A chef’s preparation of recipes depends on several ingredients and processes — and they all need to be combined to ensure a quality dish, served as planned. When thinking about brand communication, this example relates to the Marketing Mix!
Using this approach has already helped several companies achieve better positioning and sales results. However, just like the market and consumers, it has evolved!
Are you interested in learning about what the Marketing Mix can offer now, in all its forms? Follow me!
The concept of Marketing Mix
Just as a recipe is made up of several ingredients, the Marketing Mix is a set of elements that guide the business strategy in this sense.
It also serves as a kind of recipe, indicating how to plan and act to achieve the desired results!
Although this term was created in the 1950s, it has undergone constant evolutions. One of them refers to Digital Marketing, which has become more relevant in strategies to reach and convert the public.
It is also interesting to consider that there are several factors that can interfere with the Marketing Mix. Some of them are market characteristics, such as demographics, economy and competition.
The 4 Ps of Marketing
To truly understand the Marketing Mix, it is essential to know the 4 Ps of Marketing.
These are the bases of the methodology, which were defined between the 1950s and 1960s. In practice, they responded to the needs of the time!
As the strategies were offline and focused on traditional communication channels, such as radio and later TV, the 4 Ps formed a recipe for success.
And, even with the transformations over time, the pillars of this proposal still make sense !
Learn the concept behind each pillar of the Communication Mix:
Product
Product OP refers to the item or service that will be offered by the company to the target audience.
I would say it is the most important P because it can affect all the others! After all, the strategy for a luxury or personalized product is different from that for an affordable item, for example.
When dealing with the product, therefore, it is essential to answer questions such as:
- To which market segment will the product be offered?
- How will this product be positioned in the sector?
- What is its life cycle?
- How does it connect to the brand’s other products?
At this stage of strategic product definition, it is possible to use tools such as market research to understand the public’s needs and preferences, for example.
It is also possible to use other resources, such as SWOT analysis and competitor assessment.
Price
The price PO indicates the amount the customer will need to pay to purchase the product or hire the service.
Its use involves issues such as pricing strategy, costs involved and even consumer sensitivity to prices.
Tools that can be used here include the business’s financial instruments, such as expense reports.
It is also possible to use features such as demand forecasting, price research and dynamic pricing.
Square
Place OP is also known as distribution, being linked to the channels and methods used to make the product or service reach the public.
The decision to create an online store, for example, has to do with defining the product’s location!
The definition of the location takes into account various elements such as the desired geographic coverage. It is also worth considering which distribution channels are available and what the logistics planning will be like.
The tools include point-of-sale assessment, in the case of physical products. There is also inventory management and channel mapping, for example.
Promotion
Finally, the P of promotion has to do with the communication strategies that will be used to attract, educate and convert customers.
To define how it will work, several factors must be considered, such as:
- The communication objectives;
- Brand and product positioning;
- The desired audience segment;
- The available budget.
As I mentioned, when the Communication Mix concept was created, promotion was very focused on traditional advertising. However, today we can think about issues involving Digital Marketing, Content Marketing, events and several other strategies!
Digital expansion for the 8 Ps
Speaking of Digital Marketing, it was one of the main people responsible for the expansion of the 4Ps model. This is how the 8Ps Marketing Mix emerged , including additional concepts to the strategy to be developed.
This issue also has to do with an increasing focus on the customer and their real needs — not just what they say they want!
One of the most famous phrases in this sense was attributed to Henry Ford, responsible for transforming the automobile industry and the way of production:
“If I had asked people what they wanted, they would have said they wanted faster horses.”
Therefore, increasing access to motor vehicles may not have been the focus, since potential customers did not know they needed them. However, once they became available, success ensued!
Another emblematic case is that of Steve Jobs, with Apple. People didn’t necessarily want an iPhone or an iPod.
But, after launching these products, the company began to meet a latent need, changing the market!
Thus, the arrival of the 8 Ps does not make the 4 Ps obsolete . Instead, it is possible to have a vision in which they complement each other, the most important being to focus on serving the public .
With that in mind, learn about the other 4 Ps:
People
People OP deals with the fundamental role of internal and external people in the success of strategies.
Internally, we are talking about both marketing specialists and those who take care of customer service, for example. Externally, the focus is on the target audience.
Tools that can be used in this regard include team performance evaluation and satisfaction surveys.
Also, carrying out market research, developing the audience profile and having a deep understanding of their desires and needs are fundamental points!
Law Suit
Process OP connects to the workflows and activities that help delight customers and create value for them.
