What is the ‘Full marketing mix?’
There is more to marketing than advertising. When you market an product or service for sale, you are estimating a number of things, starting with two critical questions:
1) What need your product or service will assist people with
2) Who specifically the product or service will assist.
Don’t fall into the trap of answering ‘everyone’ to question 2, there are very few products in the world for whom this is the case! Is it relevant for adults and children, for old and young, for people who are working or people without any income? If its a service to a business, is it all businesses within a geographical location? What is the need they have that your product will fix? Is it the same with everyone? Lots to decide!
Then there are a number of other things you will decide upon:
- What features, benefits and attributes you will put into the product that people will want to see
- How much you think people would be prepared to pay for it (and how it compares on price and attributes to other products in the market)
- Where you will sell it – online, in a shop, face to face
- Who will sell it – and the customer services processes including returns, loyalty benefits, knowledge required of your staff etc.
- What the physical product will look like, including the packaging – or if its a service, what the premises or other physical attributes of the service will be
- What your processes around this service from sales through to distribution to customer care will be and how you may articulate them as a benefit
- and finally – how you plan to tell people about this, and the special ways you will incentivise a sale.
When we work with clients, we make sure we capture a full marketing mix approach to your company’s offer. Building a strong value proposition and understanding your territory as split up by need is a critical-to-success approach to the foundations of your marketing plan and plotting the trajectory of your brand and sales is an important part of planning.
All facets of our marketing programmes take this Full Marketing Mix approach, ensuring you have a stronger and healthier business at the end of it.