Example of a Marketing Mix

(Marketing Mix Models Help You Build Your Plan)

Marketing mix is key to your marketing plan. Use this example of a marketing mix and marketing mix models (such as a permission-based email marketing sample) to understand the most important elements of the marketing mix and to develop strategies for your business.

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Marketing mix is the balancing and managing of product, price, promotion and distribution or place decisions and strategies.

Develop your marketing plan with an understanding that the mix is a key element of your plan; developing a successful marketing mix is necessary to your small business growth and success.

It is important to recognize that marketing is not an exact science. It is as much art, as science. Each business will have different needs and different targets. This example is to provide you with an overview of how marketing mix fits into your marketing plan and how to build your own marketing mix program.

Use Marketing Mix Models - Example of a Marketing Mix:

Company Profile: Law firm; $5 million in annual sales; business to business services company.

Law Firm Marketing Plan: focused on gaining new business (small business owners) while retaining existing clients.

Sales Plan: Business-to-business sales growth of 10% in year 1 of a 3 year plan

Elements of the Marketing Mix:

• Define the Service(s): a services features list

• Management legal services
• Employment problem prevention
• Wrongful dismissal
• Severance proposals/packages
• Management and union relations and negotiation
• Human rights
• Workers safety, health, environment, and more

• Define the Service(s): a benefits list

• High success rate in management-union negotiations
• Excellent reputation
• Timeliness: quick action and available outside of the regular hours
• Practical and cost effective advice
• Lean firm structure – easy and direct access your lawyer
• Strong understanding of business environment
• Comprehensive database to research similar cases
• Answers to your questions: solutions to your problems

• Unique Advantages:

• Skills of highly trained and experienced staff
• Reputation as a highly successful negotiations firm
• Focus on industry-specific planning and implementation
• Focus on business to business environments

• Price:

• Focus on bundle pricing strategies: for example - monthly retainer; annual retainer; all services bundled for a set rate; certain services bundled together for better pricing – e.g. employee problem prevention, wrongful dismissal and severance proposals/packages.
• Prices/billings compared and analyzed annually against top three competitors
• Costs analyzed monthly – cost containment and reduction a key strategy for competitive pricing

• Promotion:

• Advertising programs: local newspapers, local radio, local magazines, business trade journals
• Personal selling: Sales and Marketing staff; face-to-face
• Direct marketing campaigns to targeted and existing clients; including permission-based email marketing
• Educational programs to existing clients and delivered to new clients
• Participation in business and trade associations: networking with clients
• Website: search engine optimized
• Newsletter: hot topics
• Local radio: weekly legal talk show (15 to 30 minutes)

• Place or Distribution:

• Direct sales to business clients (this is also an advantage – you are close to your customers and will better understand their changing needs) – keep in regular contact (don’t wait for them to call you).
• Selling via ecommerce through the company website; e.g. forms and counselling, etc.
• Another advantage of direct sales is that you control your pricing, although the market will dictate what it pays. Services are considered value added (for example,a value add is 24 hours a day call-in service).

Use this example of a marketing mix to build your own plan. Marketing mix models are extremely useful in building your marketing plan and actions; your business plan and actions; and strategy plan and actions.

You need to develop your marketing plan with strong and effective marketing mix strategies; yes, it is a challenge but it is also core to your overall small business strategy and business plan.

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