Why does one project succeed and the other fail? And what is the secret of successful projects? The success of your project depends on your success in applying the steps of e-marketing, and your success in e-marketing is only the result of your success in applying the elements of the marketing mix professionally, but what is the marketing mix, what are its elements, and how to determine the elements of the appropriate e-marketing mix, this is what we will know in the next lines.
It is the tools, methods and strategies that the company uses thoughtfully in its marketing plan, which concerns the marketing process starting from the process of producing the product to promoting it and putting it on the market, in order to reach the target market and influence the customer (potential customer) in order to convince him of the importance of the product and turn it into a customer by convincing him to buy the product or service provided by the company.`
It is the stage of transforming marketing plans into implementation on the ground, and it is based on mixing multiple elements of marketing while working to integrate these elements with each other in order to obtain the expected response from the market.
The origin and development of the marketing mix
The beginning of the emergence of the marketing mix was in 1948 when James Culleton “James Culliton” Professor at Harvard University in the United States put the basic principle of the marketing mix, in which he described marketing management as a combination of marketing elements, and in 1953 the American marketing professor Neil Borden published an article entitled “The concept of the marketing mix” and to him is credited with gaining the term marketing mix popularity, as he used it in his speech to the American Marketing Association (AMA).
In 1960, the famous author Jerome McCarthy grouped these components together into four main elements (price, product, promotion and place), which were known as 4ps, and then developed by the famous economist Philip Kotler and helped spread it in academia and among marketers.
?What are the elements of the e-marketing mix
To understand the elements of the e-marketing mix, how the marketing mix works, its impact on the marketing strategy and its role in the success of the company, we must know its components first, and there are 3 types of marketing mix:
1- 4PS marketing mix
2-The seven marketing mix is 7Ps
3-The modified quadruple marketing mix is 4Cs
But first let’s get to know the quadruple marketing mix.
4Ps Marketing Mix Elements
The four-way marketing mix consists of 4 components that complement each other in order to build a successful marketing strategy to reach the desired marketing goals for the company’s success, and these elements are:
It is the first pillar of the marketing mix, and it is the most important element in it, as it is the one for which strategies and plans are determined and the rest of the elements of the marketing mix are in order to work on its success, and it is represented in the product or service that you offer in the market to your customers, but before putting the product or service on the market, there are many questions that you must answer at the beginning.
What is the product and what is its name?
What category do you need for this product?
Why do you need this product category?
What needs will the product meet for this category?
How will the product meet these needs?
How will the customer use the product?
What are the features of the product?
What are the disadvantages of the product and how do you plan to overcome them?
How does the product work?
Do there competitors for this product?
What is the competitive advantage that distinguishes your product over competitors’ products?
Is the product scalable over time?
How do you plan the product packaging process?
What are the after-sales services of the product?
Answering these questions ensures that you develop a strong structure for your product that helps you market the product successfully, another factor that you must study well is the product life cycle and includes:
Product development stage
Sales decline phase
Product Development Phase
It is the stage in which the product begins as an idea and then begins to develop through research and experiments until your product is ready to enter the market, at this stage you must study the market well and study the needs and problems of customers and know the desires that customers want to achieve so that you can develop your product to meet these desires, and you must try it in the market before it is put forward so as not to be surprised by the failure of the product.
At this stage, the product is at the beginning of the journey to know the market and customers, and at this stage the profits are few, and here comes the company’s role in spreading the product’s marketing message and promoting it through intensive advertising campaigns and advertisements so that awareness of the product increases and customers accept to buy it, and customers at this stage are called “riskers”, which is the category that prefers to try everything new in the market.
It is the stage of developing the product quickly and strongly, as the advertising for the product has borne fruit, and the product has become known to customers and the demand for it has increased, which is the stage in which sales increase and profits increase with it, and this stage is considered the most prosperous period of the product, so the company must exploit this stage by intensifying the publicity of the product and opening new markets for it.
