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.
Make 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.
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?
Provide three to five sources in your presentation.
While APA format is not required for the body of this assignment, solid academic writing is expected, and documentation of sources should be presented using APA formatting guidelines.
The company is Nike and were doing a market expansion into Greater China, Central Europe, & Emerging Markets.
Marketing Section of Operations Chart
Year 1
Marketing
- We would ensure all our products ranging from footwear, baseballs and clothing are availed in China.
- Our Pricing shall be friendly and will carry out thorough advertisement through TVs , local radio stations, banners , road shows and personal selling
- Will focus on both the young and aged as our customers
- The quality of goods would always be high
Year 2
Marketing
- Will supply all our products to Eastern and Central Europe at affordable prices. Promotion activities shall be disseminated immediately through TV stations, Radio stations, banners and personal selling
- Our products would cover children products, youth and the aged. Our target would be to serve all
- Our Corporate Social Responsibility (CSR) would be highly discouraging child labor, any job abuse and ethical supply of products
Year 3
Marketing
- All our products would be availed in the online stores
- The online pricing shall be friendly and lower than that of our competitors
- Online advertisement through social media and websites would be highly practiced.
- Our branding shall always be attractive to the customers
- We would target all online customers especially the youth and young adults.