What Is Marketing Mix?

The marketing mix is ​​the set of actions a company takes to build and market its products and services to its customers.

This enables you to offer your customers the right product at the right place, at the right time, and at the right price.

The marketing mix has traditionally been driven by the 4 Ps of marketing, but today we’ve added 3 tools to make the 7 Ps of marketing. Companies use these marketing mix elements in combination to generate the desired response from their audiences.

Understanding the P’s of marketing is the first step in creating the ideal marketing mix for your good or service.

The 4 Ps Of Marketing Mix


Products are goods (music players, shoes, etc.) or services (hotels, airlines, etc.) that are offered as a solution to meet a customer’s needs.

When developing a product, we need to consider its lifecycle and plan for the various challenges that may arise during the product phase. Once the product reaches the final stage (the sales decline stage), it’s time to reinvent the item to regain customer demand.

Questions should be answered before marketing:

It is important to have a good understanding of the product before selling it. This includes learning more about your target group and their preferences.

Before developing your product, you should answer the following questions:

  • What is your product?

  • Is it a specific product or service? What does the product do?

  • Does your product meet your needs or offer a unique experience?

  • What distinguishes your product from the competition?

  • Who is your product’s target customer?


The next element in your marketing mix is ​​the price your customers are willing to pay for your product. This will help determine the profit you can make. When pricing your product, consider how much you spent to manufacture it, the price range of your competitors, and the perceived value of your product international B2B marketplace.

Questions should be answered before marketing:

To determine the most profitable price for a product, it is important to research the target he user and find out if they are willing to pay for the product.

Below are a few questions you should answer before setting up your product pricing strategy.

  • How much are your competitors charging for similar products?

  • What is the target consumer’s affordability and price range?

  • What is the minimum price at which an item can be sold? What is the highest price you can sell the product for?

  • Which prices are too high or too low for your target group?

  • What is the best price for your target market?


This is about the fulfillment center for the product and how it is delivered to the customer.

It should be easily accessible to your customers wherever they are. For example, if you have a brick-and-mortar store, it should be easy for customers to find it. If you have a website that sells products, make it easy to navigate.

Questions should be answered before marketing:

Not all locations are suitable for marketing and selling products. Therefore, it is important to sell your products in accessible locations and meet the needs of your customers.

Below are some questions to consider before deciding where to sell your product.

  • What locations and venues do shoppers go to for similar products and services?

  • Where do your competitors sell their products? 

  • What shopping habits does your target group have?

  • Do you need a sales team to deploy and distribute your products, do you use a sales force, or are you self-service?

  • How to access the right distribution channels?


Advertising refers to the methods companies use to direct their customers’ attention to their products. This includes promotions, customer service, public relations, advertising, etc.

When crafting your advertising strategy, consider your competitors’ tactics, the most effective channels to reach your customers, and whether they align with your product’s perceived value.

Questions should be answered before marketing:

For a product to be successful, it’s not enough to set the best price or provide a great product. Advertising is a key component of the marketing mix that allows you to distribute your product to the masses. Therefore, your advertising message should always address both your target group and your sales channel.

Below are some questions to consider when considering your advertising strategy.

  • When is the right time to reach your target group?

  • Through which channels or media will the target group receive information? 

  • Which advertising approach works best for your target group?

  • Which channel is the most cost-effective and efficient for product promotion?

  • What part of the target group should be addressed?

  • What do your competitors spend their advertising and marketing revenue on?


Define goals and set budgets

Setting the appropriate goals is the first step in creating a successful marketing mix. Establish the goals for your Marketing Strategy. Should I increase my sales? Get more customers? Do you want to build brand awareness like the Chinese B2B platform?

Once you’ve set realistic and measurable goals, decide how much you’re willing to spend to reach them. Research your target customer

Identify your unique selling proposition

Articulate your unique selling proposition through customer surveys, interviews, focus groups, and more.

Understand Your Competitors

Conduct a competitive analysis to understand the different strategies and tactics used by your competitors. This knowledge is especially useful when creating a pricing strategy.

Identify unique product features

List the unique quality and value of your product. You can build on that as you market it to your customers. 

Develop A Pricing Strategy

Create a pricing strategy based on the competitor research you have conducted. Make sure you’re not over-promoting or under-promoting your product.

Choose your sales channel and advertising method

Select the channel through which you will sell your product based on the nature of your product or service and your target audience.

And choose the advertising method you want to choose based on your budget and thus your customers and products.