ESSAY : Marketing Strategy

Marketing Strategy or Your Next Chess Move

In this unit you will complete Parts 4-6 and submit Parts 1–6 as one document now in Unit 2.

The following Course Outcome is assessed in this Assignment:

MT219-1: Summarize the basic components of a marketing strategy.

Read the scenario and respond to the checklist items based on the Reading and Learning Activities.

Scenario: Lee is the owner of Lee’s [business type selected by your instructor], which is located in the city closest to where you live. Lee has now hired you to design the basic components of a marketing strategy for her business.

Instructions: Summarize a marketing strategy for Lee’s addressing each part. You can view Parts 1–3 you completed in Unit 1 concerning the mission, situation analysis, and marketing objectives. This week you will complete Parts 4–6 below to submit your final Assignment to the Unit 2 Dropbox.( I have the first part attached parts 1-3)

Checklist:

Part 4: Marketing Strategy

Describe the target market strategy for Lee’s business. Paint a very clear picture of who Lee will be targeting for her product. For example: Appealing to an entire market, concentrating on one particular segment, or multiple market segments.
Explain the four strategies for growth: market penetration, market development, product development, and diversification. How can Lee use market penetration to increase her sales? Explain.
Briefly describe your marketing mix strategy: product (size, colors, packaging, use, etc.), place or distribution method, pricing, and promotion.
Part 5: Implementation

Using the concepts from the text, explain how you will turn your plan into a reality. For example: Detailed job assignments and activity descriptions.
Part 6: Evaluation

Using the concepts from the text, describe how will you evaluate your marketing strategy.

SAMPLE SOLUTION

Marketing Strategy

Introduction

            One of the major struggles that businesses and business people experience after they have put up the painting business is how to attract clients. Understandably, a lot of effort and time has to be invested into marketing, but identifying the most effective strategies, especially those that work best for their business, including the target customers, is of importance (Dhurup et al., 2014). The focus, therefore, is on Cade’s Custom Colors Painting’s marketing strategy. 

Part 4: Marketing Strategy The marketing strategy to boost Cade’s Custom Colors Painting’s prospects around Murrow area, Ohio, will concentrate on one particular marketing segment, which is the construction/real estate industry. The target market strategy for this painting business will have to work best for its potential clients. Considering the focus is on the particular marketing segment, of importance is the specific clients’ types. Therefore, for this business, it will be important for Cade’s Custom Colors Painting to offer bigger jobs and longer contracts, as well as residential painting is less time-sensitive, this provides…