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Essay example - Marketing Management: MBA and SBU
Pages 4 (1004 words)
Category 1: Marketing Strategy 1.1. As a newly minted MBA, you have been hired by the Rocky Mountain Bicycle Company to develop a marketing strategy for a proposed new bicycle. (1) What are the major decision areas that need to be considered? (2) Do you believe that the bicycle market is suitable for segmentation?…
Extract of sample
Production orientation should consider building bicycles that most people prefer. This should involve good quality and durable bicycles, sports bicycles, stylish ones etc. Bicycles are mostly used by young people, children and sports people. Hence, types of bicycles should be based on what these groups would prefer. Within this group, segmentation would be of great benefit because we can cater to different preferences based on demographics, benefits, psychographic and behavior or usage groups. Marketing strategy should be a dynamic process because of changing nature of customer needs and expectations, competitive external forces, environmental factors that impact marketing and business, and other economic, sociocultural and psyhocographic factors. Static marketing process will not help companies to incorporate innovation, changing customer needs and external factors that impact business. 1.3. Your company is contemplating the choice between a mass marketing and a target marketing approach. (1) Explain the differences between the two approaches and methods typically utilized to segments markets. (2) Discuss the advantages and disadvantages of target marketing. ...
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