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The marketing mix, which outlines the specifics of the product and how it will be sold, including the channels that will be used to advertise the product, [7] [8] is affected by the environment surrounding the product, [9] the results of marketing research and market research, [10] [11] and the characteristics of the product's target market. [12]
Marketing communications include advertising, promotions, sales of products, Branding , advertising campaign, events, and online promotions. [3] The process allows the public to know or understand a brand and get a clear idea of what the brand has to offer.
An equally important component of the retail trade is the retail function that play crucial roles. These include research of products, implementation of storage, setting of pricing policy, arrangements of products and its selection for the creation of different merchandise assortments, exploration of the condition prevailing in the market. [10]
In particular, the 7 Cs inclusion of consumers in the marketing mix is criticized, since they are a target of marketing, while the other elements of the marketing mix are tactics. The 7 Cs also include numerous strategies for product development, distribution, and pricing, while assuming that consumers want two-way communications with companies.
Product marketing managers can also be involved in defining and sizing target markets. They collaborate with other stakeholders including business development, sales, and technical functions such as product management and engineering. Other critical responsibilities include positioning and sales enablement. [1]
Marketing strategy refers to efforts undertaken by an organization to increase its sales and achieve competitive advantage. [1] In other words, it is the method of advertising a company's products to the public through an established plan through the meticulous planning and organization of ideas, data, and information.
The functions of total marketing include advertising, personal selling, packaging, pricing, channeling and warehousing. Borden also identified the market forces affecting marketing mix: Consumer buying behavior; Trade's behavior (wholesale and retailing)
The purpose of a promotion and thus its promotional plan can have a wide range, including: sales increases, new product acceptance, creation of brand equity, positioning, competitive retaliations or creation of a corporate image. [2] The term 'promotion' tends to be used internally by the marketing function.
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