Scenario: Lee is the owner of Leeâ€™s (business type â€“ any type of pet service, i.e. pet store, pet training), which is in the city (Fort Wayne, IN) closest to where you live. Lee has now hired you to design the basic components of a marketing strategy for her business.
Checklist: Summarize a marketing strategy for Leeâ€™s addressing each step.
Step 1: Mission
Redefine Leeâ€™s Mission. Leeâ€™s current mission is more of a product-oriented mission statement. For example, â€œWe sell flowersâ€ or â€œWe make pizza.â€
- Using the online library, write a brief summary about what constitutes a strong market-oriented mission statement.
- Rewrite a marketing-oriented mission statement for Leeâ€™s business.
Step 2: Situation Analysis
- Describe methods that Lee could use to identify her internal strengths and weaknesses information. Explain your response.
- Using the online library located in the Academic Tools area, conduct an environmental scan and identify opportunities and threats to the business. Examples could include competitive, technological, economical, sociocultural, political, and legal forces.
- After completing your environmental scan or situation analysis, identify Leeâ€™s competitive advantage against her direct and non-direct competitors in the city nearest to where you live. Ex. cost, product, or niche
- Explain what advice would you give to Lee in her quest to build a sustainable competitive advantage?
Step 3: Marketing Objectives
Set Marketing Plan Objectives for Leeâ€™s.
- Identify at least two S.M.A.R.T. goals (i.e., Specific, Measurable, Achievable, Relevant and Time-bounded).
- Describe your target market strategy for Leeâ€™s business. Paint a clear picture on who Lee will be targeting for her product.
- Identify four (4) strategies for growth for Leeâ€™s business using market penetration, market development, product development, and diversification.
- Briefly describe your marketing mix strategy.
Step 4: Marketing Strategy
Step 5: Implementation
- Using the concepts from the text, explain how you will turn your plan into a reality.
- Using the concepts from the text, describe how will you evaluate and control your marketing strategy.
Step 6: Evaluation
Respond in a minimum 4-pages: two pages (500 words) for Step 1, Step 2, and Step 3 and two pages (500 words) for Step 4, Step 5, and Step 6 in a Word document with additional title and reference page using the current APA format and citation style.
Text: MKTG11: Principles of Marketing; Lamb, Hair, McDaniel-2018