A marketing mix is important in business because it maximizes a company's chances of achieving steady, continual success in its operations. A marketing mix also ensures that a company remains responsible to its customers by living up to its product claims.Continue Reading
In marketing theory, a marketing mix is defined by the four "Ps," which include product, price, place and promotion. Because a company's products define them, companies must honestly do their best in backing up their product claims. For example, if a company advertises that a dishwashing liquid contains 100 uses but the bottles only yield 75 uses, that company must repackage the product to yield 100 uses or readjust the product claims.
Second, the price of the product must reflect the budget, moderately priced or high-end market of the company's intended customers. Therefore, a company must not charge inflated prices for very low-end ingredients contained within a product. Third, a company's marketing mix must include accurate product placement to ensure that its product reaches its target customers. This includes advertising in the right publications and placing the actual product in the stores that a company's target audience shops in regularly. Finally, a company's marketing mix promotion efforts includes product packaging, public relations efforts and branding as well as the sponsorship of well-respected people who attest to the product's claims and benefits.Learn more about Marketing & Sales
Information that may appear in the sales and marketing section of a business plan includes the target audience for the company, the key features of the product, the major elements of the brand's identity and the budget for the sales and marketing teams. The document also needs to provide clear, actionable methods for completing various sales and marketing tasks.Full Answer >
Exporting marketing is a storage that allows a company or business to increase market share. Businesses will maintain manufacturing and production within their own country while seeking foreign markets to export their goods and products.Full Answer >
Business-to-business, or B2B, marketing refers to a company's marketing strategies to target business customers. B2B is distinct from business-to-consumer marketing, where companies go after household customers. A primary difference is that B2B often focuses on logical or rational appeals, whereas B2C marketing often attempts to appeal to consumer emotions.Full Answer >
Tips for finding a good marketing vendor include identifying marketing needs, finding prospects, developing success criteria and narrowing options. Finding the right vendor is essential to business success.Full Answer >