; Kotler et al., 2021). This element is becoming essential and highly correlated with today’s digital marketing era because if a company only focuses on the price, the company will only see certain aspects of value. Therefore, the company must see the overall value-creation process and its results.

3. Extend the Channels

The company and its product and service have always had value, channel, or access. Within the marketing mix framework, the element commonly referred to as "place" holds greater prominence. Nevertheless, with the increasing digitalization of our world, relying solely on the "place" factor is insufficient to effectively generate value for both the firm and customers, as it pertains to the place in the Marketing Mix: 4P stands for point of sale and distribution. At the same time, a marketing channel is a network of exchange interactions that generate consumer value in the consumption, acquisition, and disposal of products and services (Kotler et al., 2021). This definition involves the exchange of relationships that arise from market demands in order to meet those demands. Channel participants must possess adequate resources and capabilities to effectively meet the evolving demands and desires of the market (Steenburgh et al., 2009).

The term "Extend the Channels" pertains to the company's efforts to broaden the avenues through which customers can engage with the company, hence facilitating smoother communication. Customers have two options for obtaining a tangible product: purchasing it from a provider and having it delivered or utilizing 3D printing technology to create the components of the product themselves. This occurs when a corporation establishes new access channels, integrates with existing channels produced by others (such as social media and websites), and ensures its presence in places where potential customers are likely to be. Platforms do not impose restrictions on access. The dissemination can occur via both online and offline channels. Online media includes websites and social media platforms, while physical media encompasses events, representative offices, and brochures. The significance of this element is increasing and strongly associated with the current era of digital marketing due to the evolving technology that is providing organizations with more significant opportunities for sales. Furthermore, there is a shift in client demands, with an increasing desire for expedited product/service delivery across global locations (Steenburgh et al., 2009; Kotler et al., 2021).

4. Evolve the Solution

The business model entails providing clients with whole solutions rather than individual products. Companies that adopt a solutions strategy combine their products and augment them with software and services. These packages generate more significant value than buyers can achieve by purchasing individual products separately. From the customer's perspective, solutions serve as a restricted type of outsourcing that enables them to concentrate on their primary business activities. Suppliers view solutions as a viable option to counter the rising commoditization of products. The supplier faces establishing an efficient organization to package and distribute the solutions (Dev & Schultz, 2005).

Hence, evolving the solutions entails the company's capacity to enhance existing solutions and introduce novel ones progressively. For instance, individuals can consume water by directly accessing it from the tap, purchasing bottled mineral water, or utilizing a novel application that converts tap water into mineral water by introducing more minerals. This innovative approach enhances the available choices.

This event is contingent upon the corporation identifying an appropriate resolution to meet the specific demands of the new customers and implementing novel technological advancements. Internal innovation occurs within a corporation when it produces a new solution by examining new client demands and requirements (Dev & Schultz, 2005; Kotler et al., 2021). The significance of this element is increasing and strongly associated with the current digital marketing era due to its ability to provide value in a highly competitive and rapidly evolving technological landscape.

5. Engage the Brand

The notion of brand identity has garnered significant attention, and presently, most organizations have explicitly delineated their brand identity inside their corporate documentation. The idea of Brand Identity has expanded to include other previously explored theories, such as positioning, relationship, and brand personality. The brand identity rules delineate the aspects of the brand that should remain consistent and the features that can be modified, enabling brands to adapt over time (Kotler & Pfoertsch, 2006; Aaker, 2009).

Engaging the brand refers to strategically incorporating a company's product/service to attract consumer attention and highlight its superior value and advantages over competing brands within the sector. Brand engagement can occur at any point in the business process, as the actions of a company can always be differentiated from those of another brand. Hence, it is imperative to uphold the company's favorable reputation. Furthermore, this phenomenon occurs in all types of company settings, whether online or offline, utilizing analog or digital platforms (Kotler et al., 2021).

