Marketing is implemented through a marketing plan, which starts with the setting of objectives. These will support the overall aims of the business. Next, a company local business listing software needs to decide how the objectives will be achieved - the strategy. Marketing Strategy is 'The set of objectives which an organisation allocates to its marketing function in order to support the overall corporate strategy, together with the broad methods chosen to achieve these objectives.
The strategy takes into account any research, product or service development, how the product or service will reach the market (channels) and how the customers will find out (communication). It will also attempt to define a unique positioning for the product or business to differentiate from competitors.
The strategy is implemented through the Marketing Mix. This traditionally includes the four Ps:
Product (or service): getting the product right is essential. Product development and management involve design, testing with potential customers and product launching.
Price: pricing must be in line with how customers value your product or business promotion service.
Place: getting distribution right means fulfilling customer expectations at the right profit margin.
Promotion: communicating with customers includes corporate identity, branding, advertising, public relations (PR), direct marketing, sales business promotion products promotion or merchandising, sales and exhibitions.
As the service economy has opened up, three further P's have been added:
Physical Evidence: service sector 'products' are intangible (e.g. qualifications), so presentation of the physical evidence is vital to the brand identity (e.g. certificate, graduation ceremony).
People: understanding customers by researching their personal, cultural, social and psychological profiles is essential in order to meet their needs.
Process: how a service is delivered communicates the brand identity. For example, providing tutorials and study resources via the Internet shows the brand to be leading edge, immediate and practical.
Marketing is a professional discipline, like an engineer or electrician you go to school and learn. It has strategies, tactical choices, you segment your market, you look at demographics, motivations, sales channels, product development, customer loyalty.