Marketing mix

Adopt a marketing plan is like building a house cause you will need to choose the right place and start planning and preparing the building components, and this is exactly what happens when you adopt a marketing strategy because you need to do a comprehensive study of the target market and then you can determine which marketing elements you will focus on more in the marketing mixĀ 

But first, before engaging in the concept of the marketing mix and its details, we should clarify the difference among three important definitions, namely: need, desire, demandĀ 

Need: it is what is associated with basic and ongoing human needs, such as the need to eat or communicate with others and form relationshipsĀ Ā 

Desire: the solutions that are available to a person to meet his needs, such as the feeling of hunger, it is a need, but if you want to eat fish instead of meat, this is the desireĀ 

Demand: is the purchasing power that consumers have when they want to buy a product, customers may have needs and a desire to buy your product may appear, but desire without purchasing power remains a desire and can’t be included from the expected demand of your company

What is the marketing mix?

Marketing comes as one of the most influential and comprehensive fields, it goes beyond the concept of promoting or advertising a product or service and even includes a wide range of strategies and methods that are used to satisfy the needs and desires of potential customers and direct them towards the desire to buy the product or service providedĀ 

The marketing mix is a set of elements that together form the tools that help any company in implementing its marketing plans, and it consists of four main factors that affect and are influenced by each other, namely: product/price / Place/promotion and in the case of the organization providing services, three additional elements are included, namely, people /processes /physical evidence that form the comprehensive marketing mix “7P’s”

marketing mix elements

1- product Ā 

The product is the main goal of any marketing process, as the company works to study the needs of the market and thus develop the product according to the level of quality that suits their current and future needsĀ 

2- priceĀ 

The price represents one of the crucial pillars that determine the extent of demand for buying, as it relates to the revenues and returns achieved from the sale and the investment potential of the companyĀ 

During the pricing process, you must take into account a price that covers your profit and at the same time corresponds to the purchasing power of your target audience and is consistent with the value and benefit you provideĀ 

Many factors play an influential role in the pricing process, includingĀ 

  • Production and raw material costsĀ 
  • Competing products in the marketsĀ 
  • The value and benefits that consumers get
  • External factors and influences associated with a particular geographical areaĀ 

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3- PlaceĀ 

The place represents the sales and communication channels where customers need the availability of the products they need in the right place, at the right time, and at an acceptable costĀ 

Ā The first step to choosing where to be present and sell is to determine where your customers are looking for the services you provide, whether on social media, on e-commerce sites, or physical outlets in commercial markets

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4- promotionĀ 

Promotion is a set of marketing activities for products or services provided by a company to reach consumers while convincing them that it is the effective option to eliminate all the problems they suffer

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5- peopleĀ 

Suppose the company provides a service to its customers. In that case, the company’s employees are one of the most important additions to the marketing mix to provide the best services to customers by emphasizing to the Customer Support Team, Marketing, and others that they must work harmoniously and in full cooperation to contribute to achieving the organization’s goals.Ā 

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6- operations: it is intended to improve all procedures and activities that can bring benefit or value to customers

There are 3 types of operations in the organization

  • Direct activities: it is a study of customer reactions after trying the company’s productsĀ 
  • Indirect activities: represent the support that the organization provides to its customers before, during, or after the provision of the service
  • Technological processes: represented by the production process of all tangible productsĀ 

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7- physical evidence: it consists of all the physical elements present at the product distribution place, such as the company logo, cover design, and user guide. physical evidence helps to leave an impression of the level of quality available in addition to having a special role in the mental image that your brand goes in the mind of your customers.

The importance of the marketing mix

The marketing mix helps identify and work on the organization’s priorities while discovering the most effective way to acquire customers and increase their loyalty to your brand, as itĀ Ā 

  • Helps in adopting the appropriate strategy for the organization in line with market requirementsĀ 
  • Expanding the scope of sales operations based on the purchases of target customers and their locationsĀ 
  • Excel inĀ  the competition by gaining a larger percentage of the market shareĀ 
  • Identify the strengths and weaknesses to determine the competitive advantage of the product or service providedĀ 

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Although the preparation process of the marketing strategy by carefully adjusting the elements of the marketing mix in the correct form takes a lot of time and effort, doing it well will put any material costs or losses at a minimumĀ 

If you want to achieve the goals of the organization efficiently and effectively, you have to invest your time and effort to prepare your marketing plan in an integrated manner based on specific marketing elements following your company and its related industry.

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