In today's digital marketing era, this feature is increasingly crucial and strongly associated with success, as the fundamental factor that sets brands apart is the level of trust they inspire. Today, characterized by intense rivalry and the availability of technology solutions at any moment, the primary requirement for a firm is to have unwavering confidence in the quality of its products and services. In contemporary society, brand trust has become the paramount currency for business and interpersonal interactions (Kotler & Pfoertsch, 2006; Kotler et al., 2021).

Harnessing Customer Requirements for Value Creation in the Digital Age

Customer requirements encompass the fundamental understanding of client issues, market prospects, and essential components necessary for the organization to develop effective solutions von Stackelberg, (1938). Business encompasses the process of manufacturing and selling a product and the crucial aspect of generating value. These values are derived from comprehending the customer's requirements, having extended access, and engaging in knowledge exchange. Thus, it constructs a holistic solution that is beneficial for clients. Furthermore, when clients clearly understand the solutions provided, it fosters brand trust (Aaker & Joachimsthaler, 2012).

Once those criteria are met, the organization can develop customized customer solutions. Matching the solutions to the client's preferences will cultivate consumer trust, enhancing the company's worth. More precisely, the values necessary for the organization include customer loyalty, profitability, employee satisfaction, the company's image, and a focus on sustainability (Apte & Sheth, 2016).

Therefore, if the company combines the revolving framework for digital marketing by first implementing the Marketing Mix 4P to promote its products and then incorporating the Marketing Mix:5E elements along with additional customer requirements in the inbound marketing section, the company may effectively execute its marketing strategy and enhance knowledge exchange with customers. This approach can lead to a more excellent perception of value creation among customers, positioning the company as a preferred choice due to continuous access and generating more value for customers by developing solutions. Ultimately, this can result in brand trust and the generation of value for the company from its customers (Kotler et al., 2021).

How 5Es Marketing-Mix are influenced by the digital age?

At the latest Humanistic Marketing conference, Ivan Ureta introduced the novel marketing mix framework (Kotler et al., 2025), often known as the 5Es (Ureta, 2006; Kotler et al., 2021). This framework offers a comprehensive marketing strategy combining many pre-existing marketing mix frameworks. With the onset of the digital age, businesses have experienced substantial transformations in their operational methods and client interactions. Hence, it is feasible to adapt and customize the 5E Marketing Mix frameworks to align more effectively with the digital realm.

To successfully execute the 5E Marketing Mix, it is crucial to comprehend the interaction between digital technologies, customer behavior, competition, industry trends, organizational abilities, regulations, and globalization. By synchronizing the model with these aspects, firms may generate value and fulfill client requirements in the digital era. The subsequent depiction elucidates how the models will be influenced.

Influence on the 5E Marketing Mix

 Engage the brand: In the digital age, there are many chances for businesses to communicate with consumers through online platforms like social media, email marketing, and interactive websites. To forge stronger connections with consumers, brands can produce exciting content, customized experiences, and open conversations (Kotler et al., 2021).

 Exchange knowledge: Companies may now collect an immense amount of information on customer preferences, behaviors, and demands thanks to the digital era. Businesses can use data analytics and customer insights to provide personalized suggestions, exchange pertinent information, and enhance the customer experience (Kotler et al., 2021).

 Expand value: Digital platforms provide creative methods to increase the value proposition. Companies can increase the perception of the value of their goods or services by implementing loyalty programs, digital coupons, and targeted offers (Kotler et al., 2021).

 Evolve the solution: Companies may continuously enhance and evolve their services in response to customer feedback and shifting market trends thanks to technological advancements and data-driven insights. Businesses can conduct real-time A/B testing and collect consumer input using online surveys to improve their solutions (Kotler et al., 2021).

 Expand the channels: The digital era gives brands access to various channels for connecting with and engaging with consumers. Social media, smartphone applications, chatbots, and other digital touchpoints can be used by businesses to increase their reach and improve consumer interaction (Kotler et al., 2021)

These insights lead to the conclusion that the 5Es Marketing-Mix model signifies a noteworthy advancement in the realm of marketing, specifically in addressing the requirements of the digital era. This novel framework, created during an executive marketing course at the Mannheim Business School, expands on conventional marketing mix models like the 4Ps and integrates modern data to tackle the intricacies of the current marketplace.

