markerting

MKT380deliverable2.docx

Home >Business & Finance homework help >Marketing homework help >markerting

........................................................................................................................................................................... 1

The target market segments ............................................................................................................................. 3

Retail strategy .................................................................................................................................................... 3

The target market segments

Business: Retail stores for departmental stores.

· Preferences: The business aims to provide all households times at one store, customers visiting multiple shops will not be allowed to buy their products, timely communication, and stability. We also aim at doing much research so as we can be able to have competitive advantage.

· Demographics: The business considers all ages and both genders.

· Lifestyle: The business considers an average lifestyle.

· Geographical locations: The business considers audiences from the city and from rural areas.

· Purchasing powers: The business provides affordable prices for its products and services, and potential customers can purchase as much as they want. Besides, we will sell our products on wholesale basis so as our customers can get vast profit when they sell our products and services.

Retail strategy

In-Store

Online

Products and services assortments

· This strategy aims at offering suitable goods and services to the target audience

· This strategy has the goal of developing goods that will meet buyer’s expectation.

· It includes concepts such as quality, new product, and brand.

· We will engage customers at all times to ensure they remain equipped with our products.

· It aims at developing goods that will meet buyer’s expectations.

· Like in-store, online has several concepts such as brand and new products.

· It also aims at offering the correct goods and services to the target audience.

Advertising and promotions program

· It has several plans such as product promotion.

· It drives upsells and cross-sells

· It builds up brand recognition and recognition.

· There are several adverting and promotional strategies online.

· One is the use of social media.

· The second is the use of videos that elaborate the product.

			•	Lastly is the use of ads in the social media platform.
Locations	• • •	It is a crucial ingredient for business success. It requires that location should conform to the overall business strategy. The wrong location would result in business failure; therefore, we will do all things possible to avoid this from happening.	• • •	It requires the use of an IP address. We will locate products appropriately in the online platform. The wrong location would make the business fail; therefore, we will do all things possible to avoid this from happening.
Store design	• • •	It Requires the use of the right floor plan. Requires that there should be enough space between products and fixtures. Owners should not forget to close merchandise.	• • •	It applies the use of stores that do not use have workers but only deliverers. It Requires the use of the right floor plan. Requires that there should be enough space between products and fixtures.
Competitive	• • • • • •	There are several sources of competitive advantage. One is product attribute distribution. The second is the customer’s willingness to pay. The third is price discrimination. Apart from this we aim to use multi-choice strategy so as we can be in a position to engage our customers. Besides, this multi-choice strategy has no hindrances on	• • • •	There are several sources of competitive advantage. One is price discrimination. The second is product attribute distribution The third is the customer’s willingness to pay.
		time and place therefore customers can access our services at all times.
USP	•	Unique selling point makes one product and services better than those of his or her competitors.	•	In online marketing, communicating USP clearly and quickly makes a product to be outstanding.
Customer service	• • •	Our business will keep customers informed to retain good and services. Customers will be receiving selfhelp information. Customers will have a positive experience.	• • • •	There are several strategies for improving customer service online. One is to ask for feedback Secondly, invest in quality site search. Thirdly improve customer’s interactions.

markerting

Contents

The target market segments

Retail strategy