MARKETING STRATEGY – DUE AT THE END OF WEEK 3 – DUE 5/3 AT 11:59PM (YOUR 3RD ASSIGNMENT)
Product – Think of the new products you may decide to offer to better serve your target markets. What are all of your products and services? How will you craft your products/services to your target customer segments?
Price – What price have you determined for your products/services? Does this price take into account all your costs including personnel, operational expenses, cash flow and working capital? Have you also allocated a profit margin in your costing? What price will your target market bear? Do your prices take into account any seasonal variation?
Place – Your town is your location but where in your town? Is it near a major road? Does it have parking? Can people walk to it?
Promotion – Make sure you cover the entire promotional mix
Advertising- mailers, radio, TV, billboards
Personal Sales – onsite and offsite
Sales Promotion – giveaways, coupons,
Public Relations – events, media releases
Direct Marketing – email, website, blog/social media –
The Website – What features will the new website have?
Social Media – What do you want to achieve/communicate (brand awareness, online sales etc)? What social media tools do your customers use (e.g. Blogs, Twitter, Facebook etc)? What strategies can you use to network and communicate effectively with these customers? Who will upkeep your social media presence – do you have the internal staff or would you need to engage an external organization.
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