What is strategic marketing? Explain with the help of a case study.
Strategic marketing refers to designing marketing plans according to needs and demands of customer. It helps an organization to achieve their goals with more consumer satisfaction. Apart from all this it also improved performance of company which results in increasing profits. In his report, the entire case is based on marketing consultancy business Total Marketing Solutions Ltd. It was found in 2004 for providing high quality marketing plans to their customer which can help them to improve their organizational performance (Aboutus. 2016).
The report highlights principles of strategic marketing under which plans and ideas are developed. Apart from this, a detailed explanation of role of strategic marketing and its relationship with corporate strategy is elaborated which helps in assessing its use in developing marketing plans. In addition to this, analysis of external and internal environmental are evaluated which affects decision making capacity of managers. Other than this, the report explains a range of strategies which helps to manage competitive advantage within the organization. Apart from this various plans are highlighted in the report through which marketing strategies are implemented on an organization.
Marketing strategy refers to the development of fundamental goals through which it can be possible to increase the sales of company and achieve competitive advantage in the market place. It deals with all short term and long term goals of company in the field of achieving its target within market place.
Role of marketing strategy:
Developing marketing plans: Marketing plans gives an idea to accomplish the task effectively. Apart from this, starting a work with planning that will give better results than doing it without any specific plan. It includes identifying marketing tools through which the customers are targeted and also analyse sources of advertisement which help customer to know about the features of services or product (West, Ford and Ibrahim, 2015). Total Marketing solutions should develop marketing plans that will help them to make good strategic marketing plans.
Developing financial goals: Financial goals can be anything, it may be related to budgets or earning profits. Specific plans are developed to control their cost of introducing services or product which will results in getting more profit within the predetermined time period (Mena and Chabowski, 2015.).
Forecasting: Apart from this, strategic marketing helps to forecast needs and demands of costumer which helps in developing marketing plan accordingly. It has the tools and techniques through which proper analyses is done to identify all the future conditions of market. Finance department helps to find needs of funds for creating budgets while human resource management looks go forecast sales to make appropriate plans for employees (Kortmann, 2015).
Use of resources and implementation: Marketing strategy also helps the organization to use their resources in an efficient way so that it will be easy for TMS to use their major resources as the strengths of business. At the time of implementation, it is easier for the organization to implement the strategies easily with the help of resources.
Monitoring and control: Developing marketing strategy also helps to monitor and control the business activities through which it will be easy to watch the progress of company in the organization.
Strategic marketing planning is effective for the business in order to provide it with the different concept of business model. The different concept is effective for Total Marketing Solution Ltd, in order to provide the business with a number of choices to redirect the business within successive manner. As mentioned by McDONALD, M.A.L.C.O.L.M., (2016), his also helps the business with a competitive advantage. The competitive strategy in business is useful to make more challenges by an organisation with the tough competitors. In this regards, few company examples can include such as in the market of the laptop, Apple has features than a number of competitors (apple.com, 2019). Strategic marketing planning is useful for a business to evaluate the current market environment for a specific business and helps to develop a clear marketing goal to achieve success within the business. The effective example of such successive organisation is found including a number of the company, such as the company Toyota is well established in the global market and they offer quality within the models (managementstudyguide.com, 2019).
The corporate strategy is useful for the business in order to provide a sensitive direction for the total structure of the business. As suggested by Mishra and Modi (2016), his is important for the business in order to redirect it within scheduled planning. The corporate strategy usefully increases the operational efficiency of the business. Thus, the organisation becomes proactive using such corporate strategies. This is also useful for total Marketing Solutions Ltd, in order to redirect the business with improved modification. However, the marketing strategies usefully support the corporate strategy and strengthen the corporate strategy. The effective corporate strategy is useful for the business in order to make it a success. As mentioned by Wilden and Gudergan (2015), here are a number of companies that become successful using such marketing strategies, such as Red Bull, an Australian company. The marketing strategy is also important in order to provide the business with improved employee co-operation. The employee co-operation is useful to make the organisation more challenging within the tough competitors. On the other hand, such corporate strategies are also useful in order to capture the target market for the business. The focus on the target market is important to drive the business to achieve the target profit from the business.
