subject: The 4 Ps of a Perfect Marketing Strategy [print this page] The 4 Ps of a Perfect Marketing Strategy The 4 Ps of a Perfect Marketing Strategy
Marketing strategies define the methods, means and necessary ways to achieve the marketing objectives. Every marketing strategy contains different details which depend on certain markets and products. When developing a marketing strategy, one of the most important things to take into consideration is the marketing mix. The marketing mix is a combination of 4 very important aspects: the product, the price, the placement and the promotion. These 4 components can be treated separately but only when they are considered as a whole can they really generate the desired results.
The product strategy refers to the basic element that generates the whole marketing mix. The aspect related to the strategy of the product are: product development, new market tendencies, expanding or reducing the existent product line, quality, the degree of innovation and the services provided by a company after the product has been sold.
The price strategy is strictly related to the price level established for each product including: discounts, rebates, special deals, facilities, price/quality balance and terms for credits.
The placement strategy refers to the distribution channels that can provide the best level of efficiency. These strategies are responsible for bringing the products as closest to the final consumer as possible and they also take into consideration the role of the other members that are part of the distribution channels.
The promotion strategy goes hand in hand with all advertising aspects. This strategy is aimed at creating a positive image for every product of a certain company and it tried to influence the buying decision by perfectly combining the sales force, commercials and sales promotions.
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