7 Components of a Marketing Mix that You Need to Understand
The marketing mix is a type of marketing strategy that combines several components into a single unit. All components contained in the marketing mix in general are things that should be a concern of every business person.
With the application of a mature marketing strategy, it will certainly affect the outcome of a business’s success. Simply put, no matter how good the quality of the product you offer, without a good marketing process, it will be in vain too. Then what are the components in the marketing mix? Following the review.
Products are objects that you offer in the marketing process in the form of goods or services. This product will determine the profitability of a company. The most important thing from this aspect is that your product must be able to meet the needs and desires of consumers. Besides, you also need to pay attention to the quality of the product. The better the quality of the product you present, the greater the possibility that the product will be well received by the market while winning the business competition.
Price is the cost that consumers must pay to get the product you are selling. Determination of the price of a product must be considered, because in general, consumers make the price as the main consideration before making a purchase. Therefore, the price of a product must be rational. In other words, the price can be accepted by consumers but can also provide benefits.
Place is a location used for buying and selling transactions. For businesses that are still conventional, location is a very important factor. The place chosen must be strategic and easily accessible to consumers.
Along with the development of information technology, the definition of place is also experiencing an expansion of meaning. Place can be interpreted as a marketplace or online store website that you use to transact.
Promotion is an effort made with the aim that consumers can get to know and be interested in your product. The main key in a promotion is that you can show that your product fits the needs and desires of consumers, and can solve the problems they experience.
Participants are all HR involved in your business or marketing process. In the service industry, in particular, HR is a major asset. Quality human resources, especially those who are in direct contact with consumers, determine the level of consumer loyalty to your brand.
The process refers to how the steps are carried out between the seller and the buyer, including service and transaction processes. Therefore, you must provide the best possible service to consumers, both when the transaction process takes place or when consumers face certain problems related to your product. If talking about online business, then you need to provide features that can make it easier for consumers to transact and connect with your business.
7. Physical Evidence
Physical evidence is anything that involves equipment or physical facilities that are used to support business activities that you run. The larger the scale of your business, the more equipment and facilities you will need.
Thus the discussion about the 7 components of the marketing mix that you must understand. And don’t forget to advertise through the Froggy Ads service, you can start by advertising your product, so that later you can increase visitors on your online business portal. Froggy Ads is an online advertising service that can help you control all your product campaigns. helps you target the marketing target you want and gives you many choices for marketing your product.