Marketing Strategy

Marketing strategy can be defined as the efficient steps a company could takes to accomplish their marketing objective and goals. Marketing strategies should set by focusing on customer needs instead of focusing more on the product needs and neglect their customer needs.

There were several theories that could use when develop marketing strategies that focus on customer needs.

Marketing Mix

Marketing mix is a theory that can be applied based on "4 Ps" which are divided into Product, Price, Promotion and Placement.

When a company decides what to produce, definitely they will research into lots of areas such as the product design, product features, and who are their competitors. When answering all these important questions, they should decide by giving importance on customer needs instead of looking for more profit. When designing the product, should focus more on the value of product, such as how innovative it is compare to the competitors, what are customer’s expectations, is the product can set a good standard and would it be a convincing brand in future and so on. There are many ways to gather all this useful information from the customers, for an example, companies can conduct interviews, surveys, questionnaires, sent out emails before launch any products.

The second factor is ‘Price’. Company should check their competitor market value (the price of their items), their customers purchasing power (is the product can be purchase by everyone) before set a price for a product. If company set a reasonable prices this level, it will create competitive advantage which enable the customers choose what they want and indirectly shaping their criteria of purchase.

Promotion is the third element. In this stage, companies will look for most effective way to launch their product to the consumers. Companies would seek for right media to collaborate in order to make the customers aware of their products. This is the most important element to attract customers....