The Marketing Mix and 4 Ps Understanding How to Position Your Market Offering

Products at the right price in the right place! iStockphoto/Nikada What is marketing? The definition that many marketers learn as they start out in the industry is: Putting the right product in the right place, at the right price, at the right time. It's simple! You just need to create a product that a particularly group of people want, put it on sale some place that those same people visit regularly, and price it at a level which matches the value they feel they get out of it; and do all that at a time they want to buy. Then you've got it made! There's a lot of truth in this idea. However, a lot of hard work needs to go into finding out what customers want, and identifying where they do their shopping. Then you need to figure out how to produce the item at a price that represents value to them, and get it all to come together at the critical time. But if you get just one element wrong, it can spell disaster. You could be left promoting a car with amazing fuel-economy in a country where fuel is very cheap; or publishing a textbook after the start of the new school year, or selling an item at a price that's too high or too low to attract the people you're targeting. The marketing mix is a good place to start when you are thinking through your plans for a product or service, and it helps you avoid these kinds of mistakes. Understanding the Tool The marketing mix and the 4 Ps of marketing are often used as synonyms for each other. In fact, they are not necessarily the same thing. "Marketing mix" is a general phrase used to describe the different kinds of choices organizations have to make in the whole process of bringing a product or service to market. The 4 Ps is one way probably the best-known way of defining the marketing mix, and was first expressed in 1960 by E J McCarthy. The 4Ps are: Product (or Service) Place

Price Promotion A good way to understand the 4 Ps is by the questions that you need to ask to define you marketing mix. Here are some questions that will help you understand and define each of the four elements: Product/Service What does the customer want from the product/service? What needs does it satisfy? What features does it have to meet these needs?

Are there any features you've missed out? Are you including costly features that the customer won't actually use? How and where will the customer use it? What does it look like? How will customers experience it? What size(s), color(s), and so on, should it be? What is it to be called? How is it branded? How is it differentiated versus your competitors? What is the most it can cost to provide, and still be sold sufficiently profitably? (See also Price, below). Place Where do buyers look for your product or service? If they look in a store, what kind? A specialist boutique or in a supermarket, or both? Or online? Or direct, via a catalogue? How can you access the right distribution channels? Do you need to use a sales force? Or attend trade fairs? Or make online submissions? Or send samples to catalogue companies? What do you competitors do, and how can you learn from that and/or differentiate? Price What is the value of the product or service to the buyer? Are there established price points for products or services in this area? Is the customer price sensitive? Will a small decrease in price gain you extra market share? Or will a small increase be indiscernible, and so gain you extra profit margin? What discounts should be offered to trade customers, or to other specific segments of your market?

How will your price compare with your competitors? Promotion Where and when can you get across your marketing messages to your target market? Will you reach your audience by advertising in the press, or on TV, or radio, or on billboards? By using direct marketing mailshot? Through PR? On the Internet? When is the best time to promote? Is there seasonality in the market? Are there any wider environmental issues that suggest or dictate the timing of your market launch, or the timing of subsequent promotions? How do your competitors do their promotions? And how does that influence your choice of promotional activity? The 4Ps model is just one of many marketing mix lists that have been developed over the years. And, whilst the questions we have listed above are key, they are just a subset of the detailed probing that may be required to optimize your marketing mix. Amongst the other marketing mix models have been developed over the years is Boom and Bitner's 7Ps, sometimes called the extended marketing mix, which include the first 4 Ps, plus people, processes and physical layout decisions. Another marketing mix approach is Lauterborn's 4Cs, which presents the elements of the marketing mix from the buyer's, rather than the seller's, perspective. It is made up of Customer needs and wants (the equivalent of product), Cost (price), Convenience (place) and Communication (promotion). In this article, we focus on the 4Ps model as it is the most well-recognized, and contains the core elements of a good marketing mix. Using the 4Ps Marketing Mix Model The marketing mix model can be used to help you decide how to take a new offer to market. It can also be used to test your existing marketing strategy. Whether you are considering a new or existing offer, follow the steps below help you define and improve your marketing mix. 1. Start by identifying the product or service that you want to analyze. 2. Now go through and answer the 4Ps questions as defined in detail above. 3. Try asking "why" and "what if" questions too, to challenge your offer. For example, ask why your target audience needs a particular feature. What if you drop your price by 5%? What if you offer more colors? Why sell through wholesalers rather than direct channels? What if you improve PR rather than rely on TV advertising?

Tip: Check through your answers to make sure they are based on sound knowledge and facts. If there are doubts about your assumptions, identify any market research, or facts and figures that you may need to gather.

