What is Marketing Mix?
Marketing is simply defined as putting "the right product at the right place, at the right price and at the right time. The concepts behind the marketing are product and service, its price, its promotion, its distribution, shortly "Marketing Mix" or " Four Ps".
There have been numerous studies, theories, and concepts about marketing, one of which was Neil Borden's 12 ideas.These are - Product Planning, Evaluation, Marking, Distribution Channel, Individual Sales, Advertising, Promotion, Packaging, Demonstration, Service, Human Resources, Analysis.Later, in 1962, Cerry McCarthy simplified these concepts and laid the foundations for the 4P concept. The name of the concept is the initial letters of the following notions. The use of a marketing mix ensures that the right product is in the right place. A marketing mix is an important tool that helps you understand what product or service you can offer and how well the product is planning. The marketing mix is implemented through 4P.
1. Product
2. Price
3. Place/Placement
4. Promotion
PRODUCT - First of all, the product stands for marketing strategy. The product is tangible goods or intagible service that meets the needs or requirements of a particular customer. The products are produced according to the requirements, needs and interests of the period. The features and benefits of the product offered after production are delivered to buyers in a unique sales process. At the same time, potential buyers of the product are also predetermined.
PRICE - Price is set after product is ready. The price of a product affects how it will be sold. The price of the product should be such that no matter how high or too low its value is. In this case, it will be impossible to sell the product. Therefore, the price is to market in the market, and to demonstrate in a planned manner after learning about the prices offered by competitors.
PROMOTION - Marketing communication strategies and techniques are included in the introductory section. These can include ads, sales citations, special offers, and public relations. The tool used must match the product, price and end user. It is important to know the difference between marketing and promotion. Promotion is simply a communicative aspect of marketing functions.
PLACE OR PLACEMENT depends on how the product is delivered to the customer. Point of sale and sales channel, where the product is sold, means the platform. Choosing a customer center location is both cost-effective and cost-saving.
