Advertising mix components are one of the main pillars of science presentation nowadays. In this article, I will walk you through the nuts and bolts of 4P's ad mix and apply to 7P'S.
This is with the goal of being able to include it in the right way, making you apply it to your business, choosing and promoting the right item for the needs of your set of interests, and ideally positioning it for them, right. Cost, and at the best opportunity to display.
Explanation and fine details.
What are the components of the promotional mix?
Offer mix is a basic business plan that includes a set of courses that help organizations focus on their business markets, understand the needs and wants of their audience, increase deals and select the right items.
The components of the offer mix are four advertising criteria, which are:
.the product
.Price
.place
.Promotion
Show teacher Jerome McCarthy is the one who reinforced these standards in 1960, Blasts and Butner formed these standards into 7 advertising standards by adding 3 different standards
.People
.Process
.Physical Evidence
Before understanding the components of promotional mix, you must know how important they are.
What are the components of the advertising mix?
The competition is expanding in the business markets all over the world day by day at a huge rate, so it has become of paramount importance to keep track of options that have been thoroughly vetted before entering and competing with new elements in the business sectors.To this end, the 4P model was created to help organizations reduce gambling, truly understand markets and customer needs well, so that organizations achieve the expected development.
Here are 4 reasons why mix presentation is important:
1 . Advance Item
While planning another element, the offer mix helps you understand the audience's necessities, and in this way put the qualities and highlights that address their issues into the new element.
2. Helps your organization reach the next level
By having it and focusing on all parts of the ad mix, you can see where are the open doors you should take advantage of, and where are the weaknesses and issues you need to address in order for your organization to evolve and succeed.
3. Choose help
By focusing on the components of the supply mix, the entrepreneur can pursue important choices without confusion due to the possibility of access to a multitude of data and information about the element and the behavior of the buyer.
4. Promote fair offer mix
The offer should really be integrated, where the item cost is applicable with the location of the item, and developments are applicable with the item.In the following lines I will introduce you to all aspects of 4P's and the way you apply them to your business.
Really understand the four components of the show
Explain the four elements of more marketing
1. Product (what customers want)
The first element of the marketing mix is the product, whether that product is a tangible material thing such as: food commodities, or an intangible product such as: services of all kinds.
You must pay attention to what your business customers want, what each buyer aspires to, and what he wants and expectations about the product, because if the product is very good but not in line with the needs of customers, make sure that it will not meet the admiration and preference of your target audience.
- What you should take care of at that point is:
- Product design process (product features, quality).
- Branding: (The product conforms to your brand identity).
- Make smart decisions that help make the product life cycle longer.
- After-sales service.
- Product warranty.
But how do you do it right?
You should know the answers to some questions such as:
- What are the requirements that the customer is waiting for in the product?
- Does the product have these features and meet the customer's needs?
- Are there features that are costly to the company and that the customer does not use that should be removed?
- How was the experience of using the product and how the customer evaluated it?
- What is your point of difference from other competitors?
- What form of packaging offers the best customer experience?
Product example - Product
In the winners site, the product is the content that the site provides to the readers, so we care very much about all the details and the content production process, starting with choosing the topics that the readers and visitors of the winners’ sites are interested in.
Even the process of submitting and publishing content on the site, and making sure that it provides all the sufficient information about the topic that was published so that the visitor comes out with all the answers he was looking for on that topic.
Another example is Apple that offers many products such as:
1- Computers (Mac)
2- Mobile devices (iPhone)
3- iPad
4- iPod
5- Apple Watches
6- and other products
Apple primarily offers consumer electronics products in addition to its products in the digital content distribution industry through the Apple TV application, and this means that Apple continues to expand its marketing mix with digital products as well.
A good understanding of the products your company offers and what your customers need always makes you superior to your competitors, and among the first choices of your customers.
2. Price (How much are they willing to pay?)
The second element is the price, the matter is simple here. You have to determine what do you want to be paid for the product you sell?, according to the category to which your product belongs (consumer product, entertainment product), in addition to the purchasing power of your customers, the price of the product is determined.
If the product is directed to the economy category, the price should reflect that, but although the topic is not complicated and easy to explain, many companies face difficulty in determining the appropriate price.
What you should pay attention to at this stage is:
- Choose the pricing strategy that best suits you.
- Determining the appropriate ideal price for each product.
- Provide the payment methods preferred by your customers.
- Create a plan for discounts and offers.
In order to do this perfectly, you must know the answers to some questions such as:
- What value does the product represent to your customers?
- What is the starting price for this product?
- Is your price competitive compared to competitors in the market?
- Is the price the same for all, or are there discounts for certain categories in the market?
Price . Example
Apple uses the following pricing strategies:
- Premium pricing strategy.
- Freemium pricing strategy.
These strategies make Apple's devices more expensive than competitors. In the first strategy, they depend on increasing the profit margin, and this strategy aims to make the price exorbitant so that Apple achieves the maximum possible profits, in addition to making the mental perception of the product as a luxury product that not everyone can own.