The development of the product at this stage has become slow and sales have become almost constant, and here the company is working to maintain a constant selling rate to maintain its position among competitors.
Sales decline phase
At this stage, the selling curve of the product begins to decline and profits decrease, and customers leave the product to new companies, and here the company has to make a decision either to retreat and withdraw from the market or try to develop the product in order to compete with it again.
After studying the product thoroughly, the product must then be priced in a way that ensures profits, so we must understand the mechanism of pricing the product.
It is the second element of the marketing mix, and its importance lies in being responsible for the profit process, in the end the main goal of the marketing mix, strategies and marketing plans are all to achieve high profits, and pricing contributes significantly to building a mental image of the product in the minds of customers (Positioning) because many customers link the price of the product to its quality, so lower pricing can lead the company to lose customers.
Before determining the price of the product, companies must determine their pricing goals and what they want to achieve, there are many pricing goals such as:
Increase sales volume
Price Fixation – Prize Stabilization
Leadership and quality
It depends on knowing the costs necessary for the production process and the revenues obtained by the company and thus knowing the percentage of the company’s profits.
Increase sales volume
The company may seek to increase its market share by reducing the price of products, increasing the amount of products sold, and gaining more new customers in exchange for sacrificing profits.
Price Stabilization – Prize Stabilization
At this stage, the company is assured of the stability of the price and then competes in the market with other factors.
Leadership and Quality
Customers often associate quality with high price, so many companies seek to raise the prices of their products in order to build a mental image associated with high quality in customers.
Factors affecting the pricing process
Determining the price of a product is linked to doing a comprehensive market study to find out to answer many questions such as:
1-How much does the product cost?
2-What is the value provided to customers?
3-Will lowering the price increase its market share?
4-What are the prices of competitors?
5-Can your price compete in the market?
Also, there are other factors that affect the pricing process and can be classified into internal factors, and external factors:
These are the factors that fall under the control of the company, although it is difficult to control them completely, such as:
-Fixed and variable production costs.
-Targeting decisions for customers and where they are targeted.
These factors greatly affect pricing decisions, but the company cannot fully control them, such as:
Market conditions and the economic situation and how it affects the purchasing power of customers.
Laws and regulations related to marketing.
By knowing the pricing objectives and the factors affecting the product pricing process, the appropriate strategy can be developed for the product and the company’s plan.
There are many strategies that a company can use in pricing its products, including:
1. Price Skimming
2. Market Penetration Pricing
3. Product Line Pricing
4. Bundle Pricing
5. Psychological pricing
6. Value-based pricing
7. Dynamic Pricing
8. International Pricing
9. Premium Pricing
10. Segmented Pricing
11. Promotional Pricing
It depends on the company issuing the product at first at a high price and then reducing the price of the product or issuing a lower quality version to other segments in the market, for example, technology companies such as “Apple”, which releases a new product with new technology at a high price, and with the spread of the product significantly in the markets, the company reduces its price.
Market Penetration Pricing
This strategy is unlike the previous strategy, where the company initially releases the product at a low price in order to acquire a large market share of the market (Market Share) and sell a lot of products in order to compensate for the loss resulting from reducing the price, and with the success and spread of the product, the company may increase its price.
Product Line Pricing
This strategy depends on pricing a group of products that follow one product line, and here companies resort to relying on another factor to justify the difference in prices such as quality.
The most famous example of this strategy is the famous phrase “buy one get the other free” This sentence is the essence of this strategy where companies rely on grouping products into a group and selling them for less than the price of individual pieces.
This type is considered one of the most famous pricing strategies, and here the company resorts to a simple change in the price of the product, so it becomes 99.99 instead of 100, and despite the small difference between the two numbers, studies have proven that the first price gives the impression to the customer of the cheapness of the product.
The company here relies in the pricing process on the value that the product represents to the consumer, and also on the reputation of the producing company in addition to the cost price of the product, for example, paintings that may be sold for large amounts that exceed the value of the cost of tools, colors and the time spent in drawing them, but the evaluation here is based on other considerations such as the name of the artist and his date.
