MARKETING STRATEGY.

 MARKETING STRATEGY.

How you project your image, how you make yourself appear different from your competitors, is with your marketing strategy, or what professional marketers call the MARKETING MIX.

The marketing mix is the particular combination of marketing elements that a business uses to find and satisfy its customers; the marketing strategy, usually describe in terms of its product/service, price, distribution, and promotion elements.

Marketing mix and marketing strategy mean the same thing.

Over the years, a fairly standard method has evolved to explain a firm’s marketing mix, and this is probably the best way to describe it in your business plan. The marketing mix is typically broken down into the following elements:

• Product or service strategy.

• Pricing strategy.

• Distribution strategy.

• Promotion strategy.

The better you get to know your market, the more accurately you will be able to tailor your business to give customers what the want, what they really want, not the superficial or the impossible. Customers may seem to want the impossible:

• The lowest price.

• Highest quality.

• Best service.

• Best terms.

• Fastest delivery, but it can’t be done.

So you must develop a marketing strategy that will give the customers not everything, but those things that are most important to them.