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There are four main elements to consider when creating an effective marketing mix — Five, if you’ll take my recommendations that may seem a bit unorthodox to the typical marketer — we’ll get to that later.
These elements are product, price, promotion, and place — Desire being the fifth element that we’ll dive into last. Keep reading to learn more about how each of these elements works and why they are important.
The first element of the marketing mix is the product. This refers to the physical product or service that you are offering. When thinking about your product, you will want to consider features, benefits, and brand image. It is important to offer a product that is high quality and meets the needs of your target market.
The second element of the marketing mix is price. The price of your product or service will be determined by a number of factors such as production costs, competitor prices, and perceived value. It is important to strike a balance between making a profit and making your product affordable for your target market.
The third element of the marketing mix is promotion. This refers to the various marketing activities that you will use to communicate your product or service to your target market. Some common promotional activities include advertising, public relations, and social media marketing. It is important to carefully select the promotional activities that will reach your target market most effectively.
The fourth and final element of the marketing mix is place. This refers to the channels through which you will sell your product or service. Some common channels include brick-and-mortar stores, online stores, and distributors. It is important to select channels that are convenient for your target market and that allow you to reach them most effectively.
All four elements of the marketing mix are important to consider when launching a new product or service.
Now — Let’s tackle Desire.
In all transparency, this should have been the absolute first step in the marketing mix, given the fact that all of these hinge on what is driving the customer to purchase or utilize your services to begin with. Without understanding the consumer psychology behind why someone may see the intrinsic value of paying a certain price — you don’t know whether or not the price is competitive, or in demand.
In order to understand how to communicate with the consumer — You need to understand how and why your ideal client communicates the way they do. What kind of message are they currently being served by your competition? How are you standing apart as the right company when you don’t know what is resonating with your client base?
Last but not least — How do you know where your ideal customer is, if you don’t understand where they’re spending the majority of their time?
A desire-based marketing strategy is one in which you seek to understand what your customers desire, and then craft your marketing message and materials around that desire. This approach can be very effective since it allows you to connect with your customers on a deeper level and tap into their motivations for making a purchase.
By understanding what they desire, you can create a more targeted and effective marketing campaign that resonates with them on a personal level. Additionally, this approach can also help you to better understand your customer base as a whole and identify trends in their purchasing behavior. Ultimately, using a desire-based marketing strategy is an essential way to connect with your customers and better understand their needs.