Using The Marketing Mix To Track Success

The marketing mix can help you track successful advertising campaigns whether you use the internet or other media to promote your service or product. This is done by allowing for the simple process of elimination when keeping track of which element of the marketing mix you are focusing the most on.

The mix is like a blend of various ingredients that make up an entire recipe. The idea is to find the balanced percentages in order to come up with a campaign that truly works in your best interest. Also referred to as the four P method, the marketing mix is a blend of various percentages of the product, the price, the place, and the promotion. Most of this is rather self explanatory.

Obviously, the product refers to the item or service to be sold. The price refers to how much the consumer might pay for it. The promotion is how hard you sell it and what aspect of the product you sell. The place refers to the way the consumer is going to receive the product.

These four elements are basically essential to a successful marketing campaign and you need to include them all. However, just like any other successful recipe it is not necessary, nor recommended, that you blend all of the ingredients in the mixing bowl with the same measurements.

If you keep everything even, the negative aspects of your product or service will eventually start to shine through. All products and services have some sort of negative aspect to them. If you maintain a high push toward the percentages that focus on the best aspects, you end up with a better marketing plan. Of course, in order to keep track of this you need to maintain a record of sort.

With each element all you really need to do is figure out which aspect of the marketing mix you are pushing the hardest and note the impact it has on your sales. Once you have this data in front of you, your next campaign is essentially priceless.