Marketing Techniques

Marketing Mix Strategy

Written by Sk Abdul Hannan

A process to present a product to buyers in the market in a very simple and easy way is the Marketing Mix. The main aim of marketing is to promote the product into the market with the proper price and in perfect place and time. Here is some strategy of marketing to increase the sale.  There are two types of marketing mix product and service.

  1. Product marketing mix
  2. Service marketing mix.

The product marketing mix is four types and they are known as 4P

  • Product
  • Price
  • Place
  • Promotion
  1. Product Marketing Mix:

A product before going to market or offering to the customer they have gone through a product marketing mix process. In this process, the basic need of that product, the price, distribution process, and the promotional strategy are defined.

  • Product:

It is the first and the best step to introduce the product to the customer. In this phase, the USP of the product and the significance of the product are being analyzed. Analyzed the differences between your own product with others. What should be the quality of the product to be the first choice of customers?

  • Price:

The second step of this process is to set the price of the product. The product price should not be so high that the customer cannot afford or the product price should not be very less that the company will have to lose. The price should be depending on the quality and quantity of the product, which can do well in the competitive market.

  • Place:

Place means the distribution policy of the company to the area it belongs to. If the customer couldn’t find the product nearby them, they will move to another product. customer’s mindset will be changed towards your product and they may reject your product. You have to be conscious of a place or distribution channel.

  • Promotion:

The last step of the product marketing mix is promotion. To become the first choice of customer you have to promote your business in various way such as digital media, advertisement, banners, TV shows, etc. Create some unique quotes that customer can easily remember.

 

  1. Service Marketing Mix:

In general market, mix indicates ‘4P’s but in some case extra ‘3P’s are present,  which is service marketing. The service mix marketing is mainly for restaurants, telecom services, hospitality. It is 3 in types

  • Physical evidence:

It is a process where a customer gives physical evidence that they are having services. Here the physical evidence is the acknowledgment or receipt. The customer will have 100% of satisfaction.

  • People:

In service marketing mix, people play the most important role. People do not mean the customers, it means those people involved in service. Like, every salesman, employee, driver. You have to make sure that, these people are giving their 100% towards customer services.

  • Process:

The delivery system should be very fast and within time. An easy acceptable delivery process, and return policy. There should be a return policy and complain service.

 

Some significant words

This strategy must be very strong for any company to reach a high altitude. It comes with transparency about the company business, planning, product, promotion, prices, etc. and very useful of monitoring and staff management. Thus, the company progresses towards better earnings or business.

 

“The aim of marketing is to know and understand the customer so well the product or service fits him and sells itself.”

-Peter Drucker.

You can also check:

What is a Product Demonstration?

How to improve your Sale?

 

About the author

Sk Abdul Hannan

After doing 2 to 3 jobs, I found my interest on business in my college life.
From then I was in a Professional Business. I have gathered 13 years of experience in Business Sales, Marketing, Operation, and Management. Today most of the people are frighten to decide their career in Job or Business. This site is a gift for them. Here you can get A-Z Guide & Support for any Business and Jobs.

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