The digital concepts are many and, something that differs from what has always been known as the "techniques of buying and selling, communication, etc." it is the fact that they are changeable. In fact, marketing changes every year, it evolves, even several times in the same year. Therefore, the Marketing Mix is one of the variables and, currently, one of the most effective for anyone who wants to be successful.
But What is the marketing mix? What is it for? And more importantly, how is it done? All that and much more is what we are going to show you below today.
What is the marketing mix
The marketing mix can be defined as a set of tools and variables that are available and that help us to analyze the behavior of consumers and markets. Its objective is none other than to create actions that involve loyalty, or retention of customers, helping them with their satisfaction. In other words, it is based on creating something that is good for customers and that, therefore, they choose that company or brand over the others.
The task that must be carried out in the marketing mix is, therefore, to put a product that is what customers want, that is in the right place, that comes out at the right time and that has a perfect price. But of course, doing that is not easy because you need to know many aspects, not only of the company or the brand, but also of the market to which it is focused. And this is not easy at all.
The marketing mix strategy
When the marketing mix came out, the variables on which it acted were four. Over time, other models have emerged in which these variables have been expanded, to 7 or even 9. But really the marketing mix must be governed by four variables, all of them starting with the letter P (in English ). Once you have dominated these is when you could look at the following models to cover and improve your products.
The 4Ps model
The 4Ps model of the marketing mix focuses on four fundamental pillars for the product to be successful. These are the following:
Price. Price is always decisive. Each company can put the price it wants on its product, but we are talking about a very competitive factor because the competition also analyzes it and sometimes offers something cheaper, or something more expensive. In this case, the price must be adequate so that the expenses are covered and, in addition, have some benefit. This can have a negative or positive effect on customers; they may like it or reject it as too expensive. And it is not always good to offer a product with low prices, sometimes, in the balance is the key.
Product. It is the most important variable in the marketing mix because, if you do not offer something that customers really want to buy, no matter how well you do the other factors, it will be almost impossible for it to be successful because no one will want to buy it. Therefore, you must bring to the market something that is really new, that improves the competition that there is, that can be easy for customers to use and, also, that is useful. If you succeed, you will be successful as long as the rest of the variables put them on the right track.
Distribution. Another of the pillars is the distribution, that is to say, that this product can be obtained in many places. For example, imagine the case of Amazon selling self-published books. The distribution they have is good, but their books can NOT be found more than on Amazon and in two or three other places (no visibility). Therefore, there is not really an approach of the product to the potential clients. What to do then? Invest, get more companies, stores, supermarkets ... to sell your product. You need it to be seen, known, analyzed so that it reaches customers.
Promotion. Finally, you have the promotion, that is, the actions that you must do so that your product is known. What is commonly called advertising. If you do not invest in that, no matter how much you put the product in many places, if people have not heard of it, they will not be interested. You have to "sell" it and for this you must explain what it can do for them, how it will improve their life and why they should buy it NOW.
The 7Ps model in the marketing mix
Once the marketing mix emerged, with its four important pillars, a new model emerged, where, in addition to those four Ps, it also added three more that gave greater value to the actions that were carried out.
These were:
People. In the sense that the workers themselves also help to make the products better and to be seen as something for everyone. An example is the advertisements of a well-known household appliance brand in Spain that uses its own employees to publicize what they sell.
Process. That is, analyze how these products are consumed, how they offer a service to customers and if there is something that can be improved.
Physical evidence. That is, any document or test that is offered to customers so that they can know and validate the quality of that product.
The 9Ps model
Finally, you have the 9Ps model which, as with the previous one, in this case to all the already known variables two more are added which are also important. These are:
Participation. In the sense that you have to try to involve your customers as part of the brand, so that they feel important and, at the same time, retain that customer because you are giving them an important place within the company or brand, even if it has nothing to do with her.
Prediction. That is, anticipate everything that may come to be among the first and continue innovating so that users always get the best, whether present or future.
What is this marketing for and why is it important for companies and brands?
Really, if you analyze the marketing mix, you will realize that we talk about everything important about a business strategy so that what you sell works. Namely, gives you information about the product, about customers, about distribution channels and about your advertising. And that helps you:
- Change if necessary. So you can adapt the product, redesign it, innovate ... everything to make it the best in the market and what users want.
- Get more customers, or even give you a new opportunity that you have already had.
- Have a presence, face-to-face or virtual, and know which is best for your business.
- Have alliances with other companies.
In other words, the marketing mix is a technique in which you are not going to focus solely on what you do, but you are going to seek interaction with customers to, together, create something that really works.