"Marketing is everything you do to promote your business, from the moment you understand it to the point at which customers buy and began to support your business on a regular basis.".
In order to achieve marketing objectives you need to have a strategy that includes different elements the various parts of the marketing mix. The marketing mix is the blend of "tools" that your organization will use to achieve its objectives with particular target market. The tools, popularity known as "The Four Ps," include product, price, place (distribution), and promotion. The tools of the marketing mix are interdependent and must be balanced. For example, your price depends on your product and affects the promotional options available to you. .
The four P's describe the basic marketing decisions that need to be taken in order to produce a coherent marketing strategy. To be successful the elements of the marketing mix need to complement each other or must be integrated so that they work with, not against, one another. The following are the Four P's of the marketing mix:.
1. Product: Defining the characteristics of your product or service to meet the customer's needs. What you are trying to sell to the customer. An organization needs to have an in depth understanding about what it is they are marketing. Development of the product's size, quality, design, brand name. Packaging are important when trying to match with customer's needs and wants. An organization should explain how their product's features benefit the customer.
2. Price: Deciding on a pricing strategy. Even if you decide not to charge for a service, it is useful to realize that this is still a pricing strategy. Identifying the total cost to the user is a part of the price element. What is the highest amount that the customer will pay for the product or service? Many times setting the incorrect price level is the beginning of the end for an organization.