In our previous article we discussed an important question:
“How to deliver your product to the target customer ?”.
And learned the STP and its steps to have a very good way to answer that question.
Today we’ll talk about an expression called:
– What’s the Marketing Mix ?!
According to Kotler, “The Marketing Mix is the set of controllable variables that the firm can use to influence the buyer’s response”.
– Is that mean that the marketing mix expression is designed by Kotler ?!
The term “marketing-mix,” was first coined by Neil Borden, the president of the American Marketing Association in 1953.
Ok, that’s fine, but how to make this Marketing Mix ?!
First of all, we should know that it’s a set of
These variables are the 4Ps:
– Product (or service)
– Place (or distribution)
Our mission as marketeers is to achieve:
“Putting the right Product at the right Place, with the most suitable Price, the right time, Through the most suitable Promotion channel”
Is it clear now ?!
Ok, let’s explain more 😀
You have to make product/service classification for the product you’ll deliver to your targeted customer:
(variety, quality, design, features, brand name, packaging, services).
**You’ll find in the 1st comment a product classification chart.
Is to set the purchasing price for your product/service through setting:
(list price, discounts, allowance, payment period, credit terms).
Is to decide where is the right place to put your product/service to be available to your customers through:
(channels, coverage, assortments, locations, inventory, transportation, logistics)
To know how to promote your product/service.
(advertising, personal selling, sales promotion, public relations)
Finally we did it. Yes 😀
But, does that way concern only by the seller point of view ?!
Where is the customer point of view ?!!
Unfortunately, Yes it concerns only by the seller point of view, but if you want to make a strategy to know the customer point of view
you have to learn how to make the 4Cs strategy which is our next article’s topic 😉
So stay tuned for tomorrow’s Marketing Article about the 4Cs 🙂)
if you still need more explanation about the marketing mix ask me any question and i’ll answer it 😉, or read a detailed article about the marketing mix from here: http://goo.gl/dfpI7F