The Marketing Mix

The Marketing mix turns strategy into action. The Marketing Mix is a collection of answers to questions such as: who is the customer, what are their product requirements, what is our product offering, how do we position it to them, who is involved in the customer's decision to purchase, and how does the purchase process actually take place. These must be correctly answered to successfully sell and support a product. Lastly, stepping back, what are the key factors for success.

ADhawk Corporation
Example use of the Marketing Mix Concepts

I) Market Selection (choosing the target customers)

ADhawk’s customers are individual and business advertisers.

II) Product Planning (what product is the company going to sell to the selected customers) :

ADhawk Corporation provides a multi-category general purpose on-line classified advertising service. The company publishes ads from multiple sources including: Internet direct, On-line Services, newspapers, specialty publications, and competing on-line classified services. The ADhawk service enables readers to easily and efficiently search a vast classified ad database. The search can be based on geography or a specific criteria. Inquiries and responses are sent immediately via e-mail, fax, or voice. Readers also have single click access to related valuable information and advice forums staffed by recognized experts. Readers are also provided with comprehensive directories of all Internet classified sites. Advertisers have access to ADhawk authoring tools ranging from simple easy to use templates to sophisticated multi-media display capability.

III) Pricing (a quantitative expression of the value of the product to the customer) :

ADhawk delivers access to the largest readership world wide at costs two orders of magnitude lower than print. 1Kbytes of data (100 words) is priced at $2.00 per week. The economics, individual empowerment, and compelling functionality of on-line classified advertising will define a new advertiser value point.

IV) Distribution System (the wholesale and retail channels through which the product moves to the people who ultimately buy it and use it):

Internet, On-line services. partnering with Print Media companies

V) Marketing Communications:

Decision making Unit

The decision making unit consists of all the people who play a role in the decision to purchase a product. The marketing mix program must understand the needs of each and find a way to communicate the marketing message to them. For the ADhawk example these might be:

Advertiser

Advertiser, agency, on-line service provider, print media company

Readers, site reviewers, directory services, browser companies, media

Advertiser, agency, readers

Decision making Process for ADhawk

The decision making process(DMP) is a description of how the people included in the decision making unit interact to make the purchasing decision. By understanding it a salesperson can best understand who, how, and when to work on getting the customer order.

An On-line service subscriber who wishes to advertise may simply select their on-line service provider's classified section. Or if they’ve heard about ADhawk or some other area they may go there. They will probably browse for a while then if still interested proceed further and consider placing an ad.