Basically the marketing mix is a combination of product, price, promotion, and place aka. distribution which meets the needs of targeted customers. Hence the marketing mix is also known as the 4P’s.

An easy way to remember the marketing mix is “with the right product, at the right price, using the right promotion, in the right place”

So why does this really fit into online business? Well in my opinion its the most important strategy you can use when marketing as the marketing mix is a vital tool!

Product - This is the actual item your selling (even if you only have ads on your site your still trying to get users to come to your site and the more you get the higher % someone will click on your ad making you money) . You need to see if your “selling” to the mass market or the niche market (ill discuss these in a later blog post). Why? Well if its to the mass market you know your going to be able to advertise your product/website basically anywhere and everywhere.

Price – Only really useful if your selling an actual product or selling ads yourself or via adbrite etc. Remember determined by a number of factors including market share, competition, material costs, product identity and the customer’s perceived value of the product. Otherwise this is an external factor which is only via the advertisers bidding between each other i.e on programmes such as Adsung or Adwords.

Place – Basically how your selling your product. If this is your site, make sure its packed full of content or if its a product make sure its available in numerous places i.e using affiliate programmes such as CJ or Clickbank or even making your own.

Promotion – How people become aware of your product. This is derived from the previous P’s so once you have them you’ll know what and where you need to advertise to allow you to arrange your marketing campaign (ill discuss marketing campaigns in a later blog post) if your targeting a niche or any/every site.

Once your using this simple system then you will soon realise that making your product and getting it going is much easier and simpler then you ever imagined using a simple process and one of the most known things the “marketing mix” applied to online business.

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