Marketing truly is about teams and individuals working together to 

promote a product in
the right place at the right price point. Efforts beyond this scope are essential, but they do
all stem off of this foundation of the marketing mix.

Here, we're going to dive into what a marketing mix is and how to develop a successful
marketing mix strategy for your own company.

The marketing mix refers to the actions a company takes to market its product(s) and/or
service(s). Typically, it acts as a framework for breaking down the four key components of
marketing — product, price, place, and promotion.

The marketing mix helps companies organize their marketing initiatives by task and
department for more process-driven and impactful marketing campaigns.

This framework has roots dating back to the 1940s and has been evolving ever since.
While some elements have been added or tweaked over the years – most notably for
the modern digital age – the core elements of the marketing mix (i.e. the four P's) have
remained consistent for decades.

How to Develop a Marketing Mix Strategy

Because the marketing mix incorporates elements from across your department – and
even your company – it's imperative to establish a marketing mix strategy for each
product you launch, or for your company as a whole. For a fully fleshed-out marketing
mix, follow these steps.

1. Engage in market research and product development.

The success of your marketing work is first and foremost contingent on your product.
Make sure it's well developed and your team can speak to its benefits and the story
behind it.

Best practices in this step include:

 Engaging in market research to understand your buyers' needs.

 Speaking to your current customers to uncover their pain points and see which needs
to address in your current product or service line.

 Monitoring industry trends to identify a potential demand in your market.

 Examining the competition.

 Collaborating with your product team during product development to ensure it meets
your buyer personas' needs.

 Having your product tested by current customers to see how they're using the product
or service and if it's actually solving for their problems.
Taking these actions ensures you're making every effort to understand and solve for
your customer, providing a solid foundation for your product to launch successfully.

Featured Tool: Market Research Kit. To make your R&D more impactful, use these free
market research templates so you can better understand your customers and
competitors.
2. Determine your pricing model.
A lot goes into choosing a price point – so much so that we wrote an entire guide to
pricing strategies.
Luckily, you'll be able to refer to much of the work done in the previous section. Thanks
to your understanding of your market through research, you'll have answered most of
the necessary questions in this section. You'll also need to take your costs into account
so you can maximize unit sales and profit.

During this stage, make sure you do the following.

 Speak to customers (or refer to previously completed market research) to determine

the ideal selling price.

 Work with the product team to ensure the product can be developed in a cost-effective
manner that would ensure profitability at your target price point.

 Meet with financial experts to determine aggressive yet realistic sales forecasts to
contribute to the company's bottom line.

 Collaborate with your sales team to determine discounting strategies.

 Determine how you'll adjust price and revenue forecasts when selling through
resellers.
Lastly, don't forget to factor in the perceived value by the customer. Even if your product
or service doesn't cost a significant amount to make, you'll be able to mark up your
product more if you face little competition and provide an irreplaceable benefit to your
customers.
 Featured Tool: Pricing Strategy Calculator. If you need help selecting your pricing model,
use this template to compare different pricing strategies and see which will yield your
company the most profit and revenue based on your forecasts.
3. Choose your distribution channels.
The "place" part of the marketing mix answers where your product will be sold. Keep in
mind, this can be any combination of your store, a distributor's store, or online. You'll
want to address the following points before moving onto the promotion stage:

 Determine if your product will fare best in your physical location, a store of another
retailer, on your website, on another company's website, or some combination of these
locations.

 Think about geographic location – make sure your supply meets regional demand, and
plan for whether or not what you're selling will be available in a certain city, a state,
the country, or worldwide.

 Come to an agreement with retailers and resellers on margins, markups, and

manufacturer suggested retail prices (MSRP).

 Figure out how many salespeople will be needed to ensure you meet your goals.

 Set goals for retail, third-party sellers, since you may be sharing shelf space or search
results with a competitor or two.

4. Select your promotion tactics.

Finally, it's time to promote your product. While this is probably the element most
associated with marketing, it's crucial that this element be completed last, because you
need the foundation of product, price, and place before determining promotion tactics.

