Marketing Fundamentals – Market Objective and Strategy

Marketing
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Marketing Fundamentals
Assignment 3 – Market Objective and Strategy
1/24/2020

Marketing
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Contents
Marketing Objectives........................................................................................................ 2
Market Segmentation, Targeted Customers and Intended Positioning.............................................2
Propose and justify marketing strategy................................................................................... 3
First Market Strategy (Pricing Strategy).............................................................................. 3
Second Market Strategy (Promotional Strategy)....................................................................4
Marketing Ethics and Legal Issues........................................................................................ 5
References..................................................................................................................... 6

Marketing
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Marketing Objectives
Marketing objectives are essential for the overall process of the product and its organization.
These objectives improve the overall process of the product and also manage the profits gained
by the product (Lee, et al., 2015). The three marketing objectives of the print pen are discussed
as below-
 One of the marketing objectives of the product is to build proper brand awareness among
customers so they attract the product and analyze the working process of the print pen
(Fifield, 2012).
 The other most important marketing objective relates to the increasing sales which are an
essential objective of any product and organization. It is important to increase the sales of
print pens (Clow, 2016). This objective can be achieved by using different strategies to
attract customers.
 The last marketing objective is to achieve customer satisfaction so that the overall
marketing strategies of the product gets improved (Groe, et al., 2009). Customer
satisfaction is essential for any product or organization and it increases the overall
concept of the organization.
Market Segmentation, Targeted Customers and Intended Positioning
The market segmentation, targeted customers and positioning are important processes in
the marketing of the product. Market segmentation is the process of dividing a market of
potential customers into groups or segments (Bowie, et al., 2016). The segment of the print pen
includes an age and working process. The pen is used for different purposes as it is used as per
the age and the working process of people (Hellwig, et al., 2015).
The targeted customers of the print pen are students and the office going people. The
paint pen is used for the writing process. The analysis of targeted customers is essential for the
overall process of marketing. In the targeted consumers, the specific group of customers focuses
on the advertisements of the company (LIU, et al., 2015). The marketing process becomes easier
by identifying targeted consumers. As per the analysis, it has been determined that the target
market is the subset of the total market.