What Is The Marketing Mix Really?



What is the Marketing Mix really? Saying that this consists of “4 Ps”, “7 Ps” or even “4 Cs” is simply not applicable to today's world. Nowadays there is such a profusion of sales, marketing and business models that limiting marketing this way may be asking to fail.

In this section I want to share with you a new perspective on studying the question, What is the Marketing Mix? The answer to this question should be that the marketing mix consists of all those factors which should enable you to put together a successful marketing program and is not limited to the simple ingredients of successful sales and marketing campaigns of the past.

If you limit your understanding of the Marketing Mix to the traditional “4 Ps” of Product, Price, Place and Promotion then where do positioning, customer experience, technology and interaction fit into this mix? These are the new variables that powerfully affect business today and the models I have create below provide you with possible answers to these questions.


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What is Marketing?Definition of MarketingToday's Marketing MixThe "4 Cs"The "7 Ps"Marketing Mix PromotionMarketing Mix Consultant




What Is The Marketing Mix Really?

If you want a traditional answer to the question of what is marketing mix management then you can visit the relevant sections discussing the “4 Ps”, “7 Ps” and “4 Cs” perspectives on what the marketing mix is.

The real question in studying the marketing mix in any shape or form is, how will this affect your marketing plan?. The purpose of trying to define You need to know that you have your bases covered and that you are not missing anything in putting your marketing program together.


Do you have everything you need to take your value to your customer? The question of what is the marketing mix should seek to provide you the foundation on which the rest of your sales and marketing activities will rest. That being said, will the older marketing mix methodologies still work for you today?


A New Answer To What Is The Marketing Mix?

If nothing else, we should expand on what the marketing mix is to include concepts that are relevant to successful sales and marketing nowadays. The “4 Ps” model is of a bygone era and was adequate for marketing physical products in physical locations. Today, you need something different.

In talking about the modern marketing mix you can start with the “7 Ps” and proceed to add subcategories and related factors to “flesh out” a marketing mix that is relevant in today's world. Here is what you might end up with, one view of any number of definitions around what the marketing mix is.


Today's Marketing Mix is a mix of many things more than Product, Price, Place and Promotion. You must now be aware and concerned about a multitude of factors that shape how you will deliver the value you create to the market, driven by the fundamental business forces of People, Process and Technology.

A key thing in this new depiction of what is the Marketing Mix is the interconnectedness of the various elements. The fact is that all aspects of sales, marketing and business are now integrated with each other and with society as a whole as never before.

With this in mind is is crucial to formulate a holistic view of the world and your sales and marketing efforts. You are now connected to more and responsible and accountable for more. The repercussions of your business activities are instantaneous and far-reaching and the question of what is the marketing mix must take all of this into account.


People, Process, Technology

These fundamental business drivers must be part of every strategic business calculation including the question of what is the marketing mix. To these you may add additional contextual factors, various “building blocks” that go into creating any organizational system such as Information, Ideas and Values.

People: From matchstick makers to multinational organizations, every enterprise and business person must take critical account of the various stakeholders that are affected by your actions. Your sales and marketing efforts must factor in customers, employees, shareholders, directors, investors, stockholders, partners, competitors, regulators, government, industry, analysts, media, special interests and others.

Process: This is the ”how” of your business plan and also ties into the question of what is the marketing mix. You cannot look at products and people without understanding and managing how products are made, how people will buy, how to spread your message and so forth.

Technology: The fabric of technology is woven into every facet of life including – perhaps especially – business. There is no way to factor the effect of technology out of the discussion of what is the marketing mix. Technology can play a minor role such as printing promotional flyers to vastly complex functions like online distribution channels.


Positioning

After the fundamental business drivers of People, Process and Technology the cornerstone of your Marketing Mix is not “Product” but the more inclusive concept of Positioning. Quite simply, Positioning pertains to how you create value for your customer, what you are bringing to the marketplace, how you define and differentiate yourself.

When you look at business as being a combination of Creating Value and Creating Customers for this value, then Positioning is all about the first of these. The traditional concepts of “Product”, “Price” and “Packaging” are a subset of Positioning along with any and all immediate features of your product or service as these all create value.


Promotion

The second key component in the question of what is the marketing mix is the part of business to do with Creating Customers and that is Promotion. Most people associate the Promotion function of the marketing mix as being most what they consider “marketing”. That being said, in the bigger picture marketing is also concerned with all of business as a whole.

In the above representation of what is the marketing mix, Promotion ties into Packaging, Physical Evidence – which is everything the customer can “touch” and “see” during the sales process - and all of what is considered Marketing Communications which is internal and external communications and representations that are made to all stakeholders.


Experience




It seems necessary to include Experience in the discussion of what is the marketing mix and the reason for this is that consumers nowadays are buying an experience as much as a particular product or service. It is not enough to provide an exception product or service or exceptional value to customers in a vacuum without considering everything that goes into shaping your customers' experience.

Experience includes everything from promotional and purchasing channels to customer service and support. It includes what a customer thinks and how their purchasing your product shapes their self image. Can you sell a lifestyle instead of a product or service? Can you identify closely with your target customer's most cherished ideas and values? This is what cutting-edge marketing today is about.


Interaction

In this representation of what is the marketing mix, Experience includes the traditional concepts of Physical Evidence and Place as well as Interaction which is everything in the sales and marketing process where there is a “back and forth” exchange of information and ideas with customers. Interaction is crucial in building relationships and must be a key element of all business today.

Interaction is crucial before the sale during early promotional efforts as well as after the sale during customer service and support which are key in establishing a long-term relationship. Every customer interaction is an opportunity to learn as well as teach, to glean valuable insight into the customer through process as well as assist and educate.


MARCOM

Marketing Communications (MARCOM) is sometimes seen as being synonymous with Promotion but in actual fact refers to “Communications” within the overall framework of what is the marketing mix, be it to customers, employees or other stakeholders.

Marketing Communications includes the concepts of Message, Medium and Presentation, which is everything that shapes the customer's perception of your product or service. Everything in Marketing Communications is centered around creating an integrated, interactive framework for delivering your message to the market.


Presentation

Within the question of what is the marketing mix, Presentation is a key concept and may just as well be place as a subset to Promotion as opposed to coming under Marketing Communications (MARCOM). Presentation is like the ubiquitous business concept of Quality, something that should pervade every aspect of successful sales and marketing.

By placing Presentation under MARCOM, the emphasis becomes that every way in which a customer perceives you becomes an opportunity to engage in communicating your message. This is why branding, logos, packaging, shop floors and more become key media and add to the overall idea that a customer has about you and your business and product or service.


Get help with creating the right Marketing Mix for your business!

GO TO:
What is Marketing?Definition of MarketingToday's Marketing MixThe "4 Cs"The "7 Ps"Marketing Mix PromotionMarketing Mix Consultant



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