Marketing Strategies

In order to be effective, marketing strategies cannot be developed in a vacuum. Instead, they must reflect the company's goals, culture and operating environment. They must take into account the company's competition and its product as well as the target market. Different marketing strategies might be necessary to be used in different market segments, with separate promotional and product strategies in each segment (Stanton and Futrell, 32).

Before marketing strategies can be developed, the company must have a business plan used to set the company's direction. This business plan should contain the primary business in which the company is engaged, and identify the various markets to whic

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markets could backfire on the consumer market since consumers may not want to purchase a product used in prisons or hospitals. Restaurant owners may want to preserve the image that they do not use canned foods, or that their spaghetti sauce is different from that their patrons could get at the store, so they could also be negatively affected by such advertising. However, advertising in magazines which are already targeted to restaurants and institutions may well provide a useful vehicle. In a similar manner, coupons would be a strong incentive to consumers considering purchasing the spaghetti sauce, but not to restauranteurs or institutional buyers who deal with companies who do not accept coupons. For these markets, quantity discounts are more likely to enhance sales than cents-off coupons. When developing strategies such as these, companies must take into consideration the particular needs and characteristics of the market in question. Once the strategies have been decided, their implementation must be carried out. Ideally, this is part of the marketing plan, including, for example, which months advertising will be bought in which magazines, or on which television shows advertisement will be purchased. It is the respo
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Approximate Word count = 1461
Approximate Pages = 6 (250 words per page)

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