IBM DemandTec's Strategic Marketing Planning provides Marketing Mix solutions
The marketing mix is one of the most famous marketing terms. The marketing mix is the tactical or operational part of a marketing plan.
Marketing decisions generally fall into the following four controllable categories:
Both real and perceived benefits of the product or service are counted in this category, hence a strong brand name might result in an unfounded belief that that business provides better quality products for the consumer’s money.
The price at which a product or service is sold still remains one the crucial influencers in the decision on whether to buy. Pricing goods at a significant premium to those of competitor’s products with no other obvious differences or features is unlikely to result is increased sales rewards.
The point of distribution, where customers can acquire the goods and services of the business is an important part of successful marketing. Once the decision to buy exists the enterprise must ensure that its offerings can be acquired both in the appropriate time and at an amenable outlet.
The location of "place" has changed significantly in recent years with the advent of the internet and online shopping. Place can now often mean home delivery following a purchase initiated through a computer browser.
Promotion focuses on using the available marketing and specifically advertising budget in a useful way possible. An analysis of where and how to promote a product or service should enable the manager to conclude on the form, duration, media type, message and other salient aspects of the marketing campaign.
The above mentioned solutions empower marketers to compete with other firms in this customer-centric marketing.This is the one of the reasons why IBM acquired DEmandTec to achieve it's Smarter Commerce initiative.
The marketing mix is one of the most famous marketing terms. The marketing mix is the tactical or operational part of a marketing plan.
Marketing decisions generally fall into the following four controllable categories:
- Product: combination of physical product and service provided to target customers
- Price: amount of money customers must pay to obtain the product or service
- Place: activities for getting the product or service available to target customers
- Promotion: modes of communication of product or service information to customers
Both real and perceived benefits of the product or service are counted in this category, hence a strong brand name might result in an unfounded belief that that business provides better quality products for the consumer’s money.
The price at which a product or service is sold still remains one the crucial influencers in the decision on whether to buy. Pricing goods at a significant premium to those of competitor’s products with no other obvious differences or features is unlikely to result is increased sales rewards.
The point of distribution, where customers can acquire the goods and services of the business is an important part of successful marketing. Once the decision to buy exists the enterprise must ensure that its offerings can be acquired both in the appropriate time and at an amenable outlet.
The location of "place" has changed significantly in recent years with the advent of the internet and online shopping. Place can now often mean home delivery following a purchase initiated through a computer browser.
Promotion focuses on using the available marketing and specifically advertising budget in a useful way possible. An analysis of where and how to promote a product or service should enable the manager to conclude on the form, duration, media type, message and other salient aspects of the marketing campaign.
The above mentioned solutions empower marketers to compete with other firms in this customer-centric marketing.This is the one of the reasons why IBM acquired DEmandTec to achieve it's Smarter Commerce initiative.
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