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3 The essential elements of an excellent marketing plan
3 The essential elements of an excellent marketing plan

... plan is mainly concerned with competitive advantage – that is to say, establishing, building, defending and maintaining it. In order to be realistic, it must take into account the organization’s existing competitive position, where it wants to be in the future, its capabilities and the competitive e ...
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... Marketing a product or service is an essential component of doing business in a consumer culture, like that of the United States. A business’s success depends on its ability to determine what customers want and then provide it at a reasonable cost. To achieve these goals, businesses need to plan and ...
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... point. A graph of the product life cycle, which can also be called the style curve, illustrates product sales over time. Almost all products are popular for a period of time and then their popularity declines. Some products, from automobiles to fashions, are designed to be in style for only one seas ...
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Marketing channel

A marketing channel is a set of practices or activities necessary to transfer the ownership of goods from the point of production to the point of consumption. It is the way products and services get to the end-user, the consumer; and is also known as a distribution channel. A marketing channel is a useful tool for management, and is crucial to creating an effective and well-planned marketing strategy.Another less known form of the marketing channel is the Dual Distribution channel. This channel is a less traditional form that allows the manufacturer or wholesaler to reach the end-user by using more than one distribution channel. The producer can simultaneously reach the consumer through a direct market, such as a website, or sell to another company or retailer that will reach the consumer through another channel, i.e., a store. An example of this type of channel would be franchising.Roles of marketing channel in marketing strategies Links producers to buyers. Influences the firm's pricing strategy. Affecting product strategy through branding, policies, willingness to stock. Customizes profits, install, maintain, offer credit, etc.↑ ↑ ↑ ↑ 4.0 4.1
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