Marketng Mix Strategy

Dr. Ahmad Javed AskarzaiPhD Economics

Vienna University Austria

Deliver your products or services ina way that satsfes your

customers.

An efectve marketng strategy willhelp you to defne the overalldirecton and goals for your

marketng.

Your strategy should artculatehow you are going to deliver yourproducts or services in ways that

will satsfy your customers.

Once you have defned your customers or target

market, you need to startdeveloping and implementng

tactcs to reach them. Themarketng mix will make up thetactcal elements you will use to

carry out your strategy and reachyour target market.

Marketng mix tactcs

Identfy the tactcal acton stepswhich will turn your strategy into a

reality in your marketng plan,using the guide below. The seven

tactcs below are sometmesreferred to as the 7Ps because they

all start with the leter p.

1. Your product or service

What product or services are you going toofer? Discuss the branding, the packaging(where applicable), and ongoing productor development. You should consider the

features and benefts you ofer, yourunique selling points (What makes yourproduct/service diferent from everyone

else's) and what potental spin-ofproducts of services might be.

2. The pricing of your product or service

Price is a critcal part of your marketng mix.Choosing the right price for your products orservices will help you to maximise profts and

also build strong relatonships with yourcustomers. By pricing efectvely you will alsoavoid the serious fnancial consequences that

can occur if you price too low (not enoughproft) or too high (not enough sales).

3. Your positon (place) in the marketplace

Whether it's a retail store, online shop or onsocial media, 'place' refers to the channels andlocatons for distributng your product, relatedinformaton and support services. This is how

you will positon your product in themarketplace, it's the locaton where a product

can be purchased. Ofen referred to as thedistributon channel, this can include any

physical store (e.g supermarket) as well asvirtual stores (e.g eBay) online.

4. The promoton of your product of service

How do you promote and market your businessnow (or intend to)? Regardless of how good

your business is, if you don’t promote it and tellpeople you exist, it’s unlikely you will make

many sales. Promoton is about atractng theright people to use and reuse your business.There are a number of techniques to use and

they can be combined in various ways to createthe most cost efectve strategy for your needs.

This can include online, branding, publicrelatons and advertsing.

5. The people in your business(e.g. salespeople, staf)

If you have employees in your business,they can infuence the marketng of your

products and services. Knowledgeable andfriendly staf can contribute to creatng

satsfed customers, and can provide theunique selling experience that anorganisaton is ofen seeking. If an

outstanding team provides a compettveadvantage, then the quality of recruitment

and training becomes essental toachieving your marketng objectves.

6. The process represents the buying experience

Process represents the buying experience thecustomer gets when they buy your product or

service.

7. The physical environmentwhere the good/services are

presented

The physical environment where yourproducts or services are sold and deliveredcan have a signifcant impact on how your

customers' experience your business.

Thank you

• Questons?