Contrary to what many people think. Marketing involves much more than just promoting a product or brand. Production. Financial management. Logistics and data analysis are also part of this area of knowledge.
And it is in this mixture that one of the most famous concepts in the marketing world lives: the marketing mix. Or 4ps of marketing – as the union between product . Price . Place and promotion is also known .
If you want to understand more about the marketing mix. Its importance and how to put it into practice in your business. Keep reading this article!
what are the 4ps of the marketing mix?what is the marketing mix for?why is the marketing mix important?the evolution of marketing: the 7ps of marketingother evolutions of the marketing mix
what are the 4ps of the marketing mix?
As we explained at the beginning of the text. Marketing is a very broad area that encompasses more than just the promotion of a product. Service or brand. It encompasses all the tactics that will be used to get the consumer to want and buy that commodity.
In this sense. The marketing mix represents all the elements that make up the marketing activities.
This concept was created in the 60s by professor jerome mccarthy and spread by philip kotler and takes into account the basic pillars in any marketing strategy :
we list these reasons in more detail below. Check it out:
translate brand positioning
whatever target audience your business wants to reach. The 4ps of marketing can certainly help you.
This is because each
the ps helps to convey such a positioning. Thus providing the brand image in people’s minds. Therefore. There is also a relationship with branding. As the marketing mix helps to translate the pillars of the brand.
If it does not comply with the 4ps. Brand positioning can be harmed and tends not to consolidate in the market – or perhaps it is transmitted in the wrong way. Which would confuse customer perception.
if you are planning to launch a product in the market. You must have read around that there are several types of strategy. Right? Well. The Hungary Phone Number marketing mix can help in the integration of strategies.
Also because including a brand in the market does not mean going out promoting and selling without planning. It is necessary to align the integration of the various strategies in search of the success of your business.
This alignment occurs when there is a defined target audience and when there is a market positioning already decided – these aspects drive all the 4ps.
Remember: the focus should always be the customer and the image that your brand wants to convey in the consumer’s mind. We are saying this because this is how market perception is created.
Increase presence at all consumer touchpoints
another reason capable of explaining the usefulness of the marketing mix concerns the presence at all points of contact with the consumer. Following the framework of these variables. It is possible to contemplate all these points of contact.
Many entrepreneurs tend to think of marketing only as promotion and brand awareness. But the purchase decision is influenced by many other factors. We are referring to the process of price research. Product testing and even social media posts.
All these moments count
as interactions that make up the brand experience and help build an image in the market.
Stand out from the competition
by consolidating the brand positioning. It is possible to differentiate yourself from the competition. After all. Positioning yourself also means becoming unique and relevant in the consumer’s mind. Also seeking not to be replaced by the competitor.
Thus. The variables of the marketing mix seek to consolidate this image. As well as transmit the essence and differentials of the brand to consumers. But don’t forget that you need to pay attention to the competition during the construction of all pillars.
In this way. It is possible to identify investment opportunities that competitors have left out and take advantage of it to gain yet another point of differentiation.
Why is the marketing mix important?
After knowing the 4ps of marketing. You may have been under the impression that all these pillars are pretty obvious. After all. The definition of the product or service. Its pricing. Distribution logistics and promotion are activities common to any company.
In fact. The marketing mix is not just a simple list of do’s and don’ts. It helps you discover the most effective way to win and retain customers and even understand why your investments are not giving the expected return.
Perhaps you are selling your products in places or channels where your target audience is not. Or your promotion strategy is not being able to clearly convey the characteristics of the goods.
By inserting the marketing mix into your company’s strategy. It becomes easier to communicate to consumers the main differentiators of your brand. And thus convince them that they should buy from you and not from competitors.