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7 Elements of the Marketing Mix

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Marketing Mix

marketing mix (in English: Marketing Mix) is a set of interrelated and integrated marketing activities, which depend on each other to implement the marketing function according to the planned method, these tools are called elements of the marketing mix.


The marketing mix is ​​one of the basic concepts of modern marketing, and the formulation of the fundamental principles of this mix dates back to 1948 AD. C. by James Coleton. Marketing Mix) in the recipe, and in 1960 d. C., the ingredients for this mix were placed, and all its words in the English language begin with the letter (P). Read more: Income Tax Definition.


Seven Elements of The Marketing Mix

Once the different companies and institutions have finished developing their marketing strategies, it is necessary to pay attention to the elements of the marketing mix, which contribute to the evaluation of special activities in the work environment on a permanent basis; Where these seven elements constitute the correct way that helps to achieve the best results for the job in the market, and the following is information about these elements:


Product

Product (English: Product) is something that is produced by mechanical, human or natural effort, and business owners must take care of their own products in order to make the proper decision as to whether their applied work is correct at this time or not; Which leads to questions like is the current service or the good suitable for the customers and the market? Whenever a business owner has difficulty selling his services or products, he needs to develop an interest in his products.


Price

Price (in English: Price), depends on the continuous search of prices of the services and goods sold by the employer; To ensure that it is in line with the current market, it may sometimes be necessary to reduce or increase these prices at other times, and in various businesses when the business owner is faced with frustration as a result of their marketing plan, they should reconsider this. plan. to restructure prices, especially in the event that it was not perfect and fits the market at the moment.


Promotion

Promotion (English: Promotion) are all methods used to inform customers about services or goods, and the means used to sell them, and various companies are interested in trying many different promotion methods for their services and products, and any method used for promotion. In the workplace, care must be taken in developing sales offers and strategies used in advertising.


Place

place (English: place ) is the site where services and goods are sold, and it is important to develop this element by thinking of the appropriate place for the sales representative or merchant to meet with customers and often change the place of sale helps to increase sales quickly, making it possible to sell products in various places, so most companies use the direct selling method, and other companies can rely on selling their products through remote marketing, or selling relying on retail establishments or trade shows, or other means.


People

People (English: People) are people who interact with services and goods, examples of which are employees, workers in companies and other human components that participate in marketing and provide services to customers that include the introduction of the nature of the product or service provided to them, and the appearance and behavior of these contribute Individuals influence the perception of customers about the services and goods of the company.


Physical Evidence

Physical evidence is the environment in which the service is provided; It contributes to achieving interaction between customers and the facility, and other tangible components that facilitate the provision of services and goods, and the physical evidence includes all matters that represent the services, such as reports, brochures, business cards, signs, communication services and other physical evidence.


Process

process (in English: Process) are the real procedures that include the flow of activities that contribute to the provision of services and goods, the implementation of the real steps to deliver them to the clients and provide them with a set of appropriate tests to control or Treat with the good or service The process is also characterized by providing a guide to the client about the services or goods.


Characteristics of the Marketing Mix

When making decisions about the marketing mix, it must be characterized by certain characteristics, namely:

  • Consistency: It is the consistency that must be applied between all the decisions of the marketing mix, consistent with all the strategies of the company; This helps to achieve the right goals.
  • Flexibility: it is to stimulate the marketing mix to respond to changes in market conditions; In terms of customer needs, competition and other variables.


Marketing Mix Strategies

Establishments rely on the use of strategies to improve the relationship between the target market and the marketing mix, the most important of which are:

  • Undifferentiated Strategy (English: Undifferentiated Strategy): It is about designing a unique marketing mix with the objective of entering the market through a product, either for a price, a promotion method or a distribution system, and this strategy is applied based on the identification of the general needs of customers in the markets.
  • Concentrated Strategy: It is a strategy that is applied when the target market is not homogeneous, it is about dividing the market into groups of establishments, groups or people that resemble each other in certain characteristics, and this helps the company to analyze the needs and characteristics of a target group; This helps build a unified marketing mix for all industries.
  • Differentiation strategy (English: Differentiated strategy): It is the strategy of providing a marketing mix that is directed to all parts of the target market, and this strategy is applied after depending on the implementation of the focus strategy; Whereas, the differentiation strategy contributes to giving the company the opportunity to attract more sales because it is directed to more specific departments. 

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