All the efforts are geared towards widening the market coverage and achieve as much sales as possible. As this happens, there is a lot of completion between companies in the same industry. Company positioning tries to win the hearts of the customers as far as products and/or services are concerned as compared to those of the competitors. There many ways of making sure that positioning strategies are successful. Such includes Industry Structure analysis, value chain analysis, benchmarking, and taking competitors as stakeholders among other positioning strategies.
Prices: How we can price our products in such a way that the clients are happy to be loyal? Place: What alternative distribution channels are out there for the clients to experience and buy out products? Promotion: How we can develop our promotions campaigns in such a way that our brand will be more visible and enhance brand
In order to transfer proposed value to customers, an integrated marketing program is launched by marketers after the step of designing marketing strategy. Formal planning can produce many benefits for all kinds of organizations (Kolter, Armstrong, Brown, Adam & Chandler, 1998). The marketing program establish relationship between organization and customers when the marketing strategy is transformed to action successfully. When the marketers have many decisions to make in order to find out the best way to present their products or services, marketing mix is used as a strategic tool for marketers to introduce their products or services (Solomon & Stuart, 2000). Marketing mix, a set of marketing tools is used by the firms to implement the marketing strategy.
Brand awareness therefore is the knowledge or perception of a brand and is about maximizing recognition and exposure to potential customers. Secondly, there is the brand knowledge. Here, not only is the potential customer aware of the brand, but there is some underlying knowledge about the brand. For example, there exists a knowledge on the price, the positioning as regards
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.
In Imago Digital (USA), they use personalized marketing on their most successful direct marketing campaigns that they create for their clients. It turns out that this is an excellent idea —some of their response and conversion rates can be seen on these personalized campaigns. They are through the roof when compared to traditional direct mail campaigns. They have given importance to personalized communications as personalized marketing is very customer-focused. There are many case studies that present success stories when utilizing personalized messaging.
The marketing mix elements have to be combined in right proportions accordingly to capture and promote a certain brand by emphasizing its unique features and properties while differentiating it from the competitors. Product This is the first element in the marketing mix. A product is developed in order to satisfy a particular need of a customer. A product decision is normally based on Brand name, Variety, Quality, Design, Features, Packaging and Services. These product attributes can be changed with respect to what the target market wants.
It helps to understand what the product or services offer and how to plan for a successful product offering. Among the four P’s promotion is the marketing communication strategies and techniques these may include a sales promotion, advertising, special offer and public relation. There is difference between marketing and promotion whereas promotion is just the communication aspect of the entire marketing function. It provides information for assist customer to make decision to purchase a product or services. Successful promotion helps to increase the sales so that advertising or other cost is spread over a larger
Product, service and branding attributes are important when it comes to making a purchase related decision. Some important elements are: a. Brand name awareness b. Brand reputation c. Brand purchase loyalty Much greater emphasis should be on selling organization, credibility rather that on individual brands and related features. How much is the brand name, product appearance, price and market distribution is important must be recognized with respect to each type of customer.
Marketing refers to what an organization must do to exchange and create value with the customers. Marketing has a main role to play in the setting of a firm’s strategic way. Successful marketing requires both a great skill in developing an organization’s power so as to serve customers profitably and the deep knowledge of customers,competitors and collaborators. Marketing, is a broad general management responsibility , not just a function related to specialists. Anyone with career interests that lead to the setting of the strategy of an organization, regardless of its type or size, will require marketing skills and insight.