The work has not been graded but I like the output that was submitted to me. Is it possible for the same prof to do the next assignment I will be submitting? If possible, I will greatly appreciate it.
Research paper
23/08/2022
Discussion 1: Marketing and Market Share
Before describing the concept of market share, it is important to understand the marketing management process and different types of marketing. When engaging in the marketing management process, two kinds of marketing need to be considered: mass marketing and target marketing. Mass marketing assumes that everyone is a potential customer of a product or service. Consider the example of the product of salt, which is assumed to be in demand by all. A salt company such as Morton’s might then market the same way to all users, because most users have the same needs and wants for salt.
A target market is a fairly homogeneous group of customers to whom a company wishes to appeal. For example, the maker of a particular brand of cereal that is oriented toward health or weight loss may need to target a different group than would the maker of a cereal with a lot of sugar. Target marketing is the process of tailoring a set of marketing strategies to meet the needs of a specific group of target customers. While mass marketing might be considered a “shotgun” approach, target marketing might be considered a “rifle” approach.
Marketing strategy defines the marketing mix—the variables that the company employs to attract and meet the needs of a target market. The field of marketing refers to the controllable variables of the marketing mix as the four Ps of marketing: product, place (distribution), promotion, and price. Why are marketing strategies important? Companies use marketing strategies to increase their profitability by growing their market share.
For this week’s Discussion, you examine marketing strategies to explore how a company can expand its market share.
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The work has not been graded but I like the output that was submitted to me. Is it possible for the same prof to do the next assignment I will be submitting? If possible, I will greatly appreciate it.
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