The pricing strategy here is based on the culture of supply and demand, where the company changes the price of the product based on several factors, including the type of customer, the size of demand in the market and the prices of competitors, for example, the high prices of hotels, airline tickets and taxis at peak times, and Amazon relies on this strategy, as it changes the price constantly depending on demand in real time.
This strategy is for companies that offer their products to other countries, and here pricing varies according to the policies of other countries, laws, taxes and customs duties.
It depends on selling your product at higher prices than competitors in order to give the advantage of excellence to your product, as it targets customers who want a sense of uniqueness, but the company must work to create a truly high-quality product and pay attention to packaging and brand identity.
A pricing strategy that depends on the difference in the price of the product according to the place of launch of the product and the difference in the target group of the audience, for example, the difference in the prices of tickets to enter public places for students from graduates and workers.
Promotional Pricing – Discount/Promotional Pricing
It depends on attracting the target customer by offering offers and discounts on products and it aims to increase sales for a specific period and reach customers interested in prices, for example, clothing stores that use this type of pricing in order to increase sales in the qualifiers at the end of the season.
The third element of the marketing mix and is intended is all the outlets used to distribute the product, whether real such as stores and stores or digital: such as electronic stores and direct sales pages on Facebook or Instagram or delivery channels used to deliver the product to the customer and the place element plays a key role in the product marketing process because it affects the purchasing decisions of the target customers so the place must be compatible with the product and price and to study the impact of the site on your product you must know the answers of some Questions such as:
Where are your products located and what are their points of sale?
Do you need distributors to distribute your products?
Are your products available in malls and department stores?
If available, is it in a clear place for customers?
Do your customers need help buying the product?
Where are your competitors?
Are your products available for purchase online?
Does the cost of delivery affect customer decisions when purchasing?
Is the delivery time fast or slow?
Understanding all these things helps you determine the best strategy to display your products to your target audience, as the easier and simple the process of obtaining your product, the better it will be for you.
It is all the activities necessary to know the customer about your product and convince him to buy it in order to achieve sales, so promotion is a big part of the success or failure of your project.
In the past, promotion was based on traditional means such as television and radio advertisements and billboards on the streets, but this means did not guarantee that your promotional message reaches all target customers, so it was necessary to provide another way to help reach customers in an integrated manner, hence the emergence of a new term known as integrated marketing communications “IMC.”
Marketing communications consist of a set of tools, which are known as the promotional mix, which the company chooses in proportion to it in order to promote its products in the market in order to reach a specific goal, and this promotional mix can consist of 5 elements:
Ads are one of the most famous and oldest marketing methods, as it depends on introducing people to your product or service in exchange for paying a certain amount of money, by studying the target audience, knowing its whereabouts, and then publishing ads in these places, for example: newspaper advertisements, television, radio and online ads, and to make a successful advertisement, you must pay attention to several factors, including:
- Who is the target audience?
- What is the purpose of the advertising?
- What is the advertising budget?
- Where is the ad published?
- What is the strategy for implementing the declaration?
- What are the results of the announcement?
If the goal of advertising is to promote your product, the goal of public relations is to build trust and credibility among people through influencers or individuals and institutions associated with your company directly or indirectly in order to support you in spreading awareness of your product or services in front of their audience.
There are several types of PR
Company Identity: such as work cards –(Uniform) – the company’s website.
Sponsorship: such as sponsoring events and activities that attract a large number of audiences in order to promote the company and the brand.
Promotional Events: It is a huge event organized by companies and contains many activities and events, and companies can distribute gifts or make discounts in order to make the event a success and attract a lot of attention to it.
Word of mouth: One of the most famous forms of advertising, as it depends on the transfer of opinions between people about the product and its nomination to each other.
It is a form of advertising based on encouraging customers to buy through discounts and offers, with the aim of increasing sales, but for a limited time.
