When we talk about advertising, it is a time of paid public and non personal advertisement persuasive message. It is a kind of promotion technique that is directed towards the existing and the potential clients. On the other hand marketing is the planning of right mix of business activities that is carried out to gather buyers and sellers at a common point for transaction of goods. Advertising is like one arm of marketing activities. Consider marketing as a cake, advertising would be a slice of pie from that cake. "The systematic planning, implementation and control of a mix of business activities intended to bring together buyers and sellers for the mutually advantageous exchange or transfer of products (Lake L., 2007)".
Same Market New Product (Product Development) In this strategy, an organization introduces the same product in the market that he is currently catering to. It is a type of product development that an organization does to retain and increase its potential customers by providing solutions that based on the identified requirement of customers.
Same Product New Market (Market development) In this strategy, an organization takes the same product that it is currently dealing in to new markets, to turn its prospective customers into its routine and regular customers by identifying a need in that segment. It has much more to do with the identification of the right market segment and then offer them with the products from an organization's portfolio.
Same Market Same Product (Penetration Strategy) If an organization wants to cater the same market with the same product then it must have to follow the penetration strategy. It means organization will have to take the steps to increase its market share in the existing market and to follow strategies that will help organization to beat the competition. The most widely accepting activity that organizations do is to reduce the prices. The reduced prices will take the market share away from its competitors.
New Market New Product (Diversification Strategy) this strategy is followed when an organization divert its path away from the product that it is currently dealing with.. It identifies a new market segment that has some need which is away from the current product portfolio of an organization and this organization then takes into consideration that new product and provides it to the newly identified market segment.
There are four marketing mix elements which include 4 Ps. It is a generally accepted name for marketing mix elements. Product is the first P in marketing mix which comprises of the features of the product. It depends upon what kind of pricing strategy an organization is following and the kind of segment it is catering to. The third P is called Promotion. It means how the product or the offering of the company is publicized to the existing and potential customers it includes all the above the line and below the line activities. The fourth P is called the placement (distribution). It answers to the question that how the product or offering will be made accessible to the customers and what kind of distribution strategy will be followed by the organization.
The routine problem solving includes the structured method of problem solving technique that includes specified method that needs to be