Why marketing mix is important? Every company always do the marketing process. This is important to make the customers can receive the products. You need new strategies to make the customer interesting in your products. One of the types of marketing is marketing mix.
However, the marketing mix strategy is mixing 4 roles include a promotion, price, product, and place. These four main part is vital for all marketing strategy. In short, these four parts assist and supports you to see the potential market and also the potential buyers. If you still asking why marketing mix is important, we will try to explain to you each part of these 4 elements.
4 Main Parts on Marketing Mix
In the marketing mix, you will find 4 parts working together to build your company. These all are the same importance because they are interconnected.
Products are something you produce in an object or service to serve it for your customers. However, every company always wants the customers to love their products. In other words, your products should be capable to fulfill the customer’s needs.
Price is money that customers should spend when they want to use your products. It is an important thing because when your target is people with a low budget and you set a high price, they cant buy your products. As a result, you should analyze your potential customers to determine the right price.
As a company, you will need a place to distribute your product. Therefore, you need to analyze again where is the right place to open your market. If your business is online, you just need to find the right platform there. Besides, when it is offline, you should seek for the areas where customers usually looking for the products or services.
Last but not least another parts of the mix marketing is a promotion. Promotion is the way you introducing your products to your potential customers. In other words, this is useless when you had a great product but the customers didn’t know about it. There are available various strategies you can use to promote your products.
Why Marketing Mix is Important?
Those 4 parts of the marketing mix take an important position on each other. Here is some important thing.
1. Opening of income and revenue
Marketing develops opportunities for the company to bring them to get more profits. On the other hand, it will also increase of selling products in a short time. How good one company doing his strategy, marketing is still a gambling process because you can get big income, also a big loss.
2. Increase in Employment
Marketing is one of the most complicated practices that need more people to taking care of it. It is because marketing does a lot of activities like buying, selling, transporting, advertising and many more.
3. Opening New Ideas
The customers can easily get bored with marketing. That’s why marketing should searching for new ideas. With that new idea, the company should try to get a higher improvement. With the changes in the consumer’s taste and preferences company also changing quickly.
That is some explanation about why marketing mix is important for the company. In conclusion, it is up to you to used it or not.