Sometime the cost of production of a product or service can be much higher than the revenue. After that they are ranked according to their effect to the company. It can help in developing the ease in entire channel of distribution.
In conclusion, the marketing strategy is an important strategic undertaking. Planet preserve also need to identify the favorable and against elements available within the internal as well as external environment. In marketing audit the organization can do the situational analysis and most importantly try to identify their current position within the market.
If financial stability is available then the marketing strategies could become more effective and financial resources could be invested in various marketing platforms. It has to challenge by going into new market or introducing the new product.
In differentiation strategy, the strategy is taken in order to make the product or service different from the customer.
It should be available within the market all the time so that clients can enjoy whenever they need it and most importantly wherever they need it. Further the segmentation, targeting and positioning strategies have also explained along with marketing mix elements.
However, marketing strategies involves in making plans of making or selling a product. A marketing strategy is therefore an important component of the overall business strategy because it helps the business to gain a competitive advantage by differentiating its products and aligning the marketing activities to the mission of the organization.
Different products and services are developed by different organisation in order to provide best service to the customer. To ensure the competitiveness from the product development phase there is need of focusing upon certain stages that can allow improving the positioning within the market Hill, It could be beneficial immensely with respect to the get leading edge on the competitors Rafinejad, So, I have tried to segment the consumer based on the group.The term marketing mix refers to the marketing activities used to create, communicate and deliver value to the customer (Kotler, Keller, Brady, Goodman, & Hansen,p.
). The four main marketing mix variables, referred to as the 4Ps of marketing are: product, price, place, and promotion. Companies use price marketing mix strategies for the purpose of to stay competitive and create a positive consumer attitude to the product. In addition, for the purpose of remaining competitive marketing mix strategy, the company can sell the product, comparable to the basic properties of a similar nature at a lower price.
The strategy also involves determining the marketing mix that the business will utilize in order to achieve its marking goals. The four elements determine the product, price, place, and the promotion strategies that the business will use to achieve its marketing efforts.
Marketing Strategy-Mulberry. Introduction. In order to gain the focused business approach the role of marketing strategies are huge. The principles and fundamental of marketing improve the positioning of brand and most importantly allows company to gain the competitive advantage.
The marketing mix is a process most organizations use to bring a product or service to market. The four Ps is a good way to define the marketing mix tool. The four Ps or four elements of the marketing mix are product, place, price, and promotion, which are used to satisfy consumers’ needs and the objectives of the organization.
The Marketing Mix, a basic tool of Marketing managers, is defined by Microsoft Encarta World English Dictionary as: "mar•ket•ing mix (plural mar•ket•ing mix•es) noun mixture of marketing techniques: the particular mixture of marketing techniques, for example, pricing, packaging, and advertising, used to promote the sale of a product" ().Download