Guide to a Profitable Marketing Mix

You may have heard the term Marketing Mix used in connection with marketing planning.

Marketing Mix means the combination of promotions, products, places (distribution channels), and prices you chose for your business. Including both short term and long term strategies in the marketing mix can make for a more profitable business.

Long term strategies build brand/company awareness and give sales revenue a permanent, gradual boost. Short term strategies create a temporary, immediate revenue boost by giving buyers an incentive to purchase.

By implementing both long and short term strategies, you can attend to immediate sales goals while building your business reputation and goodwill. Some examples of both types of strategies are below.

Long Term Strategies

Branding. General advertisements and other high profile activities contribute to your company's image. These points of contact with your target customer help mold your image, which in turn can create loyalty from your customers.

Philanthropy. Donating money, services, and/or time can build trust and a positive image for your business. Philanthropy contributes both toward your branding efforts and your company's internal well being.

New Product Pipeline. New products in development represent your future sales. If you get feedback from your customers or potential target market then design new products (or change existing ones) to meet their needs, you are ensuring a demand for your products in the future.

Short Term Strategies

Reduced Price Sales. Limited time sales encourage customers to act. You likely have customers intending to buy but have not "gotten around to it". Holding a sale will give them incentive to purchase.

Group Discounts and Offers. Discounts or other offers to a specific group can help exposure your business to new customers, resulting in a sales surge.

Pay-Per-Click Search Engines. Pay per click search engines are another way to become visible to new customers. Use them carefully, however. Do not bid more per click than the profit you expect to make from that click.

Search Engine Roles in the Marketing Mix

High search engine placement can produce both short term and long term results. Short term, you can gain immediate sales. Long term, results come as potential business partners find your site.

Do not, however, become obsessed with search engine optimization to the detriment of your other marketing strategies. Search engine marketing should be one part of a more comprehensive plan. Include other marketing strategies in your plan to reach additional customers.

As an example of how this can work, I generally put only two or three hours a month into direct search engine optimization. My primary focus is on quality content, which simultaneously creates stronger search engine rankings for my site and makes the site more attractive to visitors. This approach has gotten me results with Google - nearly 20,000 visitors a month through the free search engine as of June 2004.

Another approach to search engine optimization is to hire an outside expert to work on search engine marketing while you focus internally on other parts of the marketing mix. If you take this route, however, be alert for agencies that use tricks that go against search engine guidelines to increase your rankings. These approaches may get you results in the short term, but could get your site reduced in rankings or banned in the long term.

Once you integrate both long term and short term strategies into the marketing mix, your business is better poised to prosper for years to come.

About the Author

Bobette Kyle draws upon 12+ years of Marketing/Executive experience, Marketing MBA, and online marketing research in her writing. Bobette is proprietor of the Web Site Marketing Plan Network http://www.WebSiteMarketingPlan.com and author of the marketing plan and Web promotion book "How Much For Just the Spider? Strategic Website Marketing For Small Budget Business, howmuchforspider.com/TOC.htm .

Copyright 2003 - 2004 Bobette Kyle. All rights reserved.

How to Connect Features and Values

"Buy this magazine or we'll shoot the dog," went a... Read More

Print Marketing Campaign, Whats Important and Whats Not!

Every company searches to lure customers to their product. Unless... Read More

The Added Effectiveness of Promotional Products in Your Marketing Plan

Recently, I stopped by a new car wash in my... Read More

How to Magnetize Your Business

Do you ever wonder how some businesses always seem to... Read More

Help! What Happened?

Let's be honest, when you're writing sales material for a... Read More

Deciphering Marketing Lingo: Whats the Difference between a USP, Single Message and a Tagline?

Maybe you've heard these different marketing terms, maybe you haven't.... Read More

The Marketing Plan and the Four P?s

The Marketing Plan section of the business plan demonstrates how... Read More

How to Leverage Your Most Powerful Marketing Tool

Second in a series of three articles:What if you could... Read More

Is Your Company A Member Of The Community?

One particularly hot south Texas day, I was making a... Read More

The Key to Success

Good business is about communication... not just what you say... Read More

How to Tie a Tie and How To Kiss - What Do They Have In Common?

How to Tie a Tie and How To Kiss -... Read More

Matrix Web Sites - Scam or NOT?

While I am not talking about the movie "Matrix", you... Read More

Chill Out With A Summer Time Marketing Plan

Is your business experiencing a summer time slump? Traditionally only... Read More

Maximum Marketing - Minimum Budget

Two years ago I started my small Virtual Assistant business... Read More

Tracking Your Way to the Top!

I often wonder how people without a plan know where... Read More

The X Factor

So you've invested more time than you ever believed possible... Read More

What Our CAT Taught Me About Marketing!

Toby is one of our two family pets (both cats).... Read More

Postcard Direct Mail Marketing Tips And Ideas

Postcards are perhaps the least expensive way of reaching a... Read More

Business Cards that Make Them CALL

How would you use business cards for gift certificates?I asked... Read More

Five Most Common Mistaken Beliefs About Joint Venture Marketing

Apart from being the fastest, easiest, and most profitable strategy... Read More

6 Simple Ways to Determine Which Marketing Ideas Are Best for Your Business

Did something catch your eye in a direct mailing this... Read More

Data Map Charting for Mobile Businesses

As we study the demographic regional variations for small service... Read More

The Art of the Business Card

Use a business card as a note pad for recording... Read More

Promotional Mugs: Become a Part of the Legendary Coffee Experience

When you want someone to like you, associate yourself with... Read More

Effective Marketing for Small Businesses

Effective marketing for the small business begins with market researchIf... Read More