Developing a Marketing Mix Strategy to Enhance Market Reach for a Leading Infused Water Manufacturing Firm
The Marketing Mix Elements in a Marketing Mix Strategy
Marketing elements are set of tactical, controllable marketing tools used across organizations to produce the desired response from its target market. It forms the basis of a marketing plan and helps a company to influence the demand for its products and services. The four P’s of a successful marketing mix strategy include- Product, Place, Price, and Promotion.
The four P’s are also the key marketing mix elements that play a crucial role in improving marketing effectiveness. A marketing mix strategy is a marketing plan designed to meet an organization’s marketing goals by leveraging the value offered delivered to its customers. The marketing mix elements that form a marketing mix strategy are interrelated and when combined they aid in establishing a product’s position within the target market. As a result, a detailed assessment of the roles of your product, price, promotion, and place plays a vital role in your overall marketing approach.
The mix forms the basis for determining the marketing strategy that suits your business goals. In fact, it is the first step to the creation of an effective marketing plan. One may wonder what makes it essential? The reason is that your marketing decisions have an impact on your positioning, targeting, and segmentation decisions.
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