Corporate strategy helps to create value of organization across different business while marketing strategy deals with combining all then plans which are used in achieving marketing goals of the company. Corporate strategy evaluate plans to aid an organization in carrying out visions and missions of company while achieving its organizational goals and Marketing strategy helps to attract the customers which are targeted in their visions and missions. Corporate strategies identifies competitor analysis through using SWOT and Five force model across the market and Marketing strategies find effective ways and tools which help to face the market competition and gain competitive advantage (Ashley and Tuten, 2015). Corporate strategy has main focus on profitability of business and Marketing strategy develop plans how to achieve the profits from the market. Corporate strategies identifies the market and people who have to be targeted and Marketing strategies develop plans on how to attract the targeted market for consuming the services (Gonzalez-Brambila, Jenkins and Lloret, 2016). Both Corporate strategy and Marketing strategies are important for Total Marketing Solutions. For example, corporate strategy and marketing strategy of McDonald both have positive relationship as they are operating in different countries which are a part of their marketing strategy and this will also give direction to their entire organization. Other than this, it will also help the organization to get their goals achieved within a limited period of time. Their marketing strategy will give support to their overall corporate strategy by increasing the profit of company.
The effective development over marketing strategies is useful to provide the business with the changed requirements in the market. This also usefully describes the actual marketing tactics that can be used by the concerned firm. As per Ashley and Tuten ( 2015), in this regard, the dynamic nature of the market including the pricing structure is useful for the business to provide it with attractive pricing criteria for the products. A number of organisations became beneficial using these strategies such as Microsoft (zdnet.com, 2019). The attractive feature of Microsoft with reasonable pricing criteria is useful for the organisation in order to gain new customers each year. On the other hand, the development of such strategies required a brief description of the business. Then the role and position of the product are also important during developing a marketing strategy. Thus, during the development of such strategies is useful for Total Marketing Solutions Ltd, to make a clear review of these factors.
Success of marketing strategies are always depends on reaction of customer. Marketing strategies should be built according to attitude, culture and environment under which the services and products are introduced.
Environmental analysis: For developing marketing strategy, it is essential to conduct environmental analysis of the market. It will help the firm to find major opportunities within market so that it will be easy for them to get the positive results.
Objectives: The major objectives of TMS are to expand the network of customers so that they will be able to cover more market area. This will help to increase their profits. Another objective of company is to increase the level of customer satisfaction so that it will be easier for them to make profits.
Develop unique selling point: Some unique prepositions should be identified which helps in convincing targeted customer (Hollensen, 2015). This preposition helps Total Marketing Solutions to make company different from all other. Different features, uses and benefits of the product should be clearly stated to customer that helps them understand benefits of the product for them.
Target the customers: After finding unique prepositions, Total Marketing Solutions should focus on deciding the customer which should be targeted for the product. Ways of attracting customer are depends upon targeted market.
Define the benefits of product or services: Benefits of product should be described on the targeted market through which product can be introduced (Grönroos, 2016). Customers are attracted towards the services after identifying its benefits for them. This will help Total Marketing Solutions to convince people more effectively.
Create pricing strategies: Pricing of the product should be according to type of targeted customer. Appropriate prices should be identified which the target market can afford. A proper market research should be conducted in market which helps Total Marketing Solution to evaluate buying capacity of people (Costanzo and Di Domenico, 2015). For example, TESCO uses to provide discount on their the product which will help them to attract the customers (Tesco launches fresh price-cutting drive to combat Lidl and Aldi as its market share tumbles and accounting scandal takes toll, 2014).
To position the product: After identifying all the above factors, Total Marketing Solutions should work on deciding positioning strategy for the chosen product and services. For this, company should choose a place where the product can be easily reachable by the customer (West, Ford and Ibrahim, 2015.).
Identifying promotional techniques: Total Marketing Solutions should work on identifying promotional techniques through which an organization can better introduce their product to targeted customers. It includes advertising, sales techniques and public relation campaigns through which a product can be promoted in the market. For example, TESCO is using club cards for making promotions of the products. This will help them to attract more people so that they can achieve their goals (Tesco Clubcard Rewards for Petrol, Diesel, Car Washes | Esso, 2016).
SWOT analysis: It helps Total Marketing Solutions to evaluate internal strength of the business and helps managers to take quick overview of the firm. Strength refers to that attributes of business which are helpful in achieving organizational goals. Using strength of the company as tool organizational objectives can be achieved more quickly.
