Week Two Discussion Post

Module 2: Marketing Strategies

Marketing Strategies

Many marketing channels (methods) exist today, from paper advertising to radio and television and now to social media and the internet. As organizations evolve and grow, their marketing strategies may have to develop as well. With new technologies available, such as social media technology, an entirely new marketing strategy could be created for an organization. The marketing department must work very closely with all of the departments within the organization, from research and development (R&D) to production to sales, etc., so they can fully understand what it is they are trying to market. 

Marketing has changed and is facing a transformation, given changes in the business environment. Kumar (2018) discussed this transformation and how transformations in the consumer landscape and the marketing department are providing customers with greater access to information about products, but also businesses with more information about their customers and greater insight into their needs and buying behaviors. 

Recent scholarship underscores that transformations in the consumer environment and within marketing functions now grant customers far greater access to product information, while simultaneously furnishing firms with richer data about customer preferences, behavior, and needs. For instance, Uloma, Nwabekee, and Abdul-Azeez (2024) examine how digital marketing strategies, through analytics, CRM systems, and integrated data pipelines, enable companies to glean deeper insight into customer segments and personalize offerings accordingly. Wienclaw (2021) examined marketing strategies for companies that are based on “well-considered, empirically-based strategy for its unique situation” (para.1) 

In your MBA program , you examined Innovation and Marketing, where you learned about the “introduction to new ideas, products, and technologies to market.” You also explored market analysis, new product development, and marketing strategies for growth. In the simulation throughout this course, you have been examining those concepts and have been making marketing decisions for your products. You may have even introduced new products. 

Research and Development (R&D)

In the CAPSIM simulation for this course, you have been making Research and Development (R&D) decisions in every round to upgrade your products or create new ones. In this module, you will review the R&D process. 

A basic definition of new product development is the organizational process by which companies and teams within companies identify, develop, and market new solutions to customers and consumers. (As business professionals, it is important for an organization to be able to assess their customers’ needs and tailor strategies and tactics accordingly. Research and development (R&D) is the division of an organization where this can happen. R&D involves innovation and creative and critical thinking, and today’s organizations must be innovative and constantly looking for ways to improve, or the competition will take over the market. 

Research and Development (R&D) can lead to incremental changes to products. Consider the additional functions and speed that are added to every new cell phone upgrade. R&D can also lead to new product development. 

Think about Apple moving from computers into smartphones. Apple’s transformation, from computers to smartphones, and more recently into wearables and services, has been underpinned by consistent and increasing investment in research and development. For example, Apple’s R&D outlays grew from over US$ 8 billion in 2015 to nearly US$ 19 billion by 2020, and in absolute terms the company now rivals or exceeds the R&D budgets of many hardware and consumer-technology peers. Nevertheless, as a share of revenue, Apple still invests less in R&D than some technology peers, reflecting its margin structure and business model orientation (MacroTrends, 2025).

And for all of Apple’s success, consider how much Apple invests in R&D versus comparable companies in Satariano (2015). 

Finally, R&D can lead to disruptive changes within an industry. A disruptive change displaces a traditional product with a frequently unexpected new product. The invention of the automobile saw the decline of the buggy-whip industry. In the computer industry, hard drives displaced floppy drives. Now hard drives are being displaced by solid-state drives. Consider the impact of the introduction of digital cameras on the companies in the traditional camera and film industry, such as Kodak Eastman. 

In the CAPSIM simulation for this course, you have been making R&D decisions in every round to upgrade your products or create new ones. This week, you will take a look at the R&D process.  

References

Macrotrends. (2025).  Apple research and development expenses 2006–2024.  https://www.macrotrends.net/stocks/charts/AAPL/apple/research-development-expenses 

Uloma, S., Nwabekee, N., & Abdul-Azeez, O. Y. (2024). Digital transformation in marketing strategies: The role of data analytics and CRM tools.  International Journal of Frontline Research in Science and Technology, 3(2), 55–72.  https://doi.org/10.56355/ijfrst.2024.3.2.0047 

Wienclaw, R. A. (2021). Marketing strategy.  Salem Press Encyclopedia.

