Session 7: Developing a marketing mix | A Marketing Podcast

Session 7: Developing a marketing mix

In session 7 of A Marketing Podcast I discuss the development of a marketing mix as part of your marketing strategy. The marketing mix is the biggest and most complex part of your strategy. In this session I break down the development into three simple steps and identify some things to keep in mind as you validate your mix.

Session 7: Show Notes

Recap of Previous Sessions (related to strategy development):

What is a marketing mix?

  • Some marketers associate, or even assimilate, the 4 p’s of marketing to the marketing mix
    • Quick overview on the 4 P’s – thanks to E J McCarthy in 1960.
      • Product/Service
      • Place
      • Price
      • Promotion
  • At AMP I refer to the marketing mix as the group of tactics you plan to use to execute your marketing strategy

Goals for your marketing mix

  • By defining a set of tactics it allows you to focus on tactics that are determined to be highly likely to succeed, and avoid others along the way
  • It’s not to shut down the potential of doing other tactics, we’ll talk about adjusting as we go in the session about executing your strategy
  • To provide yet another guideline for your marketing – it’s another piece of the road-map

Things to consider when developing your marketing mix

  • Now is a good point in the development of your marketing strategy to get help from a professional marketer if you feel you need some help
  • The marketing mix, although it will guide us, is not set in stone. We still need to be realistic and somewhat agile in regards to the tactics we use
  • Forget about budget – we’re not there yet – plus it kills your brainstorming

Developing your mix

Step 1 – Brainstorm

List out all the tactics you can think of:

  • Tactics you think will work
  • Tactics you’ve tried in the past
  • Tactics you’ve seen others try
  • Tactics that are popular at the time
  • Online and offline

In the template I have outlined some basic tactical groups to get you started, those are:

  • Advertising (TV, radio, magazine, newspaper, SEM, display network, video on sites like Youtube, sponsorship’s of events, etc)
  • Content Marketing
  • Inbound Marketing
  • Social Media
  • Presentations
  • Public speaking, conferences, trade-shows, webinars, etc)
  • Events
  • Print Media (direct mail, coupons, pamphlets, newspaper, magazines etc)
  • PR
  • Email Marketing & Communications
  • Experiential marketing
  • And so on

Again this is a good step to get a marketing professional involved. This is where they will provide a ton of value from a tactical idea point of view.

Step 2 – Order by effectiveness

Reorder your tactics in order of effectiveness using the following criteria:

  • Refer to our goals and objectives
  • Refer to our audiences

Step 3 – Validation

The following list of items must be checked off for each of the tactics you’ve developed in the previous steps.

Ideally, a tactic will check off all 6 check marks – if it does that would demonstrate that that particular tactic will deliver the highest possible chance of success.

The six checklist questions:

  • Will this tactic fulfill one or more of my objectives
  • Does this tactic allow us to talk to one or more of our target audiences in their native tongue
  • Does this tactic play to our strengths
  • Does this tactic align with an opportunity we have identified
  • Does it not only avoid our weaknesses and threats but offset them in some way or solve them
  • Can we make use of our USP within this tactic

A couple more things to keep in mind

When creating tactics keep in mind how each tactic may integrate with another. It’s easy to validate a tactic one by one, but they will likely integrate with each other at some point. So keep that in mind.

You may need to do some research to help you during the validation of a tactic. Things like the audience statistics, who can be reached through a tactic, etc.

Do the strategy work up to this point – it will directly effect the quality of your marketing mix!

A sneak intro into the course I’m developing!

I give a small insight into a marketing strategy development online course that I’m developing to help you walk through and develop a comprehensive marketing strategy for your small business.

This course will be super valuable especially related to the marketing mix development section of your strategy. There will be tons of industry specific examples and insights to help you pick and validate the best tactics available.

If you want to stay up to date on the progress of that course, as well as get other goodies and community only stuff. Join the AMP Community

Links & Resources:

Thanks for listening in!

If you have any questions about this session, leave them in the comments section below. If you enjoyed the show, let your friends know by using the social sharing buttons below. Your help sharing the podcast will allow me to help more business owners and marketers just like you be more strategic!

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  • Cheryl

    Hi Matt,
    How do I identify tactics that best reach my target audiences? I know my younger target group are on social media but what about my stay-at-home Moms? Would that be daytime TV?

    • It’s a good question Cheryl, and a reason why I’d get a marketer involved. They will have some background, and hopefully some data, to help you answer that question. Your other option is to lean on google, and you can come at it from the tactic side or the target side when searching. Meaning search for “best way to target stay at home moms”, or the inverse which would be “using Facebook to target stay at home moms”. The second assumes you have some tactical/channel knowledge. I actually did the first search and there’s some great articles. This all refers to the certain level of research that you’ll have to do when developing your marketing mix. This is definitely the hard part of your strategy!