What is the Marketing Mix and what is it for?

In order to project a brand or business and gain a good positioning, we turn to marketing, which is a set of strategies that study the best way to impact the market. But when we talk about marketing mix (marketing mix), we go one step further.

It is not only creating an action plan to launch products or services to the market, but to grab all the attention of the public and to establish an engagement with each customer by supplying all their needs and desires, because a satisfied customer will come back for more.

In fact, the word “mix” evokes in our memory a varied or “mixed” meaning. Based on this concept, the idea of marketing very broadly or globally, without leaving any loose ends,

But what is the Marketing Mix? And more importantly, what is it for and how to put it into practice?

What is the Marketing Mix? The marketing mix

The marketing mix is a marketing mix with a very complete system that has as its main objective to launch a product or service; with full prominence of the brand that represents it, in the right place, at the most convenient time, with an unbeatable competitive price. Obviously to achieve these objectives can not be left to chance.

This great strategic plan allows visualizing in a general and at the same time specific points that need to be strengthened. The most relevant aspects that can be analyzed are: Consumer assistance, Product preparation, warranties, sales centers, warehouses, etc.

As with marketing strategies, this one is based on the 4 fundamental pillars of commerce: Product, Price, Promotion and Placement. Despite this, the technological contribution in the commercial development has allowed the inclusion of other elements that inject power to sales tactics, but we will talk about this later.

What is the purpose of the Marketing Mix?

The marketing mix; through a detailed study in the internal planning of the company, leads to the understanding of its current situation and be able to make very successful strategic moves in the short, medium or long term based on the results obtained.

The marketing mix bases its actions on the analysis of the commercial environment and of active and passive customers. The result of any applied decision must have as a consequence to motivate the customer to become loyal to the brand.

For this reason, the marketing mix is highly adaptable in relation to the cost of promotion, product advertised or even the type of audience to be targeted.

New Marketing Mix Fundamentals

A moment ago I commented that, with the technological evolution and the emergence of the Internet with all its benefits, new elements have been integrated that have strengthened the foundation of the 4 Ps of Marketing. And as if it were a coincidence of destiny, 4 additional P’s have been integrated: personalization, participation, predictions and peer to peer.

This is not to say that the first 4 fundamentals are obsolete. Rather, they are new foundations that are integrated into the existing ones to give greater power and stability to the sales strategy.

As these new fundamentals have been brought about by the Digital era, this is why we now talk about the Digital Marketing Mix. Let’s briefly go over what each one consists of.

Customization

This pillar is based on the need to create products to fully satisfy the customer.

But how do you personalize a product so that the majority of people are attracted to it? Thanks to the powerful tool of the “Internet” it is possible to record the experience of cybernauts in a segmented way, and this fact allows to take advantage of all that data to generate an advertising that is really attractive.

A palpable example of this technique are the suggestions made by the company Amazon for the search of products that may interest us. How can they know the trend of our tastes? This is derived from the various tracking tools that allow the portals to discover the interest of each person.

Participation

Social networks play an essential role in this aspect. Thanks to them, it is possible to create large groups or communities that will benefit from the content we can impart, while taking the opportunity to present advertising campaigns. In addition to this, it is possible to establish participatory links between customers and the company.

It is becoming more and more common to allow the public to decide together on aspects such as: logo designs, brand colors, product presentation, etc., and all this thanks to the contribution of Engagement or people who were taken into account. It is logical to expect greater loyalty.

Predictions

We are not talking about tarot card reading or the magic ball, predictions is a tool that is giving very good results for Marketing Mix.

It consists of close tracking of the consumer audience. Imagine the wide range of possibilities you can have within your sales strategies if you know: where they are looking, what product they are buying, how they are acquiring the product, what is the most recurrent contact, etc.

All this information will allow you to know how to conduct yourself in the commercial environment so that the public sees you, you are attractive to their eyes and finally decide for you when making the purchase.

There are a variety of tools you can have to achieve these goals, but one that is very popular and is being integrated into most servers is Google Analytics

.

Peer to peer

Peer to peer, or what in this context would mean “peer to peer”, is the recommendation made by a third party; who is not part of the company, but passes on their experience directly to other customers.

The opinion of the public that has purchased the product or service and is now willing to share their experience is taken into consideration. This recommendation system is very successful, it is impressive the convincing power that can have the comments of other consumers, they are often decisive in the final decision of the undecided customer.

It goes without saying, that the product must leave true satisfaction in the consumer. Otherwise, negative comments; far from gaining popularity in sales, will sink them. The product or service must certainly live up to the promotion made in the advertising campaign.

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