Apart from this, weaknesses of the company include low morale of employees, lack of proper management and absence of cooperativeness among staff (Bennett and Chorley, 2015). For this Total Marketing Solutions should make a detailed study on organizational weaknesses because this will reduce working efficiency and productivity of the company. These factors will help to determine opportunities and threats for the organization and also evaluate the sources which can be used while facing competitors.
McKinsey 7S Framework: It is a management model which is used as an organizational tool for assessing and monitoring the internal situation of an organization. TMS should use McKinsey’s model so that they will be able to find their major structure of organization. The factors which are included in this framework are strategy, structure, systems, staff, style and skills of the employees. This factor has a major impact on the profitability of the organisation. All of these factors should be take care by the organization so it will be easy for them to get the organizational goals more easily. There are two which are hard elements and soft elements. Hard elements are strategy, structure and systems. This element can be seen at place while the soft elements are shared values, skills, staff and style, which are intangible and cannot be seen by the organization still they are involved in the growth of the company. All of these elements are interrelated with each other.
Structure: it is the line of reporting, task allocation and supervise all the level in the organization. Through this, TMS will be able to monitor the performance of the employee and also it will help to make coordination between the all levels of employees so that they can work together for achieving the organizational goals.
Strategy: Strategies plays an important role in enhancing the market share of the organization. For this top level plan have to be developed by TMS so it will help the to get competitive advantage within the market.
Systems: TMS should plan the strategy which can support the system and process of the firm. Different types of process and system are three such as information system, financial system, and payment system and resource allocation of the organization. So the plans and strategies should support the system, of the organization through which it will be easy to get success.
Shared values: This factors are related to the core values of the company which help the to get more success within less period of time.
Styles: This is related with the leadership styles which are helpful in motivating the employees. The company have to use effective leadership styles so that employees will get attracted towards their work.
Staff: It deals with number of people working in the organization. TMS should also have to find the number of people working with them. If they do not have the sufficient human resource they should appoint more people who can make participation in the productivity and profitability of the organization.
Skills: Employees which are working in the organization should have sufficient knowledge about the work they are given. This will help TMS to get more success with the market. A skilful employee can give more positive results than the untrained people.
The internal environmental analysis in business is useful in order to make a clear review of the internal factor of the business. McKinsey 7s analytical tool may be useful for Total Marketing Solutions Ltd, in order to make a focus over the internal factors of the business such as the structure and style of the firm within its internal structure. As suggested by Ryan (2016), this is also useful to improve the staff for better outcomes for the employee. In such an analysis the strength and weakness analysis of the business is useful to find out the important issues within the business. The strength of the business reflects the correct steps that are taken by the organisation such as employee co-operation, employee potentiality and so on. This analysis helps the organisation to make an effective review of the internal strategies of the firm in order to strengthen the internal factors that may reflect the organisation with increased growth and potentiality. On the other hand, the weakness analysis of the business reflects the gap within the internal business practices of the concerned firm. Hence, this is also useful for the organisation in order to overcome the weakness by developing an effective workforce. The opportunity analysis is useful for the organisation to use the offers within the business. Moreover, the threat analysis affects the business with the caution that is interrelated within the business. This was also useful to determine the upcoming crisis during penetration in a new market.
The external environment analysis in business is useful in order to find out the external issues that may reflect the business within its value. As per Kiessling, Isaksson, and Yasar (2016), in this regard, the effective approaches over these issues may help the business with the improved success of Total Marketing Solutions Ltd. The external macro environmental factors are important to continue the business within a successive manner in the global market. The factor of these macro environmental factors includes the political, economic, social, technological, environmental and logical issues. The effective consideration over these factors may provide the organisation reduced risk management attributes within the business operation. The external micro environmental factors reflect the business with effective business operations. The supplier, marketer and intermediates are an effective part of the microenvironment of the business. They are the important factors to give the business its effective value to achieve its goal. The employees are the part of the micro environmental that are interrelated with the business objectives. The effective workforce of the employees in order to fulfill the planned objectives may help the organisation with the completion of its annual task for the concerned firm.
External environmental analysis helps to evaluate the factors which can affect business in terms of their profit and expansion of business. It includes political, economical, social, technological, environmental and legal factors. These factors are generally not in control of a single business entity. It helps to understand risk factors which are responsible for growth and decline of market. It is basically a framework used for scanning external macro environment which affects both domestic and international business of the company. Political approach of business helps to deal with political issues related to business which helps to understand the political and legal environment of business across the country (De Massis and et.al., 2015).
