Thursday, November 29, 2012

Designing a Marketing Strategy

There are four major steps to follow when it comes to designing a marketing strategy that is customer driven. The four steps are segmentation, targeting, differentiation and positioning. The first thing to be done is to target exactly what kind of strategy is to be used. All of the variables have to be determined and evaluated and then the decision of what variables will be used. One of the variables to consider is the geographic such as the location and climate. People are a major part because they are the target for buying the products. Everything that is concerned with a person from their lifestyle to their personalities is a factor to include. The product has to be accessible and is fulfilling the needs and wants of the customer. Marketers have to make sure that the product is in a good position to be competitive with other products that are available for maximum results. The advantages are combined in either a more for more, more for less, or any other combination to make sure the product stands out. A product is defined as something of necessity or just something that we want but not really need.
A consumer product has to fit exactly as what the consumer would want to buy. A product has to be convenient as well as still being affordable for the user. Shopping is a factor in being that making sure the consumer is willing to compare different products to each in the decision process in finding which one to buy. Another thing is making sure the product is one of a kind so that the buyer is willing to spend a certain amount of money on a particular item. Shoppers can also be impulse buying and just pick up things because they see them in the store whether these are things that the need or not. A brand is a way of making sure that your product stands out from the rest. I know that as a consumer I usually go for something because of the brand’s name as I know certain brands hold a higher quality of their products than others. Branding a product helps the buyers and the sellers because if you have a great brand the buyers will buy your product off of the name alone and the same goes for selling a brand it will sale itself. There is a lot to consider in branding a product such as the name, if it is distinctive or if you are able to trademark so that no other company may use it. A brand doesn’t have to be one dimensional you can have several names under a certain brand or the brand may be able to do more than one particular thing.

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