Marketing Mix Structure
To Give Your Business The Best Chance,
Get Your Marketing Mix Right
You Need to Know The Four Basic Elements.
Choosing the most suitable marketing mix structure for your business will ensure your campaign has the greatest opportunity to succeed.The following will provide you with a general understanding of the four basic elements of a marketing campaign.
Products & Services.
The concept of ‘marketing mix’ goes way back to 1950’s and has continued to evolve since then.There are many more elements in use today. One change thats had a huge impact is
internet based marketing.
In some instances the line between product and service has blurred. For example is a Web-based software application a product or a service? The product and/or service that you offer needs to meet an existing market demand. Or, you need to be able to create a market niche through building a strong brand.
Pricing.
Price is paramount in your marketing mix structure.The prices of your products and/or services can have a significant impact on their marketability. Sales of everyday services & consumable products will vary as a direct result of the price. By contrast, the sales of products with a limited availability and a strong enough demand (niche products) are far less affected by price variances. This is one of the major
advantages of niche marketing.
How much more you can charge for your products and/or services can be determined by your own
marketing intelligence.
Availability.
The ease at which your customers can access your products and/or services is another important element of your marketing mix structure and will affect sales.There are many options available and, depending on the type of business that you have, can include – • Retail outlets
• Mail order
• Downloadable files & software
• Online ordering
• Television
• Direct mail
• Marketing brochures
• Trade shows
Promotion.
The manner in which you communicate your products & services to your customers will also have an impact on your sales.As the final ingredient in your marketing mix structure, selecting the best promotional option for your business is an important decision you need to make.
Low budget advertising,
public relations, point-of-sale displays, and word-of-mouth are all traditional ways for promoting a product or service. Promotion is really ‘bridging the information gap’ between buyers & sellers. Your choice of a promotional strategy will be primarily dependent upon your budget and the type of product or service you are selling. Marketing has come a long way since the 1950’s yet understanding the most suitable elements of a marketing mix structure for your particular products and/or services still remains as important now as it was way back then.
Modern Net-Wit:
"One of the most awkward things that can happen in a bar is when your beer-to-toilet cycle gets synchronized with a complete stranger" ..................................................................................Peter Kay
Return from Marketing Mix Structure page back to Low Budget Marketing Methods home page
|