The 5Es model showcases its adaptability and relevance in the contemporary digital era by shifting from rigid to flexible approaches, merging outward and inbound strategies, and including branding as a fifth dimension. The aspects of exchanging Knowledge, Extending the Channels, Expanding Value, Evolving the Solutions, and Engaging the Brand provides a complete and customer-focused approach to marketing strategy in line with the linked and dynamic character of the current marketplace. Moreover, the focus on utilizing emerging information technology and acknowledging the significance of consumer autonomy and interaction demonstrates the model's adaptability to the changing business environment. The 5Es model recognizes the need for businesses to differentiate themselves from competitors by using specialized applications and strong networks. It offers a strategy framework for firms to efficiently meet changing customer expectations and stay ahead of the competition.

The literature analysis has identified the constraints of conventional marketing mix concepts, such as the 4Ps, in developing identity and fulfilling client requirements in the contemporary marketplace. The 5Es Marketing-Mix model presents a compelling alternative by acknowledging these limits and offering a more comprehensive and adaptable strategy for generating client value. As we consider the future of marketing, it is clear that the 5Es Marketing-Mix model has significant potential for organizations in diverse industries and sectors. Organizations can create sustained competitive advantage in the digital age by adopting the concepts of flexibility, customer-centricity, and technological integration. The 5Es Marketing-Mix model signifies a fundamental change in marketing strategy, providing a modern and flexible framework that is highly suitable for the requirements of the digital age. In the ever-changing marketplace, organizations face both obstacles and possibilities. The 5Es model is valuable for generating and providing customer value in a dynamic and linked environment.

Future Research Directions

Additional study is required to improve the comprehension and implementation of the 5Es Marketing-Mix model in various crucial domains. Performing empirical research to verify the efficacy of the 5Es Marketing-Mix model in various company contexts and industries will yield significant insights. This may entail conducting longitudinal research, implementing A/B testing, and conducting comparison assessments with other marketing frameworks to evaluate the model's influence on business success and consumer happiness.

Furthermore, it would be advantageous to investigate the impact of the 5Es model on customer behavior and decision-making processes. Research should prioritize investigating how the model's dimensions (namely, Exchange the Knowledge, Extend the Channels, Expand the Value, Evolve the Solutions, and Engage the Brand) influence customer perceptions, preferences, and purchase behaviors.

Exploring the best practices and tactics for adopting the 5Es Marketing-Mix model within firms could be beneficial. This may entail analyzing the difficulties and possibilities of incorporating the model into current marketing strategies and procedures.

Researching the implementation of the 5Es model in particular industries or sectors, such as technology, healthcare, or retail, would yield industry-specific knowledge regarding the model's efficacy and pertinence. Investigating the impact of digital marketing technologies, such as artificial intelligence, data analytics, and personalized marketing tools, would be advantageous in executing the 5Es Marketing-Mix model to gain a more profound comprehension. Gaining a comprehensive understanding of how these technologies might improve the model's efficiency in the digital era is paramount.

Furthermore, conducting an inquiry into the lasting effects of the 5Es Marketing-Mix model on brand equity, customer loyalty, and market positioning would yield a thorough comprehension of the model's sustainability and enduring worth for organizations. By investigating these research domains, academics and professionals can deepen their comprehension of the 5Es Marketing-Mix model and its implementation in modern marketing strategies.

References

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Received: 05-Jan-2024, Manuscript No. ASMJ-23-14373; Editor assigned: 06-Jan-2024, PreQC No. ASMJ-23-14373 (PQ); Reviewed: 21- Jan-2024, QC No. ASMJ-23-14373; Revised: 24-Jan-2024, Manuscript No. ASMJ-23-14373 (R); Published: 29-Jan-2024