Apart from this economical factors of the country deal with employment rate, rate of inflation and consumer confidence. Change in any of the economical condition will impact overall business of the company. Other than this, change in technology will also impact business. Social factors also have a great impact on the profitability of company. Total marketing Solutions should make an effective research to analyse all the external factors of a business which can impact profitability of business. Governmental factors also affect the business of the organization, as the company have to deal with all the policies and regulations of the govt. so that the organization can make their business transaction more easily.
Other than this, micro environmental factors are also responsible for the growth and expansion of business. This are related with employee, customers and competitors. Employees affect business in the sense that if organization do not have the skilled employees, it will impact on the productivity of business. As if they do not work properly, it will directly impact on the business of TMS. Other than employees, customers also affect the profitability (PESTLE Analysis for Tesco discusses its Business Environment, 2016).
Integration basically refers to the adding all the internal and external factors to find out the best possible results. Focusing on external analysis will help to identify their effects on the profitability of the business. Total Marketing Solutions can provide best working environment to their client by introducing them through external and internal factors of business. While paying attention on internal factors company can find out their own strengths and weaknesses. It shows how to use their strengths as a tool for making business plan successful (Melnikas, 2015). It deals with functional assessment of financial, human resources and information system of the organization. Apart from this, Swot analysis helps in matching the firm resources with the capabilities of the competitive environment in which the business operate.
By understanding internal and external factors company can differentiate themselves from their competitors. Both internal and external factors are integrated with each other as they both are responsible for measuring the factors which can affect the productivity of the business. Internal factors deals with internal environment of the company while external deals with all the external factors. For example, both internal and external factors impact a lot on the progress of business. Both the micro and macro factors are responsible for development of the business.
The organisation has effective integrity within its business. The Total Marketing Solution Ltd is a potential consultancy firm that suggests the business with strategic direction in order to provide them improved success within the business. On the other hand, the organisation has improved marketing value and thus making effective profit from the customers in every year. As mentioned by Smith (2016), the organisation has also an effective market value that attracts the consumer for the services provided by the firm. The firm is also using improved communication strategy that is useful to gain more customers for the firm. However, more focus regarding the employee recruitment is helpful for the firm to provide it more success. Strong leadership in the management team is also useful for the organisation in order to redirect it towards increased growth. A better consideration over the strategic planning may help the organisation with more success within its net profit.
LO 3: AnalysING THE strategic marketing decisions and choices
The effective decisions made by the management is the key for an organisation in order to maintain the quality and competitiveness within the tough competitors in the corporate level for Total Marketing Solutions Ltd. AS opined by Yang and Gabrielsson (2017), the strategic decision making quality in the management is effective in this regard to achieve the target success within the business. The strategic decisions generally reflect the long term effects over the organisation for improved future of the concerned firm. However, the general decision reflects the organisation with the only a temporary solution of the identified issues. On the other hand, the strategic decision redirects the positivity of the firm within its total activities, its limitation of the boundaries. However, the general decision has limited reflection over the decision making approaches for business. Therefore, the strategic decision and choices reflect more acceptable steps in order to redirect the business with improved growth and potentiality.
Decisions of all levels management are taken on the behalf of the company. All decision which is taken at corporate level directly or indirectly related to functions of management which includes planning, organizing, leading, staffing and controlling. Decisions and choices made at corporate level are as follows:
Strategic decisions: This are basically refers to long term and difficult decisions which are taken by senior level managers. This decision has the capabilities to affect direction of whole organization. These decisions are multi dimensional and have an impact long term decisions of the organization. Large amount of money is involved in these types of decisions (Costanzo and Di Domenico, 2015). Corporate level mangers of Total Marketing solutions work on taking decisions on expansion of product and services that involve high amount of money. Apart from this, new technologies and sources are developed which help to make services more efficient. Main characteristics of the strategic decisions are implication of resources on the right place, assigning duties to the people according to their interest and abilities. For example TESCO is using strategic decisions to decide the prices of their products through which they can get success within the market.
Tactical decisions: These are included in medium term decisions of a company. A single wrong step of taking decisions can make the whole organization into wrong direction. These decisions are taken by senior level and middle level managers (Hammond, Keeney and Raiffa, 2015).
