How does the selection of your positioning statement impact the marketing mix strategy? Consider its influence on product, placement, price, and promotion.© BrainMass Inc. brainmass.com August 15, 2018, 4:27 pm ad1c9bdddf
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1. How does the selection of your positioning statement impact the marketing mix strategy? Consider its influence on product, placement, price, and promotion.
Briefly, the positioning statement (Step #2 below) acts as a blueprint for the marketing mix strategies (Step # 3 below). However, when discussing concepts and steps of the marketing plan, it is important to position them in context of the marketing plan to aid understanding of the overall process. For example, a complete, written marketing plan contains seven main components. The positioning statement is part of Step 2, which acts as a blueprint for the marketing strategies in Step 3, as we see below:
1. Market research and analysis is the process of gathering pertinent information about the potential market for your product(s) and/or service(s), evaluating strengths and weaknesses, and identifying a target audience.
2. Setting marketing and financial goals and objectives will help you focus and evaluate your marketing efforts.
3. Marketing mix describes the specific strategies you will implement to reach your target audience, entice the target ...
This solution describes how the selection of your positioning statement impacts the marketing mix strategy, considering its influence on product, placement, price, and promotion.