Marketing Mix: Advance Slim
Marketing Mix
Marketing mix is our strategy that we used to set of actions or tactics to make our business success in the market. There are 4Ps of marketing mix which is price, product, promotion and place.
a) Price
Price is the value that we put for our product and we need to make sure it is the right price. The cost of production, willingness to pay, segment targeted, the supply and demand in the market, and indirect and direct factors are contributed to setting the price of our product Advance Slim. Pricing also helps in increasing the image of Advance Slim and differentiate it with others product. We also used some types of pricing strategy such as penetration pricing, competition pricing, and psychological pricing.
The penetration pricing
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This strategy focus on setting the price to compare the price of our products with the price of competitors products. We have three options to set the price and the options are price lower, price the same or price higher. We prefer to set lower price when we begins to sell the products because we only a beginner in the market and need some time to gain our own customers.
Furthermore, we also used psychology pricing as our strategy in business marketing. We try to convince to customers that the expensive price of Advance Slim proved that product have very good quality and the originality of the product is guaranteed. These is the reasons that we give to customers when they asked why we sets the price is higher or expensive than others
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We also answer some questions before we create an effective promotion strategy. The questions are:
How to create powerful words to attract potential buyers?
When is the best time to make promotion?
Which social media is the most suitable to used?
What is your competitors strategy to promote their product?
d) Place
Place refers to the position of product to be sell to customers. It is important to catching the eye of customer and making them easy to get the information and buy our product. We need to identify the best place to promote our product. We have Facebook Page, Instagram and blog account for doing business. Most of them have difference audience that have potential to be our customers. We found that Instagram users is more active in buying product that offered on Instagram because it's more easier to review the product and search any product by only using some keywords that call as
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