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What is a successful marketing mix?

What is a successful marketing mix?

 

A marketing mix is a general marketing strategy, that is, one that focuses on more than one angle in brand marketing, while some strategies take one aspect (for example price) as a basis in product promotion, a marketing mix takes at least four factors _ there are those that bring these factors to seven or eight _ these factors are: product, price, location, advertising.


And on it, you just need to create a product that a certain group of people wants, offer it for sale somewhere that the same people regularly visit, price it at a level proportional to the value that they feel they are coming out of, and do it all at a time when they want to buy it.


This may be easy, but in reality it is not; getting to the previous equation, and competing through these four components is certainly not easy; imagine that you are competing with almost everything, the brand probably needs to be very well established to be able to use this marketing mix.


The 4Ps program (product, advertising, price, location) is considered the best way to determine the marketing mix, which was first expressed in 1960 by “E. J. McCarthy "in his book" basic marketing: a management approach”.


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Product


Here the product is measured on the wishes and needs of customers, in the sense that it is important, at this point, to know what the product actually offers, and what customers want from it? What features distinguish this product from others? And what are those features that must be present, but it creates them?


And also: are there features in the product that the customer will not use? And is it expensive? Not to mention that it is important to know how customers use this mix and make use of them.


In short: the task here is to make sure that the product is absolutely perfect for customers, and it meets all their needs, otherwise you won't be their need.


successful marketing mix


Place 


It is important to make sure that it is displayed in the right place, and the right place here is the place where customers see it best, and also intensively.


Of course this issue is taken into account when drawing up the marketing plan of the product or brand, and it is also not right to rely on the quality of the product alone and neglect the place of its presentation, perhaps this will lead to a fiasco.


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Price 


Pricing is the most sensitive issue in almost the entire marketing mix; it is directly related to the payment of money, errors in it are usually disastrous, and a common mistake here is to lower the price of the product in the hope of raising its spread rates, while this will only cause potential consumers to doubt the quality of the product.


It is important for marketers to make sure that the price set for the product is commensurate with its quality and the extent of the services it provides to the consumer, on the one hand, and that it is commensurate with the capacity of the target segment in financial terms.


Promotion


It is not hoped that a product will succeed unless there is a systematic and organized promotional and advertising effort, and in this context it is important that marketers think about the marketing message they want to deliver through this or that promotional campaign, and that it reaches the target audience properly.


It goes without saying that advertising is the bridge through which the product crosses to the consumer, and the absence of this bridge/ channel means that the product will not leave its place in the company's stores.


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