To effectively promote your products, you must make sure you have a right marketing mix promotion. To get the right marketing mix, you must have a good understanding of the fundamentals. The marketing mix is make up of 4 Ps. The Product, the price, the place and the promotion. Get these 4 Ps right and your product could be on your way to be marketed successfully.
1st P – Product. A lot of researches are done before a product is manufactured. These researches show results of the users’ needs or the demands. You final product should be able to meet the users or market demands.
2nd P – Price. Pricing can affect the product marketability. Usually, the sales of some commonly available products will changes to the price. On the other end, products that have limited availability but in high demand, price changes will not usually affect the sales of the product. We can test the price elasticity of your products by using some marketing techniques.
3rd P – Place. The 3rd P of the marketing mix promotion is place. What this means is that the place that the product is available for customers to obtain. Just to name some forms of delivering the products to customers, they can be through retail shops, send them through emails or let them to download the files. The accessibility of your products can affect your sales.
4th P- Promotion. The last P of the marketing mix will be Promotion. It can be very important of your marketing mix promotion. A good marketing strategy can bring good sales leads. Different approaches can be used when you trying to market your products. There are traditional ways of promoting like through words of mouth, public advertisement display boards radio or television.
Marketing can be very important in any aspects of a business. A poor marketing strategy can lead to poor product sales. Low sales in turn will let you get low profits or even lost. So, these marketing mixes are great guides for you to constantly check for your marketing campaign. This can keep you focus so that you can run your marketing campaign better.