The Secrets Of Marketing
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The Secrets of Marketing

 
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Sanganak Tech

Marketing is the booming field of the new era. Everyone is busy in marketing its product and making it more popular among the audience. "Marketing mix" is a term used for describing the choices an
organization has to make in bringing a product to the market. Marketing mix is defined in terms of 4 P’s which are :

 

  • Product ( or Service )
  • Place
  • Price
  • Promotion

 

Product/Service :

• What is the customer expecting from the product
• What are the features the product is carrying with itself
• What is the actual and optimum utilization of those features?
• What are the features at utilization in the particular product
• In which size, colour and shape is it available
• It should be taken into account that there shouldn’t be any extra feature that the customers
• What should be its name
• What should be the branding strategy
• What extra features are inculcated that it leaves behind the competitors.
• What is the optimum it could provide to the customers?

Place :

 

• Where are the actual buyers and sellers
• If your product is popular in a store then there is a need to find the kind of store, be it a supermarket or a special boutique
• What is the procedure of accessing the new channels
• There is a need to find out if your need a sales force? Or make online submission or attend
• What are the competitors doing and see if you can learn anything from them or is there any are in which you may differentiate.

Price :

 

• Value of the product should be measured to the buyer?
• Look out for competitors pricing strategy and find out the available product in the same
• You need to peep into the mind of the customers to find out if he is a price sensitive one or not
• You need to fix the discount that should be offers to the trade customers and any other segment or area of your target market.
• How will the price of the product clashes with the customers.
 

Promotion :

 

• What are the possible areas of getting in touch with your target market?
• What should be your exact way of reaching to the audience from the direct and indirect marketing techniques? You need to finalize on press, radio, FM, television, billboard, mailers, PR, or the internet.
• What should be the best time to show your product to the audience? You need to have a checkpoint over the dangers that it may recur to the environment.
• What is the promotional strategy of your competitor?

The four P’s model is just the basics of marketing mix which should be kept in mind every time a new product launches. Fulfilling these criterion doesn’t not give a guarantee of your product to flourish but are is rather some points which are necessary before launching a particular product

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