Would you explain, using class, text, or cites from the Internet, an area that y

Question

Would you explain, using class, text, or cites from the Internet, an area that you want to remember long-term, because you believe is an important about how you can be successful in marketing? Your beliefs should have some bearing on my comments in forums, the text, or literally any are that you think that you would like to remember two or three years from now. Most importantly, it should show: thought and depth; a basis from class/readings/research; and it should represent beliefs you wish to remember.

Explanation / Answer

There are many elements to consider when one is developing a marketing strategy :

Your prevailing & potential consumers fall into certain groups / segments, typified by their 'requirements'. Recognizing these clusters & their requirements thru market research & reports, & thereafter addressing those requirements more effectually than your rivals, should be one of the main components of your marketing strategy.

You should seek to sell to those segments which will be most profitable for your firm. It is essential that your offering meets the requirements of your selected target market.

You should develop a marketing strategy which benefits from your strengths & matches them to the requirements of the consumers you wish to target.

Once you have developed your strategy, you must thereafter decide which marketing actions shall ensure that your target market know about the commodities you offer, & why they meet their requirements.

There are several ways to do this - different types of advertising, public relations, & an effectual “point of sale” strategy.

Monitoring & assessing how effectual your strategy has been is a main component , yet is usually ignored. This control component not only aids you see how your marketing strategy is actually performing, it can also aid inform your future strategy.

A straightforward way is to ask every new consumer how they heard about your business. A more in depth analysis can be obtained from questionnaires ; focus groups ; examining consumers’ online behavioural patterns.

Once you have decided on your strategy, construct a marketing plan which sets out how you intend to implement that strategy & assess its success. The marketing plan should be continually reviewed &, if needed , updated so that you can respond fast to alterations in consumer requirements & to attitudes in your industry & in the wider economic climate.

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