In recent years, marketing mix strategies have changed direction. Their objectives and goals have undergone a great evolution in this area. The main modification has been the change in the focus of each of the strategies followed. Therefore, the product or service has taken a backseat, with the consumer becoming the main protagonist.
The marketing mix refers to the different controllable variables that a company can use to influence the demand for its products or services . These variables include the “4 P's” of marketing: product, price, promotion and distribution.
Product : refers to the features and benefits of the product or service offered. What are the products or services you want to promote?
Price : refers to the monetary value that customers must pay for the product or service. What is your current pricing strategy? Do you have the flexibility to adjust prices?
Promotion : refers to communication activities used to inform, persuade and remind customers about the product or service. What communication channels are you currently using? What guatemala mobile phone number is your main promotion objective?
Distribution : This refers to how the product or service reaches the end customer. What is your current distribution channel? Are there opportunities to expand or improve distribution?
Once you gain more information about your product or service, you can develop specific marketing strategies to promote it effectively.
Young woman picking up a product from a supermarket shelf
4 Marketing Mix Strategies
People-centric marketing mix strategies are approaches that rely on a deep understanding of consumers and their behavior to develop effective marketing strategies. These strategies recognize that people are the most important asset of any business and seek to meet their needs and desires in a personalized way.
Rather than focusing solely on the products or services offered, these strategies place emphasis on understanding people as unique individuals with different motivations, preferences and behaviours. They seek to establish an emotional connection with consumers by creating messages and experiences that resonate with them on a personal level.
Some of the main marketing mix strategies are Engagement Marketing, Relational Marketing, Experiential Marketing and Viral Marketing. We will discuss them from now on.