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The Marketing Mix and Consumer Decisions

By Jerry Grzegorzek on October 7, 2022 |

BUSINESS MANAGEMENT, MARKETING and MARKETING PLANNING

 

Each of the 4Ps of the Marketing Mix is of equal importance as it influences customers’ decisions.

Marketing strategies will only be effective when they help to achieve SMART business objectives. And if a marketing strategy is to achieve the firm’s marketing objectives, then all of the marketing decisions about The Marketing Mix – Product, Price, Place and Promotion must be linked cohesively with one another.

Questions about the Marketing Mix

Let’s take a look now at how consumer decisions help marketing managers to come up with appropriate Marketing Mix. 

PRODUCT:

  • What does the customer want from the product?
  • What features does the product have to meet these needs?
  • How and where will the customer use the product?
  • What does the product look like?
  • What size(s) and color(s) should the product be?
  • What is the product to be called?
  • How is the product branded?
  • How is the product differentiated versus competitors?

PRICE:

  • What is the value of the product to the buyer?
  • Are there established price points for products in this area?
  • What discounts should be offered to the customers?
  • How will your price compare with your competitors?

PLACE / DISTRIBUTION:

  • Where the buyers look for your product?
  • If they look in a store, what kind?
  • How can you access the right distribution channel?
  • Do you need to use a sales force?
  • What do your competitors do, and how can you learn from that and/or differentiate?

PROMOTION:

  • Where and when can you get across your marketing messages to your target market?
  • Will you reach your audience by advertising in the press, or on TV, or in the radio, or on billboards?
  • When is the best time to promote?
  • How do your competitors do promotion? And, how does that influence your choice of promotional activity?

All of the aforementioned questions will help the marketing manager to better identify the target market. In short, all the elements of The Marketing Mix must be consistent for the marketing strategies to work effectively.

KEYWORDS:

CATEGORIES: BUSINESS MANAGEMENT, MARKETING AND MARKETING PLANNING

 

Jerry Grzegorzek
Jerry Grzegorzek | BA (Hons), MA, PGCert, PGDip

Hi! I am Jerry. I am the owner and Editor-in-Chief of this website. I am experienced Lecturer and Researcher in Business Management, Head of Business and Economics, and IB Examiner for DP Business Management at International Baccalaureate (IB). I make business education accessible to everyone in the world by providing high-quality business resources for CEOs, directors, business managers, business owners, investors, entrepreneurs, business journalists, business teachers and business students. Privately, I live with my family in China from where I run a vlog Nie Te Chiny about my family life. MORE »