Think about it – shouldn't you know what you're promoting, why you're promoting it,

and where it's available before actually promoting it? It's tempting to jump right to this
step, but your promotion will be much better off if it's done after everything else in the
marketing mix.

Once you do have that understanding, consider the following promotional channels and
choose the one(s) that makes the most sense for your product, its buyers, and its price
point:

o Content marketing efforts, such as blogging, content creation, and building a website.

o Public relations and working with affiliates and/or influencers.

o Social media marketing – both organic and paid – on channels such as LinkedIn,
Facebook, and Instagram.
o Search engine ads on sites like Google and Bing.
o Ads to air on video streaming sites like YouTube, or on TV.
o Event marketing, including attending industry events or hosting your own event.
 Customer marketing and utilizing referrals.
 And more – There are countless promotional ideas you can use to spread the word on
your product, service, or business.

https://blog.hubspot.com/marketing/marketing-mix

https://blog.hubspot.com/marketing/marketing-mix

https://blog.hubspot.com/marketing/marketing-mix

1. Product ( produk )
Product adalah segala sesuatu ( barang atau jasa ) yang ditawarkan kepada
masyarakat untuk mendapatkan perhatian, pembelian, atau dikonsumsi guna
memenuhi kebutuhan dan keinginan masyarakat. Bukan hanya kualitas produk yang
dibutuhkan konsumen, namun sistem pelayanan yang diberikan dan desain produk
yang menarik juga memberikan nilai lebih pada konsumen untuk membeli atau
mengkonsumsi suatu produk.

2. Price ( harga )
Price adalah sejumlah uang yang harus dibayar konsumen untuk mendapatkan sebuah
produk atau jasa. Atau dapat juga diartikan sebagai nilai tukar untuk memperoleh
keuntungan dari produk atau jasa yang dibutuhkan. Harga merupakan salah satu
variable marketing mix yang bersifat fleksibel, terkadang bisa stabil dalam beberapa
waktu dengan harga tertentu namun bisa juga tiba – tiba meningkat atau turun tajam
disesuaikan degan kondisi permintaan pasar.

3. Place ( tempat )
 Place merupakan kegiatan bisnis
untuk membuat produk atau jasa yang ditawarkan lebih mudah terjangkau oleh
konsumen, dan dapat tersedia pada sasaran pasar yang tepat. Variabel tempat juga
meliputi saluran distribusi untuk menjangkau konsumen yang tersebar luas. Sehingga
beberapa perusahaan membuka kantor cabang di daerah – daerah untuk memudahkan
konsumennya.

4. Promotion ( promosi )

Promotion adalah kegiatan untuk memperkenalkan suatu produk atau jasa pada pasar
sasaran, untuk membangun persepsi pelanggan mengenai produka atau jasa yang
ditawarkan. Konsep promosi yang biasa digunakan antara lain advertising, public
relation, sales promotion, personal selling, serta direct marketing.

5. Process ( proses )
Process adalah serangkaian tindakan yang diperlukan untuk memberikan produk atau
jasa dengan pelayanan yang terbaik kepada konsumen. Suatu proses bisa berisi
tentang metode atau prosedur yang diberlakukan untuk memperoleh produk yang
dibutuhkan konsumen. Proses pelayanan yang cepat, mudah dan ramah memberikan
nilai lebih konsumen terhadap suatu produk.
6. People ( orang )
People adalah semua orang yang terlibat dalam kegiatan memproduksi produk serta
memberikan pelayanan produk kepada konsumen. Orang yang memproduksi dan
memasarkan suatu produk juga memiliki penilaian dimata konsumen.

7. Physical evidence ( bukti fisik )

Physical evidence adalah perangkat – perangkat yang dibutuhkan untuk mendukung
penampilan suatu produk, sehingga memperlihatkan secara langsung kualitas produk
serta pelayanan yang diberikan kepada konsumen.

Dari pembahasan pentingnya marketing mix dalam berbisnis, dapat disimpulkan bahwa

ke tujuh variabel yang ada pada marketing mix saling berhubungan, sehingga harus
ada koordinasi yang baik dengan berbagai divisi yang ada pada suatu perusahaan
untuk menghasilkan konsep pemasaran yang tepat. Salam sukses.