What is a marketing strategy?
Marketing strategy is the result of deciding how a particular product or service will be promoted to its target customers. Marketing strategies are used to increase sales, launch new products and generally provide profit for the company. Strategies include the construction and implementation of the marketing mix. The marketing mix, which is also known as five PS, concerns product, price, packaging, promotion and place or distribution.
Place or distribution strategy may include selling items in brick and mortar stores as well as through the web. Or may include a choice of one distribution channel over the other. It is important to choose the right distribution strategy for the company, because this is how the product gets to the customer. The opening ceremony of a new restaurant may include radio promotis discount coupons and free food gifts to create a "buzz" that invite customers in the door. Opening shoes in a shop can not only have signs before their tradeThey make their door open, but can place ads to local newspapers as marketing strategies to attract more customers.
Packing is one of the marketing strategies that can be easily overlooked because it may seem like a mere detail. However, studies show that the content and appearance of the product packaging can significantly affect whether the consumer decides to buy a product. The consumer can easily choose a similar competitor's product if it seems more attractive and beneficial for the buyer's needs.
prices decision are an important marketing strategy, as consumers can be influenced by lower prices of similar products submitted by competitors. The price must be a value for consumer. Advertising strategy should back up product prices. For example, words like premium and upper part of the line in advertising can tell consumers that the productIt is of high quality and therefore guarantees the price.
The product as a whole must be presented to consumers effectively. Advertising, prices and other parts of the marketing mix strategy must work together to create a brand that attracts and forces the target market to purchase a product. Branding is important within the marketing strategy because it distinguishes the product from competitors. For example, unlike most of the syrups coughs, the Buckley's® advertising report, which "tastes terrible. And works", distinguishes it from other brands. Marketing message works; Many consumers seem to be willing to cope with an unpleasant taste if the product helps to get rid of irritating cough.