Marketing Strategy Memo for Marketing Goals- myassignmenthelp

Question: Discuss about theMarketing Strategy Memo for Marketing Goal. Answer: Build-increase awareness of the company According to Tsimonis and Dimitriadis (2014), this company can adopt different strategies to market its brands to the world. These strategies can include, , creating social media presence, sponsoring public events, leveraging the web, advertising using traditional methods, , and displaying our products in prominent stores. Since many people use social media, creating social media pages such as Facebook and Instagram will help reach many people all over the world. Besides, sponsoring events such as sports will enable many people to be aware of the company and its products. Moreover, being that many people are committed, using traditional advertising methods such as print media and television will help reach majority of people. Increasing market share This company can increase its market share by acquiring competitors, engaging in smart hiring practices, strengthening customer relationships, and fostering innovation in carrying out activities (Ghosh 2004). As such, the company will control the bigger part of the market. Increase sales, revenue, and profits In order to increase sales, the company can focus on increasing the number of customers. This is achievable by diversifying product-line to get more customer base. Additionally, revenue and profits can increase by increasing the average transaction size. Furthermore, the company can slightly increase price of its products and increase the frequency of transactions per customer to maximize on profits. Marketing research According to Keller and Kotler (2006), marketing research is a systematic designing, collecting, analyzing, and reporting of data findings applicable to a specific marketing situation facing a company. Moreover, Kotler and Keller (2014) identifies the six steps which the company can adopt include; defining the problem. This involves specifying decision alternatives. Step two entails developing a research plan such as sources of data, approach of the research, research instruments, plan of the sampling and contact methods. The next step involves collecting information on the specific marketing problem or objectives to be achieved. The fourth step entails analyzing the collected information to find out whether they are in-line with the objectives. Step five involves presenting the findings to the management of the company. This will help chose the best alternative. And finally, step six involves making the decision by implementing the best alternative. Marketing Metrix This refers to strategies that helps companies to quantify, make a comparison, and interpret performance of the marketing approach. The company can adopt strategies in the industry, products and applications, competence, market segment, vertical and geographical (Kotler and Keller 2014). To improve performance, the company can consider focusing on providing services, goods and services and other industrial goods to widen the market share. Improving the competence of the company can take the direction improving creativity and innovations in service delivery. Besides, the company can segment the markets so that products provided suit that particular market to increases productivity. It will also help use pricing strategies such discriminatory pricing in different markets to achieve it revenue goals. All in all, the company can diversify the range of products so that many customers get attracted to the company. As such, the company will realize increase in sales and also stay afloat dur ing peak and off-peak seasons in the market. In addition, the company should consider expanding to other geographical areas to as to reach a broad customer base. References Ghosh, A., 2004. Increasing market share as a rationale for corporate acquisitions.Journal of Business Finance Accounting,31(1?2), pp.209-247. Kotler, P. and Keller, K.L., 2014.Marketing management. [Online] Available at: https://socioline.ru/files/5/283/kotler_keller_-_marketing_management_14th_edition.pdf [Accessed Oct. 30, 2017] Keller, K.L. and Kotler, P., 2006. Holistic marketing. Does marketing need reform, pp.300-305.Tsimonis? Sons.G. and Dimitriadis, S., 2014. Brand strategies in social media.Marketing Intelligence Planning,32(3), pp.328-344.