Identification, Product Designing etc.,
- Identification: Identify the needs, wants of the customer.
According to the needs and wants, we have to develop the product. The company people have to fill the gap between the consumers’ needs with the innovative products.
- Product Designing: It includes the specific features, terms, and packaging.
According to the needs of the customer we have to design the product, and add some special features to the product.
- Price: It includes the price of the product at low or high, proper pricing techniques have to follow.
According to the needs of the customer we have to determine the price.
- Promotion: advertising, public relations, direct marketing, publicity
According to needs of the customer we have to determine the promotional activities.
- Positioning: It includes the physical placement of a both the physical placement of the product (delivery channels through branches, door to door, automatic teller machines.
According to need of the customer we have to position the product
- Market segmentation: Proper segmentation has to do according to the needs of the customer.
- General Research and Development: Collecting supporting data from available resources.
- Client Feed Back: taking direct response about the product.
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