Marketing is the management process through which there is a movement of goods and services from the concept to the consumer. The process includes the 4 P’s coordination which is inclusive of the product identification, selection, and development. The second P represents the price determination, third is the consumer’s place distribution channel, and finally the promotional strategy’s development and implementation.
For example, Nestle products are developed to include systems and applications which are improved; they are then set with different prices, sold to various places with various promotional strategy. The marketing strategy is based on thinking about the business which is dependent on the satisfaction as well as the needs of the customers.
Marketing is different from selling such that it is not concerned with the exchange value. It is concerned with the demand for the products and the consumer needs satisfaction and not getting the customers to pay for the products.
Looking at the target population offline and online is essential in coming up with the most popular marketing strategy. There are plenty of ways in getting the brand noticed. Also, in coming up with a good plan, one would need to understand how the market works and also the role the market plays. Developing a marketing plan is also important to ensure it is successful and achieves the set goals.
It is defined as having the limited goods that are demanded in the market. Sometimes it works as a motivator due to the fear of losing your share. When the commodity is scarce, there is always competition due the attractiveness that is created. For example, if a Christmas tree is what makes a holiday successful during the special festive season, having it is scarce level makes it more attractive as everyone rush to get it. Hence, to motivate people to buy a product, the company might decide to hide the de avail it from the target population.
It is a marketing strategy through which the advanced technology is used to get a brand to people who does not know that they are targeted. For example, when watching a movie, the actors might be taking a coke or eating some chocolate with the brand name written in it. Since there is power in the celebrity motivation on marketing the product, one might be pushed to buying it. Hence, the consumer is not aware that they are targeted but motivate them to purchase a product.
The marketing strategy is guided by a creative professional as a form of promotion effort. For example, for those who can remember the hipster shoes by the name TOMS in the past which was marketed for a cause-related? They were familiar to boys in their twenties who lived in less than 1000miles from the urban centers. For every shoe purchased, a pair was donated to a needy kid. Since people like to buy something as well as to help the needy, the method of marketing strategies is very useful. Many organizationsuse the marketing strategies which support those in need like those suffering from some illnesses or the needy. Hence, it is a very effective method to market and promote products.
The strategy is a common and incredible type of marketing strategy. It is a form of partnership which has two businesses that support each other, and they do not compete against each other. For, example, in the past, each Barnes and Noble in the past used to have a coffee shop attached to it. So they market each other such that, everyone perusing the book can have a coffee while doing that. Also, when one goes to take a coffee can be interested in looking for the recent books in the market or read a favorite one. Hence, the form of marketing is one which comprises of one that has one business that supports each other.
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The marketing strategy involves the creation of a good relationship with you customers and looking for ways to maintain them. The marketing strategy involves satisfaction of the clients and exceeding their needs. Currently, most of the companies have come with the customer relationship management software which helps them to track, manage and record the customers’ trend patterns, correspondences, and purchase. Once the client fundamentals are identified, the reason they buy from that company and the industry trends and standards, it is easy to keep your customers’ relationship.
Be Seen and Be Heard
The method involves the use of word of mouth. It involves being present online, sharing about the product through the available channels. Also, it means treating the customers with respect who will recommend them to the friends. Hence, the method of marketing is easy and ventures to is directly or indirectly consume the product. It is one of the most effective marketing strategies to use especially if the services products are satisfactory and exceed the consumer’s expectations.