Definition

Marketing instruments are certain specific pillars on which promotional activities are based and which should be taken into account in all undertakings aimed at building the brand image, getting to know the recipients, informing customers about the offer, persuading them to use the services, as well as shaping relationships with them. This set may vary depending on the adopted concept.

Marketing instruments – interesting facts

The concept of marketing instruments is related to the concept of marketing mix or 4P marketing, which has been valid for decades. It assumes that the key elements of advertising are: the product (product), price (price), special offer (promotion) and place of distribution (salaries). Some time ago, this concept was expanded to include the fifth "P", i.e. people (people). In turn, a more extensive formula of marketing instruments, i.e. 7P, also adds material evidence to this set (physical evidence) and process (process).

There are also other concepts of marketing instruments, for example the 4 C concept, which is based on: customer value (customer value), cost (cost), convenience of purchase (convenience) and communication (communication). In turn, the 7C concept indicates the following elements: credibility, context, content, clarity, continuity, coherence, information channels.

Marketing instruments – the most important information

As you can see, marketing instruments are certain elements that need to be analyzed, planned and then implemented for the business to develop. The multitude of concepts shows that the issue is broad and can be considered at various levels. After all, marketing is a complex process.

The decision on which marketing instruments should be currently focused on, in what configuration and how to develop them is the basis of a good advertising strategy. It must be remembered that this choice depends on many factors, including the industry, the size of the company, budget, target group, as well as the type of services or products offered.

However, the concept of 4P marketing instruments remains classic and current for decades and works for every company. Simply put, it assumes that the essence of effectiveness is offering a good and accurately priced product in the right way and in the right place. The 4P concept therefore defines these basic marketing instruments and is a good starting point for all advertising activities.

Analyzing the topic a little more closely, a product will mean both the goods and services of a given company, but also the set of benefits it brings to consumers. Price is the amount we pay for the above. Determining the optimal price, i.e. attractive from the customer's point of view, but also profitable for the company, is not an easy task. In turn, the place or distribution channel where the offer appears must be easily accessible and provide convenience. The fourth instrument is promotion, which serves to adequately inform the recipient about the offer and encourage him to make a purchase.

Summary

The appropriate use of individual marketing instruments is crucial for the development of the company. Product, price, place of distribution and promotion are the basic elements building a brand's success. It must be remembered that the market is subject to dynamic changes, therefore the choice of marketing instruments, their configuration and the method of working on them cannot be determined once and for all, but should be subject to ongoing verification. The choice of tools (and there are many of them) to build a given "P" will depend on what stage of the company's development journey it is currently at.

Related entries:

promotion tool, creative agency, branding agency, consulting agency, company vision, agency 360, strategic consulting, product strategy, strategic plan, business strategy