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Marketing Mix

Marketing Mix

Well it is known that Marketing (Trade) is a vital activity for any business. In spite of it, there are some that does not give the degree him of real importance, leaving to the luck often the promotion and projection the image of the company, as well as its products or services.

In the modest or small businesses but, there are some that worry and the promotional activities and the sales take care of, of informal way, often without meeting the technician and professional who implies, but after all doing the necessary work. Example of it is to fix an attractive price to the clients to comparison to the competition, to realise improvements to products in its essence or presentation, to obtain the good commercial premises in a zone of much circulation, to determine some poster in front of the premises with information on products, among others things.

When we observed this type of action we are in the presence of Marketing Mix or Marketing mix. It is also, to call it of another form, the Classic Marketing and one takes care of 4 flowing ones on which the work is due to develop that guarantees the profit of the commercial objectives of any business. It is necessary to consider that such objectives are oriented to the generation of economic benefits and therefore to the permanence of the business in the time.

One knows as Marketing Mix the set decisions, management, activities, tools combined by a company to achieve his commercial objectives. It is also known him as the 4 P, alluding to the four elements of which one takes care and his denomination in English. That is to say:

  • Product (Product or Service)
  • Price (Price)
  • Promotion (Promotion, Publicity)
  • It pleases (Distribution or Point of sale)

To speak of Marketing Mix implies to speak of 4P. To take care of it then is to take care of, and systematically coherent, the management on the product, price, promotion and place of a business in order of assuring the profit its objectives. The developer of this concept was Neil Borden in 1950, who originally outlined Marketing in 12 different points, being simplified (and thus also popularized) in 4 elements, in 1960 by E. Jerome McCarthy.

Product

It is the point of the spear of Marketing. Without a good product, little it will be possible to be done in other scopes of Marketing Mix. The same life of a business turns around the satisfaction of its clients, indeed through product that we provide to him. For such reason, it must fulfill all the expectations of the consumers, on which they hope of the same. In such sense, it is necessary to know this information, that it allows us to make the necessary adjustments.

Generally, when we spoke of a tangible product are three important things on which to work. These are: the brand, the package (or it packs) and the label. The brand is a very emblematic component for the product. Nevertheless, to make a brand requires of time, so that the same can be positioned. Campaigns of Marketing destined to the positioning exist exclusively name brand. This component offers image for the product by means of its name and of its logo.

When a brand has been positioned, then half of the work is had done on the product. As far as the packing it is necessary also to have a good design. To have a packing or packages nonsuitable can throw overboard everything what it has been emphasized the image and quality of the product. Not only it has a functionality, but also an aesthetic complement to the product. The labels have two functionalities.

The labels must fulfill norms and international laws of a country or. There are aspects regulated in certain products as his way of use, conditions of storage, lapsing, safety measures, content, ingredients, affections on the health (if it caused them), among others things more. On the other hand, information can aesthetically be enriched the image of the product or be added that kindness of the same emphasizes still more.

In the promotional thing, we can somewhat make use of the labels. We can in addition investigate on products of the competition and mark to our differentiation standing out the positive things of the product over the others. For it, among others elements, the label when also allowing is very useful to emphasize things as duration, hardness, additions and more. The addition of new qualities to the product can make it evolve so to a point, that it differs drastically from the original one.

This is possible, is that each product has a service life. To be faithful of strict form to the original product can entail to the stagnation of the business. One is due to be open to the changes, to the appearance of new products of the competition, among others things. On the other hand the services are different. It has a shade of much personalisation and the quality always is going to be associate to the perception of the client. As much thus, that the prosperity of the business will depend to a large extent on the loyalty that is obtained. This individual the pursuit by means of the after-sales ones enters game. A as ample subject as to dedicate a whole article to him.

Price

The management of the fixation of price is not something as simple as to take the product and to label it. The decision of the prices involves a set of variables to consider and many of them are obtained by means of the investigation of market. The fundamental thing at the time of fixing prices is the analysis of the production costs (fixed and variable). Of course, a price will not be able to be fixed if the same is below the production cost. So a good structure of costs is due to have defined.

