How marketing mix analysis updates the 4 P’s for the modern world. “Making your numbers” used to be a once-a-year thing at review time. These days, it’s not even quarterly. Marketing Managers are expected to review, analyse, and make decisions on an ongoing schedule... in real time. Because in today’s world of Marketing Operations - where marketers and technologists work side-by-side - that’s what your competitors are doing. But scratch the surface of those competitors, and you’ll find many of them are running with the 4 P’s of the classic marketing mix - Product, Price, Place, and Promotion - with the same approach as ever. And that’s an opportunity for you. Because operations-driven marketers (and marketing-aware operations) use marketing mix analysis to learn how those classic ingredients need to change. Here are some of their thoughts, in this handy infographic.

1. RE-THINKING
YOUR
MARKETING
MIX FOR
CAMPAIGN
CREATION
EXCELLENCE
NOT
SEALED IN A BOX
AMAZON’S PROFIT-
MAXING, BUYER-
PROFILING CAUSED
OUTCRY
SAVVY MARKETERS
PITCH POST-
MARKET TO
ADDRESS BUYERS’
BLUES
NOT
NOTED ON A
CONTRACT
MILLIONS OUTSIDE
THE USA WATCH
NETFLIX USA
ILLEGALLY
SATISFACTION
SURVEYS LET
YOU SCORE YOUR
PERFORMANCE
THEY’RE THE SUM TOTAL OF YOUR
CUSTOMER’S INTERACTIONS WITH YOU.
(Including conversations across social media.)
Make sure your product strategy is in tune… not an annual
plan, but a flexible approach that lets you ACT FAST.
NOT
A ONE-TIME
PURCHASE.
PRICE COMPARISON
WEBSITES MAKE
DIFFERENCES PLAIN.
CRM GIVES YOU THE
MEANS TO KEEP
THE CONVERSATION
GOING.
Products and services today are:
RETHINKING
PRODUCT1
RETHINKING
PLACE2
RETHINKING
PRICE
RETHINKING
PROMOTION
THE GOOD BIT?
3
4
A PROSPECT
CONNECTS
WITH YOU ON
LINKEDIN
A SUPERFAN
RETWEETS
YOU TO
FRIENDS
YOUR EMAIL
NEWSLETTER
GETS
FORWARDED
… AND OTHER
POSITIVE
INTERACTIONS
HAPPEN.
A BUYING DECISION IS MADE
WHEREVER TRUST IS BUILT.
UP-SELL. CROSS-SELL. MEMBER-GET-MEMBER.
EACH IS DRIVEN BY DATA.
EACH OF THESE CHANGES IS A
MARKETING OPPORTUNITY.
The sale isn’t made on a dotted line. You make a “sale” when:
ONE PRICE FOR THE RICH, ONE
FOR THE POOR?
NOT IN THIS WORLD.
PROMOTION USED TO COME
BEFORE THE SALE.
HOW TIMES HAVE
CHANGED.
Get caught charging different prices to different customers and you’re OUT.
For your marketing mix analysis: ask customers when they first
felt “right” about you. It may be a surprise.
Check your pricing policy isn’t advertising your lack
of market awareness.
LEARN FROM
INSIGHTS IN
YOUR DATA
USE ANALYSIS…
USE RESULTS…
USE CHANGE
OVER TIME...
TO LEARN.
TO DECIDE.
TO PLAN
AHEAD.
MAKE DECISIONS
THAT ADD VALUE
IMPROVE
PROCESSES
BUSINESS-WIDE.
Use MARKETING MIX ANALYSIS on factors like these to:
TAKEAWAYS
THE 4 Ps ARE AS
RELEVANT AS
EVER, BUT IN A
DIFFERENT WAY.
MARKETING
MIX ANALYSIS:
PRODUCT, PLACE,
PRICE, AND PROMO
ARE EVOLVING.
HARD NUMBERS
FROM CRM ENABLE
HIGH-TOUCH
MARKETING MIX
ANALYSIS.
WWW.CRMTECHNOLOGIES.COM
Sources:
http://businesscasestudies.co.uk/business-theory/marketing/the-extended-marketing-mix-7ps.html#axzz3qWg9fq8d
http://www.mckinsey.com/insights/marketing_sales/how_digital_marketing_operations_can_transform_business