Post 1: Describe the market strategy planning process.
Post 2: Respond to Classmate Post on market startegy planning process:
Classmate Post: Having the correct type of marketing strategy is crucial for corporations and businesses (Chiu, Chen, et. al, 2006). Some companies have even used eye tracking technology to better understand their customers (Zamani, Abas, et. al, 2016). They are many methods to putting a good plan together and more than one way to hit a goal that has been set.
Having knowledge of what the customer wants and recommends for a product may be one of key elements in a good market strategy plan (Chiu, Chen, et. al, 2006). Chiu, Chen, et. al (2006) viewed a marketing strategy as a type of working framework diagram composed of multiple elements. The strategy is broken down into the three categories of advertising strategy, product strategy, and a sales strategy (Chiu, Chen, et. al, 2006).
After gathering the data from the customer, the next step is to put together the marketing strategy (Chiu, Chen, et. al, 2006). The strategy should consist of setting goals, implementation, and being able to track the progress made (Weller, 2017).
References
Walker, O. C., & Mullins, J. W. (2014). Marketing strategy: a decision-focused approach. New York: McGraw-Hill Irwin.
Chiu, Y. J., Chen, H. C., Tzeng, G. H., & Shyu, J. Z. (2006). Marketing strategy based on customer behaviour for the LCD-TV. International journal of management and decision making, 7(2-3), 143-165.
Zamani, H., Abas, A., & Amin, M. K. M. (2016). Eye tracking application on emotion analysis for marketing strategy. Journal of Telecommunication, Electronic and Computer Engineering (JTEC), 8(11), 87-91.
Weller, J. (2017). Here’s how the marketing process works. Retrieved from https://www.smartsheet.com/strategic-marketing-processes-and-planning
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