Difference between strategic and tactical decisions: Both the decisions are different from each other as the strategic decisions are related to the major and complex decision of the organization. On contrary to this, tactical decision are not much complex. Strategic decisions are taken for long time while tactical decisions are taken for medium time.
Business unit: Different business units are there such as accounting, marketing and production. This is also known as division of people on the basis of functional area. All the business unit have to follow the strategic decisions of the organization.
Functional level: Different functional level is there where people work is assigned to people on the basis of their area of interest and ability. People are divided on the base of their different functional level.
Impact of strategic and tactic decision at business unit and functional level: As, strategic decisions are taken on long term basis; this will affect the profits of entire organization (Krush, Sohi and Saini, 2015). For multi-dimensional organization it helps in finding ways that how staffing, capital and other resources are allocated that form benefits for the organization. It also affects at functional level as strategic decisions also affects integrating activities operating in functional area. Functional strategy links with business strategy and overall corporate strategy so any corporate decision will make effect on functional level of business.
The strategic business unit is helpful for the organisation in order to provide it with a successive distribution of work in each department. In this regard, the management is the responsible persons to make the successive business within the business a redirect them towards the annual mission for the concerned firm. The effective training provided by the organisation is useful to make the business unit more potential for Total Marketing Solutions Ltd. As opined by Peters et al. (2016), the potential business units are also effective for the organisation in order to manage the revenue, cost, production, services in a qualitative manner.
On the other hand, the functional unit of the business is important to make the functional decision for the organisation. These are the accounting team, human resources team, production team, marketing team, sales team and so on. According to their functions, the organisational functions are operated. Hence, there is effective importance of the functional unit in order to redirect the business within the accurate manner.
Total Marketing Solutions can use different positioning approaches to make the product more competitive in the market. These approaches are as follows:
Competitive positioning: It is related to positioning of business in a manner that can help them to get more success. This can be created through making better promotional activities by using different pricing strategies. For example, TECSO is making their positioning on the base of quality of their products. This will help the company to become to become market leader. Benefit of a product is to make competitive positioning in market. It includes introducing new product with an explanation of its uses and benefits to the targeted group (West, Ford and Ibrahim, 2015.).
Using price as positioning tool: Total Marketing Solutions also position the organization's product through using their prices as a tool (Böttcher and Müller, 2015). Offering affordable prices with good quality of product will always attracts customer towards the company.
Using product-user approach: In this approach product is positioned in the market with focusing on a particular user group. Total Marketing Solutions can use this approaches for their customer to make competitive positioning.
The effective approaches in order to manage the competitive positioning for Total Marketing Solutions Ltd, numbers of factors have to take under consideration. The competitive pricing of the product and services are effective for the business in order to attract the customers more effectively. The reasonable pricing is useful for the organisation to gain more customers within the given timeframe as well as make more challenges within the tough competitors. The improved quality proved within the product and services is also useful for the organisation to make the customer more satisfied. Moreover, the soft communication skill of the stakeholders of the business is also important to make a competitive value for the concerned firm. Hence, managing the competitive positioning of the firm is effective to achieve more customers as well as more profit from the business.
LO 4: Understand how a range of marketing strategies can be implemented to contribute to competitive advantage
Competitive advantage basically refers to an environment where a business can gain profit over its competitors. It can be done through offering a range of services to their customers according to their needs and demands.
Cost leadership strategy: This strategy deals with establishing competitive advantages across marketplace. Its main aim is to create low cost operations for the business. Total Marketing Solutions can use this strategy for their clients by reducing their operational cost below the other competitors (Morris and et.al., 2015).
Product differentiation: Total Marketing Solutions can use this strategy for their clients which help them to gain competitive advantages by introducing a range of products in market (Luxton, Reid and Mavondo, 2015). This product and services should be unique in their nature which attracts more customers.
Focus strategy: Total Marketing Solutions helps their client to gain competitive advantage by using focus strategy. This strategy deals with focusing on a few target markets (Frow and et.al., 2015). Introducing new products and setting prices are based on needs and demands of the selected segment.
Segmentation: This will help TMS to segment the market on the basis of different grounds so it will be easy for them to make focus on the specific market.
E-marketing: Now-a-days people spent most of their time on internet, so E-marketing will be grate option for TMS to make target on the entire market. Through this they can cover the major of the area.
