Online Marketing & Digital Marketing Marketing mix strategy: what has changed and how to implement your strategy
Posted: Wed Dec 04, 2024 6:10 am
The marketing mix brings together a set of marketing actions and strategies that a company can use to promote its products or services more effectively . These tactics evaluate consumer behavior to detect their needs and satisfy them, taking into account 4 basic elements, called the 4 Ps of the marketing mix: product, price, place and promotion. Ultimately, the goal of the marketing mix is to get the right product out there, at the right time, place and price.
Although these 4 Ps of marketing continue to form the basis of the marketing mix, companies and their marketing strategies evolve to meet the new needs and demands of consumers. And this is what we are going to talk about in this article, how the marketing mix has evolved due to the emergence of digital marketing and how to carry out a strategy of this type today.
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Marketing mix strategy everything you need to know today
The 4 Ps of the marketing mix have changed
The marketing mix emerged in the 1960s around the 4 Ps we mentioned earlier and the so-called 4Cs of marketing (consumer, communication, convenience and cost).
Regarding the 4 traditional Ps of the marketing mix we find:
Product : This is one of the most important elements in this marketing strategy , as it is what will satisfy the needs of consumers, regardless of whether it is tangible or intangible. Before bringing it to market, you must make sure that it is something that the public demands and think about what its life cycle will be like, that is, its growth, maturity and decline. Your product cannot be static; it must evolve and reinvent itself over time so that sales continue to be stimulated and do not stagnate or fall excessively. The most common thing in this sense is to expand the product line by including more variety or by going deeper into what already exists.
Although these 4 Ps of marketing continue to form the basis of the marketing mix, companies and their marketing strategies evolve to meet the new needs and demands of consumers. And this is what we are going to talk about in this article, how the marketing mix has evolved due to the emergence of digital marketing and how to carry out a strategy of this type today.
Do you want to know how to successfully launch your armenia phone number material product ? Then learn what the best marketing strategies are to succeed. Click here and watch the related course.
Marketing mix strategy everything you need to know today
The 4 Ps of the marketing mix have changed
The marketing mix emerged in the 1960s around the 4 Ps we mentioned earlier and the so-called 4Cs of marketing (consumer, communication, convenience and cost).
Regarding the 4 traditional Ps of the marketing mix we find:
Product : This is one of the most important elements in this marketing strategy , as it is what will satisfy the needs of consumers, regardless of whether it is tangible or intangible. Before bringing it to market, you must make sure that it is something that the public demands and think about what its life cycle will be like, that is, its growth, maturity and decline. Your product cannot be static; it must evolve and reinvent itself over time so that sales continue to be stimulated and do not stagnate or fall excessively. The most common thing in this sense is to expand the product line by including more variety or by going deeper into what already exists.