Forms of sales offers:
Contests and Sweepstakes
It is one of the old forms of promotion and depends on the presence of a sales representative who encourages customers to buy the product by presenting the characteristics and benefits of the product and answering their questions, and despite the effectiveness of this method, it is very expensive.
A way to provide the company’s products and services directly without the need for an intermediary by communicating through various channels such as e-mail, in order to inform customers of the recent offers offered by the company.
Forms of direct marketing
3-Direct-Response Television Marketing
The importance of promotion in the marketing mix
-It helps in increasing awareness of your products and services and thus generating more leads and increasing sales.
-Helps companies divide the target audience into categories and target each category according to them.
-Improves the process of communication with customers and thus builds the process of trust, which ensures the loyalty of these customers to the brand.
-Helps the company to choose the most effective promotion elements and use them in promoting the company’s products and services.
?What are the seven elements of the 7Ps marketing mix
With the development of marketing methods, it has become difficult to rely on the old methods alone to convince the customer to buy, so the seven marketing model appeared, which is an extension of the four-way marketing mix with the addition of three new elements: people (Process) and physical evidence (Physical evidence) to support marketing operations and convince the customer to complete the purchase process.
This model appeared in 1981 when researchers Bernard Booms and Mary Jo Bitner presented a book entitled “Marketing Strategies and Organizational Structures of Major Companies” in which they presented the seven marketing mix 7Ps, which is the upgraded version of the 4Ps marketing mix, and we have previously talked about the 4Ps marketing mix, so we will learn in the next lines about the three additional elements:
The seven elements of the 7Ps marketing mix
This element represents all people working in the company, including employees, workers, sales representatives, customer service staff, delivery workers in addition to customers, and attention to training the company’s employees and working to develop their skills creates an excellent customer experience that ensures his loyalty to the company and ensures attracting more customers through marketing with praise Word of mouth
Operations – Process
It is a set of steps and procedures through which solutions are developed to the obstacles that may occur during the process of providing the product to the customer, starting from the purchase of raw materials to manufacture the product to the stage of purchase and rapid delivery of the product to the customer, and after-sales services, all in order to provide a distinguished service appropriately for each customer separately to ensure the customer’s loyalty to the company.
It is the environment surrounding the product, which is a guarantee of product quality and that the product is presented appropriately to customers, for example:
If you sell your product through a website, is the design of the site simple in a way that facilitates the purchase process for the customer?
If you sell your product in a store or store, do you deal with your customers properly?
Is the place suitable for your product and customers?
This is because the quality of service provided pushes the customer to buy from you and he is reassured and therefore you will be able to achieve high sales.
Elements of the modified quadruple marketing mix 4Cs
The modified 4Cs marketing mix appeared in 1990 and was developed by Robert F. Lauteborn and is considered a modification of the basic quadruple marketing mix model.
This model has been developed to understand the marketing process from the customer’s perspective and this combination includes 4 elements:
Companies develop products in order to meet the needs and desires of the customer, which is the most important element in the marketing process, so marketers must study the needs of the customer comprehensively.
The cost is no longer limited only to the price of the product only, but extended to include the total cost incurred by the customer to reach your product from the cost of buying and using the product and the cost of transportation, so when determining the cost, you must think about everything that is required from your customer to buy your product in order to reach customer satisfaction.
This element depends on the availability of the product in the right place for the customer, so marketers must ensure the availability of the product by distributing it to key points that are easy for the customer to access at any time.
It is not meant here as a promotional process, but extends to the process of communication between the two sides (the client and the company) in order to establish a dialogue with customers and listen to their suggestions and opinions in order to build a relationship of trust and loyalty with the customer in the long term.
?Why is the marketing mix important
The marketing mix is one of the most important factors behind the customer’s purchasing decisions, as the customer goes through multiple stages before making a purchase decision, so the importance of the marketing mix lies in:
Develop a coherent strategic plan-
-Excellence in the labor market
-Helping companies in times of crisis
-Development of new products
-Help improve work
Develop a coherent strategic plan
The elements of the marketing mix must be homogeneous with each other, the product must be homogeneous with the price and promotion is appropriate for the product and the place is suitable for the product and also suitable with the promotion process, because the integration of these elements with each other leads to the formation of an interconnected chain that helps achieve marketing goals.
