Marketing Research – Four Ps Of Marketing Strategy

Marketing is basically the act of deliberately stimulating demand for and sales of products and services; including wide range of choice of an intended target market; identification of certain characteristics or themes to which consumers will respond; and creating the atmosphere and motivation for people to buy. Marketer create awareness about a product or service by engaging in activities that are likely to result in attracting prospective customers. The techniques used may include advertising or promotional activities, conferences, trade shows, and public relations campaigns.

There are fourPs that make marketing effective; these are effectiveness, recognition, proximity, and price. Marketing should be capable of bringing out desired effects; it should be able to bring about changes in behavior of consumers, and it should make them believe that a particular product or service has greater value. To achieve effectiveness, marketing should be well planned, its effect should be evident, and it should be capable of influencing behavior. Moreover, the marketing agency should have planned activities such as advertising, sales promotion, and public relations that are likely to influence buying decisions of consumers.

Moreover, a marketing strategy is required to be able to influence purchasing decisions of consumers. It should include an evaluation of marketing efforts that are likely to lead to changes in behavior of consumers, including how successful the marketing efforts are in affecting response of customers to the marketing activities. In addition, a marketing research should be conducted to determine the extent to which marketing techniques are able to affect the growth of a firm in terms of sales and profits. A marketing research should also indicate the extent to which marketing activities are able to improve profitability, customer satisfaction, and customer loyalty.