Consider if your strategic plan is a market entry plan (entrepreneurial), a market expansion plan for an existing organization, or a mergers and acquisitions plan. Deciding who the target market is and determining their demographics, behaviors, motivation, needs, and goals is essential because the target market drives the marketing plan. This is typically done through studying research and data related to how potential customers are willing to invest their time and energy. Additionally, by deciding who potential customers are, deciphering their needs, and likes and dislikes, learning about their lifestyle, and observing how the target market behaves, creating a brand that appeals to these customers is possible.
Create a 15-20 slide PowerPoint with speaker notes that explains your marketing strategy. Refer to the Marketing section of “Operations Chart” that was due in Topic 4. Based on your research and experience, your ideas may have changed and can be modified at any time during this plan.
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Address the following:
- What is your target market?
- What is the size of your target market?
- What resources do you believe would be required to implement your plan?
- How will you reach your plan?
- How does your marketing strategy seek to achieve your vision? How will you measure if the marketing strategy is achieving your vision? What are the indicators to identify this?
- What type of leadership and innovative qualities do you plan to implement in order to execute your marketing strategy?