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An overview of the four key elements of marketing strategy: product strategy, price strategy, place strategy, and promotion strategy. Product strategy outlines the vision for a product and its target market. Price strategy determines how companies set prices for their offerings. Place strategy outlines how and where products will be distributed. Promotion strategy details how companies will market and advertise their products to potential customers. The promotional mix refers to the tools used to create, maintain, and increase demand for goods and services.
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Product Strategy Product strategy is the vision for your product, what you want it do be and achieve. This allows you to focus on your target market for your product and its future. Price Strategy Price Strategy Is the method companies use to price their products or services. They try and make their product the best it can be for the price range they are looking for their product to be at Place Strategy Place Strategy outlines how and where a company will put its products and services so it can gain the most attention Promotion Strategy Promotion Strategy is how a company decides they are going to market a product and get a customer to buy it. This can range anywhere from TV ads to paid celebrity promotions Promotional Mix Promotional mix refers to tools used by the business to create, maintain and increase the demand for goods and services