What Are The Basic Elements Of Marketing Mix?

The basic elements of marketing activity are known as the combination of strategies and practices to lead the organization to success, as they were

 

What are the factors affecting the marketing mix?

The basic elements of marketing activity are known as the combination of strategies and practices to lead the organization to success, as they were introduced by Professor of Marketing Edmund Jerome McCarthy and divided into four main elements: product, price, place, promotion, and it was known in English 4Ps The reason for this is that it begins with the letter P, and is also known as the basic elements of the marketing mix. The elements of the marketing mix are affected by several factors that affect the success of the marketing process, and the article will present some of these factors.

What are the factors affecting the marketing mix?

The factors affecting the marketing mix are divided into several factors, each of which affects one of the four basic elements of the marketing mix, and the following is a description of some of them:

Factors affecting the product

The product is the first element of the marketing mix and is affected by several factors, as follows:

Profitability

Profitability is a primary goal for all organizations, as the necessary adjustments are made to products to get a positive reaction related to higher profits, and organizations prefer to provide more products and increase production lines to get more profits.

Objectives and Policy of the Company

Organizations design their own product mix to achieve their goals, as it is prepared and modified to be one of the means of achieving these goals. Therefore, any addition or modification to products and production lines will be based on the goals and objectives of the organization. When preparing the product, the focus must be placed on following the policies of the organization to get the best result.

Production Capacity

The production capacity is defined as the upper limit of the outputs produced by the enterprise in line with its production capacity so that the decisions of the marketing mix are made depending on the production capacity, and therefore the enterprise, when preparing its own product mix, must use the optimum production capacity to obtain an effective mix with high efficiency...

Factors affecting the price

Price is one of the basic elements of the marketing mix, and the following are some of the factors that are affected by it: 

Organizational Decision Making and Implementation

Administrative skills, specifical decision-making, are one of the skills that must be possessed when choosing the right price. All management levels must work in concert to choose effective pricing strategies; By doing an effective analysis of the cost, competitor strategies, and the proportion of demand, the organization should ensure that the right person is placed in the right place to take on this task.

Distribution Network

Distributors make profits from selling the products they buy from the manufacturer or from other distributors, but the manufacturer must ensure that they get a fair share of sales; The institution can only continue its work in coordination with distributors; Therefore, the pricing process will be directly affected by the distribution network.

Factors affecting location

There are several factors that must be taken into account when choosing a location, and the following are some of them

Avoid Competition

You should avoid choosing a place where there are a lot of competitors in order to start your business, as surely your competitors have a loyal customer base; Which will negatively affect your sales percentage, so you should choose a place that has room for you to present your offer.

Visibility

By owning a site that is visible to more people, the organization will have an advantage over the competitors; Although visual sites have a higher cost, their effect is good in the long run. So that more people will know about your service or good.

High Footfall

You must choose a place that has a high turnout of people, as choosing a place that is rarely visited will lead to the failure of the project, even if it has a good idea.

Accessibility

Places that customers can reach easily are better than hard-to-reach places, so you can choose a place in the city center or a place that is more popular with people.

Factors affecting promotion

Promotion is defined as the element of all advertising-related communication processes, and the factors affecting it are explained below:

Nature of the Product

The process of product promotion varies according to its nature, where the method of mass advertising for some products is adopted, while some of them depend on the method of personal selling, and there are several methods of marketing that are used depending on the product, and thus the selection of the promotional method depends on the brand or product being presented.

Nature of the Market

The promotional mix of the organization is determined by relying heavily on the nature of the market and customers, whereas the advertising method is used in industrial markets; Unlike consumer markets that use other methods, product promotion generally depends on age, gender, education, income, and religion.

Market Size

Small and limited markets follow the direct selling method, unlike large markets that rely mainly on advertising.

Read also: Digital Marketing All You Need To Know


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