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How do you create new marketing mix ideas?

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The marketing mix is the set of controllable variables that a marketer can use to influence the target market's response to a product or service. It usually consists of four elements: product, price, place and promotion. However, in today's dynamic and competitive environment, marketers need to constantly generate new marketing mix ideas to differentiate themselves from the competition and meet the changing needs and preferences of the customers. How do you create new marketing mix ideas? Here are some tips to help you.

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Viona Wairimu Kimemia

PR & Communication | Digital Marketing | Strategic Planning | Entrepreneurial Leadership

1 Analyze your current marketing mix

The first step is to evaluate your current marketing mix and identify its strengths and weaknesses. You can use tools such as SWOT analysis, customer feedback, market research, competitor analysis, and performance metrics to assess how well your marketing mix is aligned with your goals, value proposition, and customer segments. You should also look for any gaps, opportunities, threats, or challenges that your marketing mix faces in the market.

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Viona Wairimu Kimemia

PR & Communication | Digital Marketing | Strategic Planning | Entrepreneurial Leadership
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One thing I have found helpful is involving the entire team. You might end up having a one-sided analysis especially if you are a manager and are not always in direct contact with the clients. The "Iceberg of ignorance" states that staff will see 100% of the problems. Team leaders see 74%, Team managers 9%, and Executives 4%. If you fail for example to take a problem-solving approach starting with the staff, your marketing mix will be greatly flawed, and in the long run not give desired results.

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2 Brainstorm new marketing mix ideas

The next step is to generate as many new marketing mix ideas as possible, without judging or filtering them. You can use techniques such as brainstorming, mind mapping, SCAMPER, blue ocean strategy, and design thinking to stimulate your creativity and explore different possibilities. You can also involve your team, customers, partners, and experts in the ideation process to get diverse perspectives and insights. The goal is to come up with a list of potential marketing mix ideas that address the issues and opportunities you identified in the previous step.

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Viona Wairimu Kimemia

PR & Communication | Digital Marketing | Strategic Planning | Entrepreneurial Leadership
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Exactly! Don't be afraid to think outside of the box. Every idea ?? is useful. In my experience, get all the ideas and then segment them based on your team's agreed parameters e.g. timing, resources for implementation, target audience, budget, and success rate. Some ideas can be shelved for later and you can have some on the implementation chain to be done after certain milestones have been accomplished.

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3 Evaluate and prioritize your marketing mix ideas

The third step is to evaluate and prioritize your marketing mix ideas based on their feasibility, desirability, and viability. You can use tools such as the marketing mix matrix, the value proposition canvas, the lean canvas, and the business model canvas to map out and compare your marketing mix ideas in terms of their benefits, costs, risks, and assumptions. You should also test your marketing mix ideas with your target customers and stakeholders to get their feedback and validate your assumptions. The goal is to select the most promising marketing mix ideas that offer the most value to your customers and your business.

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4 Implement and monitor your marketing mix ideas

The final step is to implement and monitor your marketing mix ideas in the market. You can use tools such as the marketing plan, the action plan, the budget plan, and the control plan to define and execute your marketing mix strategies and tactics. You should also use tools such as the dashboard, the scorecard, the feedback loop, and the analytics to measure and track your marketing mix performance and outcomes. The goal is to optimize and adjust your marketing mix ideas based on the results and the changing market conditions.

Creating new marketing mix ideas is a continuous and iterative process that requires creativity, analysis, experimentation, and adaptation. By following these steps, you can generate new marketing mix ideas that will help you stand out from the competition and delight your customers.

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Viona Wairimu Kimemia

PR & Communication | Digital Marketing | Strategic Planning | Entrepreneurial Leadership
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Consider taking your team through the implementation plan and make sure you are all on the same page. Be flexible enough to review feedback and analytics to know when something is not working, so that you can recall and re-strategize. Timeliness is very key, and forecasting based on feedback and target audience behavior.

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5 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?

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Viona Wairimu Kimemia

PR & Communication | Digital Marketing | Strategic Planning | Entrepreneurial Leadership
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Some of the tips I hold dear include; Be customer-centric. Can you put yourself in their ??? What will make their lives/ experience better? Be creative & innovative. The most successful campaigns are often the most original and unexpected. Be data-driven. Don't be tempted to make decisions based on your feelings. Let data and analytics inform your decision-making process. Your ideas might be cool, but data & analytics beats coolness.

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How do you create new marketing mix ideas?

1

2

3

4

5

1 Analyze your current marketing mix

2 Brainstorm new marketing mix ideas

3 Evaluate and prioritize your marketing mix ideas

4 Implement and monitor your marketing mix ideas

5 Here’s what else to consider

Marketing

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How do you create new marketing mix ideas?

1

2

3

4

5

1 Analyze your current marketing mix

2 Brainstorm new marketing mix ideas

3 Evaluate and prioritize your marketing mix ideas

4 Implement and monitor your marketing mix ideas

5 Here’s what else to consider

Marketing

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