1. (TCO 3) Imagine you are creating a marketing plan for a company that will sel
ID: 402451 • Letter: 1
Question
1. (TCO 3) Imagine you are creating a marketing plan for a company that will sell kites. As you consider the marketing program, what types of strategy should you consider including in the plan? Propose one specific example of each type of strategy that you are considering and present your rationale (reasoning) for your strategy selections. (Points : 30) 1. (TCO 3) Imagine you are creating a marketing plan for a company that will sell kites. As you consider the marketing program, what types of strategy should you consider including in the plan? Propose one specific example of each type of strategy that you are considering and present your rationale (reasoning) for your strategy selections. (Points : 30) 1. (TCO 3) Imagine you are creating a marketing plan for a company that will sell kites. As you consider the marketing program, what types of strategy should you consider including in the plan? Propose one specific example of each type of strategy that you are considering and present your rationale (reasoning) for your strategy selections. (Points : 30)Explanation / Answer
You are heading in the right direction. First, know that a marketing strategy just asks what message do you want to convey to your target market and how do you intend to do it.
Now, when creating a marketing strategy, you really should start with a marketing plan. Why? Because a marketing strategy is part of a marketing plan and a successful marketing strategy depends on the information you obtain in those other portions of a marketing plan. It all ties together.
The market analysis comes prior to writing a marketing strategy and provides you with the first bits of information you will need.
Specifically, you will need to know your target market, which you identify once you have gone through market segmentation. Once you have your target audience, then you need to establish your goals and objectives.
You mentioned the 4 P's, which is what most people are familiar with, but I think there are two other P's, which are just as important:
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