Marketing Mix

What is a Marketing Mix A Marketing Mix is just a business tool that traditionally takes into account the 4 Ps of Marketing (Price, Product, Place and Promotion) so that you have a product that people want, in a place they can access it, at a price they think is good value and a time they want to buy it. Those of you who have been paying attention will know by now that my belief is there are 8ps of marketing and rather than go into them here you can read about the 8ps of marketing in your marketing mix here. In the marketing world – which has changed quite dramatically over the years since it was first coined, the marketing mix is as important today as it was in 1950 when the idea was first conceived (or at least put into a book) by a chap by the name of E Jerome McCarthy. Naturally there are people who have a different view and say the marketing mix should consider the 4C’s Customer cost i.e. Customers want to know the total cost of acquiring, using and disposing of a product, not just the price Customer solutions i.e Customers want to buy value or a solution to their problems, they dont buy products Convenience, i.e Customers want products and services to be as convenient to purchase as possible, they are not concerned with place Communication i.e Customers want two-way communication with the company that makes the product, rather than promotion of the product These ideas can be considered one at a time Customer cost vs Price? I would argue this...

Mobile Marketing

Mobile Marketing & Dinner Parties At a dinner party for an overseas visitor during the week it was interesting to see that 6 out of the 8 people present referred to their mobile device throughout the dinner, despite the fact the guest of honour from the UK had spent 36 hours travelling the¬†18500 kilometres to meet up with other people present.¬†Ignoring the etiquette issues that using a phone during a dinner party raises, it did get me thinking about mobile marketing. At the risk of stating the obvious, mobile marketing is marketing to people using their mobile device, there are a wide variety of mobile devices interestingly (or not) Facebook report that their system is accessed by 7000 different types of mobile device each day. In New Zealand there are around 2,500,000 adults using their smartphone each day (at least 6 of them during dinner parties) and this expected to keep growing over the next year. Smartphone usage, as might be expected, is is highest amongst the 18 to 24 age group and lowest amongst the over 65’s where ownership is around 45%. It is reported that 100% of people with incomes over $150,000 per year have a smart phone (although there is bound to be an exception somewhere) Many Smartphone owners will also have some other form of mobile device as well such as an I pad or a tablet. The number of people who use their smartphones or other mobile device to access the internet also continues to rise. Mobile digital engagement from Mobile devices is now 51% whilst the traditional desktop engagement is down to 42%...