Elements Of Marketing Mix

Marketing Mix: Small Businesses Favor Both Traditional and Digital , New ...

There's a place in the small business marketing mix for both physical and digital communications, a new survey shows. The majority of small businesses (76 percent) agree that an ideal marketing campaign should have a combination ofcombine traditional and digital elements.

In a survey of 500 small businesses, Pitney Bowes, the office systems maker, found that email (68 percent) and advertising (60 percent) were small businesses relied on most for marketing, following by social media (50 percent) and direct mail (44 percent).

More than half of the respondents said they are choosing new channels because they are found to be cost effective in communicating information to their current and potential customers. The only thing holding them back from increased use of multi-channel communications is limited resources and time.

The newest tool to enter the marketing mix is Quick Response (QR) codes, which have become increasingly visible in recent months. While some respondents acknowledge a lack of understanding and perceived complexity toward them, among those using them among those using them, almost half (45 percent) are usinghave them the codes on their business cards and are integrating them in direct mail (44 percent).

"Small- business owners are increasingly challenged to effectively communicate with their customers and prospects in ways they want to be reached," said Debra Thompson-Van, Pitney Bowe's marketing vice president. "As a result, businesses are recognizing the requirement, and opportunity, of adding new customer communications channels. However, they neaed tools that are easy to implement and more information on how to use them to help build their business. They need guidance isn managing those tools, and confidence they will see a return on investment."

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Marketing Mix Applications

Caring Mobile, Inc is private Mobile Phone Company headquartered in Sydney, Australia, is the principal producer, designer, and distributor of cell phones intended or anticipated for teens. The vital product of Caring Mobile, Inc is a multimedia cell phone with a full colour screen, wallpaper, in built camera, and customizable ring tones. This cell phone enables teens to send SMS, make calls, take pictures, watch video, listen to MP4, and play games, the cell phone is at this time is being  sold at  an average price of US$99 per item. The mobile company market targets the Australian teens aged between ten to 15 years, as teens of this age bracket are more technically responsive and in actual fact long for goods that are conventionally taken as adult familiarized.

Marketing mix of multimedia mobile phone

Market mix is partial and part thing in terms of persuading or influencing target customers’ attitude. I would use the four P’s of marketing mix to control, and focus on the external and internal hampers of the market on target (.Loudon, 1988). My goal would be to formulate the resolutions, decisions, and verdicts that could centre the four P’s (Price, Product, Promotion and place) on the consumers in the intended market  to generate persuade value, thus creating  a positive response(Collins, 2007).  In manufacturing multimedia cell phone with quality default features, which largely targets youth segment in Sydney and its environs. In that effort I would have designed the most important element, component, and part   of market mix for the aim of positioning myself well in targeting clients mind domain. So, to position a make of this cell phone product at the pinnacle of the stepladder in youngsters mentality, I would designed my marketing mix as follows: To design the product in order to create major positive attitude from the targeted customer, the cell phone having features like default camera, customized ring tones, and video enabled features will be so timely for the kids’ curiosity (Foxall, 2005). Therefore the product could play double balancing tasks. On one side, multimedia cell phone would be used by these kids for communication purposes, and it would as well provide entertainment to the kids.

In accordance to the study discoveries the majority of customers are extremely anxious concerning the quality of the mobile phone, as having a variety of features. Quality in this sense increases comfort, entertainment, leisure, and better communication with no a meagre setback. I would ensure provision of quality product to the targeted market with maximum accepted industry criterions. This product would have passed product consumerization, as already familiarized with the target consumers. However, I would be required to determine whether customers value the supplementary advantage addressed by my product or not. Price is an unquestionably an important tactical unpredictable and in several markets, regardless of an escalation in the significance of non price aspects, it remains the principal determinant of end user preference. It is meaning is further highlighted by the reality that it is the sole function of marketing mix that makes or generates revenues as other elements of market mix only produce cost. In marketing mix pricing plays is very vital and given that is the only function of the market mix which generates revenues as others produce cost (Loudon, 988). Therefore, strong pricing objectives are important for market survival of the company. Further, in order for this company to realize the marketing goals efficiently, effectively, and successfully I would develop sturdy pricing goals of the product for attraction of positive attitude from the targeted potential market (Wansink 2006).

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