What is the meaning of Marketing Mix? Concept, Definition of Marketing Mix

Concepts and meanings of Marketing Mix

Meaning of Marketing Mix

It is called marketing mix (also known as the marketing mix, mix commercial, business mix, etc.) tools or variables responsible for marketing available to meet the objectives of the company. They are the strategies of marketing, or marketing effort and should be included in the marketing (plan operating) plan. The company uses this strategy when it seeks to grab more customers.
The 'marketing mix' concept was developed in 1950 by Neil Borden, who listed 12 items, tasks and common concerns of the person responsible for marketing. This original list was simplified to the four classical elements, or "4 P": product, price, point of sale (distribution), promotion by McCarthy in 1960. The concept and the simplicity of it captivated to professors and executives quickly.
In 1984 the AMA (American Marketing Association) consecrated him in its definition of marketing: 'Process of planning and implementation of the concept of price, promotion and distribution of ideas, goods and services to create exchanges that satisfy individual and organisation objectives'.
Management of the marketing mix
For a strategy of mercadante (marketing mix) to be efficient and effective, this must have consistency between its elements, both with the segment or market segments that you want to conquer, the target market for the company.
For example, a strategy of selling luxury in discount stores products has little coherence among the offered product and the chosen distribution channel.
Long-term, mixing traditional four variables can be modified, but short term it is difficult to modify the product or the distribution channel. Therefore, short-term marketing managers are limited to working only with half of their tools.
Elements of the marketing mix
The elements of the original mixture are:
• Product or service: in marketing a product is everything (tangible or intangible) offered a market for its acquisition, use or consumption and that can satisfy a need or a desire. You can call product to material objects or goods, services, people, places, organisations or ideas. Decisions with respect to this point include the formulation and presentation of the product, specific development of brand, and the characteristics of the packaging, labelling and packaging, among others. We can say that the product has a life cycle (duration of this at the time and its evolution) that changes according to the response of the consumer and competition and that is drawn in the shape of curve in the graph. Phases of the life cycle of a product are:
1 Launch
2 Growth
3 Maturity
4 Decline
• Price: Mainly is the monetary amount of Exchange associated with the transaction (although also paid with time or effort). However includes: form of payment (cash, cheque, card, etc.), credit (direct, with document, delivery, etc.), discounts soon payment, volume, surcharges, etc. This in turn is which arises through a previous market research, which will define the price that will be assigned to enter the market. It should be noted that the price is the only element of the marketing mix that provides income, because the other components only produced cost. On the other hand, you should know that the price will closely linked to quality of product (as well as its exclusivity) feeling.
• Square or distribution: in this case is defined as a market where the product or service that is offered (element essential to make the product accessible to the consumer). It considers the effective management of the distribution channel, and must ensure that the product arrives at the right place, at the right time and under the right conditions. Initially, it depended on the manufacturers and now depends on itself.
• Promotion: Is to communicate, inform and persuade the customer and other stakeholders about the company, their products, and offerings, to the achievement of organizational objectives (how is the company = active communication; how the company is perceived = passive communication). Promotion mix consists of sales promotion, force sale or personal selling, advertising, public relations, and interactive communication (Direct Marketing by mailing, emailing, catalogs, Web sites, telemarketing, etc.).
The original mix proved to be insufficient with the development of the industry of services and social sectors, as well as three additional items are added:
• Staff: The staff is important in all organizations, but it is especially important in those circumstances that, there is no evidence of tangible products, customer forms printing company based on the behavior and attitudes of your staff. People are essential to both the production and delivery of most of the services. Increasingly, people are part of the differentiation in which service companies create added value and gain competitive advantage.
• Processes: Processes are all procedures, mechanisms and routines through which you create a service and delivered to a customer, including policy decisions with respect to certain issues of the client intervention and exercise of the discretion of employees. Process management is a key aspect in improving the quality of the service.
• Presentation: Customers form impressions in part through physical evidence such as buildings, accessories, layout, color and goods associated with the service such as briefcases, labels, brochures, labels, etc. It helps create the "environment" and "atmosphere" that is purchased or performs a service and to give form to the perceptions that service customers have. Tangibilizar service.
Mostly these last three apply to hotel and tourist industries.

