Many companies spend a large of time and money on product collateral, PR campaigns and on other option but with that either companies do not reach and properly deliver their message to their target customers or cannot achieve their business objectives and goals. However, those companies that make Effective Marketing Communication Strategies, differentiates themselves from the competitors,
Marketing promotional mix tools help company to reach customer base & raise awareness of product is essential part of company communication strategy. All companies try to balance the various parts of the mix this not only create an integrated approach to companies marketing communications but also devote enough resources for each component to be successful.
Market segmentation refers to sub dividing a market keeping in view some commonality, similarity, or kinship. Market Segmentation is considered one of the most important pillars of marketing strategy. The purpose of segmentation is the concentration of a company on the subdivision or market segment to gain a competitive edge within the segment. Concentration of a company on particular segment is actually essence of all marketing strategy.
Marketing Distribution channel is actually one slice of the overall marketing pie chart. By the help of distribution channels a company makes its products or services available to the consumers. Distribution channel plays a vital role in a company’s overall marketing strategy. This is also a part of the “Four Ps” of marketing i.e. product, promotion, price and placement or distribution.
When planning your strategy for Integrated Marketing Communication or IMC, a company should have dialogue with customers by inviting interaction through the coordinated efforts of timing and delivery of company’s products or services. A company must needs to ensure direction, consistency, clarity, timing and appearance of messages, conveyed to company’s targeted customers,
There are three steps that are required to promote a product successfully. These steps are segmentation, targeting and positioning also known as STP Process. In every business either on small or large scale marketing forms a major platform of operations. Marketing is the base of successful business and it is due to marketing that a business venture flourishes touching the heights of glory.
Price is a strong element of marketing strategy of any company. Price has direct impact on the customer, customer buying behavior, business and on the overall economy. To customers the price is a major indicator of the good quality of product and also important factor in making decision about its purchase. Price strategy is therefore, most vital and critical area of marketing strategy.
Marketing research process is an important tool to understand consumer behavior, needs, priorities and consumer buying behavior. In addition to this, companies will also become able to analyze their competitors and may conceptualize a good advertising plan. Conducting marketing research also allows the c-suite executives and marketer to observe and identify the new trends that affect company’s sales and the profitability
Pricing is an important part of a company’s marketing mix strategies. Pricing strategy helps to increase a company’s product or service sales in selected market. It also have direct impact on growing company’s market share. 5 Types of Product mix pricing strategies in marketing are Product Line, Optional Product, Captive Product, By-Product & Product Bundle Pricing
The marketing process is to analyze market opportunities, selecting target markets, developing marketing mix, and finally managing the marketing effort. As one can see that the targeted customers stand at the center of the marketing process.