How Marketing Tactics are Approached in an Effective Marketing Strategy

What is a Marketing Tactic?

 Marketing tactics are the steps and procedures a company or organisation uses to fulfil its marketing strategy. Marketing tactics are a necessary step in your strategy to find creative and strategic actions to promote your product or service to the consumer and increase sales. For your marketing tactics to be effective and contribute to an overall successful marketing strategy, you must consider the '5 Ps' of marketing; Product, Price, Promotion, Place, and People.

Product: 

The product refers to what you provide to your customer, whether a product or service.
What is the product that you are trying to sell?
What is its purpose?
How does it differ from competitors?
Why does the consumer need it?

You must address the answers to all these questions regarding your product in a way that entices your consumer to want to purchase the product.

Price: 

How much will your product or service cost?
Will your intended consumer happily pay this price?
What is your competitor's price for their equivalent of this product or service?
Will you be making a profit at this price?

These are some of the questions you need to be asking yourself when considering where the price point for your product or service should be.

Promotion: 

How will your product or service be promoted to consumers?
Before developing marketing tactics for your product or service, you must understand how you will convince your audience that they need it and what mediums you will use to demonstrate this to them.

You must consider the product, price, place, and people.

Place: 

Where will your product or service be available?
Will it be in physical stores or online only?

You need to think about where your product or service will be open and why before you can develop marketing tactics to promote it.

People:

Who is your product's ideal consumer?
Who is your product for?
First, you must construct an in-depth analysis of your consumer and understand their demographics and psychographics.

By putting yourself into the mind of your product or service's ideal customer, you can understand their wants, needs, and purchasing behaviour and then begin planning on how you can fulfil the customer's needs. 

Using the 5 Ps for Your Marketing Tactics:

Considering the 5 Ps of your product or service, you will now be able to begin to develop marketing tactics that will assist you in attracting your target consumer to increase sales and gain an advantage over your competitors.

This will allow you to construct effective marketing tactics for your strategy that will align with fulfilling all of your consumer's needs.

An example of a marketing tactic is selecting a medium that will best promote your product or service.

With the 5 Ps in mind, what will you use to promote your product or service?

Endorsement or influencer posting may help you attract your desired audience, but it may also be out of your budget.

Paid advertising, such as billboards and Facebook ads, may be in your budget. However, they may not attract the consumers you intend.

Email marketing may be cost-efficient for you and reach your desired audience; however, it may not be able to best showcase your product/service and its features.

You must decide which mediums will work best for your product or service about the 5 Ps. 

Mediums

After selecting the mediums you will use to implement your strategy, you will need to identify how each medium will be used.

How will you utilise each medium to maximise its success with your target consumer?

What content will you publish to each medium, and how will it assist you in achieving your overall marketing strategy? 

Executing an effective marketing strategy:

To effectively execute marketing tactics within a marketing strategy, you must consider the 5 Ps of Product, Price, Promotion, Place, and People. 

By having an in-depth understanding of these 5 Ps about your product or service, you will have a much more precise idea of which tactics you should implement to ensure a successful marketing strategy. 

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