The Strategic Planning Marketing Process Essay

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The Strategic Planning Marketing Process An organization must use a strategic marketing process to distribute its marketing mix resources to reach its target markets. The elements of a proper marketing mix are price, product, place, and promotion. They are the four P’s of the marketing process (Goi, 2009) Good understanding of the marketing mix is important for an organization. When a company is developing a marketing plan, it must consider each element. Just as important is an understanding how to use the element in the marketing process. They must create a marketing plan, which incorporated all four elements. This is usually formalized in a marketing plan consists of three phases. These phases are planning, implementation and…show more content…
Next, they need sell it where that same group of buyers shops. Finally, they need to sell it at a price that the buyer feel they are getting good value at a time they want to buy the product. It sound simple, but it is challenging. It takes a lot of hard work find out what customers want, and identifying where they do their shopping. It is also difficult to figure out how to produce the product at a price they will pay, and have it all to come together at the particular time. Getting one the four P’s wrong could result in failure. A car company might end up trying to sell a fuel-efficient car at a time when fuel is very cheap; or publisher could end up promoting a new textbook long after class have started. They may be attempting to sell a product that is priced too high or too low for the customer they are targeting. Good place to start is to look at the marketing mix. The proper mix of the 4P’s is critical when they are thinking through the plans for a product or service. It can help avoid these kinds of mistakes. Customer Loyalty Building brand awareness and promotion, the fourth element, is an essential part of the mix and can help sustain sales revenue over the long-term. The benefits of building a brand are not always associated with profit. This promotion as a long-term strategy can be hard to do when trying to meet short-term results (Kyle, 2010). Branding activities Brand building activities and properly
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