Every brand needs a Marketing strategy. In order to develop a good one, experts recommend considering the traditional approach of a marketing mix based on the 4 Ps: Product, Pricing, Placement and Promotion:
-Product: The product or service to be marketed, considering demand, differentiation, packaging, logo etc.
-Pricing: The pricing of the product of service at the time of launch, should be determined through and clear pricing analysis.
-Placement: The space where the product or service will be made available. Such space should be relevant to the target audience.
-Promotion: Advertising strategy to be utilized to create awareness of the product.
On the Other hand, it’s important to see the Brand from the perspective of the market to create a complete and relevant plan. For that, it’s important to also consider the 4 Cs: Client, Cost, Convenience and Communication.
-Client: It is very important to understand the profile of the target audience.
-Cost: Buyers are interested in more than just the purchasing price. They want to know the cost of buying, using and disposing of a product or service.
-Convenience: The availability of the product and how easy is to gain access to it.
-Communication: It is very important for brands to develop a two-way communication with its consumers.
These tools coupled with the values of the brand, will allow the marketer to develop an effective strategy to influence its target audience and create product trial, develop loyalty and reach an emotional connection that lasts for a long time.