The way of marketing strategy for every product are different, but the basic of marketing mix are the same. The old marketing mix are 4P's (product, price, place and promotion). The product must answered customer solution (needs), price indicate customer cost, promotion is how the communication and place is how the product availibity in the market.
the new of marketing including people, physical environment and process.
on the Prof Ujang's lecture, he said that price in the world can be said as tax, bill, tariff, fee, loyalty, premi, etc. this term are indicating price of procuct. marketing strategy on pricing also different, for every procuct lifecycle we must define pricing strategy to maximize profit. the price will impact to place strategy, and promotion.
Place strategy is how the procuct can be find by the customer, the distribution channel will influence this strategy. the place must suitable with segment market that they targeted. this is means that producent must know very well about the segment, how they buying something? how they hang out together? all about the customer behavior. so, the promotion strategy also consider this inputs. research on the segment must be doing before completing marketing strategy.
Research on marketing strategy including qualitative and quantitative. this is to measure the market potential and how to reach them. the more deep you know your customer the possibilities of winning the market will also increasing. beside that, we must also consider the market competitors. research on competitor and doing intelligence activities on competitor. we must have difference on our product to entry the market. that is the point of market posisioning. the way of our brand in the mind of our customer. if there are no difference between our product and the product comppetitors, the brand will not remembered by the customer.
so, if you are the marketers, consider traditional 4P's and also 7P's for service product. all of marketing activities are about this P's.
