According to Greenwell, & Thorn (2012), a Marketing Mix Strategies purpose is to design strategies to integrate Product, Promotion, Place and Pricing (as the 4P’s) for your brand, because a strategic marketing plan is key to the success of an organization. The long-term goal of an organization is to serve through it’s mission and vision to attract as many investors or contributors to remain in operation.
The tool(s) to facilitate this venture should be a reliable and effective marketing mix strategies linking the four vital components as highlighted below;
(1) Product: is the aspect of the mix that will focus on the target market’s needs, that should include for example, sport product as a tangible in the form of exercise or training equipment and sports apparel in all categories. The goods should focus on brand, design and quality by sport manufacturing company to satisfy the needs of the target market. The same approach should be employed as it relates to offerings in an intangible form of sports products.
(2) Promotion: concentrate on how to interact with the target market and being able to position the product in their minds through various canal. This strategy will explore four elements of the promotional mix, for example, from an economical approach if there is a lack of start-up funding to fuel a successful brand.
(a) Advertising through the internet, which is cheaper than television, radio, newspaper, etc. which can be very costly. The internet utilizing social media such as Facebook, twitter, Instagram, etc. allows sport marketers to create customized content to appeal to the senses of the target.
(b) Personal selling/sales promo through face-to-face interaction to initiate relationship building between the target market and organization.
(c) Public/community relations to understand the target market while building its image.
(d) Sponsorship as one of the main investor or contributor, will align themselves with brand to support their organization overall objectives and the benefits it provides to both the sport organization and the sponsor, (Lee, Potter, & Pedersen, 2018).
(3) Place which is very vital will include the environment where the target market will be able to access the product without major hassle.
(4) Price is the statement of value on a product that the target market will be charged to purchase the product for consumption.
References
Greenwell, C., & Thorn, D. (2012). Developing a strategic sport marketing plan.
Lee, M., Potter, R. F., & Pedersen, P. M. (2018). The effects of emotions on cognitive effort while processing mediated stadium-embedded advertising: A dynamic motivational systems approach. European Sport Management Quarterly.
HP Sports Corner 