They need to be worked on in process mapping and standardization, in order to build a positive brand image.
To this end, it is worth considering the use of process diagrams and quality management tools.
Management methodologies are also welcome, while benchmarking helps the business understand how it positions itself against its competitors in this regard!
Positioning
In turn, the P of positioning has to do with the customers’ perception of the product, service or brand.
The use of this P is useful when defining the unique value proposition and finding the business’s differentials, for example.
To use this pillar in a robust way, it is common to use other tools that I mentioned here, such as the SWOT matrix — but now with a focus on positioning.
Benchmarking and even testing are equally useful in this regard!
Performance
Especially because of Digital Marketing, it is necessary to consider the P of performance, which relates to the measurement and analysis of results.
By using metrics and key indicators, it becomes easier to understand which strategies are most effective. In addition, knowing the return on investment (ROI) is essential!
As for tools, it is possible to use marketing automation and results monitoring resources , such as analysis platforms.
In an offline context, surveys, customer feedback and sales reports come to the fore.
The shift to the 4 Cs of Marketing
Although the 4 Ps of Marketing have evolved into the 8 Ps, they are not the final destination!
New changes have taken place in recent years, leading to the 7Ps of Marketing, after the removal of performance from this compound. In addition, there was the adaptation to the 4 Cs of Marketing.
This is a shift that reflects the trend toward becoming more customer-focused — just as Ford, Jobs, and so many others did, even before this evolution.
See how these fundamentals can be explored!
Client
Of course, we should start with the C of customer, a pillar that focuses on the needs, desires and preferences of the buyer.
This also involves mapping out the customer journey, as well as segmenting. From there, it is possible to both anticipate needs and personalize your actions.
Empathy maps are very useful for checking the audience’s emotions and understanding their behaviors.
In addition to these, there is market research and the use of digital tools, such as customer relationship manager (CRM).
Cost
Cost OC includes the total cost of the product or service to the customer, going beyond the price.
Issues such as the need for maintenance or the difficulty of acquisition can increase this issue.
However, cost can also serve to add more value to the Customer Experience!
Working with this C involves tools like the total cost matrix, so you can understand what the full numbers are for the client.
It is still worth understanding the cost-benefit offered and monitoring the public’s sensitivity to price.
Convenience
One of the most important Cs of Marketing is convenience. Employing it means working to eliminate friction in the experience, ensuring that it is simple and advantageous for the buyer.
The focus is on the efficiency of the various stages, from distribution between channels to customer service.
Mapping the customer journey is also often useful here, as it helps you understand the decision process.
Omnichannel performance also deserves attention, as it serves to make purchasing even more convenient!
Communication
Communications PO replaces or complements the promotion pillar and has to do with the company’s approach to the customer.
This C is specifically geared towards constructing messages and ensuring they reach the right people!
The tools are especially related to Digital Marketing, such as presence on social networks or the use of Content Marketing.
Other tools, both online and offline, are also available and can be considered.
Integrating the Marketing Mix into the digital strategy
Since the Marketing Mix has been changing with market changes, it makes sense to incorporate it into the digital strategy. After all, even though the concept originated with traditional Marketing, it adapts to SEO, for example, among many other strategies!
An example of this is iFood, one of the largest Brazilian companies. By bringing products and restaurants cataloged and categorized in one place, the app ensured more convenience for the customer experience!
This has made it easier to filter options, choose, place an order, pay and receive at the desired address. The strategy involves the main pillars of the Marketing Mix, while still focusing attention on the customer .
Another example is Uber. With the app, it became possible to order a private transport to come to you, which is not always possible with taxis. In addition, the company came up with a proposal to improve the experience, service and comfort.
By solving specific audience desires, the company disrupted the market and became a global leader!
Therefore, there are many ways to integrate the Communication Mix into digital performance!
The importance of omnichannel in the communication mix
You’ve already seen that channels are essential in the Marketing strategy, especially considering the 4 Cs of the Mix. Rather than having them separate, it’s worth implementing omnichannel to integrate channels.
Through this strategy, it is possible to present the customer with a consistent experience across all points of contact.
In addition to this promoting communication, it is a way to increase convenience and meet people’s specific needs — completing the 4 Cs of Marketing!
The Marketing Mix must be a unified strategy!
As I have shown, the Marketing Mix has evolved with the market, bringing new possibilities to reach the public.
However, it is important to understand that it is not enough to use the approach in isolation, so that Marketing strategies must be aligned with other sectors of the company.
To start working in a unified manner, get your free Digital Marketing Diagnosis from Enjoy Minder!