How to Identify Your Target Market

Imagine This

Braydon is a marketing manager for a company selling meal kit delivery services. He and his team meet to brainstorm messaging ideas for a new social media campaign. Click through the quotes below to review their top contenders. Which message should Braydon pick? 

LEARNING ACTIVITY READINGS

What Is a Target Market?

A target market is a specific group of potential customers most likely to buy a company’s product or service. People in a target market share characteristics: age, sex, location, income level, interests, values, etc. Review an example of the target market for a meal kit delivery service below.

Target Market for a Meal Kit Delivery Service

· Busy professionals

· Age range: 20s to 40s

· Earn a household income of $75k or more

· Live in urban areas

· Health-conscious, but lack the time to grocery shop or plan meals

A target market describes a specific segment of the total market. It does not include  everyone within the market. 

Why Define a Target Market?

Who is your solution for? Defining a target market helps companies channel resources to attract customers with the highest potential sales growth and brand loyalty. By contrast, marketing to  anyone and everyone risks wasting resources on people who have little interest or need for your product. 

How to Define Your Target Market

Imagine that your company sells water bottles. How do you identify a target market for this product? Start by examining your product, customer profile, and industry or competition. Expand the rows below to learn more.

Analyze Your Product or Service

–

First, map out your solution’s features and benefits. What are your product’s unique selling points? What problem does your service solve, or how does it deliver value to customers? From there, you can reverse engineer  who has the greatest need for your solution. 

For example: Perhaps your water bottle contains a replaceable purifier cartridge, allowing users to turn any freshwater source into drinkable water free of pesticides, pathogens, and other toxins. The bottle also fits in the side pocket of most backpacking or hiking packs. Reviewing these benefits, you know this product benefits backpackers and hikers more than urbanites or gym members.

Analyze Your Customers

–

Analyze your current customer base. Who disproportionately buys your products or services? What characteristics do these customers share? If you use sales or customer relationship management (CRM) software, check for reporting tools that identify key demographics about customers, such as their:

· Age

· Sex or gender identity

· Location

· Household income

· Occupation

· Education

Also, consider conducting interviews, surveys, or focus groups with repeat customers to explore psychographic information such as their values, interests, and lifestyle.

For example: After looking at data from your sales software, you realize that most of your customers are in their 20s to 40s, and they predominantly live in the Western region of the United States.

Analyze Your Industry and Competition

–

Finally, examine industry reports and data. Research your competition as well as buyer habits and market trends. Which gaps could your company fill? What is the potential size of different market segments? Consider these questions when expanding your market or developing new products.

For example: A competitive analysis may reveal that few water bottles on the market contain a water purification system. Perhaps industry journals also report rising demand for outdoor sporting activities among younger populations. These insights might direct you to target backpackers and hikers in their 20s to 40s. 

Identify your target market by combining experience with data. What is your experience selling so far? What trends can you identify in sales and market data? 

Characteristics to Consider

As you research, look for defining characteristics that your customers share. Some common details that companies may use to describe their target market include, but are not limited to:

· bullet

Location

· bullet

Age range or family status

· bullet

Sex or gender identity

· bullet

Household income, education, or occupation

· bullet

Values, interests, lifestyle, or buying motivations

Summary

A target market is your most profitable customer segment. To define your target market, examine your current products and customers. Who does your solution benefit most? Who disproportionately buys your products or services? What characteristics do these people share? You can also conduct a competitor or market analysis to identify gaps or opportunities. Remember: Your solution won’t appeal to everyone. Defining a target market helps you engage and convert more customers by reaching the right people with precise messaging. 

Continue to monitor your target market and track changes through ongoing research, such as customer surveys and sales data. Update your target market and marketing strategy as needed.

