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Marketing Strategy

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Marketing is the process of planning and executing the conception, pricing, promotion, and distribution of goods.  A marketing strategy is composed of several interrelated components called the marketing mix.  The Marketing mix consists of data to a series of product and customer related matters.

  • The segments of customers
  • Products  to  be designed for the selected customers
  • Product features uniquely targeting this market
  • Packaging of l the products

Pricing is a quantitative expression of the value of the product to the customer.

Pricing should be designed like a feature consistent with the use of the product.

  • Price of the product
  • Payment method                    
  • Channel –  direct, wholesale or retail channels best moves and delivers the product and its benefits to the selected market.
  • The message that states the purpose and benefits of the product in the market and how it competes
  • Direct,   indirect or through others
  • Product, showing customers  how it can be useful, and persuading them to buy

The actual selling process breaks down into two components called the decision making unit (DMU) and the decision making process (DMP). The DMU) consists of all of the people who will play a role in the decision to purchase a product. The marketing mix program must understand the needs of each of these individuals and find a way to communicate the marketing message to each of them.  These people are typically identified as:

Buyer – the person who actually pays.

Decider – the person or group that actually says this is the product we want.

Influencer – who helps the decider decide – example the press. 

The people included in the decision making unit (DMU) interact to make the purchasing decision. The (DMP) is a description of this interaction.  By understanding this process a salesperson can best understand who, how, and when to work on getting the customer order.

Organizational Priorities

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Personal development includes activities that improve identity, develop talents and potential  of an individual.  It  facilitates employability, enhance quality of life and contribute to the realization of dreams, goals  and aspirations. The concept is not limited to self-help but includes formal and informal activities for developing  colleagues. As personal development takes place in the context of  organizations it refers to the methods, tools, techniques, and assessment systems that support human development at the individual level in organizations. Personal development planning ensures that  we  receive recognition for our  work through a process which acknowledges our  achievements and provides  us  with as much information as possible about what we  do and what is required to do it better. This should have the effect of increasing our  motivation. For example, providing positive comments about employees’ work, acknowledging their contributions at meetings and allowing them to undertake more challenging and responsible tasks are ways of recognizing and endorsing employees’ work on a normal basis. It is very important to remember that personal development plans are not static documents. For example, they may need to be altered from time to time to reflect changes in key responsibilities which may occur in response to changing organizational priorities and personal priorities.