Every company’s marketing program needs Strategy.  Your company’s Marketing Mix is the Strategy that must satisfy the needs of your target market, and at the same time, achieve your organization’s marketing objectives.

Your Marketing Mix is a combination of 4 components – known as the 4 P’s of Marketing…

  • PRODUCT
    Your Product (or service) should stand out from the rest! This is how you gain a competitive edge over others with similar products or services. What sets you apart? Is it the superior quality of your produc t? Is it your exceptional customer service or consultation? Does your product have unique characteristics that can be showcased? Making strategic decisions regarding branding and packaging will also have a profound effect on how your product is perceived.
  • PRICE
    Your Price is one of the first things people look at when they consider purchasing your product. Are your prices competitive? These days, price can be THE determining factor of whether people buy from you, or not. Sales or Discount Offers help to keep pricing competitive. Are you using Price Motivators to get people in the door?
  • PRESENCE
    Your Presence determines who can see you, so get your name out there! Where are you located? For example, can people see your store from the street? How is your online presence? Have you optimized your website for Search Engines like Google (SEO)? Are you using Social Media to spread the word and get referral business? Do you attend Trade Shows in industries best served by you?
  • PROMOTION
    Promotion includes Advertising, Public Relations, Sales Promotion and Marketing. Are you getting the word out about your company? Do you have a system in place to direct people to your website or place of business? Do you use promotional products as incentives to stimulate sales or customer growth? Have you ever sponsored a team or charity event?

The 4 P’s of Your Marketing Mix are interrelated, and decisions made for one component will directly affect actions in the other.  For example, if you decide to compete solely on price the other components must be designed to support aggressive pricing.

On the other hand, if you decide to compete on the basis of quality, your product must have features worthy of a higher price, and your promotional efforts should create a high-quality image for your product.

To learn more about effective ways to promote your product or business, contact us today to schedule a free consultation!