Four key elements for successful marketing can be identified. These are:
1) Understanding Value – the customer and what they value, (Who are they and What do they want?)
2) Creating Value for the customer (Product and Pricing Strategy)
3) Communicating Value to the target segment (Promotional Strategy)
4) Delivering Value and making it easy for the customer to buy. (Placement Strategy)
All of these elements are developed through marketing research.