Any commercial proposal is formed taking into account many factors, some of which ultimately determine the marketing strategy for promoting the product. These factors can be conditionally grouped into two categories:
Internal
They influence processes in the company itself or are related to its corporate microclimate. This group includes:
product characteristics;
stages of product development throughout the life cycle;
availability of funds;
the goals and amazon database mission of the company.
External
Related to activities outside the firm. These include:
level of competition;
efficiency of selected channels;
characteristics of the target audience's purchasing behavior;
the presence of state control.
How to determine the composition of the marketing mix
The combination of marketing elements for a specific product is largely formed by the personal perception of the marketer. To develop a strategy, it is necessary to properly structure valuable information about the product. And this, in turn, requires a deep understanding of the promoted product or service by the manager. The specialist will show the highest efficiency if the marketing strategy meets the following requirements:
The product must be positioned correctly
Uniqueness in this activity presupposes the ability of the elements of the marketing strategy to complement each other. Moreover, this complex should not contradict the principles of the general positioning of the entire company.
It is necessary to maintain compliance with the target consumer profile
An effective marketing strategy is always based on a portrait of a potential buyer. If, for example, the target client is a fairly wealthy person, then the quality of the product should meet the expectations of such a subject. The properties of the product are also demonstrated by the price.
It is necessary to carefully examine all the resources available to the company.
This needs to be done first. Global plans with very limited resources may remain just dreams.
Harmony of marketing elements must be ensured
The product will start to stand out from the others when all marketing elements are fully synthesized. The slightest imbalance in internal processes can lead to fatal consequences in market conditions.
It is necessary to strive for advantages among competitors
It is important to constantly remember that there are competing companies. Competition is a good motivator for creating a truly unique product. And for this, it is necessary to take into account the strategies of other market players in the same field of activity. This information will serve as a basis for developing your own strategy, as well as for creating mechanisms to counteract competitors.
All organizational goals must be unified
This will allow the marketing strategy to be adjusted to achieve global goals. For example, a company's desire to bring a product to the world market will require an appropriate definition of pricing policy, human resources, promotion strategy, and product distribution method.
In general, the marketing mix of an enterprise allows for different combinations of elements of the chosen strategy. Even the basic variation of this concept contains a lot of useful ideas that help improve the key indicators of any business. It is important to consider all stages and all components of the marketing strategy, to maintain a systematic approach to the work, and to adjust it in a timely manner based on the analysis of the results obtained.