The marketing mix is a system of interconnected elements used to bring products or services to the market and effectively communicate them to the target audience. This concept is often equated with the four Ps of marketing. However, there are also other popular marketing mix models.
You can create your custom marketing mix from scratch. But to build a sustainable business, you probably shouldn’t be reinventing the wheel in this area.
In this article, we’re going to cover the following:
Why is the marketing mix important?
Types of marketing mixes
Five tips on using the marketing mix
Why is the marketing mix important?
Marketing a product or service can become overwhelming quite fast. There are just so many things to think about and no clear place to start.
But marketing mix models put things in the right order. They provide a sort of template that helps to zero in on things that really matter and lay the foundations for a successful marketing strategy.
Types of marketing mixes
The marketing mix and the four Ps of marketing are often used interchangeably. We need to start by noting this is not accurate. The four Ps of marketing are just a type of marketing mix (historically, it’s probably the oldest).
So without further ado, here are the key types of marketing mixes with some examples.
The four Ps of marketing
The four Ps of marketing is a marketing mix model proposed by Jerome McCarthy in 1960. The four components of the model are:
Product – What you sell.
Price – How much you sell it for.
Place – Where you sell it.
Promotion – How you get customers.
Let’s look at how this works in practice for a SaaS product like Ahrefs:
Element Explanation Example
Product The product or service you offer to the consumer. This category can mean anything a business offers to its clients (including ideas or experiences). Ahrefs: an all-in-one SEO toolset.
Price The cost your clients pay for a product or service. Subscription-based, four tiers, starting from $99 (or $83 if paid annually).
Place Where and how your customers can buy your product/service. Digital, direct distribution (SaaS).
Promotion The marketing tactics and channels you use to reach your target audience. Content marketing (main marketing tactic) and word of mouth.
Recommended reading: How to Implement the 4 Ps of Marketing
The seven Ps and eight Ps of marketing
The seven Ps of marketing is a marketing mix model designed especially for service marketing and was proposed by Bernard Booms and Mary Bitner in 1981. The seven components of the model are:
Product – What you sell.
Price – How much you sell it for.
Place – Where you sell it.
Promotion – How you get customers.
People – Who is involved in delivering your product.
Process – Procedures of delivering the product.
Physical evidence – Tangible elements of your service the customers will interact with.
In later years, the model was expanded by some marketing theorists. This resulted in the eighth P: performance, i.e., how you will measure your success.
Since the seven Ps and eight Ps of marketing are models designed for services, let’s see how a service like Uber can use this marketing mix to bring its brand to the market:
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Element Explanation Example
Product The service you offer to the consumer. Uber: ride-hailing, food delivery, and freight.
Price The cost your clients pay for the service. -Rides: based on time and distance. Additional options for more comfort and riding with pets.
-Delivery: service fee (typically around 15%, min. $3) and delivery fee (ranges from $0.49 to $7.99). Optional priority delivery.
-Freight: based on data points like distance, day of the week, time of the day, weather, etc. Additional costs apply, e.g., layover, driver assist.
Place Where and how your customers can purchase your service. Mainly through mobile apps; optionally through the website.
Promotion The marketing tactics and channels you use to reach your target audience. PR, referral programs, and advertising.
People People involved in delivering your product (including support). Service is largely automated. But people are critical to the attractiveness of the services, i.e., drivers (driving experience, communication skills, etc.). Uber offers extensive online training and has experimented with performance review methods.
Process The procedures by which the service is delivered. Self-service through apps and cashless payments. The algorithms process data and make this available to both parties (suppliers and clients).
Physical evidence Tangible elements of the offer. UX design of the apps, driver experience, the comfort of the cars, and signage of the cars.
Performance (P-8) Success metrics. Some examples: app downloads, ride/delivery requests and cancellations, customer ratings, driver supply, and revenue.