What is the ‘right marketing mix’? There really is no one mix that works for every company and every product. The important point is to actually have a ‘mix’. No matter what product you sell, your customers are not going to find you through only one method. The first step in finding the right mix for you is to list all the potential options. These might include advertising (direct mail, newspapers, magazines, television, radio, billboards, internet, etc.) trade shows (local, international, industry specific, etc.) sponsorships (sport events, trade events, fairs, etc.), website (search engine optimization, links, blogs, twitter, facebook, etc.), newsletter (direct mail, on-line), videos (You Tube, website links, CDs, DVDs), public relations (speaking engagements, press releases, charity work, whitepapers, etc.) networking (joining industry organizations), partnering (alliances, joint ventures, etc.).
Once you have listed all the potential marketing methods go through the list and cross off any that are inappropriate for your product/industry. Next go back over the list and give a point value to the items that are left. The more they work for your product/industry the higher the point value. Now re-arrange the list with the highest points on top. You now have a list of the marketing mix that works best for your company and the point values will assist you in distributing your marketing budget accordingly.
The author, Marge Bonura, is the Director of Sales & Marketing for New England Machinery, Inc. (NEM). NEM is a leading manufacturer of bottle unscramblers, cappers, orienters, retorquers, lidders, pluggers, pump sorter/placers, scoop feeders, hopper elevators and much more. The company has been in business since 1974 selling to the food, beverage, pharmaceutical, personal care, chemical, household products, automotive and other industries. For more information on NEM, visit their website at www.neminc.com.
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