A marting strut defines the marketing strategy a pipeline plans to use in order to sell their crossroads or go to consumers. The marketing unify is a conclave of the four P?s of marketing, known as the intersection, place, promotion and price. By diminution the elements of the marketing mix into these four categories, do byment can manage the marketing plan more efficiently and develop an powerful marketing strategy. No one element of the marketing mix is more important than any other element. The objective of a strain?s marketing strategy is to develop a successful marketing mix using an optimal gang of the four P?s.
ProductThe first P, product, in the marketing mix involves determining the products or function to offer for sale. ?The product range is concerned with developing the right ?product? for the target market? (Perreault & McCarthy, 2004, p. 38). The product refers to tangible products and intangible services. Marketing inquiry is vital in developing the marketing mix and continues end-to-end the marketing process. Research allows the business to discover what products or services the consumer wants, needs or desires. ?If you dont understand what the market needs first, you cant possibly put the Ps to work effectively? (Scott, 2004, ¶2).
The product stratum allow ins developing the physical good, the service or a combination of the two, which consumers want, need or desire.
Developing the product can include making decisions regarding the features, accessories, quality, and benefits offered with the product. Other areas related to making decisions about the product or service includes installation, instructions and the warranty, if any, to provide with the product. Additional decisions regarding the product include creating a product line, designing the packaging and branding. supra all consumers must perceive a benefit in purchasing the product or service. Once a business has determined...
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