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4 P's Of Marketing Strategy

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EXECUTIVE SUMMARY

Marketing is more than just selling and advertising. It is a process that allows a firm to profitably meet its customers’ needs better than its competitors. A Strategic Marketing in general sets a target market and a marketing mix. It is a "big picture" of what a company will do in some market in order to gain a competitive advantage. With successful Strategic marketing often comes a successful business venture. This is because it is not only selling, but involves the design of the product, how it reaches the customer, how it is priced, and the image that the product holds in the minds of customers. Understanding the perception that consumers have about the product is an essential part of marketing, and success is often based …show more content…

But to create a Strategic Marketing and plan that touch on all areas necessary to position a product in the market to maximize sales revenues, there are multiple areas to be tackled. To build a strong and durable house, it is necessary to create blueprints. Likewise, to build a strong and profitable business, it is necessary to develop a strategy. Essentially, Decisive Marketing is a plan that allows a business owner to direct activities that are consistent with the goals of the business owner and organization and spend money wisely in order to create the greatest amount of return on investment
1.3 Significance of the Study
This research work identifies the existing Marketing of Larsen & Toubro. This research work explores the opportunities for Larsen & Toubro in power & energy market. This study analyzes the market position of Larsen & Toubro. This research work measures the brand image of Larsen & Toubro. This research identifies the strategies adopted by Larsen & Toubro to win customer
1.4 Theoretical Background
An effective Strategic Marketing/plan is an ongoing value-creating process composed of several elements:
• Marketing segmentation
• Strategic Marketing
• Market …show more content…

Market research is necessary to make better firm wide decisions. With marketing being a philosophy where the resources and activities of the firm or company are focused on satisfying the wants and needs of the customer, marketing research is the way a firm with a marketing philosophy determines what those wants and needs may be, and further, how to communicate the associated benefits most effectively and efficiently. Additionally, market research is used to monitor and modify, if needed, the elements of the Strategic Marketing. Market research includes: defining the problem and research objectives, developing a research plan, presenting the plan, implementing the plan (collecting and analyzing data), and interpreting and reporting the findings. This is the area of marketing where we begin to see science as well as art. This chapter focuses in detail on how to research a market, how to know the competition, and how to leverage that knowledge to improve your

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