Excellence in the labor market
Analysis of the marketing mix of competitors enables you to know their strengths and weaknesses and thus you can make promotional campaigns or develop your product better than competitors or make price adjustments to increase your sales and thus ensure you a competitive advantage at the expense of competitors.
Helping businesses in times of crisis
Your good knowledge of your product, promotion strategies, and pricing helps you in times of recession to adjust these elements to suit the company to solve the problem of bad working times.
New product development
Studying the product in depth to meet the needs of the audience while studying the rest of the elements of the marketing mix may lead to the emergence of many ideas that help to develop the product better or develop new products to meet the new needs of the target audience.
Help improve work
For continuous presence in the market, the product needs many continuous improvements to maintain its presence through new methods of recreation or adjusting the price to suit the market situation, and all these improvements help the product to survive for a long time.
The main goal of the marketing mix is to make more profits for the company by expanding the scope of selling products and attracting more new customers.
?How do you determine the elements of the right marketing mix
For example, when selecting a product, the company needs to take into account product development costs and manufacturing costs. When formulating pricing policies for a product, the company needs to consider competitors’ pricing, as well as potential customer demand strategies and pricing in order to increase profits. As for advertising and personalized selling strategies, the company needs to think about the most effective type of media to reach customers, as well as the best way to target potential customers and by properly evaluating these elements and determining the right mix of them, the company can create an effective marketing strategy that will help it achieve its marketing goals.
?What are the most important characteristics of a marketing mix
The marketing mix is characterized by several characteristics that may affect the product promotion process, including:
-The marketing mix is the essence of marketing.
-The marketing mix requires periodic follow-up.
-The marketing mix is flexible and adjustable.
-The marketing mix is suitable for commercial and non-commercial organizations.
-The marketing mix is oriented to customer satisfaction.-
-The marketing mix helps to achieve goals.
The marketing mix is the essence of marketing
A marketing mix is a set of components and elements that, when applied appropriately, lead a company to achieve its marketing goals.
The marketing mix requires periodic follow-up
The market is always in a state of constant change, so marketing managers must follow the developments and changes of the market in each element of the marketing mix in order to make appropriate adjustments in a timely manner to keep pace with these changes.
The marketing mix is flexible and adjustable
By monitoring internal and external changes, internal changes are represented in changing production lines or the size and scope of the production process and technical changes such as technological changes in the company, and all these changes require adjustments to the marketing mix in proportion to them, and the customer is the most changing external element due to the constant change of consumer tastes.
The marketing mix is suitable for commercial and non-commercial organizations
The marketing mix can be applied to non-commercial organizations that want to promote a service, for example, educational institutions that want to promote a training course (product) at the right price (pricing) by promoting the training course in the right way and in the right place.
The marketing mix is oriented to customer satisfaction
As the aim is to direct all marketing efforts in order to gain customer satisfaction, meet his needs and establish a loyal relationship between the customer and the brand.
The marketing mix helps to achieve the goals
Applying the marketing mix correctly and systematically helps to make more profits and gain a large market share.
With the spread of the technological revolution in recent years, companies and institutions need to develop their methods of marketing their projects, and here e-marketing appeared, which has become the ideal way to reach your potential customers, and here the need for e-marketing strategies has emerged.
E-marketing strategy: It is a set of practical steps taken by the company to implement long-term marketing goals, by exploiting various marketing channels such as:
Free accounts on social networking sites (Facebook, Twitter, Instagram and LinkedIn)
Sponsored ads on search engines.
Objectives of e-marketing strategies
The objectives of e-marketing strategies are to increase sales by understanding the target segment, meeting its needs, strengthening relationships with customers, building a good relationship and permanent and continuous communication with customers, and in order to ensure the success of the marketing strategy, we must focus on these elements:
-Study and understand your target audience
-Create a buyer persona.