This allows, not only to fix the price, but to get in depth to make decisions from much importance on this matter. For example, the company can see where it is possible to improve the processes, to lower the price of costs, to make more efficient the production and reasonably what is called to describe his economy as scale. Another important aspect in the fixation of prices is, logically, the competition. In addition to comparing properly products with the competition also the verification is due to do of prices in the market. Sometimes, aspirations very elevated can take to fix little competitive prices what derives in the loss of consumers or users.

The prices higher than the competition must be just in quality, in own benefits of the product or service. It also exists, with respect to the determination of prices, a denominated fixation descremaci³n strategy. The company must evaluate, according to the market and the product, the convenience of its application. This strategy consists of fixing a high price to one first stage of the exit from the product to the market. With this one goes to a sector of the market with majors acquisition resources. Then, in one second phase, the price lowers and it is managed to catch another segment of smaller resources.

Although the production costs allow to send a product with a quite low price, sometimes, this lies down to create an unfavorable public expectation in the market, because it is associated to something of little quality. If in one first stage it only can acquire it a segment with more resources, in the following phase, the remaining segment generates his aspirations or desires to acquire it, which finally will do when the product lowers of price. This type of strategy sees himself commonly with the mobile phones.

Lamentably, also some strategies of fixation of disloyal prices exist. As much thus, that practical they are prohibited in some countries. Some companies, although it seems a madness, can fix excessively low prices and until below the production costs during a time. This is not but that leaves from a greater strategy. With the sufficient financial endorsement, some companies appeal to this practice with a view to eliminating the competition. Of this form, once empowered of the greater portion of the market (or its totality), then they fix the prices to taste or being handicapped or annulling the similar companies. This it is known him as the Dumping.

Place (Distribution)

If the product has an objective market then must exist the suitable channel so that it has access. The public who is to acquire the product of our business must be able to count on the spaces where to obtain it. If legal or technical aspects force to that the production plant is something distant of the distribution centers, then it will be extremely necessary to adapt all the process of distribution.

The objective is that who comprise of the objective market they can go to a store and in its shelves to see our product and to buy it. If our business is a company on watch then we must try a good location, of such form of that the clients can find us easily. Our location must have advantages with respect to the public transport and access roads.

Our Marketing in addition must assure that our location, that is to say, in addition to promoting our products and services can be spread, is necessary that our clients know where and how they can acquire our products or contract our services. The social networks are quite usable means for this. The product type is determining on the distribution of the same. For example, a perishable product has logistics of quite delicate positioning.

It must have a good design of distribution that guarantees the arrival of the product to the client of intact form, without undergoing lintels that alter it of negative form. The subject is not only to make arrive the product, but it maintains his qualities at the time of commercializing itself. The work of investigation of market us must also provide with information to determine the best forms to distribute or to place our products or services. We must know things as places which goes the clients to acquire products as ours, if there is availability to do it in line (Internet), what distribution strategies use the competition, among others.

The distribution strategies can several according to the corporative intention. He is not the same to plan the distribution of a product already known that one just placed in the market. Also, the portion of the market that our capacity of production allows us to include will be determining in this.

Promotion

The promotion of a product (or service) must turn around three main targets: to present the product, to convince the clients of its purchase and, finally, to cause that they remember it. In those three things the promotion is due to concentrate. To present the product implies all those activities publicity and promotion in itself. The subject of the publicity is quite ample, but vitally important.

The publicity, as it leaves from the promotional component of marketing entails a great amount of resources. Nevertheless, the publicity not only contributes with presenting the product, also implies the necessary thing to try to persuade the potential clients to that they realise the purchase. On the other hand, they exist any type of promotion that is necessary, known as activities of support to the promotion. To distribute steering wheels, to go to radial or televising programs, advertising campaigns by Internet (Facebook Ads, Google AdWords), appearances in magazines, presses, in billboards, a poster from an airplane, between many other forms.

Everything what also corresponds to the Public Relations is part of the promotion. It is possible that our product or service is the best one of all, but is our work to spread it, to let know it to the public and to convince to them of it. As far as the services, the promotions of sales are used. To place a stand in a shopping mall with advisers of sales, to make telephone calls, shipments of messages of texts or by applications as Whatsapp, shipments of e-mails.

In this subject some own activities of marketing and others of the direction of sales are put into play. To the product or service a price pays attention to him. But we must present it, to also present it to the clients. We have fit the quality of the product to the exigencies of the public, ero also is necessary to inform it.


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