4. Once you have a well-defined marketing mix, try "testing" the overall

offer from the customer's perspective, by asking customer focused questions: 1. Does it meet their needs? (product) 2. Will they find it where they shop? (place) 3. Will they consider it's priced favorably? (price) 4. And will the marketing communications reach them? (promotion) 5. Keep on asking questions and making changes to your mix until you are satisfied that you have optimized your marketing mix, given the information and facts and figures you have available. 6. Review you marketing mix regularly, as some elements will need to change as the product or service, and its market, grow, mature and adapt in an ever-changing competitive environment. Key Points: The marketing mix helps you define the marketing elements for successfully positioning your market offer. One of the best known models is the Four Ps, which helps you define your marketing options in terms of product, place, price and promotion. Use the model when you are planning a new venture, or evaluating an existing offer, to optimize the impact with your target market.
Cc sn phm vi gi hp l ng ni! Marketing l g? nh ngha m cc nh nghin cu a ra khi h bt u ra trong ngnh cng nghip l: a cc sn phm phi ng ni, vi gi hp l, vo ng thi im. l n gin! Bn ch cn to ra mt sn phm m mt nhm c bit ca nhng ngi mun t n trn bn mt s ni m nhng ngi cng truy cp thng xuyn v nh gi mt mc ph hp vi gi tr m h cm thy h nhn ra n, v lm tt c nhng ti thi im m h mun mua. Sau , bn c n lm! C rt nhiu s tht trong tng ny. Tuy nhin, rt nhiu cng vic kh khn cn phi i vo tm hiu nhng g khch hng mun, v xc nh ni h mua hng ca h. Sau , bn cn phi tm ra lm th no sn xut cc mt hng mt mc gi m i din cho gi tr cho chng, v nhn c tt c n vi nhau ti cc thi im quan trng. Nhng nu bn nhn c ch l mt yu t sai, n c th chnh t thin tai. Bn c th c li thc y mt chic xe tuyt vi nhin liu-nn kinh t trong 1 t nc ni m nhin liu l rt r, hoc xut bn mt sch gio khoa sau khi bt u nm hc mi, hoc bn mt mn hng 1 gi qu cao - hoc qu thp - thu ht nhng ngi m bn ang nhm mc tiu. Marketing hn hp l mt ni tt bt u khi bn ang suy ngh thng qua cc k hoch ca bn cho mt sn phm hay dch v, v n s gip bn trnh nhng sai lm. Tm hiu Cng c

Marketing hn hp v cc Ps 4 ca tip th thng c s dng l t ng ngha cho nhau. Trong thc t, h khng nht thit phi iu tng t. "Marketing hn hp" l mt cm t chung c s dng m t cc loi khc nhau ca s la chn t chc phi thc hin trong ton b qu trnh a mt sn phm hoc dch v cho th trng. Cc Ps 4 l mt cch - c l l cch ni ting nht nh hn hp tip th, v ln u tin c th hin trong nm 1960 bi EJ McCarthy. 4Ps l: Sn phm (hoc dch v) t Gi Khuyn mi Mt cch tt hiu cc Ps 4 l nhng cu hi m bn cn phi yu cu xc nh bn tip th hn hp. Di y l mt s cu hi s gip bn hiu v xc nh bn yu t: Sn phm / Dch v khch hng mun g t sn phm / dch v? Nhng g cn n p ng? tnh nng, khng phi p ng nhng nhu cu ny? C bt k tnh nng m bn b ra? Bn c bao gm cc tnh nng tn km m khch hng s khng thc s s dng? Lm th no v ni m khch hng s s dng n? N trng nh th no? Lm th no khch hng s c tri nghim? iu g kch thc (s), mu sc (s), v nh vy, n nn c? l nhng g c gi l? n mang nhn hiu nh th no? Lm th no l s khc bit so vi cc i th cnh tranh ca bn? n c th chi ph cung cp l g, v vn c bn y li nhun? (Gi, di y). Ni Trng hp no ngi mua tm kim sn phm hoc dch v ca bn? Nu h nhn vo mt ca hng, loi no? Mt chuyn gia hoc ca hng trong mt siu th, hoc c hai? Hoc trc tuyn? Hoc trc tip, thng qua mt ca hng? Lm th no bn c th truy cp cc knh phn phi? Bn c cn phi s dng mt lc lng bn hng? Hoc tham d cc hi ch thng mi? Hoc trnh trc tuyn? Hoc gi mu cho cc cng ty danh mc? bn i th cnh tranh lm g, v lm th no bn c th hc hi t v / hoc s khc bit? Gi gi tr ca sn phm hoc dch v cho ngi mua l g? C thit lp mc gi cho sn phm hoc dch v trong lnh vc ny? gi ca khch hng nhy cm? Gim nh trong gi c s c bn chia s th trng thm? Hoc mt s gia tng nh s khng th nhn ro, v t c thm li nhun? gim gi nn c cung cp giao dch khch hng, hoc cc phn on khc c th ca th trng ca bn? Lm th no gi ca bn s so snh vi cc i th cnh tranh ca bn? Khuyn mi u v khi bn c th nhn c qua cc thng ip tip th ca bn vo th trng mc tiu ca bn? bn s tip cn vi khn gi thng qua qung co trn bo ch, trn truyn hnh, i pht thanh hoc trn bng? Bng cch s dng mailshot tip th trc tip?Thng qua PR? Trn Internet?

