Marketing Mix

The marketing mix is probably the most famous phrase in marketing. The elements are the marketing 'tactics'.  
 
The marketing mix is probably the most famous phrase in marketing. The elements are the marketing 'tactics'. Also known as the 'four Ps', the marketing mix elements are price, place, product, and promotion.

The concept is simple. Think about another common mix - a cake mix. All cakes contain eggs, milk, flour, and sugar. However, you can alter the final cake by altering the amounts of mix elements contained in it. So for a sweet cake add more sugar! It is the same with the marketing mix. The offer you make to you customer can be altered by varying the mix elements. So for a high profile brand increase the focus on promotion and desensitize the weight given to price.
 
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Some commentators will increase the marketing mix to the 'five Ps', to include people. Others will increase the mix to 'Seven Ps', to include physical evidence (such as uniforms, facilities, or livery) and process (i.e. the whole customer experience e.g. a visit the Disney World). The term was coined by Neil H. Borden in his article 'The Concept of the Marketing Mix' in 1965.

How to apply the four P's to your business
What is your marketing mix to create a unique identity for your business that attracts and retains customers?

The following steps will help you define your marketing mix:

  • Identify your target market.
  • Determine what the target consumer desires.
  • Assess whether you have any advantages over your competition in delivering the desired service.
  • Choose the position that is most valued by the consumer.
PRODUCT PLACE (DISTRIBUTION) PROMOTION PRICE (COST)
Features Location Publicity List Price
Optional Services Frequency of Service Sales Promotion Discounts
Product Quality Transportation Personal Selling Credit Terms
Staff Quality Distributors Advertising Inclusive/Not
Style Inventory Mailing List
Brand Name
Packaging Don't Forget the other 'P' - People!
Guarantees
 
Market Position
Your market position is one or more selected benefits or features that make your operation unique and different. Possible Positions for Marketing Your Business :-
  1. The feature that makes your product or service different than the offerings of competing attractions
  2. The length of time your organisation has been in business
  3. The unique people involved in your operation
  4. Your location
  5. The size of your operation
  6. The benefits of your product or services
  7. The services of your organisation
  8. Your price
  9. Your reputation
  10. The lifestyle-defining aspect of your offering

Printed products form an important part of your marketing

Print is one of the most effective ways of communicating your messages to your customers, here are a few of the parts it can play in helping your business to achieve success.

Product :- Labels, Packaging, Boxes, Instruction manuals

Place :- Posters, Banners, Signage

Promotion :- Leaflets, Flyers, Brochures, Point-of-Sale display, business cards, letterheads.

Price :- Pricelists