Practical Strategies: Setting Up a Marketing Mix

[nrumohammad0]

Now that you have assessed the current situation, let's move on to developing an effective strategy. Let's look at all the elements of the "4P" step by step.
Element 1: Product
Step 1: Determine the target audience and its needs.
Create a profile of your ideal client (age, income, interests). Use the tools:
Polls.
Social media analysis.
Sales analytics.
Step 2: Assess competitiveness.
Analyze:
What competitors offer.
Why customers choose them.
Step 3: Improve the product.
Add unique features or improve quality.
Develop new packaging that meets the expectations of slovenia consumer mobile number list the target audience.
Example: A tea manufacturer increased sales by adding biodegradable packaging, which was especially popular with an eco-conscious audience.
Element 2: Price
Step 1: Set the optimal price.
Use value pricing: Estimate how much the customer is willing to pay for the product.
Test different prices.
Step 2: Implement price promotions.
Use differentiated pricing (discounts for new customers, premium packages).
Offer bundles of products at a reduced price.
Element 3: Place
Step 1: Select the right channels.