Marketing Strategy Steps, Here's Its Implementation!

In running a business, business people certainly need to think carefully about business planning. One form of planning that is important for businesses, in taking effective steps for the future, is strategy marketing or marketing.

Marketing strategy The right one will have a good impact on the business. For example, to determine the right target market for the business and maximize the allocation of company resources. In addition, marketing strategies can also help businesses compete with other businesses.

Therefore, it is important for business people to understand and implement marketing strategies, so that they can feel the benefits for the business. Here's the explanation.

What is Strategy Marketing?

Strategy marketing is a collection of actions or business steps that aim to introduce business products to the wider community, and make consumers carry out product purchasing activities to repeat their purchases.

According to experts Paul and Guiltinan, strategy marketing itself is a mindset used to develop a business or company. The step can be by uniting several marketing elements, such as market segmentation, mix marketing, position, target, and so on.

Five Elements of Marketing Strategy

There are five elements of strategy marketing what businesses need to know. The five elements are called 5P, which stands for Product, Price, Promotion, Place, and People. Here's the explanation.

• Product (Product)

In determining a marketing strategy, the first thing to consider is the business product. Starting from the quality, function, appearance to product packaging. Because, in general, the first thing that customers consider before a buyer is the benefits and advantages of the product.

• Price (Price)

The price of business products that match the quality of the product is one of the elements in the marketing strategy. The pricing can refer to the selling price of competitors' products in the market, discounts, payment methods, credit, and other services.

• Promotion (Promotion)

Marketing strategy is closely related to promotion. Promotion is all activities carried out so that the business can be known by many people. You can do this by taking advantage of relationships, sponsors and placing advertisements.

• The place (Place)

The next element of a marketing strategy that needs to be considered is place. Businesses need to consider a place of business that is affordable and easy to access for customers. In addition, it also needs to be adjusted to the business capital owned.

• Human Resources (People)

Finally, business people need to pay attention to human resources involved in business activities. Starting from the staff or employees, salespeople, and so on. Competent human resources can provide good service to customers, so that it can benefit the business.

Strategy Implementation Steps Marketing

Here are some examples of implementing marketing strategies that businesses can do.

• Apply Marketing Mix

Marketing mix or marketing mix It is a tactical and controllable marketing tool for the company. The purpose of implementing the marketing mix is ​​to achieve the desired target market. There are also elements of this marketing mix, including the 5Ps (Product, Price, Promotion, Place, and People) which has been described above.

• Understand the Target Market

Before marketing business products, strategic steps marketing What business people can do is to do research to get to know the targeted consumers. The goal is for business products to match the needs and characteristics of consumers.

• Upgrade Brand Awareness

brand awareness is the scale of consumer knowledge as a target market in recognizing business products. In building this brand awareness, business people can pay attention to several things that make consumers remember the business products offered. For example, from the name or logo brand, promotions on social media, websites, influencer marketing, and events.

• Free Product Strategy

Giving free products or often also called products sampling or free trial is a marketing strategy step by providing products in the form of goods or services to consumers, without charging any fees.

The goal is that consumers can directly try business products, which hopefully, consumers who have enjoyed the product will feel lost when the product runs out. So, you can try the business product again at a later date with full price purchase.

This is an explanation regarding the steps for implementing the strategy marketing for business, from understanding, important elements to examples of implementation. May be useful.