Business: Definition and Functions of Marketing Mix
Business: Definition and Functions of Marketing Mix

Business- The marketing mix is ​​a term that is closely related to business and marketing issues. Product identification, price, place, and other marketing elements are discussed in this theory which is also known as the marketing mix.

For those of you who deal with business and marketing every day, understanding the concept of this mix will help increase the effectiveness of the marketing process carried out. What is a complete description of the marketing mix? What are the models and elements? Read more in the following Populix review.

What is Marketing Mix?

The marketing mix is ​​a concept in the world of marketing which consists of various elements in it. This theory use as a company strategy to determine whether the elements in the mix are appropriate to maximize sales value. Visit this site to looking for information about home construction https://ecoceco.com

Understanding Marketing Mix According to Experts

Economists and marketing experts have presented several definitions of the concept of the marketing mix. The following is an explanation of a number of definitions of the marketing mix by experts.

According to Kotler Armstrong (1997), the notion of marketing mix is ​​a tactical marketing tool and can be controlled by the company. The elements in it include the 4Ps, namely product, price, place of distribution, and promotion which are then combined by the company to achieve the desired target market.

Soemarni and Soeprihanto (2010), marketing mix is ​​a combination of the core variables of the marketing system consisting of product, price, promotion, and distribution by the company in order to influence consumer responses.

Buchari Alma (2005), marketing mix is ​​a strategy in combining various marketing activities in order to maximize acceptable results.

Marketing Mix Function

This marketing mix strategy will provide several advantages for companies that implement it. So, some of the functions of the marketing mix are:

1. Intermediary function

The first function of the marketing mix is ​​the intermediary function. This mixed marketing strategy serves as an intermediary between the company and the customer. Then, they relate to each other through a series of activities ranging from promotions to transactions.

2. Exchange function

The next function of the marketing mix is ​​the exchange function. With regard to the intermediation function, companies that enter into transaction activities will bind customers. So, By doing marketing, customers can buy the products that the company offers.

In these activities there is an automatic exchange. The customer side trades their time, effort, and money for the product they need.

3. Physical distribution function

Through the production and transactions carried out, there must be a physical distribution that occurs. Generally this process is related to the delivery of products to customers. In addition, this function is also related to the process of providing stock by the company.

Read More: https://www.festivaldelladriatico.com/