In order to promote your products effectively, you need to ensure that you have a proper promotion of the marketing mix. To get the marketing mix right, you need to have a good understanding of the fundamentals. The marketing mix is made up of 4 Ps. The Product, the price, the place and the promotion. Get these 4 P’s right and your product could be on its way to being successfully marketed.
1st P – Product. A lot of research is done before a product is manufactured. These investigations yield results of the needs or demands of the users. Your final product must be able to satisfy the demands of the users or the market.
2º P – Price. The price may affect the marketability of the product. Usually, the sales of some commonly available products will change depending on the price. On the other hand, for products that have limited availability but are in high demand, price changes will generally not affect sales of the product. We can test the price elasticity of your products by using some marketing techniques.
3rd P – Square. The promotion of the 3rd P of the marketing mix is the place. What this means is that the place where the product is available for customers to get. Just to name a few ways to deliver products to customers, it can be through retail stores, emailing them, or letting them download files. The accessibility of your products can affect your sales.
4th P-Promotion. The last P of the marketing mix will be Promotion. It can be very important in promoting your marketing mix. A good marketing strategy can generate good sales opportunities. Different approaches can be used when trying to market your products. There are traditional forms of promotion such as through word of mouth, public billboards, radio or television.
Marketing can be very important in any aspect of a business. A poor marketing strategy can lead to poor product sales. Low sales in turn will allow you to make low profits or even losses. Therefore, these marketing mixes are great guides for you to constantly review your marketing campaign. This can keep you focused so you can better execute your marketing campaign.
