Consider a marketing campaign, whether it be the talking lizard from Geico or the giant polar bear drinking a Coca Cola, do you ever wonder what process went behind the campaign? Any given organization must go through an in-depth analysis of their strategy prior to implementing any marketing tactics. When designing a marketing strategy, a business must first consider the roles of the product, place, promotion, and price. The combination of the four P’s is more commonly known as the marketing mix.
The marketing mix is a grouping of factors that can be controlled by a company to influence prospective consumers. This process is a vital first step to any marketing strategy that directs the company’s campaign. A mixture of all four P’s must find a balance and work together to capture one target market.
- Product – A given product or service offered by a business to satisfy consumer needs
- Place – The accessible positioning of products/services and channels of distribution to reach potential consumers
- Price – The price of an item is dependent on the cost of production and the amount a consumer is willing to pay for an item
- Promotion – The marketing tactic to increase brand recognition and sales of products/services
All four P’s of the marketing mix must be centered around the best interests of the target market. The target market is the group which a product or service is created and geared towards. So, the business’s product, place, price, and promotion must all work coordinated to capture the audience of a specific target market. The marketing factors create strong bonds that influence each other while collaborating throughout the marketing process. A marketing mix is vital for any business’s success and allows for a clear-cut layout of all marketing focuses and strategies.
At Catskill Marketing, our marketing team understands the importance of a detailed marketing mix to better broadcast certain products/services. So, Catskill Marketing thrives in the implementation of the marketing mix to ensure a boost in sales. Marketing specialists work side by side with any business to discuss a marketing strategy that fulfills the marketing steps and the company’s goals. After an in-depth marketing mix analysis and marketing strategy, our marketing team has access to several resources, such as videotaping and editing, to capture any target market. Catskill Marketing services stretch across Orange County, New York, and include a wide range of social media expertise to graphic design skills. Our marketing executives are more than willing to meet any businesses marketing needs with several different strategies and tactics.