Marketing Strategy

Anonymous
timer Asked: Mar 6th, 2019
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Question Description

Consider if your strategic plan is a market entry plan (entrepreneurial), a market expansion plan for an existing organization, or a mergers and acquisitions plan. Deciding who the target market is and determining their demographics, behaviors, motivation, needs, and goals is essential because the target market drives the marketing plan. This is typically done through studying research and data related to how potential customers are willing to invest their time and energy. Additionally, by deciding who potential customers are, deciphering their needs, and likes and dislikes, learning about their lifestyle, and observing how the target market behaves, creating a brand that appeals to these customers is possible.

Create a 13-20 slide PowerPoint with speaker notes that explains your marketing strategy. Refer to the Marketing section of “Operations Chart” that was due in Topic 4. Based on your research and experience, your ideas may have changed and can be modified at any time during this plan.

Address the following:

  • What is your target market?
  • What is the size of your target market?
  • What resources do you believe would be required to implement your plan?
  • How will you reach your plan?
  • How does your marketing strategy seek to achieve your vision? How will you measure if the marketing strategy is achieving your vision? What are the indicators to identify this?
  • What type of leadership and innovative qualities do you plan to implement in order to execute your marketing strategy?

Provide three to five sources in your presentation.

Make it visually appealing with charts and tables or diagrams where needed

Tutor Answer

Chucks574
School: Rice University

Thank so much

Marketing strategy:
Name:
Institution affiliation:
Date:

Target market
• Genius store’s target market are local residents.
• The company will seek to attract customers aged between 20 to 60 years old.
• The company will also seek to target customers within the following income bracket
➢Low income
➢Middle income

Size of the target market
• Houston TX where Genius store will be located has a population size of
2.3 million people (Houstontx.gov, 2019).

• Individuals aged between 20-60 years make up 70% of the total
population.

• Therefore, the size of the target market is 1.6 million (70%*2,300,000)

Resources required to implement the plan
• Resources required to be able to implement the business’s market entry plan include
➢Financial resources
➢Human resources i.e. employees
➢Physical resources i.e. equipment

Strategic plan
• The strategic plan will be achieved through the use of available resources as well as the company’s
mark...

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Anonymous
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