Developing the Marketing Mix

Developing the Marketing Mix

Digital Marketing, according to Wikipedia, “is the component of marketing that utilizes internet and online-based digital technologies such as desktop computers, mobile phones, and other digital media and platforms to promote products and services.”

What can be deduced from the above definition and several other definitions of digital marketing is that marketing forms an integral component of digital marketing. In order to excel in digital marketing, you need to be well grounding in marketing, the forerunner of digital marketing. Our focus on this blog post is on the marketing mix.

The marketing mix is the set of controllable, tactical marketing tools that the firm blends to produce the response it wants in the target market. It consits of everything a company or firm can do to influence the demand for its product. It is encapsulated in the following four Ps:

  1. PRODUCT: This means the good and services combination the company offers to the target market.
  2. PRICE: This is the amount of money customers have to pay to obtain the product.
  3. PLACE: This includes company activities that make the product available to target consumers.
  4. PROMOTION: This means activities that communicate the merits of the product and persuade target customers to buy it. Companies invest heavily on promotion in order to create awareness for their products.

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