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Marketing Strategy Analysis of Penguin Event Company

   

Added on  2020-04-21

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Running head: REFLECTIONIndividual reflective piece Name of the StudentName of the UniversityAuthor Note
Marketing Strategy Analysis of Penguin Event Company_1

1REFLECTIONThe assignment that we have done is mainly a group assignment, which our group hasdone considering the company named Penguin Event Company based in United Kingdom.Therefore our topic for the assignment we made were to consider the marketing strategy andanalyze that how that marketing strategy adopted by our chosen organization have helped orrestricted their success. Marketing strategies have several benefits, which I came across whilemaking this assignment is it actually assists to create the services or the product offered bythe organization to acquire the best possible chances to make profit, thus, helping in productdevelopment. The outcome of a market research that is done by a company before taking up amarket strategy is that they learn to set up appropriate pricing for the products or servicesthey are offering (Baker 2014). This will further help the organization to create a brand imagein the market among the competitive brands and lastly, opting for a marketing strategy helpsthe departments to work together with more cooperation because they know that they are allworking for the same goal (Yeoman et al. 2012). However, in this assignment my contribution was to find the target market andanalysis whereas my other teammates concentrated on finding the five major events that thisevent management company has been associated. As my part was to do the research foridentifying the target market of this company, thus doing this assignment my concepts gotclearer that why it is important for companies to identify their target market. Therefore, Icame to know that target market has many advantages; if the target market is selected then anorganization can easily make the messages or slogans than can be very much fruitfulespecially to those consumers in their target market. Then, it is not possible to reach eachcustomer individually with the message associate with the product or services thus, whentarget market helps the organization to attend especially those consumers who are more likelyto avail their services or buy their products. Therefore, target market helps reach the rightconsumer without much effort and waste of time. Lastly, a target market plan will also help in
Marketing Strategy Analysis of Penguin Event Company_2

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