What is the Marketing Mix?
The concept of the marketing mix was introduced in 1953, it is a group of marketing variables.
Marketing mix variables are important marketing tools and the following components of the marketing mix are:
  •          People
  •          Process
  •          Physical Environment
  •          Product
  •          Promotion
  •          Personal Selling
  •          Advertising
  •          Direct Marketing
  •          Sales Promotion
  •         Price
  •          Place


Marketing 4Ps
Marketing 4Ps

What are the 4Ps of Marketing?
You heard about marketing P’s 8,7,5 and nowadays; the term uses 4P’s of marketing.
Your business will enhance based on the 4Ps of marketing, so the firms plan the marketing plan based on the 4Ps.
It is to help your business in terms of product, price, promotion, and place.
Note: Marketing 7Ps only for info
Marketing 7Ps
Marketing 7Ps


Product
Product is the first element of the four P’s of Marketing, but products have two types in the market.
Products are tangible goods or intangible services, tangible products examples are tablets, Mobile, Fan, etc, and intangible products are services.
Customers' need and want are important elements in the production of products.
If you don’t prefer customers' needs and wants, then your product doesn’t attract customers

How to understand customer needs and wants?
If you want to understand customer needs and wants, then you talk directly with customers.
You can send questionaries’ via email to your target customers and get feedback.
Nowadays, you are living in 2020, so there are many mediums available to understand customer needs and wants.
Social media has changed the world because you deliver your message within seconds to customers.

How is it differentiated from your competitors?
You need to differentiate your product from competitors and how to attract customers towards your product.
Customers want to have low prices, brand names, unique features, and attractive packaging.

Price
Who are your target customers?
When you decide on the price of your product, you know your customer’s mindset.
If your customers’ value is the product, then your product will sell at a higher price.
If your customers’ value is monetary, then your product will not sell at a higher price.
Price is a tough decision for a marketer because your customer has a different option in the market.
When you decide on your product price, then you need to remember your target customer and your profit.
Because you need both for survival in the market and don’t determine the price too high or low
You need to set a price based on your product cost, profit margins, expanse, direct or indirect costs
Price
Price

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How will your price compare with your competitors?
When you set a price for your product, then keep in mind your competitors. Are you new in the market? Or Are you competing at the same level as your competitors?
You have three options that are higher, lower, and the same price as your competitor.

Promotion
The product has been produced and the pricing strategy applies to it, and now the product is ready for promotion.
Promotion is an essential part of marketing's four P’s because your target customers don’t know about your product.
They don’t know the product features, price, packaging, brand, quality, and place.
So, it is necessary to inform your target customers because it is important to know about the product launching time.
Now, it’s time to use all the marketing strategies and techniques to promote products in the market.
We need to promote our product at the right time and if your products are seasonal.

How to promote your product?
You need to select a medium for promotion because the medium plays a major role to promote the product.
Nowadays, you can promote your product via different media channels electronic, print, and social media.
You can use the following media for promotion:
  • ·         TV Channels
  • ·         Print Media
  • ·         Social Media
  • ·         Direct Marketing

Place
The first three P’s have been completed, then you need to search out the place where your target customers have access to the product.
You learned one thing from that right product, at the right price, at the right place, and at the right time. 
You need to have the best market for your product and try to attract more customers.
If your product will be available only at the enormous store, then you will miss your large number of customers.
So, it is necessary to provide your product to every customer and try to reach the street, General Store. 
A distribution channel is the most effective way to target your customers, distributors have salesmen.
The salesman goes everywhere, and the product reaches long far areas. 
They try to place a product on the front shelf at the shop, and he communicates with the shopkeeper from time to time.
Front Shelf
Front Shelf


End Words
Marketer plan for product creation and after the product creation, they plan for pricing, promotion, and place.
If you use marketing 4Ps in the right way, you will grow your business. 
If you plan for marketing the 4Ps, then you will keep in mind your competitor.
Your competitor planning is important for you, otherwise you will not survive in the market.