Contrary to what many people think, the concept of marketing is based on matters and concepts that are much broader than just promoting a product or brand. The stage of production, financial management, logistics, and data analysis also forms part of this field.
So this mix is a very important concept for every business, whether financial or online. For this reason, we thought about writing this article about this mix. Continue reading to know the details.
In fact, As we explained at the beginning of the text, marketing is a very broad field and includes a lot of things that go beyond merely promoting or advertising a product or service. Rather, it includes a wide range of techniques, tactics, and methods that are used that affect the user or visitor (the potential customer), and drives him to want to buy the product.
In fact , we can imagine that a Marketing Mix is a tool or concept that includes all the elements that make up activities and marketing.
These pillars are known as (4Ps), i.e. marketing pillars, and they must always be in equilibrium in order for the company or organization to reach to achieve its ultimate goal which is to arouse the desire to buy and sell to people.
So to make it easier for you to understand this strategy, we will get to know each of these marketing elements in detail.
So the first pillar of the marketing mix is the product or service, that is, what your company offers to its audience.
But this pillar not only talks about the product, but also extends to the value that it can bring or bring to consumers and customers.
In conclusion, in a way that goes beyond the topic of quality and quality, and with the best resources and technologies, then it is essential that this product or service be able to solve the problems faced by the consumer.
When you clearly define and explain the characteristics of a product, it becomes easier to develop attractive and useful strategies that are targeted to the target audience or target audience.
In fact a description of your products or services, we remind you of a set of useful and important details:
The aspects that your product or service can meet and secure for the public and consumers.
So one method by which a product or service can meet these demands (its functions, advantages, benefits).
How can people and customers use it and benefit from it?
• The detailed characteristics that distinguish the product or service: the name, formal or moral description, and the formulas and forms upon which it is based.
• The characteristics that distinguish a product from the products that competitors offer you.
In fact The second pillar of the marketing mix is the price, and it is one of the important pillars that really determines the popularity of the product.
This pillar relates to revenue and returns from sales, the company’s investment potential in business.
It is also responsible for the outlook and impression that potential customers will have on the product or service in the market.
During the process of putting the price on the product
Products similar to it in the market, and this price must also be consistent with the value and interest it provides to customers.
When a product is scarce on the market and offers many benefits, such factors are reasons justifying a possible price rise, for example.
We have also an article on the subject of product pricing. We advise you to read it and get to know the details of this important marketing corner.
Factors that also determine the price of a product or service and affect it:
Production costs, labor and raw materials
• The value and benefit it brings to the consumer
• Competition and products that compete with your product
• The factors and influences that may always play in price changes and fluctuations, such as: festive seasons, distinguished customers, geographical regions, purchasing power … etc)
So the third pillar of the marketing mix is the space or place. This corner is also responsible for the way the potential customer or consumer accesses the products or the brand. That is, this pillar is directly related to the sales and distribution channels.
Determining the space or location is much more complicated than opening a virtual or physical store. This process includes identifying where people may be interested in your products or services, presenting and displaying them in places that will be visible . then visible to them, and which can be purchased.
The first step in identifying distribution channels is to discover the places potential customers use to search for the products and services they offer: Do they use social media or social media? E-commerce sites or point of sale and physical stores?
Next, you must determine the necessary logistics to meet these demands and secure products and services.
We also leave you with some questions that can help you determine the place or space element:
• Is it also necessary to increase the number of members of your sales team?
• What tools and equipment must be provided to distribute products in the best places?
What are the aspects and points that can be allocated in each channel to also obtain positive results or increase such results?
In fact a fourth pillar is promotion, this corner is not related to special offers and sales, but it is related to the business and promotional procedures and marketing of the brand and the products that it offers.
It is imperative that you put in place appropriate and correct procedures and actions that make the potential customer recognize your product and see it as an effective and useful option to also eliminate all problems that it suffers from.
Here are a number of the ways you ought to go and truly assist you manage your promotional business:
Determine the simplest promotional channels: the social media tools that potential customers use frequently or determine the places that the potential audience frequently visits and is present in.
Find the times and times that are most recommended for promoting and marketing your business
Check the actions and procedures which will get you the simplest results, discover the simplest types and formats of contents which will assist you present your works and products within the absolute best way: image: text, video … etc also and pay close attention to the language you employ .
• Take a glance at what your competitors do to market their products and services, and find out the strengths and weaknesses underlying each of their strategies without imitating them.
This information that we mentioned can assist you to urge a far better idea of the sort of action in order that it’s ready to generate the simplest results and influence your audience .
Do not forget to concentrate to the topic of mistakes that competitors may make to you, because such gaps are great opportunities to excel and excel within the market, and to satisfy customers’ needs in a superb way and exceed their expectations.
Marketing plan MARKETING RESEARCH promote your product marketing communication
After you recognize the four pillars of the marketing mix, it’s time to stress one among the facts:
The marketing mix not only is a checklist or list that contains what must and will not be done, but also helps you discover the foremost effective thanks to win customers and make them enjoy the loyalty and loyalty of your brand and products, and also helps you understand the explanations which will hinder obtaining some Results from your investments and marketing plans.
It is also possible that you simply are selling your products within the wrong places and channels where your audience isn’t . So your promotion strategy is unable to convey information and clearly explain the characteristics and benefits of your products.
But once you believe the Marketing Mix, it becomes much easier for you to speak with potential consumers and clarify the characteristics and distinctive factors of what your brand offers, during this way, you achieve convincing them that what you offer is basically ready to solve all their problems and satisfy their needs.
It is worth noting that each corner of the marketing mix must adjust and make it adapt to things that your business is predicated on. during this way, you’ll enjoy this strategy no matter the sector during which you’re employed .