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MARKETING: Creating the Right Marketing Mix
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Creating the Right Marketing Mix
By Kitty Williamson

BT 201808 Marketing 01过去,老人常说“酒香不怕巷子深”,但现在如果企业主不懂营销策略,那必然是“酒香也怕巷子深”。营销策略的缺失不仅会导致难以获取新客户,更会使得老客户的维护也成为一个艰难的问题。本期栏目就将为各位正在为营销推广而头疼的你带来一些有用的营销策略。



To get the right approach in creating the right marketing mix is not as easy as it sounds. How do you intend to achieve this? In order to get it right, you need to organize some marketing tactics and identify your marketing funnel and sales challenges. Once you arrive at the right marketing concoction, it brings in new sales and sustains your business over a long period of time. If you stay consistent with analyzing your marketing, you will discover the right trend that promotes your business.

A successful marketing mix that produces the intended result focuses on a target audience. Each step or tactic is frequently evaluated to ensure uniqueness to the potential customer or already existing customer. As your business grows your attention shifts from prospective customer to sustaining existing ones. Sustaining already existing customers is more cost effective than acquiring new customers. Well, to get your new business up and running, here are steps to create the right marketing mix.

Evaluate your Target Market

You need to map out strategies that can effectively reach your target market in a way that is profitable. Your brand image should have positive impact and represent your business. Is your product fulfilling its needs in the current market? Are your customers satisfied with your product or service? Does your increase in product price affect sales? It’s all about having the right product, at the right place and at the right time. Find a balance between the price of product and the cost of production.

Be Generous on Marketing Budget

BT 201808 Marketing 02Of course, the major factor that affects product promotion is lack of budget planning. An entrepreneur that needs to generate 400 leads over the next 6 months requires more marketing tactics and high budget than the need to generate 150 leads. Be realistic with your goals to avoid overspending. Placing your new product and service on the market needs more budget spending for product promotion.

Your budget planning also depends on:

• Cost of advertising your product to reach your target customer
• Your type of competitors - are they well established? Do they spend more on promoting their products?
• Your business objectives and how to reach your target market.

Try Different Marketing Tools and Strategies

BT 201808 Marketing 03A particular marketing tool may not be enough for product promotion. You might consider social media (Twitter, Facebook and YouTube), direct mail, trade promotions, flyers and coupons to attract new customers. Choose different tools you can use over a period of time with enough frequency for your message to penetrate. Identify the right media which your customers visit to acquire information relevant to your type of product and service.

Get to Know Your Customers

BT 201808 Marketing 04A recent study shows that 75 percent of business owners lack costumer data for effective marketing. You need to get hold of customer data, with a more robust website tool to study their behavior. Also, knowing your buyer persona is of utmost importance.

Every business owner wants to increase his ROI and to effectively achieve this goal you need know who your customers are or who buys your product. Go to your customers, organize personal interviews with your prospective buyers and carry out research on ideal customers.

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