Marketing plan as the main part of the business strategy - Essay Example

Only on StudentShare

Extract of sample
Marketing plan as the main part of the business strategy

Markets and products have become extremely fragmented. There are hundreds of special-interest magazines, for example, each targeted to a very specific market segment. It's the same with restaurants, cars and retail clothing stores, just to name a few industries.
Positioning your product competitively requires an understanding of this fragmented market. Not only must you be able to describe your product, you must also be able to describe your competitor's product and show why yours is better. Positioning your product involves two steps. First, analyze your product's features, and decide how they differentiate your product from its competitors. Second, decide what type of buyer is most likely to purchase your product. Pricing and placement are critical to competitive positioning. In today's marketing culture, pricing cannot be separated from the product.
Take grocery stores, for example. The full-service supermarket is still the most popular form of grocery distribution. But today, busy families want faster service and more convenience, even if it means higher prices. As a result, convenience stores, home delivery services, personal shoppers and takeout restaurants have proliferated. At the same time, warehouse grocery retailing has also increased. ...Show more

Summary

Unlike a business plan, the marketing plan focuses on the customers. A marketing plan includes numbers, facts and objectives, but it is not primarily numerical; it is strategic. It is your plan of action-what you will sell, to whom you will sell it and how often, at what price, and how you will get the product to the buyer…
Author : erdmanconner
Marketing plan as the main part of the business strategy essay example
Read Text Preview
Save Your Time for More Important Things
Let us write or edit the essay on your topic
"Marketing plan as the main part of the business strategy"
with a personal 20% discount.
Grab the best paper

Related Essays

KL Accountants Business Need for E-Marketing Strategy
The business marketing was the main tool they utilized to motivate other people to do business. However, humans have taken a lot of time to use it perfectly, as well as marketing has too.
12 pages (3000 words) Essay
Marketing plan
From an economic-point of view, they create a benefit, called utility such as form, time, place and ownership utilities (Boone and Kurtz, 2009, p. 5) and they are the want-satisfying power of the goods or service. But in today’s highly complex marketing contexts, no business would be able to survive unless it plans effectively for the future.
17 pages (4250 words) Essay
Entrepreneurial Marketing Business Plan
This company is one of the growing advertisement agencies which have adopted the use of video productions and internet promotional services. OZ Tube promotional materials target the young population who falls under the age bracket of 18-35. This company provides services to the tourism and hospitality industry through the two communication media.
4 pages (1000 words) Essay
Marketing Plan
Marketing Plan: Individual Reflective Essay Student’s Name, I.D. Course Number: Course Title Term and Year Instructor’s Name Marketing Plan: Individual Reflective Essay Introduction In the age of market economy, marketing plan has emerged as a major substitute to the standard and traditional tools of budgeting and forecasting in business management.
12 pages (3000 words) Essay
Marketing Strategy
When the demand is created, the hotel now needs to handle this demand as well as its capability to deliver to customer satisfaction (Kim and Oh, 2004:65-71). This paper covers the marketing strategies that the hotel can put into place to gain a competitive edge and attract a sustainable market while offering and delivering services to the customer expectation and satisfaction.
7 pages (1750 words) Essay
Marketing Strategy for Business ''Express Star''
As of now there are more than 100,000 daily sales and Express & Star alone has the capacity to reach almost 40% of all the adult population in an average week. Despite the high penetration level of MNA media into the local market, the company is looking for new ways to generate revenue.
24 pages (6000 words) Essay
Complete standartisation of offerings and marketing interactions in International Marketing strategy is always the main goal to
Contents Contents 2 Introduction 3 International Marketing strategy 4 Standardisation of offerings 6 Standardization of marketing interactions 8 Effects of standardization strategy on business performance 11 Conclusion 13 References 14 Introduction The advent of globalization has brought some dramatic changes in the international markets.
12 pages (3000 words) Essay
INTERNET MARKETING PLAN:
rences 18 Executive Summary Within the last few years, e-marketing has emerged to be an adaptive ‘smart’ technology. In order to achieve marketing objectives, both large and small scale businesses started building and maintaining customer relationship through online activities to exchange ideas, goods and services with a view to satisfy customers.
15 pages (3750 words) Essay
Marketing strategy
mentation can prove to be quite fruitful in nature and the cost attached to this procedure is quite high because a lot of market research is involved. With the assistance of market segmentation, businesses can design and create goods and services that appeal to a small portion
8 pages (2000 words) Essay
INTERNET MARKETING PLAN:
The e-marketing domain is largely affected by competition, technology, newer trends in advertisement, and more importantly dynamic strategies used by firms and therefore e-marketer has to foresee how these variables may significantly
15 pages (3750 words) Essay
Get a custom paper written
by a pro under your requirements!
Win a special DISCOUNT!
Put in your e-mail and click the button with your lucky finger
Your email
YOUR PRIZE:
Apply my DISCOUNT