In the second strategy, Apple offers free products such as: storage spaces on iCloud, but if you want more space or more features, you must pay for it.
Every company chooses the right pricing mix for it, and it takes a good understanding of the market and the consumer in order to be able to price the product in a way that helps the company grow and increase sales in the long run.
Read also:
What is the customer journey, what are its stages, and how do you manage it to double your sales
3. Place (How will customers reach the product?)
The third element is the place, if you make a good product, and choose the best pricing strategy that suits the product and your customers, but you display the product in the wrong place, be sure that it will fail completely.
Venue Where will you display your product? In e-marketing, it is the process of choosing the best platform to publish special content about your products. Where is your audience? Facebook, Instagram, Twitter, or other platforms.
An example of the importance of choosing a place carefully:
Marketing expert Mr. Neil Patel tells about one of the conferences in which he was one of the speakers, called “Twiistup Conference”, and the conference was full of celebrities and useful information but it didn’t work out!
The reason is the location, the conference was in the United States of America, specifically in Los Angeles, but the problem is that it is about an hour away from Santa Monica, the beating heart and the most important city in the state of Los Angeles, and the headquarters of the most important technology companies in the world.
The shame of that story: you shouldn't wait for your customers to come to you, you should go to them.
So at that point you should take care of:
- Covering the most important market places.
- Choose a strategic and distinctive location.
- Develop a plan for transportation and distribution.
- Pay attention to the process of storing products.
- Attention to logistics.
In order to do this, you must know the answers to some questions such as:
- Where do your customers search for your products?
- What are your competitors doing that you can learn from?
- Do you have a good sales team at the point of sale?
- Where are the best and most important places to display your products?
Example of Place and Distribution
Apple relies on several places to display and distribute its products, some of which are owned by Apple, and some are cooperation with other companies.
- Apple store locations.
- Apple online store.
- Authorized sellers.
- Telecom companies in each country.
You must develop several solutions and methods that enable your customers to access your products in a simple and practical way that makes it easier for them to complete the purchase process.
4. Promotion (How will customers know the product?)
The fourth element is promotion, which is one of the most important elements of the marketing mix, and is often the first thing that comes to the minds of some when mentioning the word marketing, and the goal of promotion is to capture the attention of your target customers.
Promotion is the set of activities and processes that you undertake in order to reach your customers and communicate your marketing message to them.
In this step, you should take care of:
- Attention to the promotional mix (advertising, personal selling, sales promotion, public relations).
- What are the marketing messages that you want to tell your customers?
- How to reach the target audience in each marketing channel?
- What is the frequency of your marketing messages?
You can do this after knowing the answers to the following questions:
- Where is the right place to deliver your marketing message? (E-mail, television, social networking sites, billboards, public relations, and other means).
- What is the best time to promote?
- What are your competitors' marketing messages?
- What is the frequency of your competitors' marketing messages?
Promotion Example - Promotion
Apple is known to promote its products with smart ideas studied by the global market. You always find simple and clear Apple ads that carry one idea without mentioning excessive information, and you will not find Apple that addresses the price of its products.
Rather, it focuses on explaining and displaying the value that Apple offers through its products, and it exploits the emotional aspect very well. Most of the time, Apple shows communication with family and friends through its products, and this makes you feel happy.
In 2015, Apple promoted its iPhone smartphone without displaying the product, through a campaign called (Shot On Iphone), where the company asked its users to send the best pictures of them using the iPhone, and those pictures were shown on 10,000 billboards around the world, and thus Apple announced For her new phone without display!
5. People
It is very important that all company employees have the highest level of training, starting from production workers to customer service employees, because everyone in the company and the work system must give a good and positive impression about the company in front of customers.
The cost of training your company's employees to provide the best possible service to your customers, enables you to retain your existing customers and even refer you to their friends and family.
Make sure that every employee within your company leaves a good reputation with your customers, so that you can maintain a good impression and a good mental image in your customers' minds.
Read also:
How do I get visitors through forums (comprehensive guide )
6. Process
Getting the product to your target audience is the process. All activities and practices from purchasing materials, manufacturing and packaging the product, shipping, and delivery, all the stages until the product arrives and your customers buy it.
At that point, you should make the process smooth and less complicated, ensuring that there are no complaints and that the product is delivered with the highest possible production quality. To reduce complaints, you should read online reviews about your product, communicate with your customers and understand the reasons.
Monitoring and tracking the performance, production and delivery of the product will help you deliver the best experience to your customers and develop a plan to address your weaknesses and reduce production costs while maintaining quality.
7. Physical Evidence
When you walk into a fine dining restaurant, you find the decor, seating, lighting, music, staff clothes, everything made and arranged with great care, this is the physical evidence.
All the tangible things that give a first impression about the company and what it offers, attention to detail and physical evidence give your customers a positive impression and feel about you, so never neglect physical evidence.
Conclusion
That was all the information about the elements of the marketing mix. I hope the article provided you with the benefit you were waiting for.
And I want to know from you:
Do you care about all four elements of the marketing mix or not? Do you care as much about your company's physical evidence as you do about promotion?