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.
Checklist: Summarize a marketing strategy for Lee’s addressing each step.
Step 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.”
Using the Library, write a brief summary about what constitutes a strong market-oriented mission statement.
Rewrite a marketing-oriented mission statement for Lee’s business.
Step 2: Situation Analysis
Describe methods that Lee could use to identify her company’s internal strengths and weaknesses information. Explain your response.
Using the 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 Lee’s competitive advantage over her direct and non-direct competitors in the city nearest to where you live. Ex. cost, product, or niche
Explain what advice you would give to Lee in her quest to build a sustainable competitive advantage.
Step 3: Marketing Objectives
Set Marketing Plan Objectives for Lee’s business.
Identifies at least two S.M.A.R.T. goals (i.e., Specific, Measurable, Achievable, Relevant, and Time-bounded).
Step 4: Marketing Strategy
Describe your target market strategy for Lee’s business. Paint a clear picture on who Lee will be targeting for her product.
Identify 4 strategies for growth for Lee’s business using market penetration, market development, product development, and diversification.
Briefly describe your marketing mix strategy.
Step 5: Implementation
Using the concepts from the text, explain how you will turn your plan into a reality.
Step 6: Evaluation
Using the concepts from the text, describe how will you evaluate and control your marketing strategy.
