Way back in 1953, Neil Borden coined the term marketing mix to help those in the retail business consider the process through which their products or services (in this case, cars) go from Point A (arriving at your dealership) to Point Z (customer drives off your lot after buying a car). Several decades later, the “Four Ps of Marketing” were developed in support of Borden’s marketing mix.
Marketing Mix Ingredients
Product: The goods and/or services your customers want (again, in this case automobiles and related services).
Promotion: The ways a dealership goes about distributing information about their products and services to their customer base – and their market as a whole.
Place: Where customers go to look at and/or purchase your goods and services; here, we refer to your physical brick-and-mortar dealership. But it can also be your Website to a certain degree, and it can be anywhere one of your advertisements is seen and heard.
Price: This determines the actual values of your products and services to prospective buyers. Here, you have to think about how your prices compare to those dealerships around you … and whether or not you need special sales or discounts to get the sales numbers you’re looking for.
What was true more than 60 years ago is still true today: When the four Ps of Marketing are in place, a business flourishes. In the ideal automotive dealership marketing mix, you have products people badly want; you capture everyone’s attention and make them want to buy from your dealership; your cars and services are offered at a great location people visit frequently; and your prices are at a place where you make a great profit while the customer still feels they got value for their dollar.
Need the Perfect Marketing Mix?
Give Eric Tigner a call today at (321) 397-0777. For your efforts – and with no obligation on your part – we’ll give you a FREE Automotive Advertising and Marketing Report that tells you about your dealership and its place in your media market (including some interesting information about your competitors). You’ll discover how JKR can increase your foot traffic and overall bottom line, while reducing your ad spend and stress level – and you’ll have a much better idea of how we can help your dealership achieve the marketing mix that makes magic for our clients.
JKR Automotive Advertising and Marketing: We Move Cars.