Check out these marketing mix strategies including product description, pricing, promotion and more that can help you to write yours easily.
Marketing of a product implies its proper introduction to its real buyers so that they get tempted to buy it. A clear statement for the ways adopted by a professional to present a product to its prospective customers publicly, keeping in mind its targeted audience, is known as a simple marketing strategy. When all the 4 Ps of marketing including product, price, promotion and place are combined in the statement to find their effect on the promotion of the product then it is known as marketing mix strategy.
Marketing Mix Strategies
You can get a clear position of the effective marketing of your product among the customers to achieve the objectives of your company by combining the elements of both, marketing strategy and marketing mix. These include:
- USP: What is the unique selling proposition?
- Audience: Who are you targeting with your product?
- Product Description: What’s special about your product?
- Pricing: How does the price of your product compare with that of competitors?
- Place: Where is the best place to target for sales?
- Promotion: What techniques will you use to sell the product?
First of all you will have to define the USP or Unique Selling Proposition of your company for which you are developing a marketing mix plan. It will help you in describing the benefits your customers can get from your product. You can also outline the claims about your product on the basis of USP including what worth your product has for your customers or why should they buy your products. You can narrow down the focus of your marketing of your products by describing USP for each of them.
By identifying the buyers of your product you can narrow down the focus of its marketing. The marketing campaign of the product can be shaped around the identified audience. You should create a picture on paper as well as in your mind about the expected buyer of your product while developing a strategy so that you can specifically approach them.
You should describe specifically the qualities and worth of your product for creating its marketing mix plan properly. You should find the unique features of the product, beyond the known, to offer them to your customers. They should be clearly described in your marketing campaign.
While creating pricing strategy for your product you should research the market to find the strategies adopted by your competitors in this regard. In order to price your products rightly you should study these researches thoroughly. While creating pricing strategy you should consider the sales and profit objective of that product.
To develop an good marketing mix for a product you should identify the place to market it. You should closely observe the suitable type of venue for it for instance a departmental store, small boutique shop or a grocery shop.
You should define the marketing technique to be used for a product. Your marketing plan should include the ways to use promotional techniques including sales, promotional and advertising events, public relation campaigns and person-to-person selling. Thus, to feature the qualities of a product an effective strategy should essentially be created.
Download a marketing mix strategy example
Download a full sample plan containing the example strategies you can as a guide.