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  • Essay / Marketing Strategies - 1520

    Price, product, location and promotion, the four Ps of marketing, are fundamental to successful marketing communications. One of its goals is to establish and strengthen relationships with customers, retailers and others to whom the company markets its products. But the main goal is to reach a target market and influence their behavior by informing, convincing and reminding. They need to reach new consumers and persuade them to buy their product, while retaining their current customers. But no matter how good the promotion, it can never replace quality, extremely high prices or inadequate retail distribution. (http://www.referenceforbusiness.com/management/Log-Mar/Marketing-Communication.html) An understanding of the company's mission, distinguishing the company's strengths and understanding the target market are integral of developing a company's business plan. By doing these three things, a business can create a successful business plan. (http://media.wiley.com/product_data/excerpt/48/04713472/0471347248.pdf)A company's mission defines the company. This involves understanding the company's industry and identifying the target market and company values. A company without a well-developed mission may miss opportunities and lack real knowledge. (http://media.wiley.com/product_data/excerpt/48/04713472/0471347248.pdf)Core competencies, determining the company's strengths, help formulate the company's long-term plan. In a competitive market, to be successful, a company's core strengths must have importance in their market. Highly successful businesses have a business plan that maximizes the company's core competencies. A company's non-core businesses compete... middle of paper...... vertized and sold online. Marketing products online requires a great product, an amazing marketing strategy, and a website to sell the item. For such a plan to be successful, there must be a short and long term plan. The short-term plan is to get as many people as possible to view your site and product. This may include advertising in search engines and other sites and participation in online forums. A long-term plan will have a consistent number of consumers visiting the company's website for years. Some marketing strategies may include offering freebies, building an email list of existing customers, and joining a social networking site. By producing and implementing short-term and long-term strategies, a significant percentage of your target market can visit a company's website and it can be successful. (http://www.web-source.net/3steps.htm)