Learn more about strategy with this collection
Conducting market research
Analyzing data to make informed decisions
Developing a product roadmap
Place: reaching customers
- Your product needs to be able to reach your customers, so you need to think about how it will get to them.
- You also need to think about how they will find out about your product and where they will look for it when they want to buy it.
- There might be some things that make it hard for your product to reach your customers or for them to find it, so you need to think about how to overcome those obstacles.
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MORE IDEAS ON THIS
Using the marketing mix
The Four Ps are a framework that businesses use to improve their products.
Marketing strategy must be coordinated across all aspects of the business, requiring marketing to be embedded into everything from product design to strategic direction.
In order to develop the right products a...
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Product: designing the products that customers want
- A product is something that someone wants or needs.
- A company designs products to meet these needs and wants.
- To design a good product, a company needs to understand the people who will use it, what they need and want the product for, and how they will use it.
- The com...
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Promotion: making people aware of the product and enticing them to buy
- To do this, businesses need to figure out when and how to appeal to potential customers.
- They also need to know what type of promotion or incentive will work best to get people to buy their product.
- To create a successful advertising campaign, businesses need to understand th...
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Overview
When it comes to marketing, there is no one-size-fits-all solution. The most successful businesses tailor their marketing mix to their specific products and target audiences. The marketing mix consists of four key elements: product, price, place, and promotion. By careful...
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Takeaway
- A marketing mix is a tool that can be used to help create a marketing plan.
- The marketing mix includes the 4Ps: product, price, place, and promotion.
- Each of these elements can be used to help create a successful marketing plan.
- By carefully considering each of the 4P...
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Price: setting the right price
- The right price is the one that meets the needs of the customer while also making a profit for the company.
- To find the right price, companies consider how much the customer is willing to pay, what prices competitors are charging, and how demand will change at different prices.
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CURATED FROM
IDEAS CURATED BY
The marketing mix is a combination of elements that influence a company's marketing strategy. It includes aspects such as product, price, place, promotion, and people. The marketing mix is also known as the 4Ps.
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Questions to keep in mind
- Do you bring your customers more gain or less pain? Ask them.
- What emotional values can you help your customer reach? Ask them what they feel when they first discovered it, when they started using it, and how they feel about it now.
- How can your customers jus...
Unlearning with customers
- Companies have two customers: the people you sell to and your employees.
- Direct, raw, unfiltered feedback from customers is much better than reports from within the company.
- When customers reach out, and they know they're heard and that their feedback will improve the product...
Don’t Really Know Their Customers
Understanding your client's real needs are essential for a long-lasting relationship.
To help get to know your clients, consider the following questions:
- What problems do our clients need to solve?
- Why should they choose us?
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