How to Define Marketing Mix

Video Transcript

"The marketing mix is simply the combination of media elements and the formula you use to market your business. I'm Peggy Collins and I'm going to help you understand just what your media mix can mean to your business. Today there are literally thousands of media options available to business owners. Finding the perfect blend of media to keep the cash register ringing can be a challenge, especially for small advertisers. But there is good news. It can be done. Some national advertisers just seem to be in every magazine in you pick up when they really are just in every magazine you pick up. Did you catch the difference? That's called target marketing and you're a victim every day. This marketing strategy allows an advertiser to spend his ad dollars in the media most likely to meet his target consumers, thereby eliminating waste and focus on his customer. While newspaper advertising is most general in its reach and appeal, you can buy zoned editions to concentrate your exposure on the geographic area closest to your business. Cable TV also allows you to buy a zoned ad schedule. These can be very effective for small merchants who offer services that customers don't generally travel great distances for, such as dry cleaners or car wash. You can also target viewers based on interests and network viewing habits. Radio can also target specific listeners based on music profiles and listening preferences, along with demographic ratings. To buy TV in the right programs helps insure the most costly media works hardest for you. There is an art to the science of media buying and I'd recommend you seek the advice of a professional marketing expert to save yourself heartache, hard lessons and thousands of dollars poorly spent with little or no return. I'm Peggy Collins wishing you good luck and good business."