Concept and Practice of Marketing Strategies
Marketing strategies, also known as Marketing Strategies, Marketing Strategies and Business Strategies, consist of actions carried out to achieve a specific objective related to marketing.
Examples of marketing objectives include: attract more customers, boost sales, to publicize new products, better coverage and display of products, etc.
The design of marketing strategies is one of the functions of marketing. In order to design strategies, first, we must analyze our target audience so that, based on this analysis, we can devise strategies that take care of their needs or wishes, or take advantage of its characteristics or customs.
But in designing marketing strategies, we must also take into account competition (for example, by designing strategies that take advantage of their weaknesses, or based on strategies that are working well), and other factors such as our ability and our investment .
For better management of marketing strategies, they are usually divided or classified into strategies to 4 aspects or elements of a business: strategies for the product, for the price, for the place (or distribution) and promotion strategies (or communication). Set of elements known as the 4 Ps or the mixture (or Mix) marketing (or marketing).