Strategic marketing plan implementation
Implementing the strategic marketing plan is important in achieving success as desired by the business. For a strategic marketing plan to be efficiently implemented, two key concepts have to be taken into consideration. The two are strategic marketing mix and positioning. In this paper, the importance of the strategic marketing mix and the concept of positioning will be analyzed. Also, their effects in the strategic marketing plan implementation will be discussed. Additionally, the marketing mix allows a business to identify whether the product itself meets the needs of the consumers. Lastly, the marketing mix allows the business to evaluate the requirements of promoting the product effectively. Hence, it is the marketing mix that allows businesses to establish the appropriateness of the products they have to offer for their targeted customer base.
The marketing mix also has the importance of enabling businesses to evaluate customer needs. To retain customers, their needs must be satisfied on a regular basis by creating a relationship with the sellers (Sashi, 2012). It is the concept that businesses use to create an image for their product that can attract the intended customer base. The concept of positioning also uses the 4Ps used in the marketing mix. This concept is important for businesses because it helps in implementing the strategic marketing plan in an effective way. The three main importance is promoting advertisements, identifying the best locations to make sales, and setting up the best prices. The concept of positioning helps businesses to make advertisements that can help promote the businesses.
In addition, the concept of positioning enables businesses to come up with sales positions that help reach customers. For businesses to thrive, they need to select the right channels for reaching out to the customers through distribution. One way of achieving that is through working with other businesses in a multi-channel marketing strategy (Rosenbloom, 2007). The business should place its product or services in an area where customers can easily reach it. Essentially, the positioning concept allows businesses to put their products and services in ideal positions where they are close enough to the intended customers. First, the two concepts are effective in applying strategic monitoring. In the current market, research is an important aspect of coming up with best marketing strategies.
From $10 to earn access
Only on Studyloop