Assignment: Reflection Paper
This assignment will assess the following competency: 4. Demonstrate the ability to exhibit sound marketing decision-making.
Directions
Based on the learning experience in this course along with the new marketing knowledge that you have acquired discuss in 300 – 400 words how you can use these practices to improve the marketing effectiveness in your current organization. Discuss how you can forge a long-term marketing strategy in your organization. How can the establishment of effective workgroups assist you here?
These are the topics learnt: some of them can be used for this assignment.
– Marketing strategy : why is Marketing Management important
– Customer behavior
– Segmentation: market segment; demographic, geographic, psychological, behavior, B2B
– How do marketer segment the market
– Product positioning
– Positioning via price, and promotion
– Positioning: Assessment through the customer lens
– Targeting: what is targeting, and do marketers do it
– Sizing market
– Products: Goods and services
– Brands. What is a brand, what are branding strategies
– New product, why are new product important, how does Marketing develop new product for their customers
– What is the product life cycle?
– Pricing; why is pricing so important, low prices, high prices
– Customer and psychology of pricing
– Channel of distribution and logistics
– Advertising messages and marketing communication, what is advertising, why is it important, what market goals are sought from advertising campaigns, designing advertsising messages to meet marketing and corporate goals
– Integrated marketing communication and media choices
– Social media
– Customer satisfaction and customer relationship
– Marketing strategy
– Marketing research tools
– Marketing plans.
……………………..Answer Preview………………………..
Marketing strategies are the long term plans through which a given organization is able to achieve various goals in marketing which include to increase sales and to have a larger customer base. With such objectives achieved the organization has competitive advantage over the other firms in the market thereby increasing revenue and profits through market dominance. For effective marketing strategies there are various steps which are ought to be observed to ensure that the firm has successfully come up with best marketing plans (Iacobucci, 2013).
In developing good marketing…..
APA
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