MARKETING STRATEGIES

Marketing Strategies



Marketing Strategies

Principles of Marketing Mix

Marketing is a set of techniques to market research that attempt to achieve the maximum profit on the sale of a product: through marketing, organizations are able to know what type of audience will be interested in their product. Its primary function is to satisfy the customers (potential or current) through which seeks to design the product, pricing, distribution channels to choose and appropriate communication techniques (Scarpi, 2007, pp. 18). The marketing mix is a tool used by the company to implement marketing strategies and achieve objectives. These tools are also known as the Ps of marketing.

Product

Any product, service, idea, person, place, organization or institution that provides a market for purchase, use or consumption and meets a need. The product policy includes the study of 4 key elements:

The product portfolio

Product differentiation

The brand

The presentation

Price

The exchange value of the product, determined by the utility or satisfaction derived from the purchase and use or consumption of the product.

The mix is ??the element that is fixed over the short term and that the company can adapt quickly to competition.

It is distinguished from other elements of the marketing mix because it is the onlycause of revenue, while the other elements produce costs.

To determine the price, the company must take into account:

The costs of production, distribution.

The margin desired.

The elements of the environment: mainly the competition.

Marketing strategies adopted.

Targets.

Place or Distribution

Element mix we use to get a satisfactory product reaches the customer. Four elements make up the distribution policy:

Distribution channels. The agents involved in the process of moving products from supplier to consumer.

Distribution planning. The decision to implement routine of how to get products to consumers and the agents involved (wholesalers, retailers).

Physical distribution. Forms of transport, stock levels, storage, location of plants and agents used.

Merchandising. Techniques and activities carried out at the point of sale. It consists of the layout and presentation of the product development and advertising and promotion at point of sale.

Promotion

The promotion aims to spread a message and it has a response from the target audience it is intended. The main objectives of the communication are:

Communicate product features.

Communicating the benefits of the product.

Improve brand recall.

Promotion is not just advertising. The different instruments that make up the communication mix are:

Advertising.

Public relations.

Personal selling.

Sales promotion.

Direct Marketing.

Segmentation

For many public sector organizations, their customers span the entire population and can even extend to other groups such as businesses. Segmentation offers a way to take a step closer to understanding such a diverse audience in depth. By understanding the needs, capabilities and behavior of different segments you can shape policy and deliver services more effectively. As well as helping with prioritization, greater customer understanding can enable you to join up services and see their wider impact (Rogers, 2008, pp. 171).

The Benefits of Segmentation

Segmentations are powerful tools with multiple applications. They support strategic thinking, policy making, communications and ...