Blog 7 - Marketing Mix

 Juan Enrique Millet Zapata

Marketing Mix

 

In this blog I will talk about the Marketing Mix.

Sometimes when the marketing department or in any particular area of the company requires generating changes or developing strategies, a situation analysis is recommended as a basis and this is called Swot Analysis, but also it allows you to identify various aspects that should be considered before making changes in the company like, there are 4 (internal, external, controllable and non-controllable factors).

Also, the Swot analysis includes Strength, weakness, opportunity and threat.

Strengths:

·      Controller and internal factors of the company that allows us to visualize what the company is doing properly.

·      Some examples could be: having a diversity of branches, use of technology, among others.

Weakness:

·      Negative aspects which can be considered as opportunity areas because the company needs to control them so it can make improvements in the company and become better on some aspects.

·      Some examples could be: they do not certifications, little time in the market, they are in one city, among others.

Opportunities:

·      External aspects, not controllable by the organization but that can benefit the company in some way.

·      Some examples could be: Reduction of taxes on our products, the government offers free training, congresses are held to link with other companies, among others.

Threats: 

·      Non-controllable aspects that may harm the organization.

·      Only aspects of how to be the least affected by these external aspects can be identified.

·      Some examples could be: new competitors, increased tariffs, greater legal regulations, among others.