- You will describe your strategic approach to the market you have chosen, that is how you will recommend that the organization take advantage of the opportunities and deal with the threats. It should also include things like your product/service concept, a general description of your recommended target market and your recommended positioning appeal. Based on previously stated major objectives for the brand, you will now outline the specifics of a marketing strategy for achieving those objectives.
- A marketing strategy consists of specific strategies for target markets, positioning, the marketing mix, and marketing expenditure levels. It outlines how the company intends to create value for target customers in order to capture value in return. In this section, the planner explains how each strategy responds to the threats, opportunities, and critical issues spelled out earlier in the plan.
- For example, paint the pictureâ€ of the target market — Who are they? What do you they look like? What are their demographics? Psychographics?
- Additional sections of the marketing plan lay out an action program for implementing the marketing strategy along with the details of a supporting marketing budget.
- The last section outlines the controls that will be used to monitor progress, measure return on marketing investment, and take corrective action.
Individual: You will write up your SOLUTION in a paper of 3-5 pages using APA style. See EXAMPLE.