What is the marketing mix: concept, elements and examples

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Do you know if your company has a marketing mix? The concept may not be easy to recognize, but we assure you that you live with it on a daily basis. Below we will share information with you so that you can learn more about it.

When advising a company that was going through difficult times, we realized that a fundamental detail was missing: marketing direction and strategy. In other words, this company did not have a marketing mix. This means that although they were clear about where they wanted to go, they did not know how to achieve that goal. And this situation is common in many companies.

Table of Contents

What is the marketing mix
What is the marketing mix for?
The 4 variables of the marketing mix
What are the marketing mix strategies?
6 examples of marketing mix
Therefore, if you find yourself in a similar situation, it is essential to know exactly what the marketing mix is ​​and why it is so important for your company to have a well-defined strategy.

What is the marketing mix?
The marketing mix is ​​the set of tools that help a company afghanistan whatsapp lead achieve its objectives and make better market decisions. Through different variables, a joint effort is made to influence consumers and motivate them to choose a particular product or service.

Various factors and changes influence consumer behavior, which forces companies to constantly evolve their products or services to continue meeting their customers' expectations.

What is the marketing mix for?
The marketing mix aims to determine what actions a company or brand must undertake to satisfy customers (by analyzing their behavior).

Jerome McCarthy in his 1960 book Basic Marketing: A Managerial Approach proposed a theory on good marketing strategies, originally called the 4Ps, which were reformulated by Robert F. Lauterborn in 1990 and are known today as the 4Cs and are the variables of the marketing mix.

The 4 variables of the marketing mix
Consumer
Product cost
Convenience
Communication
The difference between the 4Ps and 4Cs lies in the greater focus on customer service. This seeks to assess the customer's wants and needs in order to please them with a product or service.

Each “C” represents one of the marketing mix variables. We explain each one in detail below:

1. Consumer
Marketing mix: consumer
Understanding consumer needs is key to any marketing strategy, so it's important to study your customer. When you focus your attention directly on them and everything around them, you can direct your product or service more effectively. This will help you achieve the success you're looking for.

If you know what consumers want and need, then you can offer them concrete solutions to their problems and better set your sales objectives.

To better define this variable you can answer the following questions:

Who is your ideal client or buyer persona ?
How does your product or service solve their needs?
What does your product or service offer that the competition doesn't?
What are the benefits of your product or service for your customer?
2. Product cost
Marketing mix: Cost
With the number of options available on the market today, the cost of your product or service is a very important element. You must analyze the amount that the customer will pay very carefully and seek to reduce it from the manufacturing process. This factor, along with others, will determine whether or not customers will purchase your product or service.

There is no concrete formula to establish an adequate and attractive cost, but you could define it based on the following questions:

What is the total cost that the customer will pay for your product or service?
Is the cost of the product or service fair?
Is the cost equivalent to the quality of the product or service?
Compared to the competition, is the cost of your product or service more affordable for the customer?
3. Convenience
Marketing mix: Convenience
This element refers to the place where it is most convenient for the consumer to acquire your product or service. It can be a physical point of sale or your website, and to do so it is necessary to know the habits of your buyer persona. This is one of the variables that has evolved the most in the marketing mix strategy. Since the arrival of new technologies, the way in which consumers acquire their products is very different and covers very specific needs.

To better define this element, answer the following questions:

How are your products distributed?
Do you have an e-commerce site?
On which channels are your products available?
Which channel simplifies the purchasing process for your ideal client?
Do you have good customer service ?
4. Communication
Marketing Mix: Communication
With the advent of social media, the interaction that users have with brands has increased. For this reason, it is important to establish a dialogue through all media and create content that allows for fluid and clear communication, which makes it possible to promote your products and services, as well as address consumer concerns. Building a cordial and healthy relationship with customers is one of the keys to the success of any marketing strategy. To do this, it is important to have an excellent communication strategy.

Answer the following questions to better define this variable:

What are your leads' favorite communication channels?
Are there appropriate communication strategies for each of the channels where your consumers are?
What is your clients' favorite communication style?
Is communication in general done with your leads in mind?
How are you promoting your product or service?
Remember that all the variables in your marketing mix strategy must work together, in an organic and well-planned manner. In addition, the way you implement them must be consistent, because only then will you be successful.

If you think about it, all of these variables are pretty obvious and necessary, especially with the arrival of the digital age. Marketing strategies must adapt to these changes and take into account that what is essential is not the product or the company, but the customer; and products or services are the way to delight them.