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Why your marketing mix matters
Marketing mix matters because it describes certain aspects of the marketing process that you can control and which always make a huge difference. In each area of the marketing mix you will need to make key choices. None of these choices can be passed up or substituted for each other. In terms of product design you obviously need to make certain decisions regarding packaging, warranty, brand name, safety, and any number of other options. In terms of price decisions you obviously need to do some market research to see how similar products are selling in the market. This could also include decisions about wholesale prices and about sales and discounts. Besides this you will need to make some tough choices regarding distribution. For example, you need to think about inventory, distribution centers, product placement, and product transportation. Promotion decisions are extremely important as well; think about how you are going to advertise your product and how things like sales promotions and public relations are going to affect your problem. Using these four P's in a marketing mix will help you to develop a strong marketing plan. It will help you to think of your product in a more holistic way. Many people simply think about marketing but don't realize that marketing can't be carried out without other work being done on your product. You need to know things about price, distribution, and product placement before you can seriously market a product. A common mistake of so many businesses is that they don't try to look at the product in a unified manner. They tend to think about marketing but they don't consider how other factors will influence their decisions. Using a strong marketing mix could be compared to using a recipe. You consider certain ingredients and add them based on a plan. If you leave out a key ingredient your meal is almost certainly ruined. Marketing is a similar sort of situation; it requires considering many different elements and combining them in a certain way. If an part is left out the final product will almost invariably meet with failure. Considering the amount of time that you put into marketing a new product, don't you think it would be a good idea to have a good marketing mix? One poorly produced and placed product can spell the end for many businesses.
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