It is easy to find online startups that focus their resources and energies only on developing digital marketing strategies and plans. However, this way of proceeding is incomplete: digital marketing is only responsible for marketing in digital media.
Efficient marketing requires a broader, more overcoming vision: digital marketing strategies should be subordinated to business and marketing strategies. marketing mix.
To develop a traditional marketing plan, we recommend that you take into account the following aspects that make up a brand’s marketing mix.
Product
You have to define if you are going to adopt innovative, adaptive or anticipatory strategies.
- Innovative strategy: it will occur when you offer products that do not currently exist and that are presented as a replacement option for existing ones.
- Adaptive strategy: when you sell similar products than the market leader.
- Anticipatory strategy: when you anticipate trends and seek to attract the attention of the consumer through novelty.
In addition, it is necessary to determine the product levels: essential benefit, generic product, augmented, expected and potential.
The next step will be to define the product hierarchy: campaigns, categories, product lines and product variants. Many decisions will be made during the life of the brand that will have to do with the breadth, length and depth of the product mix, based on the performance and response of our target audience.
Price
A key aspect of your business: how much you charge for your products. Price is a complex variable to define, since it involves several issues:
- Constraints: costs, benefits, demand, competition and environment.
- Pricing objectives: for example, creating market barriers, reducing inventories, etc.
- Meaning for the consumer: some of the meanings can be exclusivity, suggest quality, etc.
- Price segmentation: some options are to segment by form of financing, by time of purchase or by product package.
- Product life cycle: the price will be different if the product is in introduction, growth, maturity or decline.
Promotion
There are different objectives in terms of promotion: that people try the product, get their email, increase the amount consumed and even increase . Within an online store, promotions can be segmented, for example, according to regular consumers, subscribers or sales forces and businesses.
The tools that allow us to implement the plans will be advertising, local sales, sales promotion, public relations and direct marketing.
Developing promotional campaigns also has some risks. For example, permanently reducing the perceived value of the product or subsidizing real users.
Distribution
It is necessary to consider the design of marketing channels based on:
- The needs of customers.
- The characteristics of the product.
- The objectives of the commercial strategy.
- The required performance levels.
To evaluate the different alternatives we will take into account an economic criterion, a control criterion and an integration criterion with our management system.
- The economic criterion refers to the price/quality ratio offered by the different suppliers.
- The control criterion has to do with the possibilities of reviewing each sequence of the process.
- The integration criteria is linked to the alternatives to integrate with your current processes and technologies.
Distribution is also concerned with the entire supply chain, including marketing strategies such as backward linkages and finding strategic partners.
Synthesis
In the case of brands that are already a few years old, the task will be to define and visualize these same concepts in the usual practices. It is good to clarify that These four perspectives offered by the marketing mix must be developed simultaneously and consistentlythat is, under a semantic coherence.
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