Information Keeda

MARKETING STRATEGY Description also available in video format (attached below), for better experience use your desktop. Introduction ·        A process of using the marketing mix to attract & satisfy the consumers for the profit of an organization ·        It is also a set of o    Objectives o    Policies o    & rules that guide over a time for marketing effort of the firm ·        A procedure used by the seller to achieve a marketing goal   Steps & Process of Marketing Strategy ·        Steps o    Understand the customer o    Analyze the market o    Analyze the competitor o    Research o    Distribution o    Define the marketing mix o    Financial mix o    Review & Implementation ·        Process o    Setting the objectives o    Designing o    Implementing o    Controlling   Types, Components & 4Ps of Marketing Strategy ·        Types o    Corporate Strategy o    Divisional Strategy o    Product Strategy

PRICING Description also available in video format (attached below), for better experience use your desktop. Introduction ·        A process of determining price at which a product is bought or sold ·        It helps to determine what a company will receive in exchange for its products ·        A aspect of financial modelling and is one of the four Ps of marketing mix   Characteristics & Objectives of Pricing ·        Characteristics o    Prices must cover costs and profits o    Must be established to assure sales o    Prices must assure that they §   Reflects the dynamics of cost §   Market demand §   Response to the competition §   Profit objectives ·        Objectives o    Maximize Profits o    Return On Investment o    Positioning o    Gain o    Maintain market share o    Maximize sales revenue o    Improve cash flow o    Build a brand   Determinants & Strategies of Pricing ·        Determinants o    Demand o    Suppl

MARKETING RESEARCH & INFORMATION Description also available in video format (attached below), for better experience use your desktop. Introduction ·        Market Research is the systematic o    Gathering o    Recording o    & Analyzing  of data about the problems relating to the marketing of goods & services ·        It gives you the data you need to select, identify & reach your target market at a price that is affordable by customers   Need & Purpose of Marketing Research ·        Need o    To undertake marketing effectively o    Technology changes o    Changes in customer taste o    Market demand o    Varieties of products of competitors o    Economic conditions change o    Distribution channels ·        Purpose o    To gain a more understanding of consumers need o    To reduce the risk of product failure o    To forecast the future trends o    To achieve commercial success o    To anticipate future customer needs