MARKETING

Brands in the Market spend a lot and tons of Money on Marketing and making efficient Strategies just to make a statement from the products they are selling.

The Best Example we can relate to is Amul Ad's over the internet as well as normal Bill Boards. We have seen them with most unique and amazing characters with a different concept from the real life events in the world in appealing with the market to cater their products use in day to day life. This is one of the handful companies in the society that we see that we are so use to that if one goes to eat Paav Bhaji and is given a option of Amul Butter Paav Bhaji and a normal one. So if there is butter it is only form Amul that will be used. They have made a Brand Statement for the public of INDIA.

The Companies spend to an extent of almost 40% of their revenues in Marketing Costs. Brand image is an important factor for a company to grow in the market like India. A Brand trust and a famous brand is determined by the reach and mouth publicity of their name and products. Any company which comes into the market as retail business has to follow a set of rules to make their product be successful.

We as a Brand in the Market making a presence make it in a way that we push our product to the Consumers through different mediums of them understanding the product knowledge. When a product is to be pushed through the sales channel and marketing channel a lot of efforts are taken to prove to the market that we are selling the best product with the need of the hour for what is required with the advancement of technology.

Push Products:

• Rigorous Marketing is required. Both ATL and BTL.
• Testimonials of your existing customers which makes a brand stronger.
• Presence of your products for consumers when making a choice.
• Building Trust for the consumers.
• Apart from all this the Most important is Service (After Sales Service) We live in Demography and the Industry We Alta is in describes as a service Industry. So have to be a customer centric Industry.
• Strong Customer Pitches.
• Free Samples.
• Consumer Understanding and education.
• And Most Important The Quality of the product should be the Best which is Considered.

To Bring out any product in the market or to launch any new idea or concept there are many factors which definitely have to considered, Which is generally termed as the 5 p's, Price, Place, People, Promotion, and Product. Have to go through each parameter to give the best possible marketing strategies. And I feel another sector apart from these 5 P's should be considered is psychological thinking of People and how they keep up with trends. I feel this is one of the most import part in the People Section which should be considered. Which could also be named as Physical Evidence.

PRODUCT/SERVICE

The product or service element refers to what you are offering as a whole to your customers. Product decisions include functionality, branding, packaging, service, quality, appearance and warranty terms.

When thinking about your product consider the key features, benefits, and the needs and wants of customers. For example, if you are a food manufacturer you may decide to add some new flavors to extend your range.

PRICE

The price element refers to the way you set prices for your products or services. It should include?all the parts that make up your overall cost, including the advertised price, any discounts, sales, credit terms or other payment arrangements.

Your pricing will also depend on your?businesses position in the market, for example, if you advertise your business as a budget car rental service, your pricing should reflect that choice. Or if you are a premium food product then your price should be at a premium to lesser quality products to reflect the better packaging and quality of ingredients you offer.

PROMOTION

Promotion refers to all the activities and methods you use to promote your products/services to your target market. It includes sales, public relations, direct marketing, advertising, sponsorship and social media.

Since promotion costs can be substantial, it is sensible to conduct a?return on investment analysis (ROI) when making promotion decisions. Firstly, you need to establish who your target market is, what media do they consume, what the cost of that media will be, how many more sales you need to cover your investment and how you will gather the information that shows how the promotion has worked.

PLACE

The place element refers to how you get your product or service to your customers at the right time, at the right place, and in the right quantity. It includes distribution channels (e.g. via a shopfront, online or a distributor), location, logistics, service levels and market coverage.

For example, if you’re thinking of expanding your business online, you’ll need to think about how your customers use the internet, if they would feel comfortable purchasing your goods online and if they would be willing to pay shipping costs for your products.

If you’re looking to grow your business, you might consider changing or expanding the way you sell your products and services. For example, if you’re a homewares distributor, you might think about setting up a new store in a different location or offering franchises.

PEOPLE

The people element refers to your customers, yourself and your staff. You need to consider both your staff and customers if you’re thinking of growing your business. It includes understanding what your customers’ needs and wants are, setting targets and measuring your customer service levels so that you attract and keep loyal customers.

You’ll also need to consider staff training so they have the skills to offer the best experience and meet customer expectations.

So always Consider These points when thinking on launching new Product or and Idea Concept. It is very important what we have started should be given justice by helping or reaching the vision associated with the Product or the company we have formed, so be ready will all aspects before running the race, be prepared GET SET and GO.