We all know that good or bad marketing determines the success of a product, But have you ever wondered what the best definition of marketing is and what are the essential elements for a strategy to be successful. Today I want to help you refresh these basic concepts by telling you everything . You didn’t know (and now you do) about the marketing mix and the 4Ps of marketing . Here we go!
What is the marketing mix?
One definition of marketing that . I like is “putting the right product in the right place at the right price at the right time .” Each of these points seems simple, but there is a lot of work behind it. And for the product to work, you need all of them to be in place. A single element out of place can be a disaster for your brand.
The marketing mix is a concept that we use
to refer to the entire set of decisions that organizations must make to bring a product or service to market.
The 4Ps of Marketing
As we have just seen, the 4Ps are a simple formula for identifying and working on Mexico whatsapp data core elements of the marketing mix . Although it is not new at all (it was first proposed by EJ McCarthy back in the 1960s), it remains a highly advisable classification for quickly clarifying the core points of your marketing strategy. It is based on four different elements (whose names begin with P in English):
1# Product or service (Product)
The product or service is at the root of any marketing strategy, as it is the means through which the needs of the target audience are met: what can we offer them?
From a modern marketing perspective
it is preferable to define the product in terms of Country List customer’s needs and motivations and the benefits it brings, rather than in terms of “objective” characteristics or attributes.
Within this P of marketing we must define
the company’s product portfolio, what their life cycle is and Uruguay Mobile Phone Numbers Example they differ from the competition. Image, brand, packaging and after-sales services also fall within this key element.
2# Point of sale or distribution (Place)
Distribution is responsible for defining and managing the channels for a product to reach consumers. Strategic marketing points can range from an e-commerce to a distribution chain with physical stores in several countries.
The goal of the distribution strategy
Within this P we have all kinds of decisions regarding storage, inventory management, transportation, sales point location, offline and online ordering processes…
