Every entrepreneur needs to implement a well-thought-out plan to keep a business constantly on the move. As such, such a strategy requires a high level of participation from customers. This means that prospects must be loyal to you for a long time. To do this, the company needs to use the 4 levers of operational marketing, which will allow you to better analyse all possible marketing strategies.
Product Policy
Product policy is where your marketing strategy should start. It is used to check the exact characteristics of all products and is especially valuable when sorting out the best offers to make to customers. As it is the product that is the centre of a business, this policy is the most important of all approaches. Indeed, the term product indicates many elements, those that are most useful in trade such as service and consumer objects, everything that is material or immaterial. Here are the characteristics to be examined on the product: content; functionality; quality; packaging; appearance (design); services related to the sale...
All these checks can be made based on your market research and the requirements of your customers.
Pricing Policy
Of course, the selling price must be carefully thought out. This is done in the knowledge of all constraints (internal and external). Internally, the constraints to be taken into account are the current and future market quota, income, profitability, and positioning (cheap, premium, etc.).
As for external constraints, you will face competition, the purchasing power of prospects, and costs (distribution, transport, etc.).
In pricing policy, there are also other criteria to be taken into account, such as sales conditions (payment times, etc.) and the differences between retail and wholesale prices.
Placement Policy and special offers
The placement or distribution policy involves the willingness of each entrepreneur to market their products. It is therefore essential to consider the different distribution channels, including online sales, deliveries to supermarkets, sales forces, stock management, etc. As for the communication or promotion policy, it is used to launch a product or service on the market. Do not think that this policy is easy to apply! The field of communication is quite extensive. It includes advertising; direct marketing (telemarketing...); and social networks...