promotion and pricing strategies

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Your business’s primary target market is a specific group of consumers you want to attract to your product or service. … You may have several groups buying your products or using your service–for example, married women make up 53 percent of your customers; single women, 31 percent; and all men, 16 percent

Specify three methods you will use to research customer needs and wants..
.
Interviewing customers. …
Conducting voice of customer surveys. …
Analyzing your competition.
Describe the marketing mix a ,)product, b )pricing strategy,c) promotion and d)placement/ distribution.

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The marketing mix refers to the set of actions, or tactics, that a company uses to promote its brand or product in the market. The 4Ps make up a typical marketing mix – Price, Product, Promotion and Place. However, nowadays, the marketing mix increasingly includes several other Ps like Packaging, Positioning, People and even Politics as vital mix elements.

A product description is the marketing copy used to describe a product’s value proposition to potential customers. … It’s no wonder they are worried — the quality of a product description can make or break a sale, especially if it doesn’t include the information a shopper needs to make a purchase decision.

Pricing strategy

Price is the value that is put to a product or service and is the result of a complex set of calculations, research and understanding and risk taking ability. A pricing strategy takes into account segments, ability to pay, market conditions, competitor actions, trade margins and input costs, amongst others. It is targeted at the defined customers and against competitors.

Promotions refer to the entire set of activities, which communicate the product, brand or service to the user. The idea is to make people aware, attract and induce to buy the product, in preference over others. … Sales promotion is a part of the overall promotioneffort

placement
1 : an act or instance of placing: such as.
a : an accurately hit ball (as in tennis) that an opponent cannot return.
b : the assignment of a person to a suitable place (such as a job or a class in school

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