Marketing mix analysis example
Product, price, distribution and promotion
If your company, entity or brand wants to reach its potential customers and achieve specific objectives, it will be important to have a strategic plan that will help you through different means to achieve it.
This analysis will help us to know the competition in the market, to identify actions taken, to recognize threats and business opportunities, and thus, to develop and plan strategies.
After making our brand appear as an option (phase 2, brand prestige), we have to make them trust our brand, generate an emotional bond that influences the sales process.
We reiterate the appearance in the media, testimonials, collaborations, etc. The media will no longer be only the best known generalists, but more specialized in the sector, or even microbloggers.
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What is the marketing mix and an example?
The Marketing Mix is all those actions that must be planned around the product, the price, the promotion and the distribution of the product. A company must be very clear about what it wants to offer and to whom, and it must also know how to do it and where.
What is a marketing mix analysis?
It is an analysis of the internal strategy commonly developed by companies. Four basic variables of your activity are analyzed: product, price, distribution and promotion. To run your business, it is useful to have some notions of marketing but also an invoicing program.
Product, price, place and promotion example
The marketing plan is a key element in every company's strategy. There are businesses that try to test new sales and marketing techniques without having previously developed a marketing plan and constantly see their actions frustrated. It is essential to make a marketing plan and review it at least every 6 months. Today we show you how to make a marketing plan for a service company, reviewing first the concept and then analyzing each section in more detail.
The marketing plan is an important part of any company's business plan. In it, you will find the strategies, objectives and actions to be carried out to achieve the objectives that are also included in it.
The competition is another key point that you must keep under control. Not because you should copy the actions taken by other companies, but because they can give you a lot of information: about your customers (or a similar profile), about market trends...
The marketing plan includes the sales techniques that you will use in the different actions, whether at the points of sale, with distributors, suppliers, when you go to trade fairs or events...
Explaining the marketing mix
Coca-Cola is an American multinational company headquartered in Atlanta, Georgia. The multinational company specializes in the production, distribution, and sale of soft drinks. Coca-Cola produces its products, which it then sells to bottlers and retailers around the world. Behind it all Coca-Cola's marketing strategy is what puts the magic to the company selling "syrup".
Today, the company has more than 200 subsidiaries in several countries around the world and has diversified its products with more than 500 brands. Some of the company's most popular brands are Coca-Cola, Fanta, Sprite or Aquarius. This is a testament to Coca-Cola's market positioning.
To achieve its objectives, the American company has aligned its organizational culture towards its strong competitive sales strategy. The main sets of values, beliefs and behaviors that make up Coca-Cola's culture are motivation, teamwork, effective leadership and product, which have contributed to its brand success.
Marketing mix example
A market analysis is a key part of any marketing strategy, whether traditional or digital, because it is an exhaustive evaluation of a given market within a specific industry.
The results obtained will help us to clarify the dynamics that move the market, such as volume and value, qualified lead segments, what are their buying patterns, closely verify potential competitors, among other relevant factors.
In short, this process is important because it serves marketing by its nature to answer a series of invaluable questions within each strategy, which seek to reinforce each step we take as a company:
It is for this reason that, the first thing we must keep in mind, is that we must dedicate time and effort, we cannot fall into the error of thinking that we can do it overnight, even in a couple of months.
During the research, we must consider creating a potential customer profile, what is known in Marketing as "qualified lead" -these are the ones that are closer to a conversion-, which reflects the ideal target to serve as a model for Digital Marketing efforts.