Summarize
a marketing strategy for Lee’s business addressing each part. Lee is the owner of Lee’s health and fitness, 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
Part 1 Mission
Redefine
Lee’s Mission. Lee’s current mission is more of a product-oriented mission
statement. For example, “We sell flowers” or “We make pizza.”
●
Write a marketing-oriented mission statement for
Lee’s business.
Part 2: Situation Analysis
Organization Strengths and Weaknesses:
●
Describe methods that Lee could use to identify
her internal strengths and weaknesses information. For example, some businesses
use secret shoppers to identify an organization’s strengths and weaknesses.
Explain your response.
Environmental
Scan:
●
Who are the direct and indirect competitors for
Lee’s business located in your area?
●
Using sources like the U.S. Census Bureau (go to Browse by Topic), describe the
demographics affecting Lee’s business in your area.
●
How is technology being utilized in the industry
assigned that might have a positive or negative impact on Lee’s business?
●
Identify Lee’s competitive advantage
against her direct and non-direct competitors in the city nearest to where you
live.
●
Finally, define the term
“sustainable competitive advantage” and explain what
advice you would give to Lee in her quest to build a sustainable competitive
advantage.
Part 3: Marketing Objectives
● Set
marketing plan objectives for Lee’s (see page 25 of your text).
● Identify
at least two S.M.A.R.T. goals (i.e., Specific, Measurable, Achievable, Relevant
to the Mission, and Time-bounded).
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.
For example: Appealing to an entire market, concentrating on one
particular segment, or multiple market segments.
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. For example: Detailed job assignments and
activity descriptions.
Part 6: Evaluation
Using the concepts from the text, describe how you will
evaluate your marketing strategy.
Respond in a minimum of 3 pages: 1½
pages (350 words) for Parts 1–3 and 1½ pages (350 words) for Parts 4–6 in a
Microsoft® Word® document with additional title and reference pages using the
current APA format and citation style (see Unit 1 reading area for APA
assistance). Your paper should include headings, an introduction, and a
conclusion.