When developing a new product or promoting a new business, the advertising strategy used is one of the first and most important decisions you will have to make. The marketing mix strategy is used by many. This plan is a good starting point for any business. The marketing mix strategy is made up of what is known as the four Ps: product, price, place and promotion. According to this strategy, these are the four areas that must be addressed to market a product effectively. Although some elements may be more relevant to a specific business than others, the strategy as a whole is always useful for those in the business. The more elaborate extended marketing mix includes additional elements, called the three Ps and the four C. These additional three Ps consist of: people, process, and physical evidence, and the four Cs are composed of: merchandise, cost, channel, and communication. This article will focus primarily on the initial four Ps of the basic marketing mix strategy.

Within each of these areas, specific measures must be taken. In terms of the product element, this refers to your decisions about the product details. Along with the name and characteristics of the product, this element also implies more important decisions. When thinking about the product, the marketer must also consider marketing to a niche market.

There are many helpful articles available on using a niche group for marketing. In short, a niche group is a specific demographic of customers that you choose to target with your product. Even more than making specific decisions regarding the characteristics of a product, the product element of the marketing mix strategy refers to offerings that accompany the product, such as warranties and guarantees. Although price is part of the characteristics of a product, the marketing mix strategy provides a separate element for price. The price element is a very important decision because it affects the ability to market the product. Price refers not only to the direct price of a product, but also to consumer relationship decisions regarding price, such as discounts given, special offers, and sales. These decisions directly affect the marketability of a product and its attractiveness to consumers.

The place or location element of the marketing mix is ​​extremely important. It refers to the placement of the product on the market as a whole and how it is presented and distributed to consumers. Promotion goes hand in hand with placement. The promotion element can be divided into four basic sections: public relations, advertising, sales promotion, and personal sales. Together, these two elements cover decisions such as whether the company chooses to use representatives to sell its products or to sell only to distributors or only through the company store. Each of these options has its advantages and disadvantages, and it is essential that the decision is made carefully. For example, if a product is sold only through representatives, this will affect customers who expect to buy online. Some options are better for certain products. Promotion is probably the most important element of the marketing mix strategy for those looking to market their products online.