By following the 4 P’s, you’re guaranteed to improve your marketing strategy:
What good or service will your business offer?
How is your product better than those offered by competitors?
Why will people want/buy your product?
How much can you charge for your product?
- How will your product or service be positioned in the marketplace?
What kind of advertising will you use?
Which sales channels will you use?
Which channels will economically reach your market?
In summary, the market strategy should specify key target buyer descriptions, market segments as options to compete in, the company’s unique positioning, and its products and how they are differentiated when compared to other competitors and industries.