Preface
When developing a marketing strategy, a company must consider the “4 P’s” – product, price, promotion, and investment. How they approach the promotional strategy, their pricing strategy, and their distribution strategy can all have a major impact in the beginning. during the life cycle of the products. Most organizations aim to initiate a chain of events leading to the fastest rise in consumer demand for products .
Promotional Strategy
An organization’s promotional plan should inform their target audience of its existence and availability. Based on the various target audiences, they will have to do it in a few ways. Televisions, radios, magazines, coupons, etc. they can all use the product to push through the beginning of its life cycle. Businesses would need to place their advertising on channels and stations that target both young and middle-aged adults marketing efforts directly to promote done to convince sellers that the work is done. . They can carry out personal sell and direct mailings for the execution of push plans. It would be most prudent for him to concentrate on the execution of both plans. Promotion, n.d.
Pricing Strategy
An organization’s strategy should start at pay their bill within ten days versus net 30 days then they can increase their income faster .
Distribution of Empire
A business’ distribution strategy includes supplying products to farmers, who can then supply the product to larger retailers, directly to retailers. an online business store and street catalog. They should make it easy for their sellers and retailers to open on their site, enter their unique ID and place their orders for more products. They should seek to establish strategic partnerships with local, regional, and perhaps even national businesses. (Council, n.d.)
Conclusion
In the company’s promotion plan, they should pay attention to implement both the pull and push plan. They need this help faster. Their pricing system should aim to outrun their competition, offer promotions and bulk quantity discounts, and try to drive the customer as quickly as possible. Their purpose in the distribution plan should be to make it easy for their clients and customers to place orders, to build long-term strategic partnerships, and to ensure that the supply systems are in place with which orders can be fulfilled.
References
Pricing strategy. (2007) Retrieved January 29, 2009, from http://www.netmba.com/marketing/pricing/
Promotion plans. Retrieved January 29, 2009, from http://www.learnmarketing.net/promotion.htm
On the plan and execution in summary. Gourmet food store design. Retrieved January 29, 2009, from
