Marketing decisions generally fall into four controllable categories collectively called “The Marketing Mix.”  This mix is also sometimes called the “offering.”  A combination or “mix” of these variables takes some market research and experimentation.  The key to success is to always be exploring new combinations and keeping up with the market and your target audience.  Your offer is controlled by the following variables:

• Product
• Price
• Place (distribution)
• Promotion

Product

This is the most important thing in the mix, the physical product or the service that the entity is offering for sale to the public. You will need to market this to the customers by telling them the unique features and benefits the product has to offer.  Some examples of product decisions that you need to make are:

1. Brand name
2. Packaging
3. Warranty
4. Quality
5. Functionality

Price

This is the price or amount that the customer will pay in exchange of your product or service.  A good marketing strategy will ensure that people will get the perceived value as greater than the price they will pay for the product or service.  Some examples of price decisions that you need to make are:

1. Suggested Retail Price
2. Volume discounts
3. Wholesale pricing
4. Price flexibility
5. Seasonal pricing

Distribution (Place)

Placement or distribution, is about getting the products to the customer. This may either be online, offline, or both.  You will need to inform the public where the products may be available.  Some examples of distribution decisions are:

1. Distribution channels
2. Transportation
3. Market Coverage
4. Warehousing
5. Order processing

Promotion

Whether you are selling online or offline you will need to promote your product or service.  Online marketing makes it a bit cheaper to offer promotions and reach more people.  Some examples of promotion decisions are:

1. Marketing budget
2. Promotional strategy
3. Advertising
4. Sales promotions
5. Public relations

Each business has a different target market and audience.  The key to success with marketing is to understand and meet the needs of your specific market.  Sometimes this takes a bit of experimentation and trial and error before coming up with the best “mix” for your company.  Make sure that your product is geared towards the need of your target market, your price is within the budget of that market, you are distributing your product or service where it will be seen by that market, and gear your promotion to solving the problems of that market.

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