Promotion and pricing strategies for Customers

Promotion and Pricing Strategies
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For a business to be successful, various things require to be addressed. An entrepreneur must identify the needs of the customers in a particular market. The business should also ensure that the products, prices of products, and location are convenient for the consumer. MoveUp has created a plan to identify and satisfy customer needs and an advertisement plan and budget to run the business successfully.
Identifying Customer Needs
There will be various strategies for identifying the needs of the customers. MoveUp will go through any existing data on what customers usually want (Sauro, n.d). This will involve perusing previous surveys on the demand of books online to identify which books are most demanded (Sauro, n.d). This method will also help reduce the costs that would have been used on researching the same material and provide a pivot to start working on.
The business will also conduct online and physical interviews for the customers and other shareholders. Potential customers will be questioned on the business’s online platforms to identify what customers would want and other feedback such as the problems they face when they access other online book stores (Sauro, n.d). The information will be recorded to identify preliminary requirements (Sauro, n.d). This feedback will help provide solutions to existing problems in the business and, at the same time, provide better customer experience.
There will be an analysis of the direct competition. This will include thorough research on the strengths and weaknesses of any other existing similar businesses. Once the strengths are identified, the business can try to bypass or copy these companies' practices that give them that particular advantage (Sauro, n.d). The business will also try to capitalize on these businesses' weaknesses by improving services delivered to customers (Sauro, n.d). This will increase utility and customer satisfaction.
Focus groups will be used to point out the various needs of the customers. A focus group is a group of people specifically chosen to review and analyze a particular product or topic (Sauro, n.d). Qualitative and quantitative surveys will be conducted within the groups. The samples in the form of opinions will be collected to help determine and analyze the ultimate customer needs (Sauro, n.d). Questions on the prices of goods and the most appealing products will be asked, and the answers will be recorded and analyzed.
Marketing Mix
The Product
The definition of a product is the service or good that the business offers. The product is provided by the business to satisfy customer needs (Senior Secondary, n.d). MoveUp will provide a variety of books on its online website. Customers who need to access the books will log in to the website and search for the specific book they require. Moveup will also provide access to research materials such as journals, periodicals, articles, and magazines to scholars and researchers. All these materials will be accessed by the help of a search button on the website.
Price
The price of a product or service is the amount required by the seller to provide it to the buyer. ...