-Study the stages of purchase.
-Identify appropriate marketing channels.
When creating a marketing strategy, you must set SMART Goals, which are goals that are specific, measurable, achievable, relevant to your business, and time-bound.
Study and understand your target audience
Studying and understanding the audience and knowing its requirements and desires helps you develop your product in a way that meets these desires and also helps you know the appropriate way to convince your customers to buy your products.
Create a buyer persona profile
“Marketing to everyone equals marketing to no one” Therefore, you must divide the audience into different categories and target the group most interested in your products or services and know basic information about them (such as age – geographical location – educational background – location) and know their needs, desires, goals and obstacles that prevent them from meeting these desires.
Study of the stages of purchase
Knowing the purchasing stage in which the customer is located helps companies to reach their target audience at the right time and with the appropriate marketing message and thus help you save time and effort in reaching your potential customers.
Identify the appropriate marketing channels
The marketing strategy should contain a list of marketing channels used to promote your products and services, and choosing the appropriate marketing channel depends on how easily you reach your potential customers in the target market in order to increase awareness of your brand and attract more potential customers.
The most important e-marketing strategies
An e-marketing strategy should contain these six basic elements;
-Create a store or website.
-Develop a social media marketing strategy.
-Search engine marketing.
-Create marketing videos.
-Use email marketing campaigns.
-Marketing through influencers.
-We will talk about them in some detail in the next lines.
Create a store or website
Creating a store or website is an effective way to help your target audience to see your products or services at any time and easily, which makes it an advantage that distinguishes you from your competitors, so be sure to create a professional site that helps increase customer confidence in your project.
Developing a social media marketing strategy
Social media has become one of the most important methods of e-marketing, as the number of users of these sites reached 4.7 billion users, which makes it a great way to reach a lot of your customers anywhere easily, and you can benefit from this strategy by creating accounts for your project on those platforms and starting to target your audience who is looking for your products or services, but first you must study these platforms well in order to choose the optimal platform for your business.
Search Engine Marketing
Search engine marketing or search engine optimization (SEO) is one of the most important elements of digital marketing strategies, as companies can increase their chances of appearing on the first page of search engine results by:
Create a blog in order to write exclusive and useful content for your target audience.
Paid ads (Google Ads) that appear on the first page in order to target your potential customers, which increases your chances of reaching these customers.
Create marketing videos
Creating marketing videos can also be an effective way to reach potential customers, so companies should also consider combining different elements of e-marketing strategies to maximize impact, which may include engaging in social media marketing or using email campaigns to complement SEO efforts.
Use email marketing campaigns
One of the most important strategies used in marketing depends on targeting the category that is interested in your products and then sending messages containing updates of promotions or new products, but before carrying out an email marketing campaign, the following must be taken into account:
Use a template for the form of an email message that is simple and easy to understand by customers.
Segment customers according to their age and interests.
Ensure that messages are sent to correct and used postal addresses.
Using celebrities to promote your products and services through the TV or radio screen is one of the old strategies in the field of marketing, but with the development of technology, there are celebrities and influencers for each of the social media platforms such as Facebook and Instagram, with which the company or institution can cooperate in order to reach a larger segment of the public, increase awareness of your brand, and achieve more sales and profits.
What are the advantages of private label?
All companies want to build their own brand, but we must first know what a brand is?
The trademark symbolizes the identity of the company, and it is a name, symbol or design that expresses the services provided by the company, which the consumer can know just by looking at it, as it is the cornerstone of building the company’s reputation.
1-It works to spread the message and vision of the institution in a simple and concise way.
2-It works to build trust and loyalty to the company’s branded products.
3-Affect the purchasing behavior of the customer who pays him to buy the well-known brand product.
4-Building a mental image of the company and its products in the market.
5-Building business relationships with other companies in the market.
