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ADDITIONAL ELEMENTS OF MARKETING MIX - THE CONCEPTS OF 8P, 12P


DEVELOPMENT OF CLASSIC 4P MARKETING MIX CONCEPT

In the previous articles, we discussed the classic concept of the marketing mix 4P and identified the factors that influence the evolution of the marketing mix. In fact, we came to the conclusion that the 4P concept has not lost its relevance and is the basis of any marketing plan, but each element must meet the following criteria: positive impressions from interaction, accessibility and interactivity, individualization of product offerings and actions, personalization of relationships.

However, modern marketers are increasingly inclined to expand the list of marketing mix elements and involve those aspects of enterprise activity that are considered significant for the success of the marketing mix. It should be noted that depending on the company the set of elements may vary significantly depending on objectives, goals, competitive situation, etc.

Most often, the following additional elements are used in marketing mixes:


PEOPLE

People who represent the company and influence its image and, accordingly, the brand equity are divided into the following groups:

• Key employees and owners who are the face of the company;

• Company employees who have contact with customers;

• Back-office employees who do not have contact with customers;

• Celebrities and opinion leaders involved in marketing programs;

• Company customers who have given consent and are involved in marketing programs.

For key employees and owners of large companies, an appropriate image is chosen, and PR specialists and image-makers work with them constantly. Each public activity or statement is to be approved by the specialists in the marketing department and is part of the company's marketing strategy.

For company employees who have contact with customers, a code of conduct, emotions, job instructions, and interaction scenarios are developed, which should work to improve the brand's image and create positive impressions. The possibility of damaging the brand image is reduced, and a loyal audience is formed as a result of such activities.

To employees of the back office who do not have contact with clients, it is necessary to explain the company's positioning and values and to create conditions and motivation to ensure the proper perception of the company and the dissemination of its image among friends and acquaintances.

Celebrities, opinion leaders, and company clients involved in marketing programs work directly with the marketing department to convey the necessary positioning and dissemination among consumers.


PARTNERS

In a broad sense, the following categories of organizations are understood as partners:

• Companies involved in the same chain of production and sales of product;

• Profitable organizations and companies with which advertising and other marketing relations are maintained;

• Non-profit organizations with which sponsorship or PR relations are maintained.

An important thesis for understanding is that as a result of any public partnership, the parties transfer a part of each other's image from one partner to another. Accordingly, it is very important to choose partners in such a way as not to harm one's own positioning, but, on the contrary, to strengthen it with the partner's image and expand stable and attractive associations in the consumer's consciousness regarding own brand.


PROCESSES

Processes that play an extremely important role and are often considered by consumers as part of the product quality:

• Ability to test and to try on the product;

• Availability of all options, sizes, and models;

• Ease of receiving consultations and recommendations;

• Ease, speed, and quality of ordering products;

• Speed of receiving the order;

• Speed of returning or changing the product;

• Speed and quality of service support.

In modern business, all processes related to interaction with consumers are planned not only by the operational department but also by the marketing department. A significant part of the brand image is formed not only by the product but also by the ecosystem and processes around it.


PERFORMANCE

Competitive environment and rapid market changes have forced companies to include a monitoring system for the performance of their marketing mix as a mandatory element. Small businesses may monitor only the prices and product range of their competitors, while large companies have dedicated marketing analytics departments that purchase quantitative and qualitative market and consumer research from major international research companies. In any case, in modern reality, a company must create a system of KPIs that signals changes in the market and the successful or unsuccessful application of brand promotion tools.

To sum up, we believe that the classical 4Ps and additional 4Ps mentioned above are the optimal set for implementing a modern marketing mix for a company, although each company decides which elements of the marketing mix to choose and use in planning. We note that in addition to the 8Ps proposed by us, marketers may use the following components - Physical Evidence, Presentation, Persona, Purpose, Payment, Principles, Promise. In our opinion, this is already excessive and duplicates many aspects of positioning, which is a separate task from the marketing mix. When we are asked which of the directions of the marketing mix is the main one, then, in our opinion, the main attention should be paid to the Promotion element, which is extremely difficult to plan from the point of view of integration of marketing communications into a single effective holistic system.

Achieving the commercial objectives of a company through effective marketing requires a deep understanding of the market situation, consumer needs, the ability to analyze and explore alternatives, and a creative approach to problem-solving. Our company has extensive experience in defining optimal marketing strategies for our clients' businesses, creating a strong brand and market positioning, as well as developing a marketing mix and implementing the chosen strategy. You can familiarize yourself with the services and solutions our company offers on the "Services" and "Solutions" pages, respectively.