Strategic Marketing Mix:

    "The Strategic Marketing Mix is the set of controllable, tactical marketing tools that the firms blends to produce the response it wants in the target market. The Marketing Mix consists of everything the firm can do to influence the demand for its products" (Kotler and Armstrong, 2010, p.52).
    These strategies will form part of an important group of company’s tactics to help achieve a strong positioning in the actual market (Kotler and Armstrong, 2010); where the company has a numbers of factors (product, price, place and promotion) to combine and integrate, in a marketing program designed to achieve the objectives and deliver real values to the consumer, at the same time the company has to keep in mind that each factor affects the other and the mix must overall be suitable to the target.

Musadiq (2008) refers:

Once the decision regarding market-entry is taken, a firm needs to formulate its marketing mix strategy. Such a decision covers product, promotion, distribution and price elements of a firm’s market offering; therefore, it has to be integrated in its outlook.

Thus, market mix strategy is concerned with the designing offering. In fact, marketing strategy call for the decisions regarding the following elements of marketing mix: Product, price, place and promotion.(p.212).

     Thereby the marketing mix deals with the way in which a company uses their price, product, distribution and promotion to choose market and sell its product in the current globalized trade, where competition between supply and demand is highly studied.

In the today’s economic situation, the consumers look beyond a particular place to go shopping, or listening what people say about any product, they are looking really for that the price of this product is in accordance with the satisfaction that they obtained from the product.

     That is why the Price element of the strategies plays an important role in marketing today, where a small change in price can generate a large percentage in profitability, price play a key in creating customer value and building customer relationships (Kotler and Armstrong, 2010).

     Of course, when I think of the price change I do keep thinking about preserve its value to the consumers because as stated by Sullivan (2008) "If consumer thought the best deal was simply a question of money saved, we’d all be shopping in one big discount store; customer want value and are willing to pay for it. Savvy marketers price their products accordingly".

　

References:

Kotler, P. Armstrong, G. (2010) Principle of Marketing.

Musadiq A.S. (2008) Strategic Marketing: Marketing Decisions for Strategic Advantage, 9, 212.

Sullivan, E.A. (2008) "Value Pricing: Smart marketers know Cost-plus can be costly". Marketing News, 15, p.8