How to use the concept of the marketing mix to promote the product
Promoting a product or service requires the use of a specific strategy with clearly defined steps. In this case, it is not necessary to invent anything new, but simply to find the best approach, which has proven its effectiveness many times. One such concept is the marketing complex or marketing mix. It is a set of tools to promote products and includes a number of mandatory steps that increase the effectiveness of activities.
The marketing mix has a basic model of 4P:
- Product and its characteristics: appearance, quality, package design, functionality;
- Price (price) includes not only the cost of the product but also promotions on it, discounts, and payment terms;
- Promotion, or product promotion. This takes into account advertising, the characteristics of direct sales, and budgeting for promotion.
- Place (the place where the product is sold). This includes all sales chains, logistical features, and points of sale.
All of these factors need to be taken into account to meet customer needs and increase sales. Each of these steps is important on its own, but their combination allows to get the maximum result when promoting the product. That is, the marketer should take part in the production of the product, coordinating its appearance and packaging design, as well as its cost. A specialist should also control the point of sale and delivery methods. The consumer must be provided with information about the characteristics and advantages of the proposed product.
The goal of the 4P model is to create a strategy that will work to increase the value of the product for the target audience. This, in turn, ensures the growth of sales and income in the long term.
Following the principles of the marketing mix is ideal for a highly competitive niche. Its tools allow you to fully disclose the benefits of the products and the company itself. For example, by making changes in packaging design or improving delivery conditions so that they are as convenient as possible for the consumer, you can significantly increase the number of customers.
In the absence of delivery charges, all sorts of promotions or product price reductions will be considered a competitive advantage.
Another option for stimulating consumer interest is to regularly increase the assortment and expand the product line. In this way, you can be at the center of the attention of the target audience and encourage people to buy new products.
When working with the 4P model, it is important to identify all your competitive advantages and then build a promotion with them in mind. A product should solve the problems of the consumer, and meet his needs, only then it will be interesting.
However, just a good product is not enough, you need to provide a comprehensive approach, where the role of price, implementation, and method of delivery of the product. Only when all parameters are taken into account can success be achieved.