Video:How to Develop a Marketing Mix

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Transcript:How to Develop a Marketing Mix

Your marketing mix is a combination of marketing tools that are used to satisfy customers and company objectives. Consumers often call the marketing mix "the offering."

The Offering for the Marketing Mix

Your offer is controlled by the following variables often referred to as the four Ps in marketing:

• Product
• Price
• Place (Distribution)
• Promotion

By using variations of these four components you have the ability to reach multiple consumers within your target market.

Creating a Successful Marketing Mix

Creating a successful marketing mix that will increase results often takes experimenting and market research. There are many methods that can be used, both in person and the use of impersonal presentations. The key is to not always depend on "one" mix. Always explore other avenues. The combining and coordination of these elements will be more effective than depending on one.You must coordinate all elements so that the prospective consumer is not being sent mixed messages that can cause confusion. By looking at your marketing mix you may find discrepancies that surprise you.

Tips for Developing a Marketing Mix

Always make sure that your marketing mix has a message that speaks in unison. For instance make sure that if you have a practice that caters to a niche market, that your product is geared towards the need of that market, your price is within the budget of that market, you are distributing your product or service where it will be seen by that market, and gear your promotion to solve the problems that they are encountering. One of the main keys to the success of any marketing program is the ability to effectively shape marketing mixes that meet the nature and needs of your specified target market.

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