The Marketing Mix What is the Marketing Mix? To understand it we have to start at the beginning. When we talk about Marketing we refer to the set of strategies that are carried out to design a product . It covers everything from the conception of the idea , through the creation of the brand , to establishing everything that surrounds and links it, whether it be price , distribution channels , communication and other elements that increase its attractiveness and satisfy the needs of the customer .
Table of Contents
- 1 The beginnings of the Marketing Mix.
- 2 Definition of Marketing Mix.
- 3 The 4 P’s of the Marketing Mix.
- 3.1 Price.
- 3.2 Product (product).
- 3.3 Point of sale or Distribution (place).
- 3.4 Promotion.
- 4 Conclusions.
The beginnings of the Marketing Mix.
In 1950, Neil Borden developed the concept of ” marketing mix ” talking about the 12 elements to be taken into account by the marketing manager, which analyze a series of variables that every company or professional must turkey whatsapp number data into account when influencing the decisions of customers and getting them to buy a product ; Later, in 1960, Jerry McCarthy simplified them to 4 classic elements, which has come down to us today under the concept of Marketing Mix or the 4 P’s that continue to evolve. Philip Kotler (father of Modern Marketing) will be the one to popularize them.
Definition of Marketing Mix.
When we talk about Marketing Mix we refer to the set of strategies or controllable instruments that a company must take into account to analyze the 4 basic variables of its activity, in order to identify the point at which it is and develop a practical advice: rest and test drive positioning and improvement strategy to meet the company’s objectives . In this way we increase the portfolio of target customers , that is, customers who are really in our products .
The 4Ps of the Marketing mix are as the policies of: Product, Price, Point of Sale and Promotion.
The 4 Ps of the Marketing Mix.
We proceed to analyze the 4Ps that revolve around the Marketing Mix :
Price (price).
To increase profits, the company must set prices in the Marketing Mixto costs. There are different ways of setting them: according to the desired colombia business directory margin, influenced by the prices of the competition, according to seasonality, fashions, advertising or affiliation campaigns , the perceived value of customers, subjective values, expectations…
Product (product).
The product that is at a certain target is as important as everything. That surrounds and covers it. In many cases, the sale is through the eyes. Its presentation will be what makes it stand out from other similar products. We are talking about packaging and accessories. Well as the guarantee and added value that is in a certain campaign, the brand image.