JR's Retail Tactics & Strategy

 The first of STP is Segmentation. Segmentation sounds like a bad word but not really in Marketing.  This is basically when the marketing strategist puts together people of similar interests together in a specific group.  This allows the firm to set parameters to address key aspects of the segment!  The second STP is Targeting which follows naturally from segmenting core groups and then with targeting, the firm tailors with promotion and funds for manufacture a named customer group!  The 3rd STP we call Positioning.  This would be how the perceived or actual benefit or status is seen for a product or service in the marketplace by buyers considering purchasing!

      Besides the 4P's of Marketing that I wrote on earlier there are the 5C's of Marketing that I like to touch on now.  The first is the Customer/pretty self-explanatory-when a firm has a customer-centric focus! Second is the Company or firm itself-the culture internally and externally of the entity!  Third is the Context from the 5C's. That being how is the commerce in society and generally how are the people(employees) besides the suppliers that the firm does business with!  The fourth C are the companies Collaborators.  These are strictly entities the firm works with like all 3rd party vendors and suppliers or those facilitating COGS or cost of goods sold!  The 5th C are competitors-Well enough to say; the firm in question who they compete with for market share!

 Close to the late fifties say 1957, in academia and practice, Marketing becomes not only sales & advertising but also entails creating value and exchange with consumers and society.

Ah the promotion function in the Marketing mix.  As capitalism in the world flourishes business needs to communicate with their customers!  I would say from word of mouth in ancient times, to today's digitized messaging; to really advertise goods & services the world has come a long way. (r)John M Rego

Just came across a great app from the Microsoft store titled Sharpr3D (We’re for $38 a month you can do product design and development. On-line with Mathcad you can get for $700 or $800/yr. a powerhouse of a calculator for engineering, mathematics, business, etc. For an example of the Marketing product function the Sharpr3D hits it. (r)John M Rego

      The price P in the marketing mix it is said is very difficult to ascertain.  Mostly the business will start out with markup percentage they seek to achieve.  From using price booklets to printed suggested retail prices labeled on the outside of shipped boxes of a straight item.      Other ways as mentioned by Sorger in Marketing Analytics/Strategic Models and Metrics, can be found in chapter 8 of his heady book on the topics of ways to use price marketing tactics. (c)John M Rego