Definition of Marketing Mix

Marketers use a variety of tools to achieve the goals we have set ourselves through their combination or mixture (mix). Therefore, we can define it as the selective use of the different variables of marketing to achieve business objectives. It was McCarthy who in the mid-20th century, called it the theory of the «four pes», since it uses four variables, whose initials in English beginning with 'p':
• Product - > product
• Place - > distribution - for sale
• Promotion - > promotion
• Price - > price
On the combination and classification of these four variables in the commercial decision spin some authors all strategy of marketing within the company. Our discretion, there are other variables that also marked the activity of marketing within the company. Let's think a moment to what extent can vary the fixing of the price of a product, taking into consideration the studies and analysis of the competition, the type of existing market and even the same socio-economic environment; Therefore, we can say that the success of a company shall be given by perfect knowledge and analysis of the different elements of marketing that affect your activity, and that through the implementation of the marketing plan will achieve objectives.
However, the evolution of the market has made that we Let's also known as mass marketing to relationship marketing or «four ces», where the future buyer is the center of attention of all marketing actions, as it is the trend in the 21st century.

Concept of Marketing Mix

What is the "Marketing Mix"?
First that nothing will define what Marketing. Marketing is the process of planning and executing the conception of the product, fixing of pricing, promotion and distribution of ideas, goods and services to create exchanges that satisfy individual goals as well as those of the organizations.

So, the Marketing is in Overview:
"A planning process: it is not the result of other actions, recognizing their participation in decision-making." "Besides that relates in different aspects with marketing with strategic planning."
Marketing must be composed of: creation and design of products, fixing the price, promotion, communication and distribution...
Focuses on the organisational sphere, the parties involved for this reason may be companies, public and private institutions, natural or legal persons. The relations of Exchange aims the satisfaction of organizations and individuals, not only goods and services but also ideas to achieve goals.
The Marketing Mix have developed multiple classifications on the different variables of Marketing. It highlights that reduces the number of commercial variables to four, known as the "four pes" of Marketing in its Anglo-Saxon meaning:
-Product (product)
-Place (distribution)
-Promotion (promotion).
-Price (price).
Thus, it is possible to define the Marketing Mix as a coherent combination of four variables that are the essential part of the Marketing activities.
On the other hand, it is also important to know what a Marketing Plan includes decisions to be made joint way of the four variables indicated, these shall determine inter alia the target audience which is directed the company, Marketing objectives, units to sell, the anticipated revenue, the strategy to be followed, the necessary resources, budget and time allotted to each variable.

What is Marketing Mix

In the field of Marketing, the concept of Marketing Mix is used to designate those tools and variables that says the head of the area to be able to realize the objectives proposed the company which serves.
It should be noted that the concept is due him to Neil Borden, who in 1950 popularized from the preparation of a list that enumerated twelve essential elements, more tasks and issues on which the head of the field of marketing should focus on. Such list is abridged and after the question is reduced to four essential elements, the four q: product (what tangible and intangible that is offered on the market to be sold and which normally satisfies the desire or need for the consumer), price (the amount of money that is stipulated by the Exchange in question), square (where is must sell the product or service) and promotion (implies communication(, the persuasion to the customer by the company so that consume its products).
Then, the marketing mix, also known as, marketing, commercial mix mix and commercial mixture, is the strategy that is cast to walk when the business requires especially get a larger number of clients.
The marketing mix worry to achieve and increase the satisfaction of the customer, who as we know is essential to bring the client to choose the product and also recommend between their environment, therefore, to achieve this must resort to various principles and methods through the management of the four P.
Meanwhile, it is necessary to take into consideration that to succeed in the objective the marketing mix must seek that elements are consistent among themselves, i.e., sell classic clothes in a business of clothing aimed at teens who like precisely the opposite colors eye-catching, original mixes and little traditional, not be coherent and wants directly against success commercial that haunts.

Meaning of Marketing Mix

Marketing, marketing or marketing is a discipline dedicated to the analysis of the behavior of markets and consumers. Through the study of business management, seeks to retain and gain the loyalty of customers through satisfying their needs.
The marketing mix marketing mix is a concept used to denote the set of tools and variables that the head of marketing of an organization has to comply with the objectives of the entity.
This means that the marketing mix is composed of the totality of the marketing strategies that aim to work with four elements known as the four q: product, price, place and promotion (advertising).
The marketing mix appeals to various principles, techniques and methodologies to increase the customer satisfaction based on the management of the four P. To be successful, the marketing mix must maintain consistency between its elements (no sense position a product in the luxury sector and then trying to compete with a lower price).
When working with the marketing mix, the expert must take into account if the objectives that arises are short or long term, since certain variables are difficult to modify in the nearest time.
Products, for example, have a life cycle that begins with the launch, continues with the growth, reaches maturity and finally goes into decline. The marketing mix must be taken into account in what phase of the life cycle is the product to design strategies.