The cost of the product must be “fair”, it must satisfy users and give the right value to the good and bring maximum profit. In defining the price we must already hypothesize possible promotions.
How to define the best price?
You have to find the right balance between maximum profit (the calculation must be done by counting all the production and distribution costs), in accordance with the purchasing power of the buyer personas, also taking into account the mexico phone number library competition! It is essential to analyze the price that the competition applies to similar products and above all how much the target audience spends on similar products.
The price must therefore be competitive and not “out of the market”.
Distribution of the product/service on the market (place)
In this case we are referring to The power of service calls offline and online distribution channels . I define how to get my product to my target: will the distribution be direct or will I use some distributor?
By using the direct channel I will sell the product to the customer myself and therefore I will be able to obtain a higher profit .
If I use intermediaries for distribution, on the one hand I will be able to reach a larger segment of the public. On the other hand, the profit margin will be lower.
Also, will the sale be online or offline? Or will I use both channels?
Promotion: How to Communicate and Attract Attention
Promotion includes all beb directory marketing communication activities, sales incentives, branding and requires a certain investment. Whatever communication tool is used, the goal is the same: to reach the target audience, creating curiosity and real interest.
What activity is this specifically?
The choice of communication strategy must consider the use of the following tools:
- offline advertising: advertising in newspapers, flyers, posters, radio or TV;
- online advertising: Google advertising , Facebook Ads etc;
- PR: offline public relations and also digital PR;
- e-mail marketing : newsletter, dem etc.
Finally, promotion refers to all communication measures through which the target group receives more information about the product.