The Marketing Mix (or the 7 P’s of Marketing)

Product
Simply, what your business offers: this covers the combination of goods and services that your business offers.  A good product provides client value i.e. satisfaction of use outweighing the perceived sacrifice of amount paid.

Place
This refers to how your customer accesses your produce or service; it should be convenient for the client at all times.  How your customer accesses your product or service.  This could be your business premises, shop or online presence.

Price
What approach will you take to pricing your product?  Price communicates a lot about a brand. It is a key factor in the marketing mix – too low may put off the target market, too high will carry a high client service expectation which may be tough to fulfil.

Promotion
Refers to how you communicate with your customers.  The objective of the promotional mix is to communicate what the company does and what it offers, to the right people at the right time, in order to acquire and retain customers.

People
All people who come into contact with a potential customer are part of your marketing; they can have a profound effect on customer satisfaction.  Your staff or collaborative partners are ambassadors for your business.

Process
The processes you use in the day-to-day operation of your business ensuring that enquiries and orders are effectively managed.  Issues such as waiting times and helpfulness of staff, quality control, planning and feedback channels should be considered here.

Physical Evidence
This is the evidence you can provide to show you can do what you claim you can do.  Asking for feedback from satisfied customers to underpin your expertise and publishing it for potential customers to refer to.

The process of developing a marketing plan will help you understand the key benefits and features of your product or service, and how to go about attracting and retaining the right type of customer.

But remember, quoting the wise words of Darren Rowse from Problogger “There are no magic wands, no hidden tricks, and no secret handshakes that can bring you immediate success, but with time, energy and determination you can get there”.

Christine Davey
@DaveyMarketing

If you’d like some help on planning your marketing activities Tweet me or call me on 01273 772033 for an initial chat over a coffee!

Christine Davey Print Marketing

Does print still have a place in a world of digital and mobile marketing?

There is no doubt that we all struggle to find the best way to market our businesses with many small companies moving away from traditional print marketing as a way to cut costs and lessen their impact on the carbon footprint.

During these tough economic times companies are tightening their financial belts and turning their attention solely to digital and content marketing to create awareness and promote sales.

That said, printed collateral still has its place in certain businesses serving a specific demographic that appreciate and need a tangible representation of their product or service.

Certain sectors, such as retail, still rely on this tangible form of marketing to promote their products but manage to balance this with advertising across the relevant digital channels.

Whether you’re a superbrand or a one man band, getting the right marketing mix is critical and whilst content marketing is a hot topic at the moment, traditional print marketing can still be used effectively to drive customers online.  Here’s three tried and tested ways marketers use to reach specific target audiences:

Effective business networking – cards and flyers

Making a lasting impression when marketing face-to-face by handing someone a card or flyer is more likely to make your message stick. And, there’s some really clever designs and techniques out there which will give you an edge

The tangible, physical nature of print will help you network within your chosen circles allowing you to target local businesses, meet new prospects and exchange ideas much more effectively.

Smart targeting – direct mail

We all still love to receive a physical card with a special message in the post, so a personalized well-crafted campaign communicating special offers, discounts or events will show that you value your customer and appreciate their business.

If you schedule these messages carefully and sparingly, personally engaging your target audience, you’ll avoid being regarded as junk mail; if the message is relevant to the recipient, they are much more likely to respond.

Testing alternative media – press advertising

The most effective marketing plan is likely to cover different types of media to communicate business propositions and messages.

Whilst blogs and social networking is one effective way of driving traffic to your website, different customer types respond to very different types of media.  An older, more mature demographic may not surf the web as much as maybe reading a magazine or a newspaper.

A well designed advertisement in a relevant publication appealing to your specific target audience could be an effective alternative way to communicate with your customers.

So whilst traditional marketing methods seem to no longer curry favour, and with marketing budgets constantly being slashed, it’s all too easy to pass up on print.

I think there’s certainly still room for print marketing alongside newer digital marketing techniques, it’s all about making sure you don’t lose sight of your P’s!

Christine Davey
@DaveyMarketing

If you’d like some help on creating effective printed communications, Tweet me or call me on 01273 772033 today.