The extended marketing mix is a combination of elements that make up a campaign to sell a product. It is an expansion on the original marketing mix of product, placement, price, and promotion, adding additional factors that can influence the success of a campaign. Companies preparing to launch new campaigns need to think about how to organize them, given the product, the company’s reputation, and the market. Failing to assemble the right marketing mix can result in a catastrophic introduction to the market.
In the mid-20th century, marketers began exploring the "Four Ps," as they are known. The product itself, along with the price range, is important, as is the placement in appropriate venues and the promotion to reach consumers. Other elements of an extended marketing mix can include people, physical environments, processes, and the provision of customer service. Keeping with the P theme, marketing professionals have developed a number of mixes including seven to 27 Ps.
Expanding the concept of the marketing mix is important for companies that want to adapt to new markets. For example, just placing a product in stores is not enough. A manufacturer with retail outlets also needs to think about physical environment and layout. The store should convey the right look and feel, leading consumers to build up positive associations with the brand. Products inside the store should be displayed logically and consistently, in the locations customers would check first if they were looking for specific items.
Process control can also be important for the marketing mix. This includes monitoring the stages of production for safety, efficiency, and other factors, like whether a company adheres to internal standards. A firm that wants to be able to market environmentally friendly products, for example, needs to add process control to its extended marketing mix in order to assure customers that it is accountable and does exercise precautions to protect the environment.
Firms with internal marketing departments can discuss the extended marketing mix and the steps they need to take to get ready for a planned release. This can change with each release, even as the company wants to maintain an overall consistent image. Outside consultants can also be involved in this process, as firms may hire them for specific campaigns or to offer assistance with revamping an image. A strong extended marketing mix can be key to a successful campaign as well as the longevity of a company’s position in the market.
