How to Make the Right Marketing Strategy with a Marketing Mix

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How to Make the Right Marketing Strategy with a Marketing Mix

Marketing is an important element that must be considered by a company. This marketing process ensures that every product from the company can reach consumers. Therefore, special strategies are needed to carry out marketing activities and ensure that the company gets the profit as expected.

Determining a marketing strategy is easy. However, you shouldn’t take it for granted. Remember, there is competition in the business world too. If you are not good at determining a marketing strategy, your competitors may benefit from your decision.

For that, careful and appropriate consideration is needed when making a marketing strategy. One of the most widely used marketing strategies is the marketing mix strategy. The marketing mix strategy is considered to help companies obtain maximum profits. For more details, see the following discussion about the marketing mix strategy.

Understanding the Marketing Mix Strategy

According to Kotler and Armstrong, a marketing mix is ​​a set of marketing variables that can be used by companies to pursue their sales level. In other words, the marketing mix is ​​a marketing strategy that combines elements in the marketing mix itself and is carried out in an integrated manner.

The marketing mix has several elements, which are known as the 4Ps. For those of you who are engaged in marketing, you must be familiar, right? Yes, 4P is Product, Price, Promotion, Place. However, along with the times, the 4P mix marketing strategy has grown to 7P.

What Are the 7P Elements?

As mentioned earlier, the 7P is in addition to the 4P. The elements are:

Product

The first element of the marketing mix is ​​the product. You have to determine what products or services will be offered to consumers in the market. The product has two elements that need to be considered, namely quality and visuals. You must ensure the quality of your product is good, besides that consumers must also feel the need to buy your product or service, not just interested.

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The easy way you can do this is by doing a little research into the target market. Research carried out may include information on market responses, consumer desires, and so on. Through the information we get from research, we can compare your product/service with competitors, find out the advantages and disadvantages of your product.

After that, you can conduct evaluations to improve the quality of your products and services, match the product with consumer wants and needs, and provide an overview of future product prospects.

Price

Regarding price, you need to consider the amount of costs that have been incurred to get the combination of goods and services that will be provided to consumers. In determining the price of the product, you must calculate it based on the cost of production, capital, and add a few percent profit.

The selling price must be following the market price, neither too high nor too low. This is to prevent bankruptcy, of course. If you want to sell at a higher price, give a striking difference from your competitors, such as quality, variant. So that consumers feel “worth it” with the price of the product.

Promotion

How to make a product or service known in the market and have many consumers? Yes, you have to do a promotion. Promotion is an activity of disseminating persuasive information, influencing and reminding the market that your product is ready to be sold and bought by them.

One of the things you can do is by placing advertisements. Advertising can be done through media such as newspapers, electronics, brochures, banners, social media. In the digital age like now, doing promotions is very easy because many social media will help you.

Place

Place or location is one of the determinants of sales turnover. Of course, you want your product or service to sell well, right? Therefore, the place or location of the sale is also very important to consider. How do you determine the exact location? What you can do is find and determine a sales location that suits your target market, whether it is for the bottom, middle, or up.

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Participant (participant)

Participation is an additional element of the marketing mix strategy. The participant in question is every person who enters and participates in marketing a product or service. For example, in the culinary business, the participants can be in the form of restaurants, restaurants, cafes. In general, waiters, officers, resellers are also participants. Therefore, do not underestimate them, because they have a big share in determining the marketing strategy.

Process (Process)

The process referred to in the marketing element here is the management process. Management strategy is very important to note. This is because the decisions determine the success of marketing. Besides, you also have to pay attention to the process of serving customers. Good service to consumers has a great influence on marketing results.

Physical Evidence (evidence / physical environment)

Physical evidence is in the form of evidence or the physical environment. The physical environment in question is related to the condition or atmosphere. For example, so as not to be confused, this physical evidence is such as facilities, company vision and mission, company symbols, brands, company assets, and other things related to product marketing activities.

So that’s the marketing mix that you must understand if you want to grow your business and win market competition. For your business to grow, don’t forget to advertise through the Froggy Ads service, you can start by advertising your products 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 your desired marketing target and provides you with multiple options for marketing your product.