The marketing mix, everything you need to know!

[shuklamojumder093]

The marketing mix, historically based on the 4Ps, has since expanded to the 7Ps, 10Ps, and also to other very powerful techniques with the evolution of consumer markets and consumer behavior.

The marketing mix consists of proposing targeted and relevant marketing campaigns through the analysis of different factors .

Indeed, it allows you to develop an effective marketing strategy for a product or service by taking into account all observable elements to achieve marketing and business objectives. PGE explains everything you need to know about the marketing mix.

The origin of the marketing mix with the 4Ps of Kotler and Mc'Carthy
Since the emergence of azerbaijan mobile database in the 1980s, the marketing mix has included Kotler and McCarthy's legendary 4Ps to guide marketing budgets, efforts, and projects as effectively as possible. Below are the 4Ps.

Product: This aspect corresponds to the different characteristics (technical, composition, aesthetics, quality, brand, performance, packaging, after-sales service, guarantee) of the products and services sold by an organization.
Place (location): The promotion policy is defined by all the channels used by an organization to sell its products and/or services with the objectives of finding the best distribution channels adapted to the human potential of the teams and to internal and external logistics.
Promotion (communication): This variable of the 4Ps corresponds to communication actions (digital, physical and phygital) to make oneself known and reach the desired customers through advertising, social networks, partnerships, website and its brand image
Price: This defines the price and payment terms of a product or service compared to competitors. The goal is to set the fairest possible selling price in order to make a profit. Thus, different strategies are possible, such as low price (volume effect) or, on the contrary, high price (desire for a good brand image).
However, before embarking on a marketing mix strategy, a market study is mandatory to better understand consumers, their desires, the prices they find fair, the places (social networks, media) where they are found, therefore clearly the 4 aspects of the marketing mix.

The extra tip: Different prices can be defined such as the end customer price, the psychological price or the distribution price.