What is the marketing mix

Introduction

Marketing is the set of activities that the company develops and that are focused on satisfying customers, to achieve the objectives of the organization. The marketing efforts of a company should focus on meeting the needs of customers, the people who work in the company, shareholders and society, so it can be said that there is a good market strategy.

This strategy better known as the marketing mix that is an essential part of marketing as the strategic process to place the products of a company within the market according to a marketing plan based on an analysis of strengths, opportunities, weaknesses and threats that allow to know the necessary elements to position the product in such a way that it satisfies needs and desires, at a suitable price plus an adequate service in the appropriate place and time.

A marketing plan is introduced through a previous evaluation on the aforementioned SWOT analysis to culminate in its execution, which allows to achieve the objectives of the company to create and preserve customers.

Development

The marketing mix is a set of controllable variables that combine to achieve a certain result in the target market, such as positively influencing demand, generating sales and profits. The marketing strategy is made up of the concepts of the 4 P's that consist of Product, Price, Place (distribution) and Promotion. Therefore the factors that constitute this concept are the following:

Product

It is the set of tangible or intangible attributes that the company offers to the target market, that is, it is presented as a mixture of variables aimed at the consumer according to their breadth, length and depth. Its characteristics are stated as follows: packaging, brand, quality, design, services, characteristics and variety, which is what makes the difference between one product and another.

Price

It is the amount of money that the consumer is willing to pay for a product or service, it is presented as the only variable that generates income for the company, its variables are: costs, competition, price level, demand, price setting and cycle life of the product according to these variables the price offered for a product in the end only the consumer will decide whether to purchase it or not.

Square (Distribution)

The distribution includes all the activities of the company that make the product available to the end customer for consumption. The objective of distribution is market penetration through distribution channels as intermediaries that allow the product to reach the end consumer. The distribution channel is the link between manufacturer and consumer of their needs and desires, according to the coverage, assortment, locations, inventory, transport and logistics, it is guaranteed that the distribution delivers the product or service to the right place and time.

Promotion

It is a tool or set of techniques that confirm one of the controllable variables of marketing whose objective is to inform, persuade and remember the characteristics, advantages and benefits of the product, the promotional mix is presented through personal selling, advertising, sales promotion, public relations and propaganda, these variables are most of the time the main function of marketing since they not only describe the characteristics of a product but are responsible for provoking the consumer's need for the product that is offered.

conclusion

The marketing mix is the strategic and most important element within the marketing constituted by the classification of the 4P's to develop an endless number of marketing plans, which according to technological advances have been allowed to create new horizons for the business. The company and the marketers have the final decision to use the market strategy that best suits the fulfillment of their objectives. Therefore, it should not be forgotten that the main function of the marketing mix is to achieve the satisfaction of the needs and / or desires of the target market by delivering a product or service in exchange for a profit for the company.