 Khi no l thi gian tt nht thc y? C tnh ma v trn th trng? C bt k vn rng ln hn mi trng ngh hay chi phi thi gian ra mt th trng ca bn, hoc thi gian ca chng trnh khuyn mi tip theo? Lm th no i th cnh tranh ca bn lm chng trnh khuyn mi ca h?V lm th no nh hng n s la chn ca bn hot ng qung co? M hnh 4Ps l mt trong nhiu danh sch kt hp tip th c pht trin trong nhng nm qua. V, trong khi cc cu hi chng ti lit k trn l cha kha, h ch l mt tp hp con ca cc thm d chi tit c th c yu cu ti u ha hn hp tip th ca bn. Trong s cc m hnh tip th hn hp c pht trin trong nhng nm qua l Boom v Bitner ca 7Ps, i khi c gi l hn hp tip th m rng, trong bao gm 4 1 Ps, cng vi con ngi, quy trnh v quyt nh b tr vt l. Mt cch tip cn hn hp tip th l Lauterborn ca 4Cs, trong trnh by cc yu t ca marketing hn hp ca ngi mua, ch khng phi l ca ngi bn, quan im. N c to thnh nhu cu khch hng v mun (tng ng vi sn phm), chi ph (gi), tin li (ni) v Truyn thng (promotion). Trong bi ny, chng ti tp trung vo m hnh 4Ps nh n l tt nht c cng nhn, v c cc thnh phn ct li ca mt hn hp tip th tt. S dng m hnh Marketing Mix 4Ps M hnh tip th hn hp c th c s dng gip bn quyt nh lm th no c mt ngh mi cho th trng. N cng c th c s dng th nghim chin lc tip th hin ti ca bn. Cho d bn ang xem xt mt ngh mi hoc hin ti, hy lm theo cc bc di y gip bn xc nh v ci thin tip th hn hp ca bn. 1. Bt u bng cch xc nh cc sn phm hoc dch v m bn mun phn tch. 2. By gi i qua v tr li cc cu hi 4Ps - theo quy nh ti cc chi tit trn. 3. Hy th hi "ti sao" v "nu" cu hi qu, thch thc cung cp ca bn. V d, hy hi l do ti sao khn gi mc tiu ca bn cn c mt tnh nng c bit. iu g xy ra nu bn gim gi 5%? iu g s xy ra nu bn cung cp mu sc hn?Ti sao bn hng thng qua bn bun ch khng phi l knh trc tip? iu g xy ra nu bn ci thin PR ch khng phi l da vo qung co truyn hnh? Mo: Kim tra thng qua cu tr li ca bn chc chn rng chng c da trn kin thc v s kin m thanh. Nu c nghi ng v gi nh ca bn, xc nh bt k nghin cu th trng, hoc cc s kin v con s m bn c th cn phi thu thp. 4. Mt khi bn c mt hn hp tip th c xc nh tt, hy th "kim tra" cung cp tng th t quan im ca khch hng, bng cch t cu hi khch hng tp trung: 1. N c p ng nhu cu ca h? (Sn phm) 2. H s tm thy ni h mua sm? (Place) 3. H s xem xt n c gi thun li? (Gi) 4. V truyn thng tip th tip cn vi h? (Khuyn mi) 5. Hy t cu hi v lm thay i hn hp ca bn cho n khi bn hi lng rng bn ti u ha hn hp tip th ca bn, cho thng tin v cc d kin v s liu bn c sn. 6. Xem xt hn hp tip th thng xuyn, nh mt s yu t ny s cn thay i sn phm hoc dch v, v th trng ca n, pht trin, trng thnh v thch nghi trong mt mi trng cnh tranh lun thay i.

Nhng im chnh: Marketing hn hp s gip bn xc nh cc yu t tip th thnh cng v tr cung cp th trng ca bn. Mt trong nhng m hnh tt nht c bit n l Ps Four, gip bn xc nh cc ty chn tip th ca bn v sn phm, gi c, a im v xc tin. S dng m hnh khi bn ang c k hoch mt lin doanh mi, hoc nh gi mt cung cp hin c, ti u ha tc ng vi th trng mc tiu ca bn.