Written marketing strategies need data from market analysis. In this strategy, you can pave the way for your business to enter the market, such as pricing, advertising and selling your product or service.
What are the marketing strategies?
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Product: A product refers to a product or service that you plan to sell. In this product section, there are small points related to other products that you need to include:
Product Name (Brand)
Products or services that can be sold together
Functions of those products
Packaging
Product quality
Warranty.
Promotion: This covers the entire aspect of how you market your product or service. Here are some things to keep in mind:
Advertising
Marketing Budget
Inspirational Advertising Strategies
Public relations (refers to participation in social work)
Sales force (sales staff)
How to boost sales.
Price: The price point is how you set the price for your product or service. The little things you need to have are:
Sold as a package (if you have a product that can be sold in bulk)
Set a flexible price (when you set a price that leaves a small profit margin too small, and if you create a special discount program, for example, a 30% to 70% discount, you and Long Chong)
Pricing strategy (What do you set the price based on? Quality, brand, competitive price or based on production cost)
Wholesale and retail prices (if you are a manufacturer or a wholesaler, you need to set a price gap for those who buy from you to resellers and retail prices).
Place: A place where you have to deliver your product to customers. Its small points are:
Distribution location
Distribution equipment (cars, motorcycles or other transport machinery)
Goods management
Shipping
How to receive customer orders and delivery to
Shipping method and duration
Warehouse.
Here are five key pointers in moving your marketing strategy forward:
1. Distinguish your product or service
The first step in a marketing strategy is a sales proposal (USP) or whatever you have designed to make your product unique.
First create a sales proposal, then write it down with something related to 4Ps. The point of this point, in turn, refers to a marketing strategy that can solve problems or meet the needs of customers better than others.
2. Know customers
Information from market research should be incorporated into marketing strategies. When you first do market research, you know who your customers are and what they want. At this point, you need to be clear about what customers want and what they expect in addition to what is already there. Once you know your customers, you can use effective marketing strategies.
3. Flexible
While 4 Ps works well for the product, it also needs to be upgraded to some services. For example, in the case of Place, you may want your customers to find your location on Google Maps, and you have added customer service to your company's website, which is modern flexibility.
4. Research
When you are setting a price, you should plan ahead for any changes or unplanned changes. Do thorough research on how your competitors are advertising and other data such as the selling price, packaging, etc., then compare that data to see if you set the right price.
5. Remember your marketing budget
Your marketing budget is limited. So you have to remember the amount of it, do not use it before completing the project that makes it difficult to reach the goal.
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