Travel Agency
Summarize the basic components of a marketing strategy.
Read the scenario and respond to the checklist items based on the reading and learning activities.
Scenario: Lee is the owner of Lee’s [business type selected by your instructor], which is located in the city closest to where you live. Lee has now hired you to design the basic components of a marketing strategy for her business.
Instructions: Summarize a marketing strategy for Lee’s addressing each part. You can view Parts 1–3 you completed in Unit 1 concerning the mission, situation analysis, and marketing objectives. This week you will complete Parts 4–6 below to submit your final assignment to the Unit 2 Dropbox.
Part 4: Marketing Strategy
Describe the target market strategy for Lee’s business. Paint a very clear picture of who Lee will be targeting for her product.
Explain the four strategies for growth: market penetration, market development, product development, and diversification. How can Lee use market penetration to increase her sales? Explain.
Briefly describe your marketing mix strategy: product (size, colors, packaging, use, etc.), place or distribution method, pricing, and promotion.
Part 5: Implementation
Using the concepts from the text, explain how you will turn your plan into a reality.
Part 6: Evaluation
Using the concepts from the text, describe how you will evaluate your marketing strategy.
