Marketing Plan For A Marketing Strategy

1299 Words Jul 10th, 2016 6 Pages
Designing a product, taking it from imagination to creation can be a long painful process with many failures. This process comes with heavy investments of time and capital but still remains only a small portion of the entire dream. It is also important to plan ahead in regards to how this product will meet the main stream consumer. The concept of marketing may seem like a simple process, “business success using a simple process of understanding and meeting customer needs” (Drummond, Ensor, & Ashford, 2014). One tool used in order to ensure product to consumer success is a marketing strategy. A marketing strategy combines all of the marketing goals and business goals in to one comprehensive package (Lake, 2016). The marketing plan …show more content…
& Raymond, 2012). The research and planning is well underway and the product is meeting business goals to include the strategic analysis. Determining the best locations and market to present the new product to becomes the next item on the docket. This seems like a no brainer, put it in front of as many people as possible and let the product sell itself. Unfortunately, it is a bit more complicated but ultimately the right direction, maybe a little more planning. Utilizing market segmentation allows companies to break down a large pool of consumers in order to determine which demographics will most likely buy a given product. This process takes into account various age groups, annual income, geographic area, and many other factors. Taking these factors into account and narrowing down who may actually purchase the product the company can use target marketing to focus on that specific group of consumers. Target marketing includes direct mail campaigns, door hanger programs, and social media. Not all companies benefit solely from target marketing and may choose to also mass market. Mass marketing to consumers through television, radio, and billboards can also lead to successful results. The target market has been identified, now the company must position their product within the market place. This includes more than putting a product on a shelf, such as creating positive product image and determining which locations
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