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Strategic Marketing: Business Assignment

   

Added on  2020-05-28

16 Pages4157 Words180 Views
Running head: MARKETING AND STRATEGYMarketing and strategyName of StudentName of UniversityAuthor Note

1MARKETING AND STRATEGYExecutive SummaryThe report focuses on the marketing strategy adopted by Donald B. Chocolate. It is a newlyestablished company situated in Melbourne, Australia. After analysing the external andinternal environment, the marketing strategy of the company is discussed. The target marketof the company is discussed by the use of market segmentation. Donald B. Chocolate needsto be positioned at a place that can be easily accessed by marketers as well as customers. Amarketing mix conducted that defines the use of various strategies such as advertising forpromotion and high-low price strategy. The different levels of products are analysed alongwith the extended marketing mix to relate to the overall marketing strategy of the company.

2MARKETING AND STRATEGYTable of ContentsIntroduction................................................................................................................................3Marketing strategy.....................................................................................................................3a. Recommended target market..............................................................................................3b. Positioning of the business.................................................................................................5Marketing mix............................................................................................................................6a. Ideas related to offering products and services...................................................................6b. Different levels of product..................................................................................................7c. Pricing strategy...................................................................................................................9d. Distribution strategy.........................................................................................................10e. Promotional strategy.........................................................................................................11f. Extended marketing mix...................................................................................................11Conclusion................................................................................................................................12Reference..................................................................................................................................13

3MARKETING AND STRATEGYIntroductionThe report highlights the marketing strategies that Donald B. Chocolate needs toundertake in order to establish competitiveness in the market. The target market of thecompany is presented in the report along with the positioning of the business. Acomprehensive marketing mix is conducted that provides ideas about related product andservices.Marketing strategya. Recommended target marketThe recommended target market of Donald B. Chocolate includes people that rangefrom ages 18-35 years old. However, in order to conduct a successful business, it is necessarythat the marketing managers of the company ensure that people below 18 years of age arealso targeted. This is mainly because of the fact that children love the consumption ofchocolate products. According to Armstrong (2015), with a higher number of children in thecountry, Donald B. Chocolate can aim at this section of the population to gain the maximumnumber of sale. In this regard, market segmentation can be done that outlines the factorsrequired to be considered.GeographicDemographicBehaviouralPsychographicThe geographiclocation includes theresidents of thecustomers. Thelocation of eachcustomer needs to beThe demographiccondition includesthe age, social status,gender and theoccupation of thetarget people. TheThe behaviouralfactor needs to bedetermined based onthe benefits that areprovided to thecustomers and theAccording to Keeganand Green (2015),the psychographicfactors include thelifestyle and thepersonality of the

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