Chapter 3: Marketing Mix
Now that we have a structure ready, we move to the next step. Getting the marketing mix sorted. If you are wondering what a marketing mix is:
It is the set of models and metrics that a firm adopts to reach out to the target market.
To develop the optimal structure, we encourage you to follow the UTSARG’s MARKETING MIX MATRIX- a modified 7 P structure specially developed and rigorously tested by the researchers at UTSARG for International Trade:
Utsarg’s Marketing Mix Matrix
Product- Whether what my market wants is what I export.
Place- Whether my market can easily find my product.
Price- Whether my market finds my prices reasonable to buy my product.
Promotion- Whether my market knows about my product.
People- Whether my employed associates are working to their full capacity
Process- Whether my products are efficiently and quickly reaching my customers.
Physical Evidence– Whether my firm has a presence (both on the internet and in physical form)
Cross Culture Understanding- Whether I understand the differences in the culture of my market.
Regional Understanding– To understand customer feedback and sentiments.
Cross- Border Understanding– To make sure my products can easily cross the borders without hindrance.