?What are the advantages of private label
1-A registered trademark provides its owner with a guarantee that prevents any other parties from selling and marketing products identical to your products and thus protecting your products from counterfeiting and counterfeiting.
2-You can take advantage of your trademark rights to earn money by selling or licensing it.
3-You can develop it and raise its market value thus ensuring its presence in the market for a long time.
4-Offering shares for your company for sale and thus attracting many new investors.
5-Reduce the costs of advertising campaigns.
6-Enhance your brand’s mental image of the customer as a pioneer in your field.
In conclusion, in this article, we learned about the elements of the electronic marketing mix as the basic structure for building any marketing strategy by developing the appropriate product for the target audience, pricing it in proportion to their purchasing power, and reaching them through the appropriate places with the use of professional promotion methods in order to ensure the company’s success, enhance its presence in the market and achieve its marketing goals.
Top Marketing Mix FAQs
?What is the difference between marketing and promotion
People always confuse the concept of marketing and promotion, as some consider them the same, but there is a difference between the two terms and we will now mention the difference between them:
Marketing is: the set of activities and processes in which the company discovers the desires and needs of the target audience for the purpose of developing a product that meets these needs and can also be defined as any action performed by the company or organization for the purpose of attracting the public’s attention to its products or services
As for recreation, it is a branch of marketing, where marketing is the major umbrella under which promotions are carried out, and it is the activities necessary to increase the customer’s awareness of your product through attractive offers and encourage them to buy it in order to increase sales.
Marketing can exist without promotion, but promotion cannot exist alone.
Marketing depends on studying the desires of the audience and knowing their needs in order to develop a product that meets these needs and includes the production process, sales and after-sales services, and the focus of the promotion process is to create positive awareness towards the product in order to gain customer trust and includes some strategies such as advertising, public relations and personal selling.
Marketing and promotion go hand in hand with the success of a company’s marketing strategy in order to increase sales, attract more new customers and maintain the loyalty of existing customers.
?Why use the marketing mix
Used to develop a coherent strategic plan that helps to:-
-Excellence in the labor market.
-Helping companies in times of crisis.
-Development of new products.
-Help improve work.
-Make a profit.
?How important is the product element in the marketing mix
The product element is one of the important elements in the marketing mix because it is responsible for meeting the needs of the target audience, so studying the needs of the audience accurately ensures the implementation of a product that helps solve the problems of the audience and achieve its desires, so attention must be paid to the details of the product from the manufacturing process to the packaging process, and next to the product, attention must be paid to the rest of the elements of the marketing mix, so the pricing process must be compatible with the market value of the product and with the financial condition of the target group, otherwise your audience will not be able to buy it You must also pay attention to the locations of the product and its distribution places so that it is easy for your target audience to reach it, while making sure to promote it appropriately in order to increase awareness of the product and its characteristics and benefits so that you can build a positive image of the product and the company with the public, so making sure to apply the elements of the marketing mix professionally ensures that you achieve more profits and get a larger market share.
?What are the components of the marketing mix of services
The four-way marketing mix consists of 4 components that complement each other in order to build a successful marketing strategy to reach the desired marketing goals for the company’s success, and these elements are:
With the development of marketing methods, the seven marketing model appeared, which is an extension of the four-way marketing mix with the addition of three new elements: People, Process, and Physical evidence to support marketing operations and convince the customer to complete the purchase.
Why is there a difference between the marketing mix of services and the marketing mix of goods
This is because in marketing for the service we focus more on the element of service providers, which are people
People, Process, and Physical evidence to support marketing operations and convince the customer to complete the purchase.
Why is there a difference between the marketing mix of services and the marketing mix of goods
This is because in service marketing we increase the focus on the element of service providers, namely People, and this element represents all people working in the company, including employees, workers, sales representatives, customer service employees and delivery workers, and attention to training the company’s employees and working to develop their skills creates an excellent experience for the customer that ensures his loyalty to the company and ensures attracting more customers, while in marketing goods, the interest in the product element is represented in the product or service that you offer in the market to your customers to meet their needs.