29 Jun What to Consider When Choosing a Marketing Mix
One of the major challenges an organization faces is choosing a marketing mix best suited and aligned with their business objectives. It is through this right combination of marketing efforts that an organization can achieve its set objectives. This is both in the short term and in the long term. Simon Page has CIM Courses that are dedicated to allowing people understand and apply the marketing mix to achieve business goals.
However, when choosing the right marketing mix there are some things you need to consider:
Understand your product/service
Do you understand the value your product or service brings? This understanding is what shapes your choice of marketing mix.
Different products need different approaches especially when trying to communicate the value they bring. Some products also offer solutions to a problem, when choosing the marketing mix it is important to include strategies that can highlight this particular proposition.
Your marketing mix will be directly affected by the amount of money you have. However, this should not scare you especially if you have a low budget. Meticulous planning will stand as an advantage especially when you understand your product and have carried out a solid market research.
Always remember that a comprehensive marketing strategy accompanied by proper research will always go a longer way than having a larger marketing budget.
Experimenting with marketing tools
The list of marketing tools available is endless. Choosing the right marketing mix will depend on your exposure to the different marketing tools. In marketing trial and error is allowed. From the errors you learn what doesn’t work and how to optimize your efforts for better results.
For instance, brochures might work in some instances and in other cases it will not work. However, it is difficult to find this out without trying. Considering your budget and the value your product brings feel free to experiment.
Know your audience
A marketing mix is totally dependent on the audience. By understanding your audience you are able to determine the best ways to reach them. For instance, if social media is in your mix, understanding your audience will allow you to precisely target them and schedule your posts for times they are active on social media platforms where they are most active.
All in all, marketing is a fun field with a lot of learning. Which means choosing your marketing mix should not be a tedious affair. Have fun while at it.