For a marketing action to be successful, we must follow the following basic steps to analyze, plan, implement and control our action.
It is important that you consider a person on your team with a strong strategic focus, a high capacity for data analysis, and if possible, a taste for ideas and proposals for improvement.
If you don’t have that person on your team yet, don’t worry, these are the 7 main factors of the marketing process:
- analyze market opportunities and how to explore them;
- conduct research into major defined markets;
- select strategies to reach potential customers;
- define the promotion tactics, place, product and price (4Ps);
- implement the actions established in the marketing plan;
- use and monitor established metrics.
In this article you can find more information about each of these points and how they influence the marketing process .
What is the marketing mix?
They are variables that dictate and influence russia telegram data the way in which marketing strategies should be carried out.
In the main theory, it is said that there are 4:
- price,
- square,
- product
- and promotion.
However, over the years of study, implementation and evolution of marketing, they have expanded to 8, 9 or more variables. For this occasion, we will address the 4 main ones:
Price
It refers to the monetary value when did the renault logo appear? that will be charged to the client for the product, service or idea that is provided, after a complete evaluation of the production costs and the profit margin. Likewise, the variable of price refers to the payment methods.
Square
This variable tells us about the find list distribution chain , that is, all the logistics and spaces that the product or service must travel through to reach the final consumer, such as, for example:
- suppliers,
- transport,
- storage until reaching the physical or virtual warehouse,
- point of sale,
- and finally, into the hands of the customer.
Product
This P is used to determine the characteristics, added values and life cycle of both the product and the services offered.
Promotion
Contrary to what many may think, promotion does not refer to offers or clearance prices, but to communication.
This is where advertising efforts and other strategies such as content marketing, among others, emerge, which make the message that needs to be conveyed known to the public.
Don’t forget to read our full article on The 4P’s of Marketing .
Now you understand how to create a marketing strategy step by step and learn about its main trends .
How to create a marketing strategy?
I’ve already talked to you about the marketing process in your company, but, taking marketing in a simpler way, have you thought about how to carry out a strategy that is part of that process? Whether you want to or not, I’m going to tell you what you should keep in mind.
Analyze the internal environment according to the 8 P’s of marketing
Marketing plans or marketing strategies need to have solid foundations and for this to be possible it is necessary to apply internal analysis that shows the reality of the company.
The 8 P’s of Digital Marketing allow us to know, in addition to the traditional variables, 4 more related to the online environment. These are:
- Product : considering the products and services that the company wants to promote.
- Price : focusing not only on the gross value of the item or service, but also including the added value of the brand.
- Point of sale : physical or digital location where customers purchase the product. Analyzing whether this location meets the geographic characteristics and interests of the public.
- Promotion : actions carried out to promote the brand, products or services. That is, the processes of communication with the audience.
- Persona : This involves analyzing the ideal client, focusing on their needs and pain points. Also, the best ways to reach them.
- Processes : Evaluate workflows, procedures and techniques to align them with company objectives.
- Presence : analyze everything related to the environment where the product or service will be promoted.
- Productivity : measuring the effectiveness or failure of the company’s strategies and plans in its market.
Be clear about who your ideal client is
It is the group of people that has the general characteristics of individuals who consume or could consume your product or service.
To define your ideal client it is necessary to know their:
- gender,
- age,
- location,
- educational training,
- social class,
- purchasing power,
- main consumer habits,
- inter alia.
This way, you will not only know who you will take your product to, but also how your campaigns will be carried out, the language that will be used when speaking to them, and the media in which your content will be published.
Do market research
To know the exact point where your company is positioned, it is necessary to carry out market research.
This analysis must be approached from an economic perspective and based on the projections of the business sector in which the company is located.
With this information in hand, the next step is to study the competition, specifically those brands that have more positioning and those with less relevance.
Addressing aspects such as:
- demography;
- behaviors;
- consumption patterns of ideal customers;
- psychological processes related to their consumption habits.
All of this allows us to focus on the client and define objectives and/or alignments that adapt to their conditions.