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If you’ve just started a new business and need help determining how to choose the right marketing mix for your marketing campaign, there’s a business model, known as the Four Cs that you may want to take into consideration to help you determine what type of marketing mix is going to be most successful for your business.
The first thing to consider when going over your business’s marketing process is the consumer, which is, in our opinion, the most important aspect of having a successful business. Questions to ask yourself when thinking about your marketing mix include, “What are my customer’s needs?”, “How can I satisfy them?” and “Which strategies can I include in my marketing process to do that?”
Next on the list is Cost; what is your product or service going to cost the customer? What is the financial benefit to them if they choose your business over one of your competitors? Cost is very important to most consumers, so you want ensure that you address its importance within your marketing mix.
The third C is Communication. In regards to communication within the marketing mix, how are you going to communicate about your business, brand, products and services? This can include your marketing process, public relations; really any type of communication between your business and your customers.
Last is convenience; how easy is it to find or buy your product? If a consumer has to go to great lengths to find out information regarding your products and services, the chances of them sticking with your business aren’t high. Consumers want easy access to what they’re looking for, so when you’re considering what types of strategies to employ in your marketing process and avenues to use in your marketing mix keep this in mind, because, again, it’s all about the customer.
Have you recently review the marketing process of your business and determined that you need a new marketing mix of strategies and mediums? When considering what type of marketing mix may work best for your business, you should first look at what types of clients you already have and what types you are trying to reach out to.
If you are targeting a specific neighborhood with your business, or would like people to actually have a physical document in their hand, you should really add an offline marketing process into your marketing mix. There are many different offline marketing options, such as postcards, door hangers and flyers, all of which can be successful and promote your business’s brand, products and services.
If you want to target a younger generation of consumers, you might consider adding social media marketing or mobile optimization into your marketing mix. It’s estimated that over 70% of all young adults use social media to connect with friends and businesses online and that two-thirds own a smart phone and use it to access the internet. This number is only expected to grow as social media outlets continue to become more popular. With this being said, you can see that social media marketing and mobile optimization are two very good ways to reach out and connect with millions of people belonging to a younger generation.
No matter what type of marketing avenues you decide on for your small business, it’s always best to evaluate what types of existing customers you have and what type you would like to target. When you do this at the beginning of planning your marketing process, it can make deciding which strategies to add into your marketing mix a whole lot easier. When you choose a marketing mix that has a variety of different strategies, it can help grow your business and customer base even more than you’d ever imagine.
If your small business has been around for awhile, you may already be familiar with a marketing mix and the 4 Ps of marketing. While these two terms are often looked at as the same thing, they actually aren’t. A marketing mix can been best summed up as a term to describe the different types of marketing that a business chooses to use for its products and services. The 4 Ps are one way to define a marketing mix; so, yes, a marketing mix and the 4 Ps are related to one another, but they’re not the exact same. The 4 Ps of a marketing mix are Product, Place, Price and Promotion. If you need helping understanding how to relate these 4 Ps to your marketing mix you can ask yourself a few questions to help your out.
With regards to your product, what needs does your product need to satisfy for the customer? How can the customer use it and where will they use it? Lastly, how is your product different than your competition? You need to make the consumer feel as if they need this product and that yours is better than your competitors. For place, where can consumers buy your product? Online, in a store or both? How accessible is your product for your customers, especially is you’re selling it online. If you sell your product online, you’ll want to make sure that your product is easy to find and how to go through all of the purchase stages are easy to follow as well.
With regards to price, how does your price compare with your competitors? What is the value of your product to consumers? If you can justify the pricing for your product, chances are you’ll have a greater chance for success in your sales. Lastly, there’s promotion; how are you going to promote and market your product to existing and potential customers? What kind of marketing mix are you going to use to ensure that you’ve marketed to all consumer types possible?
These are just a few questions you can ask yourself when trying to determine what type of marketing mix will best meet your customer’s needs as well as the marketing objectives of your business.
If you are looking for a few new ideas to market your small business, it’s important to have a marketing mix that will reach out to all different types of consumers. The first thing you should do before changing your marketing strategy and determining a marketing mix is outline the different marketing objectives that your company has. Are you targeting a certain age group? How much do you want to increase your sales by with this marketing mix? How many leads are you hoping to generate by using a new marketing mix? There are many different questions to ask yourself to ensure that you have all of your bases covered and meet your desired marketing objectives.
The good news if you’re looking for a few different marketing strategies is that there are many services out there for you to utilize and create an effective marketing mix for your company. A few different strategies that business owners use, for example, are a website in conjunction with search engine optimization and an eCommerce add-on. Using this type of marketing mix first gets your website the best search engine results possible. When you start generating more traffic because of this, the eCommerce add-on offers your customers and potential clients the opportunity to purchase your products or services right there on your website. You don’t have to worry about losing a potential new customer because they didn’t have the ability to buy what they were looking for right away.
