The order in which the elements of the "four R's" complex are listed establishes their importance and sequence of implementation as marketing functions. First, you need to select a product and set its price, and then deal with the problems of its delivery and advertising.
Product policy
This tool is aimed at solving issues related to the optimization of the structure of manufactured products, for example, determining the stage of the product life cycle. In addition, product policy deals active telegram number data with the problems of developing new products and the possibility of introducing them to the market. The product policy service also deals with issues of quality assurance, competitiveness of the product and optimization of market mechanisms for selling goods on the market.
Read also!
Types of Marketing: Choosing the Right One
Types of Marketing: Choosing the Right One
Sales policy
This branch deals with the definition of channels of distribution of goods. This means the formation of a stable distribution network that will ensure effective sales. This service also includes the creation of optimal logistics routes, the creation of an in-house distribution network, as well as the improvement of sales related to the movement of goods.
Pricing policy
The mechanisms for implementing the pricing policy represent the company's flexibility in relation to the previously established cost of the product. This is manifested in maintaining an optimal price level, an adequate response to changes in market conditions and competitors' pricing policies, the timeliness of decisions made regarding the cost of the product, and also takes into account the time factor for price formation at various stages of the product's life cycle.
Promotion Policy
This area of marketing represents measures aimed at informing the consumer about the product, as well as regularly reminding about it. It is the promotion policy that serves as the basis for creating mechanisms for the sale of goods, such as advertising, sales promotion, direct sales and other methods mentioned above.
The instruments of this direction can be divided into three groups: classical, modern, and developing.
The first tool represents obvious types of advertising. This can be advertising on radio and television, in the press and other similar types. The second group includes contextual, banner and teaser advertising and, in accordance with modern trends, SEO promotion technologies. The third group of tools is represented by video advertising, mobile advertising, SMM marketing and web analytics.
Promotion Policy
Promotion Policy
In addition to the basic set of marketing tools, there are also its extended variations ("5P", "7P", etc.). They add additional aspects to the basic list. These are the physical environment, people, process.
Does your social media management leave much to be desired? Do you want to become a real guru in SMM? Our course will help you master all the secrets of creating and promoting content, analyzing efficiency and interacting with the audience. Become a sought-after specialist in the field of SMM and open the doors to career growth.
The physical environment allows us to identify the conditions that will lead to the most effective sale of the company's goods and services. Its components include gifts accompanying the purchase of the product, the materials from which it is made, equipment, etc.
The marketing tool called "people" allows you to identify and most effectively use those who are directly related to the purchase of the product. This includes both the company's staff and the consumers of the product.
The process element demonstrates how the buyer selects and purchases a product. Service standards, service modification, standardization of their provision processes, and timely expansion of the product range are important for this tool.
