Creating a marketing mix report involves research, compilation, formatting, and presentation. It includes analyzing competitors, customer surveys, and product reviews. The report should be well-organized and formatted appropriately, with correct spelling and grammar. It can be presented informally or formally, in print or electronically.
Creating a marketing mix report usually includes research, compilation, formatting, and presentation. Businesses with a focused and sustainable marketing mix typically improve sales of goods and services, gaining and retaining customers, and increasing customer satisfaction. The research that goes into a marketing mix report can range from competitor analysis to customer surveys to focus groups. A good marketing mix depends on knowing what current customers value and want to change, as well as what competitors do to attract or retain customers.
Product review is also an important part of putting together a marketing mix. Some goods and services are best promoted by visual demonstrations. This can put TV commercials, videos or supermarket giveaways into the marketing mix. Other products may benefit from less expensive marketing strategies, such as radio ads or newspaper coupons.
Compiling a marketing mix report typically requires sorting the information by category, priority, and relevance. The first section is often a definition of the marketing mix and its importance to market share and positioning. The following sections usually include a discussion of price, product, location and promotion, concepts known as the Four Ps. Knowing what your competitors are offering, what their market share is, and what their shortcomings are is a key part of marketing mix analysis. Companies can change their marketing strategies if they know competitors’ current and proposed price lists, product or service quality, and customer satisfaction ratings.
The correct way to format a marketing mix report largely depends on who is submitting the report. Small businesses may request a more informal, easy-to-follow step-by-step analysis, while large companies may request a formal report to the company’s specifics. Regardless of your preferred style, correct spelling, grammar and punctuation are usually a must. A table of contents, index, and glossary are useful things to include. Breaking chapters into small, easy-to-digest sections and using bullet points and numbering systems also help your audience navigate through a marketing mix report.
A marketing mix report can be associated in various ways. Informal reports can be stapled in the upper left corner if they are not too bulky or placed in a ring binder secured with a brad or small. Larger, more formal reports can be bound like a book with a soft or hard cover.
If an electronic marketing mix report is required, it can be emailed, downloaded, or posted on a website for review. It’s usually a good idea to turn a document created with word processing software into a portable document file (PDF) before attaching it to email or uploading it to a website.
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