Marketing Strategies
A marketing strategy is a plan for how a business will reach its targeted audience and achieve its marketing goals. The marketing strategy is outlined in the marketing plan.
Marketing Mix
[edit | edit source]The marketing mix is a combination of four elements: product, price, place, and promotion.
- Product is the goods or service that a business is offering.
- Price is the amount of money that customers pay for the product.
- Place is where the product is sold. This is either a physical store or online.
- Promotion is the way that a business communicates its product to potential customers. This includes advertising, public relations, and social media marketing.
Types of Marketing Strategies
[edit | edit source]Pay-per-click (PPC)
Email Marketing
Marketing Tactics
- Product differentiation: developing products that are unique and different from the competition.
- Cost leadership: involves becoming the lowest-cost producer of a product or service.
- Niche marketing: focusing on a specific market segment and developing products or services that are tailored to the needs of that segment.
- Brand positioning: creating a unique image for a brand in the mind of the consumer.