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Business Strategies - Coggle Diagram
Business Strategies
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Marketing Mix
Place
Place refers to the product’s channels of distribution or how it is conveyed from the producer to the end user, e.g. brick and mortar business, pop-up stalls, e-commerce.
Product
This typically refers to product differentiation. The product should be differentiated from competitor’s products in terms of quality, quantity and intellectual property protection
Promotion
Promotion involves communicating the product attributes and the corporate image in the most favorable light to intermediary sellers and end users.
Price
Setting the correct price is very important. The correct price will ensure that we can cover all costs. At the same time, the correct price can help to generate sales.
Target market
When designing a product, it is important to bear in mind who the target user is, as we have emphasised in the Design Thinking process.
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Competitive analysis
S.W.O.T.
strengths
product, process, environmental friendly
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opportunities
Trend, Up and coming technology