Marketing Mix Guiding Questions

Marketing Mix - Guiding questions to help Marketers plan marketing activities

Many frameworks exist to guide marketers to the major marketing activities including the 4P’s (product, price, place and promotion), 5P’s (people, product, price, place and promotion), 7P’s (process, physical evidence, promotion, price, product and place) and others, which are argued to inadequately summarise the functions undertaken by marketers.

There is however a set of guiding questions which refer to the eight decisions marketers face. It is without doubt the most important step in framing problems by asking the right questions.

The guiding questions below incorporate elements not central to frameworks such as the 4P’s, 5P’s and 7P’s by proposing that the fundamentals of market research such as competitive intelligence, sales forecasting and market analysis and decision support systems must be integrated.

Guiding questions are as follows;

1. What makes consumers consummate an exchange with your organisation?

2. How can your organisation translate consumer needs and preferences into a product (I.E. good, service idea mix) that consumers will acquire willingly and use beneficially?

3. How can your organisation inform all stakeholders – especially target customers – about your products and other activities?

4. How can your organisation deliver its product, service or idea to consumers?

5. What are the rights and obligations of all stakeholders in your organisations activities?

6. What is the history of your organisation and its products?

7. What are your organisations culture, vision and mission statements?

8. What marketing strategy should be followed?

Remember, marketing is about the customer; understanding of what customers want and need and providing a solution which satisfies that need.