Marketing MixPosted by asmat111 on October 5th, 2010 Marketing Mix Your marketing mix is an amalgamation of, products, prices, places (distribution channels), and promotions that are used to assure customers and company objectives. Customers often call the marketing mix "the offering." Your offer is constrained by the following variables often referred to as the four Ps in marketing: Product, Price, Place, and Promotion. 1.Product: It refers to real physical products as well as services. 2.Price: It refers to the amount that a customer has to pay for a product. This P is of a great importance and companies have to pay much attention for designing this P. 3.Place: it means distribution of products. Distribution is about getting the products to the customer. 4.Promotion: It represents the various aspects of marketing communication, that is, the communication of information about the product with the goal of generation a positive customer response. By using variations of these four gears you have the ability to reach several consumers within your target market. Designing a successful marketing mix that will boost results often takes trialing and market research. There are many methods that can be used, both in person and the use of impersonal presentations. The key is to not always depend on "one" mix always explore other avenues. The combining and organization of these elements will be more effective than depending on one. You must organize all elements so that the potential consumer is not being sent mixed messages that can cause ambiguity. At all times make sure that your marketing mix has a message that speaks in unity. For instance make sure that if you have a practice that caters to a niche market that your product is geared towards the need of that market, your price is within the budget of that market, you are distributing your product or service where it will be seen by that market, and gear your promotion to solve the problems that they are encountering. In short, one of the main keys to the success of any marketing program is the capability to work effectively in shaping marketing mixes that meet the nature and needs of your specified target market.Like it? Share it! |