Module 2: Marketing Strategies

Marketing Strategies

Many marketing channels (methods) exist today, from paper advertising to radio and television and now to social media and the internet. As organizations evolve and grow, their marketing strategies may have to develop as well. With new technologies available, such as social media technology, an entirely new marketing strategy could be created for an organization. The marketing department must work very closely with all of the departments within the organization, from research and development (R&D) to production to sales, etc., so they can fully understand what it is they are trying to market. 

Marketing has changed and is facing a transformation, given changes in the business environment. Kumar (2018) discussed this transformation and how transformations in the consumer landscape and the marketing department are providing customers with greater access to information about products, but also businesses with more information about their customers and greater insight into their needs and buying behaviors. 

Recent scholarship underscores that transformations in the consumer environment and within marketing functions now grant customers far greater access to product information, while simultaneously furnishing firms with richer data about customer preferences, behavior, and needs. For instance, Uloma, Nwabekee, and Abdul-Azeez (2024) examine how digital marketing strategies, through analytics, CRM systems, and integrated data pipelines, enable companies to glean deeper insight into customer segments and personalize offerings accordingly. Wienclaw (2021) examined marketing strategies for companies that are based on “well-considered, empirically-based strategy for its unique situation” (para.1) 

In your MBA program , you examined Innovation and Marketing, where you learned about the “introduction to new ideas, products, and technologies to market.” You also explored market analysis, new product development, and marketing strategies for growth. In the simulation throughout this course, you have been examining those concepts and have been making marketing decisions for your products. You may have even introduced new products. 

Research and Development (R&D)

In the CAPSIM simulation for this course, you have been making Research and Development (R&D) decisions in every round to upgrade your products or create new ones. In this module, you will review the R&D process. 

A basic definition of new product development is the organizational process by which companies and teams within companies identify, develop, and market new solutions to customers and consumers. (As business professionals, it is important for an organization to be able to assess their customers’ needs and tailor strategies and tactics accordingly. Research and development (R&D) is the division of an organization where this can happen. R&D involves innovation and creative and critical thinking, and today’s organizations must be innovative and constantly looking for ways to improve, or the competition will take over the market. 

Research and Development (R&D) can lead to incremental changes to products. Consider the additional functions and speed that are added to every new cell phone upgrade. R&D can also lead to new product development. 

Think about Apple moving from computers into smartphones. Apple’s transformation, from computers to smartphones, and more recently into wearables and services, has been underpinned by consistent and increasing investment in research and development. For example, Apple’s R&D outlays grew from over US$ 8 billion in 2015 to nearly US$ 19 billion by 2020, and in absolute terms the company now rivals or exceeds the R&D budgets of many hardware and consumer-technology peers. Nevertheless, as a share of revenue, Apple still invests less in R&D than some technology peers, reflecting its margin structure and business model orientation (MacroTrends, 2025).

And for all of Apple’s success, consider how much Apple invests in R&D versus comparable companies in Satariano (2015). 

Finally, R&D can lead to disruptive changes within an industry. A disruptive change displaces a traditional product with a frequently unexpected new product. The invention of the automobile saw the decline of the buggy-whip industry. In the computer industry, hard drives displaced floppy drives. Now hard drives are being displaced by solid-state drives. Consider the impact of the introduction of digital cameras on the companies in the traditional camera and film industry, such as Kodak Eastman. 

In the CAPSIM simulation for this course, you have been making R&D decisions in every round to upgrade your products or create new ones. This week, you will take a look at the R&D process.  

References

Macrotrends. (2025).  Apple research and development expenses 2006–2024.  https://www.macrotrends.net/stocks/charts/AAPL/apple/research-development-expenses 

Uloma, S., Nwabekee, N., & Abdul-Azeez, O. Y. (2024). Digital transformation in marketing strategies: The role of data analytics and CRM tools.  International Journal of Frontline Research in Science and Technology, 3(2), 55–72.  https://doi.org/10.56355/ijfrst.2024.3.2.0047 

Wienclaw, R. A. (2021). Marketing strategy.  Salem Press Encyclopedia.

