Marketing strategy
Order ID |
53563633773 |
Type |
Essay |
Writer Level |
Masters |
Style |
APA |
Sources/References |
4 |
Perfect Number of Pages to Order |
5-10 Pages |
Description/Paper Instructions
Marketing strategy
Marketing strategy refers to the process of planning and executing the conception, pricing, promotion, and distribution of products, services, and ideas to create exchanges that satisfy individual and organizational objectives. Effective marketing strategies play a crucial role in the success of a business, as they help to attract and retain customers, increase brand awareness, and drive sales.
In today’s highly competitive business environment, companies must develop and implement effective marketing strategies that take into account the changing preferences and needs of their target customers. The marketing strategy should align with the overall business strategy and be flexible enough to adapt to changes in the market, technology, and customer behavior.
The first step in developing a marketing strategy is to conduct a thorough market analysis. This involves identifying the target market, understanding their needs and preferences, and researching the competition. This information can then be used to develop a unique value proposition that sets the company apart from its competitors and appeals to the target market.
Next, companies must determine their target audience and the channels through which they prefer to receive marketing messages. This could include social media, email marketing, content marketing, or traditional media such as television and print ads. By understanding their target audience and the channels through which they prefer to receive marketing messages, companies can develop a more effective marketing mix that includes the right products, prices, promotions, and distribution channels.
Once the target audience and channels have been determined, companies must develop their marketing mix. This involves deciding on the products or services to be offered, the prices at which they will be sold, the promotional tactics that will be used to create awareness and interest, and the distribution channels through which the products will be made available to the target market.
An effective pricing strategy is critical to the success of a marketing plan. Companies must determine the price that is both attractive to their target customers and allows them to generate a profit. This may involve considering factors such as the cost of production, the competition, and the target audience’s willingness to pay.
Promotion is another key aspect of a marketing strategy. Companies must develop a promotion mix that includes a mix of advertising, personal selling, sales promotion, public relations, and direct marketing. The promotion mix should be designed to reach the target audience and communicate the company’s value proposition.
Distribution is the final aspect of the marketing mix. Companies must determine the best way to get their products or services into the hands of their target customers. This may involve selling directly to the customer, using intermediaries such as wholesalers or retailers, or using a combination of both.
Finally, companies must measure the effectiveness of their marketing strategy. This can be done by tracking metrics such as sales, customer satisfaction, market share, and brand recognition. Based on these metrics, companies can make adjustments to their marketing strategy to ensure that it continues to meet their objectives.
In conclusion, a well-designed marketing strategy is essential for the success of any business. Companies must conduct a thorough market analysis, determine their target audience and channels, develop an effective marketing mix, and measure the success of their strategy. By taking these steps, companies can attract and retain customers, increase brand awareness, and drive sales, which will ultimately contribute to their success.
RUBRIC
QUALITY OF RESPONSE |
NO RESPONSE |
POOR / UNSATISFACTORY |
SATISFACTORY |
GOOD |
EXCELLENT |
Content (worth a maximum of 50% of the total points) |
Zero points: Student failed to submit the final paper. |
20 points out of 50: The essay illustrates poor understanding of the relevant material by failing to address or incorrectly addressing the relevant content; failing to identify or inaccurately explaining/defining key concepts/ideas; ignoring or incorrectly explaining key points/claims and the reasoning behind them; and/or incorrectly or inappropriately using terminology; and elements of the response are lacking. |
30 points out of 50: The essay illustrates a rudimentary understanding of the relevant material by mentioning but not full explaining the relevant content; identifying some of the key concepts/ideas though failing to fully or accurately explain many of them; using terminology, though sometimes inaccurately or inappropriately; and/or incorporating some key claims/points but failing to explain the reasoning behind them or doing so inaccurately. Elements of the required response may also be lacking. |
40 points out of 50: The essay illustrates solid understanding of the relevant material by correctly addressing most of the relevant content; identifying and explaining most of the key concepts/ideas; using correct terminology; explaining the reasoning behind most of the key points/claims; and/or where necessary or useful, substantiating some points with accurate examples. The answer is complete. |
50 points: The essay illustrates exemplary understanding of the relevant material by thoroughly and correctly addressing the relevant content; identifying and explaining all of the key concepts/ideas; using correct terminology explaining the reasoning behind key points/claims and substantiating, as necessary/useful, points with several accurate and illuminating examples. No aspects of the required answer are missing. |
Use of Sources (worth a maximum of 20% of the total points). |
Zero points: Student failed to include citations and/or references. Or the student failed to submit a final paper. |
5 out 20 points: Sources are seldom cited to support statements and/or format of citations are not recognizable as APA 6th Edition format. There are major errors in the formation of the references and citations. And/or there is a major reliance on highly questionable. The Student fails to provide an adequate synthesis of research collected for the paper. |
10 out 20 points: References to scholarly sources are occasionally given; many statements seem unsubstantiated. Frequent errors in APA 6th Edition format, leaving the reader confused about the source of the information. There are significant errors of the formation in the references and citations. And/or there is a significant use of highly questionable sources. |
15 out 20 points: Credible Scholarly sources are used effectively support claims and are, for the most part, clear and fairly represented. APA 6th Edition is used with only a few minor errors. There are minor errors in reference and/or citations. And/or there is some use of questionable sources. |
20 points: Credible scholarly sources are used to give compelling evidence to support claims and are clearly and fairly represented. APA 6th Edition format is used accurately and consistently. The student uses above the maximum required references in the development of the assignment. |
Grammar (worth maximum of 20% of total points) |
Zero points: Student failed to submit the final paper. |
5 points out of 20: The paper does not communicate ideas/points clearly due to inappropriate use of terminology and vague language; thoughts and sentences are disjointed or incomprehensible; organization lacking; and/or numerous grammatical, spelling/punctuation errors |
10 points out 20: The paper is often unclear and difficult to follow due to some inappropriate terminology and/or vague language; ideas may be fragmented, wandering and/or repetitive; poor organization; and/or some grammatical, spelling, punctuation errors |
15 points out of 20: The paper is mostly clear as a result of appropriate use of terminology and minimal vagueness; no tangents and no repetition; fairly good organization; almost perfect grammar, spelling, punctuation, and word usage. |
20 points: The paper is clear, concise, and a pleasure to read as a result of appropriate and precise use of terminology; total coherence of thoughts and presentation and logical organization; and the essay is error free. |
Structure of the Paper (worth 10% of total points) |
Zero points: Student failed to submit the final paper. |
3 points out of 10: Student needs to develop better formatting skills. The paper omits significant structural elements required for and APA 6th edition paper. Formatting of the paper has major flaws. The paper does not conform to APA 6th edition requirements whatsoever. |
5 points out of 10: Appearance of final paper demonstrates the student’s limited ability to format the paper. There are significant errors in formatting and/or the total omission of major components of an APA 6th edition paper. They can include the omission of the cover page, abstract, and page numbers. Additionally the page has major formatting issues with spacing or paragraph formation. Font size might not conform to size requirements. The student also significantly writes too large or too short of and paper |
7 points out of 10: Research paper presents an above-average use of formatting skills. The paper has slight errors within the paper. This can include small errors or omissions with the cover page, abstract, page number, and headers. There could be also slight formatting issues with the document spacing or the font Additionally the paper might slightly exceed or undershoot the specific number of required written pages for the assignment. |
10 points: Student provides a high-caliber, formatted paper. This includes an APA 6th edition cover page, abstract, page number, headers and is double spaced in 12’ Times Roman Font. Additionally, the paper conforms to the specific number of required written pages and neither goes over or under the specified length of the paper. |
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Marketing strategy
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