The arrangement of the tactics, which the company utilize to promote the product or the brand in the market, is called market mixing. There are 4 P‘s which make a mixed marketing.
- Product The things, which are sold, are the product. These products must give satisfaction to the customer. For example, when a customer wants to buy a mattress from Mattress Firm Gilbert the customer or the consumer must have the satisfaction while sleeping on the mattress.
- Price The price should have the value for the product. Like if the Mattress Firm Gilbert sells a memory foam mattress with a best quality the rate must be equal to the quality. Or the price should be within the MRP rate.
- Promote The promotions may include launching offer, 50% discount such Mattress Store Gilbert offers you the mattress for ABC rate, or through social media, brochures etc. the main reason to promote is to make sure the people about the product and the company or the shop.
- Place The place plays an important role in marketing. Before selling a product one has to choose a proper place. One of the best example is starting a south Indian hotel in north will be a successful one. it’s because most of the north Indians loves south Indian dish. Another example is selling a mattress, if Mattress Firm Gilbert sells a mattress in the region where it is very cold then the business runs very good it is because in a colder region people sleeps on a mattress than on the floor.
Importance of market mixing
The market mixing helps to make the business plan in order to have a big success. One has to understand a lot on marketing. Here are more information on the importance of the market mixing.
The market mixing helps to clean the mix creation. As its already said market mixing contains the 4P’s and these 4 P’s should be linked to one another. Such as the price of the product must be suitable with the place and with the proper promotion.
Mixed marketing helps to develop a new product. We have many ideas for designing an existing product. But the price, and the other 3 factors may be different for the designed product. Still, this may be calculated as a brand-new product and thus when making a new one the company can get with a better ideas. Other than this it helps to increase the product depth, and a good business.