How to Identify Your Target Market

Imagine This

Braydon is a marketing manager for a company selling meal kit delivery services. He and his team meet to brainstorm messaging ideas for a new social media campaign. Click through the quotes below to review their top contenders. Which message should Braydon pick? 

LEARNING ACTIVITY READINGS

What Is a Target Market?

A target market is a specific group of potential customers most likely to buy a company’s product or service. People in a target market share characteristics: age, sex, location, income level, interests, values, etc. Review an example of the target market for a meal kit delivery service below.

Target Market for a Meal Kit Delivery Service

· Busy professionals

· Age range: 20s to 40s

· Earn a household income of $75k or more

· Live in urban areas

· Health-conscious, but lack the time to grocery shop or plan meals

A target market describes a specific segment of the total market. It does not include  everyone within the market. 

Why Define a Target Market?

Who is your solution for? Defining a target market helps companies channel resources to attract customers with the highest potential sales growth and brand loyalty. By contrast, marketing to  anyone and everyone risks wasting resources on people who have little interest or need for your product. 

How to Define Your Target Market

Imagine that your company sells water bottles. How do you identify a target market for this product? Start by examining your product, customer profile, and industry or competition. Expand the rows below to learn more.

Analyze Your Product or Service

–

First, map out your solution’s features and benefits. What are your product’s unique selling points? What problem does your service solve, or how does it deliver value to customers? From there, you can reverse engineer  who has the greatest need for your solution. 

For example: Perhaps your water bottle contains a replaceable purifier cartridge, allowing users to turn any freshwater source into drinkable water free of pesticides, pathogens, and other toxins. The bottle also fits in the side pocket of most backpacking or hiking packs. Reviewing these benefits, you know this product benefits backpackers and hikers more than urbanites or gym members.

Analyze Your Customers

–

Analyze your current customer base. Who disproportionately buys your products or services? What characteristics do these customers share? If you use sales or customer relationship management (CRM) software, check for reporting tools that identify key demographics about customers, such as their:

· Age

· Sex or gender identity

· Location

· Household income

· Occupation

· Education

Also, consider conducting interviews, surveys, or focus groups with repeat customers to explore psychographic information such as their values, interests, and lifestyle.

For example: After looking at data from your sales software, you realize that most of your customers are in their 20s to 40s, and they predominantly live in the Western region of the United States.

Analyze Your Industry and Competition

–

Finally, examine industry reports and data. Research your competition as well as buyer habits and market trends. Which gaps could your company fill? What is the potential size of different market segments? Consider these questions when expanding your market or developing new products.

For example: A competitive analysis may reveal that few water bottles on the market contain a water purification system. Perhaps industry journals also report rising demand for outdoor sporting activities among younger populations. These insights might direct you to target backpackers and hikers in their 20s to 40s. 

Identify your target market by combining experience with data. What is your experience selling so far? What trends can you identify in sales and market data? 

Characteristics to Consider

As you research, look for defining characteristics that your customers share. Some common details that companies may use to describe their target market include, but are not limited to:

· bullet

Location

· bullet

Age range or family status

· bullet

Sex or gender identity

· bullet

Household income, education, or occupation

· bullet

Values, interests, lifestyle, or buying motivations

Summary

A target market is your most profitable customer segment. To define your target market, examine your current products and customers. Who does your solution benefit most? Who disproportionately buys your products or services? What characteristics do these people share? You can also conduct a competitor or market analysis to identify gaps or opportunities. Remember: Your solution won’t appeal to everyone. Defining a target market helps you engage and convert more customers by reaching the right people with precise messaging. 

Continue to monitor your target market and track changes through ongoing research, such as customer surveys and sales data. Update your target market and marketing strategy as needed.