The Product Marketing Mix
Product marketing mix refers to the methods a company uses to pitch brand, products, and services. In sales and marketing jargon, the 4Ps in the mix typically refer to Price, Product, Promotion, and Place. All of these elements combine to keep customers shopping once they come through the front door.
To this end, implement a strategy using in-store advertising, strong displays, and well-designed signage. High-traffic areas, point-of-purchase locations, entrances, and fitting rooms should be key starting points.
Advertise sale prices in clear view and encourage additional, associated purchases, or "impulse" buys. Colorful, well-situated ads for new products will spark new interest, especially when customers can look, touch, or smell the items.
Display placement should be a prime consideration. Position your products in an interesting manner or with an original setting. Keep these points in mind, too:
- A unique, creative display will catch the customer's eye.
- Make sure the display or advertisement is well lit and attractive. Choose harmonious color schemes and clean design elements.
- Allow hands-on activities to tempt the consumer. Clothing stores encourage trying on merchandise; supermarkets provide food samples, and electronic stores demonstrate product capabilities.
- Display layouts should feature related items nearby. For instance, batteries should be near automated toys. Jewelry and accessory displays and stock should flow in a traffic pattern around the clothing department – not at the opposite sides of the store.
- Holidays and events create excellent theme opportunities. Pay attention to the huge possibilities during major holiday seasons such as Christmas, Thanksgiving, and Halloween. But don’t forget that back-to-school, Mother's Day, spring break, etc. can frame new trends or products.
- Customer immersion into the shopping experience includes all five senses. Displays and advertising play on sight and touch, but what about smell, taste, and sound? Music can lift the spirits, while aromas draw hungry customers to the gourmet department. If you sell food, feature samples on a regular basis. If your stock doesn't include edibles, offer free coffee – a low-cost courtesy that smells wonderful and promotes positive impressions.
The results? More sales and repeat business.