A good marketing mix combines certain elements of a marketing recipe in certain ratios to create a stunning end result. Placement, pricing, promotion, and the product itself must all be combined in a certain way to make sure the right message is communicated to each customer segment in a consistent manner. Here are some real-life examples that can be used to design your own unique approach.
1. Manchester City
This football [soccer] club has long been overshadowed by their rivals Manchester United. Manchester City wanted to become a global brand as their main competition, but the foothold in the global market for their sport was difficult to find. Manchester United had already dominated globally in merchandise sales, brand saturation, and even their own TV station.
This meant Manchester City had to do something different to establish their brand. What they decided to do was invest into a new football franchise in the United States with key partners. In 2015, their new club, New York City FC, will begin playing in Major League Soccer. The American team’s colors are similar to Manchester City’s. Exposure will be great because games will be played at Yankee Stadium. The partnership allows the clubs to swap players to create better results. To further establish the brand, Manchester City and NYCFC invested into two big names in European football, Frank Lampard and David Villa, to create excitement.
The end result? Tickets are being sold, jerseys are being sold, and Manchester City is getting global press in a different way than the competition, which is driving up revenues.
Carbonated soft drink sales have been declining for nearly two decades. More than 60% of Americans today are saying that they will actively attempt to avoid drinking soda whenever possible. This doesn’t fare well for carbonated drink giant Coca-Cola. Yet with a good marketing mix, they were able to see a 1% increase in sales of soft drinks in 2014. How did that happen?
They switched up how people perceived the product. Instead of it being an “unhealthy drink,” Coca-Cola started to market 8 ounce cans so that people would see the soda as a “treat” instead. A social component was also added by printing the names of people on Coke bottle labels so that “my own Coke” could be consumed. Add in the thousands of other brand names and this company continues to dominate in the world today.
3. Southwest Airlines
When all of the other major airlines are struggling to make ends meet and have tickets purchased, Southwest Airlines continues to march on strong. How is this major carrier able to compete when so many others are not? It is through their marketing mix of cheaper fares, reduced add-on fees, and value travel.
You won’t find a lot of the same frills at Southwest as you will at other carriers. You’ll just have people flying on a plane to get to their destination and feeling good about it because they saved some money. Sometimes only one change, in this case the perception of value, needs to occur for business to stay strong.
How people are able to access products or services matters. The customer service experience that is received also matters. For more than a decade, eBay has been working to evolve the customer satisfaction process by allowing for greater security with purchases. The inclusion of Paypal was one step. Having seller verifications and ratings was another step.
Yet having a good sales experience is nothing if there isn’t a solid distribution channel. At eBay, there are several methods that can be selected so that shipping can be done based on what the customer wants instead of what the seller wants. Mobile and desktop platforms allow for access to products whenever it is wanted. The end result creates highly satisfied customers through an effective marketing mix.
Sometimes a 5th “P” needs to be added to the marketing mix: people. Amazon learned that early on and has been emphasizing the quality of the people in their customer service department. When errors are encountered with the purchasing process, Amazon’s people strive to make things right. There are times when hundreds of dollars worth of products that have been incorrectly shipped to someone are just given away. This creates loyalty through relationship building and ultimately more sales.
These marketing mix examples are just a few ways that companies today are taking their message to their specific customer segments more effectively. Take these examples and incorporate them into your own ideas to share your message today.