The Marketing Mix

Once a business has assessed the marketplace, and targeted its customer, it can finally design its marketing strategy.

A Marketing strategy is put simply by using common tools.

A useful tool is the marketing Mix. It is also famously named the 4P's of the marketing.

In order to create satisfy a customer, a company must first design a good product. This will be the first P. The product must fit with the ideas of the customer, according to what the consumer expect to have, when buying a product.

The second P stands for price. In order to have a good product, a company must find a good price. With a specified target price, a company can easily integrate a market. There is a balance between the price the customer is expecting and the margin the company is making upon selling its product. In fact, some companies sell sometimes way below their margin, so that the customer is attracted by the low price.

After that we have the third P for place. In order to sell these products, you must find the proper seller, retailer or wholesaler. You also must find the good area where you want to sell these products. Depending on the country, you might sell the same experience, but not the same products. For example, in Asia, Mac Donald has designed specific burgers for chinese taste, as they don't eat the same as americans.

Finally, the last one stands for promotion. When you are selling you product, you want the customer to know about it. You have to make him understand that your product is for sale and that it is able to satisfy his needs. To do this you have to run advertisement campaign on TV, radio, internet, or even on the point of sale, in that case it is called merchandising.

Then you combine all of this into one comprehensive integrated marketing program that communicates and delivers the intended value to chosen customers.