The marketing communication mix is a set of tactical tools that a company uses to tailor its offerings to the desires of customers in the target market. In other words, the marketing mix includes all the activities that a firm undertakes to generate demand for its products and services. It is essential to offer the customer the right product at the right price and to ensure its availability. At the same time, it is important to inform the customer about the existence of the product.
Philip Kotler, along with Gary Armstrong, in one of the most widely used marketing books, aptly titled Marketing, define the characteristics of the marketing mix as "The marketing mix is a set of tactical marketing tools - product, pricing, distribution and communication policies - that enable a firm to tailor its offerings to the desires of customers in its target market."
The concept of the marketing mix, also known as the 4Ps, was first introduced by academic Jerry McCarthy in his 1960 publication Basic Marketing: A Managerial Approach. It can be broken down into several related categories that may overlap.
The marketing mix consists of the following 4 components: price, place/distribution, promotion and product. These components form the basis of everything your organization is about:
The 4P marketing mix provides companies with an overview of their current marketing approach and shows areas for improvement. When companies understand that the different components of the 4Ps are interconnected and should not be considered in isolation, they can develop comprehensive strategies that lead to improved results. It is also important to recognize that even though each of the P's is considered separately when developing an overall strategy, they influence each other.
For example, an increase in price may reduce demand due to availability problems, but at the same time may reinforce the perception of quality if associated with premium products. Similarly, changes in promotion can increase awareness, which in turn leads customers to consider buying.
The expanded 7P marketing mix then includes the following additional points:
The main key to using the marketing mix successfully lies in the right perspective. Some entrepreneurs make the mistake of seeing it only from a salesperson's perspective. However, for optimum results, the marketing mix should be understood primarily from the customer's perspective. We are talking here about the 4C (Customer Value, Communication, Convenience and Cost) marketing mix:
It is essential to define segmentation, targeting and positioning well before deciding to apply the marketing mix.
We are a leading Czech IT company that specializes in providing comprehensive services and solutions in the field of communication and information technology. Our company focuses on innovative approaches and we offer a wide range of services to help our clients optimize their business. One of our key services is cloud solutions. And what would the marketing mix for this service look like?
(This is a simplified example to understand the individual 4P items, it is not the actual Algotech mix)
When considering your business, don't just focus on your own needs, but rather the needs of your customers. Try to think like them. How will your product benefit them? What costs will they have to incur? How accessible is your product to them and how can you approach it so they know it's right for them? Be creative and innovative - the marketing mix is not just a template, tailor it to your company's needs.
Find out who your customers are, how to reach them and how to reach them. What is your biggest focus as a company? How do you want to present your company? There is no exact prescription, so of course always use your own judgement and the current situation. You just can't do it without innovation. The marketing mix should not be static, as it is constantly evolving, just like everything else.
At Algotech, we offer you not only data storage, but also a reliable and long-term partnership. Your data will be stored in our data centre in the Czech Republic. The price for purchasing OwnCloud is determined by your needs, not by the number of users you add. Our ServiceDesk is here for you 24/7/365 in both Czech and English. We respond to each request within 5 minutes on average and resolve most of them within 30 minutes. With us, you will have a long-term partner by your side who has been on the market for more than 25 years and who has more than 120 permanent specialists at his disposal.