Hydrate Your Brand
Whether your small business has established new or exits since decades, finding the most effective marketing strategies is critical. That’s because small businesses don’t have the same budget and resources to execute their campaigns as larger scale companies.
At Antech we called it as “Hydrate Your Brand”, that means we are here providing solutions to small business to brand, promote, and grow their business like any large companies with limited budget and we provide them all resources and technology. Like any living being if we don’t Hydrate, we are moving toward end of our life where the same principle applies to Brand and Promotion. If there are no action taken to promote product and brand, it is very hard for any company to survive in this competitive market.
The 4 Ps of Marketing Mix
When it comes to marketing product, we focused on 4 Principle of Marketing.
- Product: Marketing campaigns starts with an understanding of the product itself. Who will be the customer? What will be the usage? What are the competitive advantage? What are the new features and enhancement to the product? The job of the marketer is to define the product and its qualities and introduce it to the consumer.
- Price: Price is the amount that consumers will be willing to pay for a product. Marketers must think of the price to the product’s real and perceived value with consideration of cost of good, discounts, retail markup, and competitors’ prices. In come cases business decision makers may raise the price of a product to give it the appearance of luxury or they may lower the price for average consumes to try it.
- Place: Place is the consideration of where the product should be available, in brick and mortar stores and online, and how it will be displayed. The decision is key: The term placement also refers to ADVERTISING the product in the right media to get the attention of consumers.
- Promotion: The goal of promotion is to communicate to consumers that they need this product and it is priced appropriately. Promotion encompasses advertising, public relations, and the overall media strategy for introducing a product. In the digital era, THE PLACE and PROMOTION factors are as much ONLINE as OFFLINE. Specifically, where a product appears on a company’s web page or social media, as well as which types of sears functions will trigger targeted ads for the product.
Product Life Cycle - PLC
The product life cycle is the process a product goes though from when it is first introduced into the market until it declines or is removed from the market. The life cycle has four stages.
- Introduction
- Growth
- Maturity
- Decline