The marketing mix and its components is a set of controlled variable marketing factors that is used by the organization to provoke a response from the target markets . As a rule, the response refers to the manifestation of increased customer interest in a particular product, which ensures the company's profit growth.
The marketing mix and its components are an integral part of the enterprise, whose main goal is to increase revenue.
There are the following types of marketing mix:
1) The marketing mix (4P) consists of four components: product, product delivery to consumers, price and promotion of goods on the market.
Product - depends on the assessment of cash flows, their direction and forecast. An integrated approach is to expand the range within the limits of our own distribution network, as well as to enter new markets.
Price is the most important economic tool of the marketing mix, which has a direct impact on the company's profitability. Depending on the pricing strategy, the company may have a policy of low or high, differentiated or uniform, discriminatory or preferential, unstable or stable prices.
The essence of promoting a product on the market is to promote the brand of a product, increase its sales and create the image of a new product. Product promotion strategies consist of all kinds of contests, promotions, lotteries, credit facilities, discounts, etc.
The method of marketing the goods can be made by the enterprise itself, or with the help of resellers (distributors, sellers, dealers, brokers, various agents, etc.)
The concept of 4P is inherently a marketing position in which the seller forms his sales strategy, and the consumer perceives it as an opportunity to receive advantages and certain benefits.
2) Currently, additional components are added to the marketing complex (4P) and its components, allowing to form such models as 6, 7 and 12. These components include: packaging, purchasing, personnel, clientele, purchasing process, environment, profit and public relations.
3) Today, there are trends according to which the concept of 4C is increasingly used to improve the balance of external and internal marketing environment . This marketing mix and its components consists of the following components: consumer needs and needs, information exchange, purchasing costs, convenience. The main priority of this complex is consumer preferences. According to this concept, the mandatory factors are suppliers, contact audiences and competitors. However, as practical experience shows, these factors will not be determining.
Despite concrete attempts to increase the number of components of the marketing mix, in the end, it remains unchanged. But, despite this, at the moment, it is relevant to conduct research on the interaction of the environment and the marketing mix, marketing tools and resources.
The marketing mix and its components are an integral part of various marketing concepts. Choosing the right marketing concept entails an increase in profits. This choice depends on the goals of the business, as well as internal and external environmental conditions.
One of the main concepts is the concept of traditional marketing, the essence of which is to orient the company towards the consumer. The application of this concept involves: there are needs that cannot be satisfied by existing goods, market demand is much more than supply, the buyer pays the highest price for a product that satisfies his needs. This is the most favorable opportunity for a company to occupy a found market niche to ensure the arising needs and gaining finance, which is the meaning of any business.