There are many different ways to mix up your marketing campaign and the most important thing is to make sure that you’re meeting the needs and wants of your customers as well as your marketing objectives. A successful marketing campaign is typically made up of a few different types of marketing strategies, so make sure you do your research and create a marketing mix that will do everything you want it to.
Who should use video marketing? Today we’re going to cover this very topic. We’re doing this because we’re doing a lot of questions surrounding this topic. Every day we have clients asking us if they should use video marketing for their marketing campaign as well as why and how they would use video marketing in their marketing strategies. We’re going to talk about specific client types that you have for your products and services. We’re going to share with you three reasons that can help you determine whether or not you should be using video marketing in your marketing campaign.
First of all, if your client-type searches for your product online, you should have a video for it. One of the easy ways to communicate information about your product or service, whether it’s on a mobile device or a desktop computer, is through video. Secondly, if your client-type searches for answers to questions relevant to your product or service. If they’re information seeking before they want to talk with someone or make a purchase, then you should be using video marketing. Lastly, if your client-type makes buying decisions based on relationships they have you should be using video marketing. People buy from those that they know, like and trust, so if they get to know, like and trust you before your competitors, then you have the advantage. You can use video marketing to communicate and improve your likeability. Break down the barriers of non-trust through video marketing.
Again, if you have any further questions about using video marketing in your marketing campaign you can download our free marketing assessment at DirectBusinessMarketing.com/MA, explore our website further or contact us via phone or email. Thanks for coming and I look forward to seeing you next week, same place and time, for our Get Direct Live marketing webinar.
It used to be that the marketing mix that people applied to their business’ marketing evaluation followed the guidelines of just the four Ps: product, price, promotion and place. These four Ps were known as the product oriented model of the marketing mix. Now, however there’s another model to follow, the four Cs, which are a consumer-oriented model of the marketing mix. When doing a marketing evaluation for your business, you should first determine which model is best for your company, the four Ps or the four Cs. Since the four Cs are newer to the marketing industry we’ll go through them with you. The four Cs are quite similar to the four Ps and tie into them quite nicely.
The first C is Consumer; by changing the first portion of the model from product (as it is in the four Ps) to consumer, it changes the entire scape of the marketing mix. Now, the focus is on the consumer instead of the product. Price has been replaced by Cost, in relation to the cost of ownership to the customer. For example, what’s it going to cost them to use your product or service? The third C is Communication whereas in the four Ps it’s promotion. Now the focus is on communicating between your business and the consumer. It’s no longer focused on just promoting the product. The fourth C is Convenience. How easy is it for the consumer to find out information about your product or purchase it? If you want to ensure a successful business and an expanding customer base, convenience to your accessing your product is key. Thanks to the internet, this is much easier to do so long as the correct content and information is easy to find online.
Which model you follow, the four Ps or the four Cs, really depends on the industry that your business belongs to. Many people believe that the four Cs are now the model to adhere to, but this isn’t always the case. Carefully consider which type of marketing mix is best for you when doing a marketing evaluation for your company and everything should fall into place just fine.
If you’re just starting out with your small business and you’re trying to determine exactly what your product or brand is offering, you may have heard a term known as marketing mix when working on your business’ marketing evaluation. Your marketing mix can be crucial to your business and goes hand-in-hand with the four Ps of marketing: price, product, promotion and place. Right now we’ll got through the four Ps of a marketing mix and hopefully be able to help you better determine just what your marketing mix should be.
The first of the four Ps is Product. Obviously, your product (or service) is out there to satisfy a need or want from a potential client. Products can be tangible or intangible and all have a growth and maturity phase and then, unfortunately, a decline. Your job when doing your marketing evaluation and determining the best marketing tools for your business is how to avoid that decline and the difficulties that can arise as your product or service moves through the different phases. To do this, you can take into consideration the product mix when doing your marketing evaluation. There are several ways to do this such as increasing the number of product lines you have or the depth of them; in the long run you want your different products to complement one another.
The second P is Price, which is the amount a customer pays for your product or service. Price will determine your profit, revenue and success of your company. If you’re unsure of how to set the prices of your product, it’s best to ensure they complement the three other Ps in the marketing mix for best results.
The third P is Promotion. How are you going to market and advertise your product? This is also a very important part of the marketing mix because if you’re not correctly promoting your product and getting the word out about it, the success of your business could suffer severely.
Lastly, there’s Place. You want to ensure that your product is at a place that is conveniently accessible to your customer base, whether it’s in a store or online. To guarantee a successful business and a good marketing mix, you need to ensure that each of the four Ps complement each other seamlessly.