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Marketing-mix planning
Having developed a strategy, a company must then decide which tactics will be most effective in achieving strategy goals. Tactical marketing involves creating a marketing mix of four components—product, price, place, promotion—that fulfills the strategy for the targeted set of customer needs.

Positioning

A key step in marketing strategy, known as positioning, involves creating and communicating a message that clearly establishes the company or brand in relation to competitors. Thus, NIKE has launched a tagline “just do it” and logo with a single swoosh referring to the attitude a sportsman should have. Retail Outlets as “Club HP”-a marketing strategy that differentiates the HPCL retail outlets from other competing brands in terms of offering a promise of outstanding care for the vehicle and the customer by the way of providing value added services like minor vehicle maintenance, free check-ups, insurance and finance facilitation, pollution check etc. Some products may be positioned as “outstanding” in two or more ways. However, claiming superiority along several dimensions may hurt a company's credibility because consumers will not believe that any one offering can excel in all dimensions. Furthermore, although the company may communicate a particular position, customers may perceive a different image of the company as a result of their actual experiences with the company's product or through word of mouth.

Product

The product is the physical product or service offered to the consumer. In the
case of physical products, it also refers to any services or conveniences that are
part of the offering. Product decisions include aspects such as function, appearance, packaging, service, warranty, etc.


Product development
The first marketing-mix element is the product, which refers to the offering or group of offerings that will be made...