Marketing Strategies

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Price, product, place and promotion, the four Ps of marketing, are fundamental for successful marketing communication. One of its goals is building and reinforcing relationships with clientele, retailers and other people who the company markets their products to. But the main objective is to reach a target market and affect their behavior through informing, convincing and reminding. They must reach out to new consumers and persuade then them to purchase their product, while at the same time they must preserve their current customers. But the no matter how good the promotion, it can never substitute for quality, enormously high prices or inadequate retail distrabution. (http://www.referenceforbusiness.com/management/Log-Mar/Marketing-Communication.html) An understanding of the company’s mission, distinguishing the company’s strengths and understanding the target market are integral to develop a company’s business plan. By doing thse three things a company can create a sucessful business plan. (http://media.wiley.com/product_data/excerpt/48/04713472/0471347248.pdf) A business’s mission defines the company. It includes understanding what business the company is in and identifying the target market and the company’s values. A business without a well developed mission may miss opportunities and has no real knowledge. (http://media.wiley.com/product_data/excerpt/48/04713472/0471347248.pdf) Core competencies, determining the company’s strengths, help formulate the business’s long-term plan. In a competitive market to be successful, company’s primary strengths must have significance in their market. Very successful companies have business plan that maximizes the business’s core competencies. A company’s noncore compete... ... middle of paper ... ...vertised and sold online. To market goods online, a great product, amazing marketing strategy and a website to sell the item is needed. In order for such a plan to be successful there must be both a short-term and a long-term plan. The short-term plan is to get the most people to view your site and product as possible. It can include advertising in search engines and on other sites and participating in online forums. A long-term plan will get a steady amount of consumers to visit the company’s website for years. Some marketing strategies can include giving away freebies, creating a mailing list of existing customers and joining social networking site. By producing and applying both short and long term strategies, a large percentage of your target market can visit a business’s website and the company can be a success. (http://www.web-source.net/3steps.htm)

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