The effective strategies regarding improved competitiveness for Total Marketing Solutions Ltd are important to make more challenges for the tough competitors. The cost leadership for the business may help the company to reduce the production cost as well as lower costing for the product and services. This is helpful for the business to gain more consumers for their product. On the other hand, the unique features of the product and services are useful for the firm to make a differentiation in the competitive market from the competitors. The effective leadership is also helpful in order to redirect the business within competitive aspects. The strong leadership in management is helpful to influence the business more positively in the competitive market. Moreover, the strategic focus over every operation of the business is also important to make the organisation more modified as per customer requirements.
Total Marketing Solutions can use this to make customer aware about the brand and product. Marketing communication strategy develops a plan to introduce a product in market. Apart from this, the strategy will started for focusing the customer. Analysing customer needs, preference and buying habits will help to introduce new product more effectively. It helps to disseminate company's ongoing message in one or more components. Apart from all this, it also helps to develop strategic vision to lookout for new opportunities within the market. This strategy works for expressing competitive advantage and improving its ways which help to become market leader of the business (The conceptual foundations of relationship marketing: Review and synthesis. 2015.). Total Marketing Solutions can also use this strategy for building a good image of the company. This can be done through publishing all activity such as charitable work of the organization. Company need to attract their clients continuously for this. Communication is a strategy that helps to attract new talent towards the company.
Other than this, TMS can also make communication on the international level so it will be helpful for them to increase their contacts. Through use of social media they can enhance their communication network.
The accurate strategies regarding marketing communication are useful in order to reach more customers for the specific product and services. The effective communication strategies that may be used for the improved communication channel for Total Marketing Solutions Ltd, may be the advertisement and posturing. These are the essential way to reach the target audience for the specific product and services for the firm. The sales promotion for the product of the organisation is also useful to make more improved communication channel for the business. On the other hand, direct marketing and strong public relation of the company are also useful to manage the communication channel in the global market.
Specific targeting: For an effective marketing strategy specific customers should be targeted. By focusing on specific people and by understanding their needs, it helps to achieve the organizational goals more quickly and efficiently (Grönroos, 2016). Company can use this technique as making strategy for targeting specific area.
Social networking: Social networking sites are the most popular things which help in advertising the features and quality of product or services. This will also reduce cost of marketing for company. As, most of people are interested in accessing social sites, this could be a great strategy for advertising the product in every social networking sites (Cohen and et.al., 2015).
Electronic barcode technology: As, Barcode technology is becoming more and more popular as marketing strategy. In this strategy a logo type graphic is placed on a business card or other printed piece. A phone application is used to read the tag. This will help the company to making new marketing strategy with adopting new technology in it. New technology will always attract customer.
Product development: For increasing profits TMS can develop their services, so it will help them to attract the customer in market. It will also help the organization to increase their market share among the competitors.
To lower down the prices: This is another method of developing the market share of TMS. In this they can attract the people through lowering their prices. Thy will also get competitive advantage through using this strategy.
The proper marketing strategies regarding effective planning, website designing is useful for the industry in order to make the marketing more potential for the concerned firm. As suggested by Petersen et al. (2016), the strategic planning regarding the marketing is useful to redirect the business within a successive manner. On the other hand, the effective management to operate the marketing system is also suitable to make success within its marketing criteria. The conservation analysis and optimising process are also important for the organisation in order to redirect it within accurate marketing criteria for the product and services. The proper implementation of these strategies is also useful for the firm to achieve the successful marketing of the products.
The entire report is based on a marketing consultancy business which provides their services to their clients in developing their business. In this case, role of strategic marketing is explained which helps to identify its uses in an organization. Apart from this, a detail analysis of relationship between corporate strategy and marketing strategy is done. In addition to this, a marketing strategy is developed which helps Total Marketing Solution to help their clients.
Other than this, effect of strategic decision is shown on marketing decisions of the company. Various approaches of positioning are described which helps to gain competitive advantage for the organization. The report also highlights the internal and external environmental factors which can affect overall business activity of organization. Apart from this, a range of strategies are elaborated which helps to gain competitive advantage across the market. In addition to this, marketing communication strategies are explained which helps to sale the product by introducing it to customer. At the end, marketing strategies are explained that helps to market the product in the targeted area.