Through the so-called marketing mix, marketing strategies are converted into concrete measures. The most important factors to this effect are the products themselves, with their various characteristics, prices and conditions, marketing channels and communication media and their content. These factors influence the success of a product and determine whether it can be launched into the market and maintained. The same rules for classic marketing can also be applied to online marketing, in that four areas are defined, referred to as the so-called four P’s:
The product conception deals with the product and its characteristics. Various aspects, such as whether the product represents a new development or further development, which functions it serves, how it is designed, what sizes and amounts are to be distributed, the desired quality of the product, its image and position on the market, and its corresponding services and warranties are hereby determined. On the completion of a product’s development, its technical factors and functionality are tested.
In the second column of the marketing mix, prices and conditions for the product are set. At this point, the production and distribution costs, as well as customer service fees must be calculated. It is also important to consider the target audience and market range, in order to determine what price is appropriate for the customer. The calculation also takes other factors into consideration, such as discounts, quantity premiums and payment conditions.
The distribution policy determines the manner in which the product reaches the customer. The essential differences between direct and indirect distribution are ascertained. The main focus of direct distribution is placed on available personnel and their fees, whereby the main focus of indirect distribution is placed on independent distribution channels and regulation. Details, such as storage, transportation and facilities are also resolved.
The communication policy, or product promotion determines the advertising methods and measures for sales promotion and tentative private sales. At this stage, advertising channels and PR methods are ascertained and a budget is set. Here, it is important to consider the particular audience targeted by the individual advertising channels in the communication strategy.
With your cooperation, we develop a marketing mix which is specifically tailored to your product and market. We offer competent assistance in launching your product and consult you in selecting the appropriate communication channels for achieving a successful market launch or the further development of your product.
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