Marketing Mix: the ingredients
of commercial success
What to offer to King Customer
to make him visit your market stall


The marketing mix combines the main traits of an offer
of products or services to a type of customers.

The four P, product, place, price, promotion, means something
only if the C, the customer, is put before.


All those tasty ingredients
for a good
market fourch marketing recipe.

The marketing mix: what does it apply to?

Breaking the neck of some narrow myths about marketing.

Marketing is not just about selling things that are currently
produced.
Such "distribution" and "promotion" are only a part of the game.

The marketing overall role is

to build, maintain and adapt
 offers of
products and services
that fit customer preferences.

This supposes an adequate combination of the right ingredients, just like
a good culinary recipe.
The "marketing mix" combines precisely the main features of a
commercial (or social) offer:
  • Of a product or service 
or a éventail range of products and/or services through
specific channels (of communication, distribution...)
  • Well adapted to one or several  types of buyers, users or prospects
They are grouped usually in population / market segments /
market targets.
They are personpersonperson groups of people,  either large
populations or narrow "niches".
with similar traits, needs and
attitudes towards what to marketbuy.

  • With (positive) differentiations
compared to what other players offer or might offer
Those killjoys are called "competitors", this is a sport, guys!

Its key elements: four P for one C

First, love your customers!
Then act in accordance!


To identify those main traits, the marketing mix
refers usually to the 4 P:

Product, Place, Price, Promotion.
Those big Ps should always be related to the big C:
t
he (targeted) Customers.

All main traits of the offer (the four Ps),
no more, nor less, should be
adapted to the targeted customer segment(s). .

This entails to
* choose segments according to their potential (are they growing
   or declining, how are their means and behaviors evolving?
),
* detect what needs we could be able to fulfill for them with
   adapted offers.
* find how to reach them practically (channels).
Customers are the hands that feed you.
Know them! Predict their evolution!

feeling Love them and show them that you do!
             Be attentive! Be generous!
Therefore the marketing recipe is based on five "cooking ingredients"
C + 4P
 Customer (*) + Product, Place, Price, Promotion
(*) Existing customers and prospective customers.

They are the main elements to mix in a creative way in the marketing
pot to produce
a marketing strategy and a plancalend  marketing
plan

Weighing and fine tuning

Of course, in such a strategy / plan, the relative weight / importance
given to each of the 5 ingredients depends on the type of business
/ of activity:

* Industry ...or service,
*
Staple goods / basic services ...or complex / high tech (or luxury)
    offers,
*
Consumption goods or ...equipment goods,
*
Offer & demand: conservative or fast changing (fashion, innovation),
*
Work intensive ...or knowledge intensive ...or investment intensive,
*
Start up ...or well established business,
*
Consumer oriented ...or "business to business" activity,
*
Mass market ...or niche
*
Local ...or worldwide
*
Business ...or public utility ...or non profit organization.
*
Highly regulated ...or free trade sector
*
Diversified ...or pure play. Unique ...or part of a product range
* ....And so on.

Also, other traits might be added in specific business models.
For example:

* Packaging / design is important for consumer goods.
*
Time / speed is decisive for express delivery.
*
Celebrity / glamor image is crucial for luxury products.
*
Safety for potentially dangerous products or activities 
*
Relentless creativity for technology goods and services,
     and fashion-based activities

*
Anticipation of general economic evolutions (*)

(*) interest rates, growth, environmental regulation, geopolitics, technology
      shifts...

      They are important for many businesses,
specially to economic
      activities related to raw material and energy, and to those that need
      to commit long term investments.

Getting the details

Those various marketing aspects are detailed in
the main article on the topic:
Marketing plan

Highly recommended reading !

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M.a.j. / updated : 07 Aug. 2015
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