What is the marketing mix?

When someone creates a product or service, they do so thinking that there is a population whose needs must be satisfied and will allow them to obtain economic benefits, among others for it. But to achieve that goal it is necessary to have a marketing mix strategy. Do you have any idea what it is and what its objective is? That is why we invite you to keep reading.

This way you will be able to know what it refers to and how useful it is to establish the manufacturer-client relationship.

WHAT IS THE MARKETING MIX?

The marketing mix is ​​a process used to define all the tools available for marketing execution and is made up of strategies focused on these four elements called the four Ps: Product, Price, Place, and Promotion. With these actions, a company promotes its brand or product in the desired market.

Although initially, they are 4P, others are currently considered such as Packaging, Positioning, People, and even Politics, as well as the 7P's of marketing services and the 4 Cs that were developed in the nineties.

WHAT ARE THE ELEMENTS OF THE MARKETING MIX?

These four elements will be explained below:

• Product: this item is created to satisfy people and can be intangible or tangible, such as a service or good, therefore you must be sure to have the right product for what is required in the market. A detailed investigation must be made of what is created so that it grows over time and remains that way as well as accepts future changes.
• Price: is the amount that the customer will pay to enjoy the product, this must benefit the company and allow its survival. You must know very well how to assign it, because remember if the product is new without knowing, customers will not want to pay a very high price but not too low either that future changes are abrupt.

When fixing them, you must answer yourself: how much was its manufacturing cost, if it is well perceived by users, and if its amount allows you to stay in the market against competitors.

• Place or place: the product must be in a place accessible to potential customers and how you can distribute it, either in the following ways: intensive, exclusive, selective, and franchise.
• Promotion: it is what allows to promote of the brand and that it is recognized and increases sales, it has the following elements such as sales organization, public relations, advertising, and sales promotion, where you can use Emailing as strategies or the storytelling

WHAT ARE THE FACTORS INVOLVED IN THE MARKETING MIX?

The factors of the marketing mix are the following:

• The price for the marketing mix strategy, which will allow you to reach consumers and the market to attack, is a competitive and attractive one that catches the customer.
• The distribution of your product, consider where it will be stored, the point of sale, and the relationship with intermediaries.
• The guarantee offered by the product.  
• The customer service.
• The promotion is given to the product to generate demand for the product.
• Establish whether the objectives are short or long term, to enable the adaptation of future changes.

WHAT ARE THE NEW “4 PS” OF THE DIGITAL MARKETING MIX?

The digital revolution has arrived, and marketing is no exception, so the traditional also experience change, then learn about the 4Ps of the marketing mix. In this, the product is left aside and the emphasis is on people and relationships:

• Personalization: products that are adaptable and designed for the real needs of the potential customer, that is, product segmentation for specific customers.
• Participation: it is about having a community of clients and taking care of it, giving it value, with good content, that allows the client to feel motivated to share them. Whether it's on social networks and it allows you to increase production, it saves you time and money, it's just changing text and copying images.
• Peer to Peer- You trust the friend and his opinion of the product that he will share with his friends, which is the best publicity you can count on.
• Modeled predictions: the consumer must be monitored to predict behavior, whether it be with the use of the Internet as a channel to communicate and promote products and services.

WHAT ARE THE “4C'S IN THE DIGITAL MARKETING MIX?

• Customer: Campaigns must add value to customers:
• Respond to their needs and desires.
• Join the goals of generating income and offering value to customers.
• Be proactive to fix.
• Speed ​​up response time.
• Thank customers.
• Listen to customers' opinions.
• Delight with customer service.
• Cost: It is the number of customers who will pay for the product, what they are willing to cancel.
• Convenience: people buy considering what is convenient for them, making it easier, simpler, and faster for customers to use products or services. It is important then:
• Make him feel good about fulfilling the business.
• The reward for business process and loyalty.
• Implement ways to connect with customers.
• Communication: it is not promoting, it is communicating with customers, involving them with significant and valuable material, which allows you to build a relationship. This can be done by interactive communication and for this, you should consider the following:
• Create a more personal communication, personalized content through a channel or the preferred channel of customers.
• Take advantage of search engines.
• Take advantage of social networks, which allow you to connect with them.
• Know the Social Media sites that customers frequent.
• Familiarize yourself culturally and socially with the site that customers are most frequently attached to. As well as knowing the language of these social sites.
• Upload really great content that appeals to a specific audience. Build a social and business relationship to hook him; In short, make him become your fan.

 

 

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