Post by amirmukaddas on Mar 14, 2024 2:05:48 GMT -5
What does the customer want from the product/service? How will he use it? Where will he use it? What characteristics must it possess to satisfy customer needs? Are we developing this product according to the required characteristics? What name should you give to the product? What sizes and colors do you like? How does our product differ from the competition? What should the product look like? What should our product be associated with in the customer's mind? Price The price of the product/service is the second element that constitutes the marketing mix and this depends on a series of important elements to take into consideration: total cost , which must be taken into consideration when defining the final price; contribution margin , i.e. the mark-up that is added to the total cost and which will be considered our profit from the sale; competition: obviously the final price will have to take into account the price charged by competitors, considering the market niche in which we will operate; Within the pricing strategy, it is possible to recognize three: Market skimming; Market penetration; Price diversification; Place Place instead indicates where we want to sell our product/service and our distribution strategies.
Do we want to sell online? Offline? Through single-brand or multi-brand stores? Do we want to tackle an omnichannel strategy (selling on multiple sales channels, online and offline)? All the answers to these questions must then presuppose a well-organized distribution strategy on a local, national and international scale. In general it is possible to distinguish the following distribution strategies: Intensive distribution; Exclusive distribution; Selective distribution; Franchising; Promotion Promotion, on the other hand, is the set of strategies useful for promoting our product/service and informing Denmark Telegram Number Data customers of everything there is to know about it: it is one of the most important points to take into consideration among the 4 Ps of Marketing. This includes: Sales Organization; Public Relations; Advertising; Sales Promotion; So we have done everything perfectly up to this moment: we have a good product that potentially satisfies the customer, we have defined a fair price that can satisfy the company and customers; we have developed a perfect distribution strategy.
But now the focal point is: how to promote the product and make it known to the target? Obviously it is an extremely important question because even if we have the best product and everything falls within the pre-established parameters, we must move on to communicating these to the identified target! Here promotion presupposes the identification of a series of channels with which to communicate. Sector trade fairs? Website and Social Network? Advertising on TV, radio and other mass media? Unconventional marketing initiatives (e.g. guerrilla marketing )? Door to door sales? All these promotional choices will necessarily depend on the market (BTB or BTC?), the target identified and our available budget, as well as the human resources to be committed to this task. These are the 4Ps of Marketing , or Marketing Mix, to which over time other important components have been added in the definition of one's Marketing strategy (to the point of becoming what Kotler defines as the 7Ps, also including People, Process and Physical evidence). In my opinion, one of the most important points of a Marketing Plan is undoubtedly the identification and structuring of the Marketing Mix, since without this it would be impossible to define any useful strategy for the continuation of company life.
Do we want to sell online? Offline? Through single-brand or multi-brand stores? Do we want to tackle an omnichannel strategy (selling on multiple sales channels, online and offline)? All the answers to these questions must then presuppose a well-organized distribution strategy on a local, national and international scale. In general it is possible to distinguish the following distribution strategies: Intensive distribution; Exclusive distribution; Selective distribution; Franchising; Promotion Promotion, on the other hand, is the set of strategies useful for promoting our product/service and informing Denmark Telegram Number Data customers of everything there is to know about it: it is one of the most important points to take into consideration among the 4 Ps of Marketing. This includes: Sales Organization; Public Relations; Advertising; Sales Promotion; So we have done everything perfectly up to this moment: we have a good product that potentially satisfies the customer, we have defined a fair price that can satisfy the company and customers; we have developed a perfect distribution strategy.
But now the focal point is: how to promote the product and make it known to the target? Obviously it is an extremely important question because even if we have the best product and everything falls within the pre-established parameters, we must move on to communicating these to the identified target! Here promotion presupposes the identification of a series of channels with which to communicate. Sector trade fairs? Website and Social Network? Advertising on TV, radio and other mass media? Unconventional marketing initiatives (e.g. guerrilla marketing )? Door to door sales? All these promotional choices will necessarily depend on the market (BTB or BTC?), the target identified and our available budget, as well as the human resources to be committed to this task. These are the 4Ps of Marketing , or Marketing Mix, to which over time other important components have been added in the definition of one's Marketing strategy (to the point of becoming what Kotler defines as the 7Ps, also including People, Process and Physical evidence). In my opinion, one of the most important points of a Marketing Plan is undoubtedly the identification and structuring of the Marketing Mix, since without this it would be impossible to define any useful strategy for the continuation of company life.