Analysis of Marketing Strategies

Marketing
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Marketing
Analysis of marketing strategies involve asking the 5W1H question, when, what, who, which, where, and how. In order to get products or services into the market, these questions enable effective analysis of marketing strategies. Why denotes an objective or reasoning behind doing something either selling a product because there is a need in the market or the company has created the need. Well-defines objectives ensure that the company does not waste resources or time for selling or marketing a product or service.
When defines the accurate time for marketing and selling products or services. It can also show a situation, a deadline, or date. A time-bound strategy is cost effective. When there are no deadlines, there is no sense of urgency and every goal becomes achievable. Hence, every strategy and objective should be time bound.What define the products or services that need marketing or sale, or things involved. This enables creating and implementing a strategy that has cost, subject matter, and time. Who defines or shows the team mandated to sale products. It also includes partnerships with the company to increase marketing of products or services. To make a strategy using this criterion it involves an input- marketing tea, colleagues, stakeholders, and employers and an output-target audience.
Where denotes a direction in the process of development. It also denotes location. It shows the direction of marketing strategy to enable highest possible returns. A company differentiates a good strategy from a bad strategy by the ability to move in the right direction. How denotes the method for implementing or creating a strategy. These tools above can analyze a marketing strategy or help build one.
Marketing strategies include marketing mix before implementation of marketing plan. This marketing mix is a set of actions a company uses to promote its brand in the market.Marketing mix include the four Ps such as product, place, price, and promotion. Each of the components has a marketing tool. Products are goods and services companies offer to their customers. It provides quality, variety; it holds the brand name, offers services of the company, and the features it offers. They should offer a minimum performance level above other tools in the marketing mix. The price is the amount customers are willing to pay or purchase their products; it shows prices, allowances, payment, and credit terms.
The price also reflects and depends...