The Marketing Mix
The marketing mix is how we build our marketing strategy. It is the mix of elements that marketers use to formulate a marketing strategy.
The marketing mix has many models. The 4Ps model is the most widely accepted. The 7Ps and 4Cs marketing mix are also accepted models.
The 4Ps Marketing Mix
The 7Ps Marketing Mix
What is a Product?
A product is a good or service that satisfies a need or want to a target market.
It’s a solution to a markets problem. It can come in the form of a physical good, a digital product, or a service.
What is Price?
What is Place?
What is Promotion?
What is People?
What is Process?
What is Physical Evidence?
As a component of the marketing mix, physical evidence is the location and environment where the company and customer interact in the exchange of the product.
It is most pertinent to service products.
What is Consumer?
What is Communication?
Communication is the process by which a company communicates with their customers.
As a component of the 4Cs marketing mix, this not only includes the traditional one-way communication flow of promotion. But, it also includes the concept of two-way communication with customers.
What is Convenience?
Convenience, as a component of the 4Cs marketing mix, is how convenient it is for a customer to purchase, acquire, or use a company’s product.
Convenience addresses all aspects of the buying experience. That includes finding information about solutions to the customers need.
Areas of Marketing
What is Content Marketing?
Content marketing is providing valuable content to our prospects and customers. Not a new marketing channel, but one that has gained significant traction in the last decade.
Also, it generates a positive ROI.
What is Product Marketing?
What is Business Development?
Business development is about generating value for the business.
The value is generated from three key areas, including our customers, building relationships through things like partnerships, and developing markets.
What is Advertising?
Advertising is sponsored communication about a product. It’s a message to a targeted audience.
It is most common that a company purchases space in order to promote a particular product or message.
What is Account Based Marketing?
What is Business to Business Marketing?
Business to business marketing, or simply B2B marketing, is the process of marketing and selling products to businesses. These products and services allow companies to create, build, manufacture, and market their own products.
What is Business to Consumer Marketing?
What is Brand Marketing?
What is Channel Marketing?
What is Demand Generation Marketing?
What is Digital Marketing?
What is Direct Marketing?
Direct marketing is a marketing strategy which presents information about a company, product, or features directly to the end users.
This is a form of marketing that directly reaches the target audience.
What is Growth Marketing?
What is Guerrilla Marketing?
Guerrilla marketing is a marketing strategy that uses unconventional, lesser known tactics to generate high results with little budget.
The fundamental principle to guerrilla marketing is that there is little to no budget.
What is Outbound Marketing?
What is SEM – Search Engine Marketing?
What is Marketing Operations?
Marketing operations is a function within a marketing organization that focuses on data, processes, technology, and budgeting for the marketing organization.
It is the backbone of the marketing team that ensures all the creative, value driving work functions seamlessly across the organization.
What is SEO – Search Engine Optimization?
Search engine optimization (SEO) is the process of making your content and website visible on the internet by the most, right people.
The people that find your content, as it relates to SEO, is organic traffic. This is the traffic that comes from people searching on internet search engines.
What is a Marketing Campaign?
A marketing campaign is a set of related activities used to achieve a specific marketing goal.
The activities within a marketing campaign are usually planned and executed so that they work together.
What is a Marketing Channel?
A marketing channel, or a distribution channel, is the mechanism that moves products from the manufacturer to the end consumer.
Often, this is referred to as distribution or place in the marketing mix.
What is Copy?
Copy, in the context of writing, is written text. This includes digital and print text. It is most commonly used in the world of marketing and advertising.
But, it is also used in the traditional publishing.
What is Copywriting?
What is a Value Proposition?
A value proposition is the reason a prospective customer should buy from you and not your competitors.
It is a statement of promise for what your product or service will deliver to your customer.
What is Consumer Behavior?
Consumer behavior is how consumers interact and behave when purchasing goods and services.
The concept refers to all the activities, decisions, and factors that a consumer makes during the buying process.