NAILING THE RIGHT MARKETING MIX IN 2019On today’s episode, we have recurring guest Gary Beck – a 30 year marketing veteran. Damian and Gary go back to school and review the 4 P’s of Marketing and the Marketing Mix. More than just telling us what those terms mean they apply it to the current marketing landscape.First, they kick it off by defining and digging into each of the 4 P’s of Marketing:* Product* Price* Place* PromotionDamian brings up a very important nuance that many marketers don’t know, which is promotion doesn’t exclusively mean price. Gary breaks down the difference and how those two P’s can work independently from each other.Next Gary answers the question, “What can we do to get the mix right?” This gets the guys into a conversation that Damian says “is one of the reasons why this podcast exists.” Getting the mix right is all about testing and understanding the dynamics of how the different channels work together.After that back and forth, to really drive the point home,  Gary and Damian discuss how using Search and Broadcasting together can benefit some companies while using them independently might benefit others. The decision on how to allocate money in the marketing mix is all about finding the synergy that works for you and your companies budget.Damian then asks Gary “So, what are the key things that marketers should watch out for whether it’s designing experiments or just coming up with the marketing mix and media mix strategy?” The number one thing, Gary says,”is that marketers need to be on the lookout for are what we might call market disruptions of some sort or some competitive activity.”Finally, Gary answers the question, “Is it possible to objectively construct a model that can inform our decisions on shifts to this marketing mix?”Gary with his extensive modeling background answers that question with his method of attribution modeling.What follows is a lightly edited transcript of Episode 8 of the Inevitable Success Podcast with Damian Bergamaschi and special guest Gary Beck.Transcript:Damian: Welcome to the Inevitable Success Podcast, sponsored by BuyerGenomics where our goal is to help you, the marketer, make success inevitable. Each episode will discuss the craft of data-driven marketing, helping you uncover new and profitable ideas. You will also learn what works and what doesn’t work from top marketing professionals and thought leaders. I’m your host: Damian Bergamaschi and inevitable success starts here.Good morning Gary. How are you doing today?Gary Good morning Damian. I’m well. Thank you. Thanks for having me again.Damian Absolutely. So today we’re going to speak about something that everybody probably learned back in school, something called marketing mix. And I want to kind of bring it back to what we all do now in the real world, every day, and what marketing mix means now and try to make it as actionable as possible. But first, for anybody that maybe didn’t hear that term before, or you didn’t make it to that day of class, what is marketing mix, Gary?Gary Marketing mix refers to all of the components of selling a good or service to a customer. So, in business school in marketing 101 we refer to those components as the four Ps of marketing, and those four Ps typically were product, place, price and promotion.Damian I’ve even seen if you Google this, there’s some that go as far as Seven Ps, but I think that’s enough Ps. Why don’t you walk us through what that is?Gary Great, I’d be happy to do that. Before I started, in digital marketing and direct marketing,