SmallBusinessNewz

I don't know about you, but I used to get so tired of hearing my professors go on and on about the marketing mix. Little did I know how much it would benefit my career!

The 4 P's of marketing are 4 tools that when used together, meet the needs of the target market.

1. Product - the product or service being offer
2. Price - the amount the customer pays
3. Place - where the transaction takes place (sometimes called the distribution channel)
4. Promotion - the communication process that results in the customer taking action

Over the years, some marketers have added other components such as people, physical evidence, and process. The latest addition to the mix is social media.

Since social media deals with building and keeping relationships, it fits into the mix very nicely, especially with promotion. It breaks business down to a personal level.

You can begin by putting a blog on your business website. This move alone can draw a lot of interaction from your customers. As you develop your blog, you might also want to try other social outlets such as LinkedIn, Facebook, MySpace, and Twitter.

Watch the SmallBusinessNewz video to find out more on incorporating social media into the marketing mix.