Think Tank Of Marketing Strategy.

According to my point of view ,before you market any kind or nature of product ,we basically need to understand and evaluate the needs and benefits of the specific product and then we need to figure out that either our product is going to create monoply or going to step into the competitions and challenging market and the more important ,the class/commuinity and volume of customers evaluation would also play the vital role to make the effective and efficient marketing strategy for the longterm expansion and development of the product selling strategy.

Designing a Customer Driven Marketing Strategy.

Customer driven marketing strategy begins with selecting which customers to serve and deciding on a value proposition that best serves the targeted customers.It consists of four steps.Market segmentation is the act of dividing a market into distinct groups of buyers with different needs ,characteristics ,or behaviours who might require separate products or marketing mixes.Once the groups have been identified , market targeting evaluates each market segment's attractivness and selects one or more segments to serve.Market targeting consit of designing strategies to built the right relationships with right customers.Differentiation involves actually differentiating the market offering to create superior customer value.Positioning consists of positioning the market offering in the minds of target customers.


Reference:
Principles of marketing

Price adjustment Strategies

Companies apply a variety of price adjustment strategies to account for differences in consumer segments and situations.One is discount and allowance pricing,whereby the company establishes cash,quantity,funtional,or seasonal discounts,or various types of alllowances.A second strategy is segmented pricing,where the company sells a product at two or more prices to accommodate different customers,product forms, locations,or times. sometimes companies consider more than economics in their pricing decisions,using psychological pricing to better communicate a product's intended position. In promotional pricing a company temporarily offers discounts and sell their products below list price as a special event,sometimes even selling below cost as a loss leader.Another approach is geographical pricing,whereby the company decides how to price to distant customers,choosing from such alternatives as zone pricing,basing point pricing and freight-absorption pricing.Finally,International pricing means that the company adjusts its price to meet different conditions and expectations in different world markets.


Reference:
principles of Marketing

Becoming a truly Market-centered organization

A competitive orientation is important in today's markets,but companies should not overdo their focus on competitors. Companies are more likely to be hurt by emerging consumer needs and new competitors than by existing competitors. Market-centered companies that balance consumer and competitor considerations are practicing a true market orientation.






Reference:
principles of marketing

Importance of Information

The marketing process starts with a complete understanding of the marketplace and customer needs and wants. Thus,the company needs sound information in order to produce superior value and satisfaction for customers.The company also requires information on competitors,resellers,and other actors and forces in the marketplace. Increasingly,marketers are viewing information not only as an input for making better decisions but also as an important strategic asset and marketing tool.



Reference:
principles of Marketing 12th edition

Sales Promotion

Sales promotion are short term incentives to encourage the purchase or sale of a product or service. sales promotion is one of the most common strategy used in Pakistan.This strategy is mostly used at the starting time of the business or at the introduction of a new product in order to capture attention of the consumers and to increase the sales volume.example of sales promotion is "buy one get one free".





Reference:
Principles of Marketing 12th edition