This article is dedicated to you who want to get knowledge about basic marketing mix and how to using it in your business. You will know the things below:

1. Marketing mix definition

2. The element of marketing mix (marketing mix classification).

3. The examples of every marketing mix element.

4. Using marketing mix in your business.

5. 4 Cs as an extension of marketing mix.

Now, let's go to the main subject.

Marketing mix definition

What is marketing mix? What is the purpose of marketing mix? How is marketing mix implemented in the business? There are more questions I have got from college student. So, for the shake of effectivity, I answer them here.

Essentially, marketing mix is business tool. Tool that is used to implement a marketing program. In other words, marketing mix is a business tool that is utilized to market your product or service.

What is the goal of marketing mix?

Marketing mix is a combination of marketing tools that are used to satisfy customers and company objectives – that is to say the main goal of marketing mix is to make your customer happy and then meet your business objectives.

The element of marketing mix

Marketing mix elements

Formerly, there are four P components that is introduced by E. Jerome McCarthy in 1960. They are Product, Price, Place, Promotion.

1. Product

Product is an item which is created to meet the needs of customer. There are two approaches how company create the product, they are:

a. Company tries to create the product first, and then create a market or find a market.

b. Company perform a research to find out what customers need , and then develop the product to be delivered to them.

The excellent product is a product or service that provides value for the customers. A product or service that really meet customer's expectation.

2. Price

The price is the amount which people is willing to pay for using your product or service.

The successful company has good pricing strategy. The thing you must remember is your pricing needs to be competitive. I repeat again your pricing must competitive (not the cheapest but competitive).

One thing to remember also, your price reflects your product. It represents product itself, packaging, value, materials, brand, etc.

3. Place

Place in marketing mix means distribution. Your product has to be available in the right place. The flow of the product must be clear, from finishing goods area, storage, inventory, distribution channel, to shop/market.

The shop must be convenient for the customer to buy. Therefore, you have to manage your distributor, wholesaler, reseller, etc. so that the customer feel easy to get and buy your product.

4. Promotion

Promotion is the process a companies communicate with their customer. The processes comprise product, branding, public relation, advertising techniques, company identity, marketing and sales, exhibitions, etc.

The fundamental goal of promotion is giving the potential customer an exact reason to buy your product rather than others.

Communicating your product's features is important, but the more important thing is communicating your product values and what benefits that customers will get.

The process of communicating to people is not only marketer's responsible but also all the member of company. Therefore, start from junior staff up to CEO (stakeholder) must be involved in this communication process.

Marketing mix elements examples

Samples of product in marketing mix

A product in marketing mix comprises below things:

1. Product design

2. Features

3. Technology

4. Usefulness

5. Value

6. Quality

7. Branding

8. Packaging

9. Accessories

Items of price in marketing mix

Price contains items below:

1. Skimming price

2. Penetration price

3. Psychological price

4. Follow the leader price

5. Relative price

6. Odd price

I have written about pricing concepts for your insight, you can also read in another source if you want to go deep into pricing concept and strategy.

The variety of place in marketing mix

Kinds of place are:

1. Peer to peer (direct to end-user)

2. Direct sales

3. Internet (e-commerce)

4. Wholesale

5. Retail

Examples of promotion in marketing mix

Promotion comprises the things below:

1. Joint ventures

2. Free gifts

3. Exhibition

4. Direct mailing

5. Door to door

6. User trials

7. Endorsement

8. Advertising

9. Special offers

10. Internet marketing

11. Social media marketing

Using marketing mix in your business

Creating a successful marketing mix that will increase results often need experimenting and market research. The combining and coordination of these elements will be more effective than depending on one element.

We must arrange all elements so that the potential consumer is not being had confusing messages. All elements must contain the same message in communication process with all the customer.

Sample of marketing mix

Suppose you are a trader that specializes in garment industry. The products that you offer fulfill the needs of busy woman. Your price is competitive and your magazine advertisements and promotions are being placed in famous magazines.

Please remember that you must serve to a busy woman (your niche market) and fulfill her needs.

Use the correct pricing strategy. Usually busy woman is working and interest the best career, so that he has no time to shopping.

So, you have to develop the easiest distribution channel for her, for example online shop. Then provide her the easiest buying process starting from product display, checkout process, payment process, and delivering process.

The faster buying process, the more you can earn from this niche market.

Define Your Customer Before Market the product

If you do not classify your customer, you're just throwing your marketing budget (money) away.

Marketing isn't just a matter of placing ads. It's a method of attracting new consumer. You have to know exactly whom you want to target in your marketing process.

Example of marketing mistake (because you haven’t defined your customer before marketing):

What's the point, for instance, in buying an advertising spot on TV if you're trying to sell whitewater rafting adventures? Are these sorts of people really going to be sitting in front of the tube?

Define your customers by getting to know everything you possibly notice about them. Think carefully about your product or service. Who would want exactly to purchase? How old is this person? What is her marital status? Where does she live? How does she like to spend her spare time? What are her hobbies? What other products does she buy? Where does she go on vacation?

You can visualize her in detail. "See" what he or she does, thinks, and wants. If you can't visualize this person clearly and distinctly, then you need to research your potential customer or client until you get comprehensive insight.

How To Find your Target Market

This can be found by asking the following question, "Who are my customers? Who will buy my product?"

The most successful small businesses understand that only a limited number of people will buy their product or service. We have to determining exactly who those people are, and 'targeting' the business's marketing efforts and dollars toward them. We can do that by identifying and serving a particular customer group – our target market.

Those are marketing mix fundamental which is needed to know. After knowing this, you have to implement it as a part of marketing activities.

Marketing mix transformation to 4 Cs

In 1990 Robert F. Lauterborn propose a new concept as a development of 4Ps. He announced 4 Cs instead of 4Ps. It is not a part of marketing mix, but as an extension of marketing mix.

1. Instead of product, he introduces customer value.

2. Instead of price, he introduces cost.

3. Instead of place, he introduces convenience.

4. Instead of promotion, he introduces communication.

You can read about 4C here.

Marketing mix summary

1. The definition of marketing mix is tool to market your product or service in order to satisfy your customer and achieve business objectives.

2. Marketing mix classification: product, price, place, promotion.

3. 4 Cs as extension of marketing mix, they are:

a. Customer value (extension of product)

b. Cost (extension of price)

c. Convenience (extension of place)

d. Communication (extension of promotion)

That's all. Now I hope you get the basic knowledge about marketing mix.

You can read 4 Ps, 7 Ps , and 8 Ps of marketing mix for more insight about marketing mix. Some of marketing mix theory is got from here, so you can read directly there for more detail.

Thank you for reading.