businesses must learn how customers feel about their products before listing a selling price. So what is a good pricing strategy? A good pricing strategy must ensure both factors: consistent with perceived value, and sufficient to maintain profit margins (I.E. The business must be profitable). Each business will pursue a different pricing strategy depending on its brand positioning as well as its overall business plan. For example, while both sell wireless headphones, apple positions its brand as a high-end product manufacturer, while xiaomi positions its brand as a mid-range product manufacturer.
Therefore, not only wireless headphones
but all genuine products manufactured by apple, from iphone, ipad, macbook to accompanying accessories, are always sold at higher prices than xiaomi products, even though the quality of the headphones is the same. In addition to perceived value, the price of a product also depends on a number of other factors such as: – production costs; – supply and demand factors; – market liquidity; – seasonal discounts; – competitor prices. 3. Location place refers to the place of sale and method of distribution of products from the manufacturer to the consumer.
For this p variable marketers
need to consider the following factors: – where can consumers find your products? In physical stores or are you selling online only, or will you combine both? – if the product is sold in physical stores, what features will those stores include? – will you open your own chain of stores for distribution (direct distribution), or choose to use an intermediary distributor? 4. Sales promotion this p variable includes all the activities carried out by the business to attract.
There are 5 promotional tools in marketing
which are: – advertising: includes online advertising (zalo ads, facebook ads, google ads, tiktok ads, etc.) and off-line advertising (outdoor advertising, television advertising, etc.); – promotions: include forms such as discount vouchers, gifts, free trial products,… – direct marketing: includes email marketing, telemarketing, direct mail,… – personal sales; – public relations: businesses use the media to talk ios database about their products/brands. No matter how good your product is, if customers don’t know about its existence in the market, it will be difficult to sell it, let alone boost sales.
Therefore, before deciding to promote
a product marketers need to answer the following 3 important questions: – which of the above 5 promotional tools will you use to convey your marketing message to potential customers? – when will you start your promotion (2 months, 6 months or 1 year,…Before release) and why did advanced telegram marketing techniques for businesses you choose that time to advertise? – is your product seasonal? And if so, how does this affect your promotional program? The meaning of 4p in marketing 4p in marketing is one of the popular and extremely important theories that any marketer needs to understand.
Because it is the foundation
that helps marketers develop a comprehensive marketing strategy, focusing on 4 main factors that influence consumers’ purchasing intentions, which are: product buy lead quality, price, distribution method and sales promotion activities. A successful marketing mix plan begins with creating a product or service that is useful and satisfies customers. Therefore, when pursuing a marketing mix strategy, right from the first stage, businesses must conduct market research to grasp.