4 Ps Of A Marketing Mix To Evaluate Success

Timing Matters When Implementing A Marketing 

A good marketing mix strategy will work if the company can determine the right time to contact the target market. Knowing when a person is at the right time to buy or use a product is crucial because that time could be the only time they will purchase the product or use it. In some cases, the market may be so saturated with products that no one will see the benefit unless it happens very frequently.

To determine when a company should contact its target customers, there are 4 different considerations. When a company has established a presence on the Internet, it is good to remember to set up a website. When a company has established a strong presence on television, it is important to remember to launch commercials. And when a company has a local presence in a specific area, it is helpful to have advertisements in localized papers.

The Next Step

Once a company has established all of these elements, they must test each element to determine how well each element is working. Each element can be tested by having a sales team call on potential customers. A sales manager will ask questions about demographics, purchasing habits, purchasing decisions, where customers live, etc. If one of the elements is working, then that tactic can be changed. However, often this process involves making changes in other tactics to ensure that all elements of the marketing mix are working together.

Making Adjustments According To Your Needs

Often, the marketing mix needs to be adjusted based on how well the product is selling. For example, if a company is launching a new soap bar and the advertising campaign is only generating small amounts of interest, the marketing mix might need to adjust to increasing the number of people who are contacting the company. This can be accomplished by creating a more aggressive ad campaign. In this case, the PSD to landing page ratio might need to be increased. The goal with an aggressive ad is to have more people go through the lead capture page than going through the sales letter. This can increase conversions because fewer people will end up leaving the sales letter because they were not interested in what was being sold.

Testing Is A Crucial Step

Once a marketing mix strategy is decided on, then the next step is to test the strategy. A testing phase can be done with little or no money upfront. The goal is simply to find out how well each of the Tactics is working. Then, adjustments can be made. Once this data is gathered, then the company will know which tactics to focus on in the future.

The New Four Ps

There are also four Ps that can be used to determine if a marketing mix is working. These are cost per click, search engine optimization, backlinks, and website copy. When these elements are combined, the results will be more likely to be successful. To determine which elements are working, there are several tools available for testing. All of them are free to use.

These are the core elements of a marketing mix. Other factors can be added into the mix as long as the strategy being used is one that is already in place. If a new product is introduced, for example, the company might want to focus on getting as many quality links as possible.