Marketing: The Livelihood of Every Business
Assignment Number: u05a1
Developing a Business Perspective
Date submitted: November 5, 2009
Marketing is one of the driving forces that most retailers depend on to generate revenue for their business. Retailers often struggle to determine which items to promote and through which vehicles when creating a marketing plan. This article will provide guidance as to the types of marketing available to retailers and the reasons behind a marketing plan. It will incorporate strategical reasoning, and how to use persuasion to get consumers to make the purchase. In addition, it will explore who the target for the marketing plan would be and how to get to through the target.
Today’s market not only provides multiple goods, but goods from different countries. It is not surprising that when you go shopping you realize that your shirt come from Italy, your jeans from India and your shoes from Japan. Retailers can take advantage of this trend by implementing a well timed marketing strategy, and placed in the right location, can have a significant impact on product demand and more so, on revenue and profitability.
A marketing plan can provide exposure to any business, create a reputation, and an increase in revenues by bringing new customers to the business. Marketing can also increase competition among similar businesses, placing you on top or under the competition.
Develop a Marketing Strategy
Introducing a new product or business can take time and effort. It requires an understanding of the target market and how the product or business can appeal to the targeted market. Developing a product marketing strategy that will introduce a new business to consumers and to the competition is one of the most challenging and exciting aspects of marketing. Not knowing what to look for in a marketing plan can be stressful, demanding, and...