Marketing Strategy: Crucial Elements for Business Success - Essay Sample

Introduction

Every business requires marketing for it to prosper. A good marketing strategy will increase the number of customers hence creating room for employment and growth of the company. There are crucial elements of a good marketing plan as put in this paragraph. Firstly, there should be a target market for your products. The products are to be brief and well described for the target market to be easily reachable and understand it. Besides, you should identify your competitors in the business. Identifying them will help in trying to find something unique that makes your business stand out and grab the customers' eyes. Also, perform market research by collecting and putting down the data that receive your services. The data will include your sales, suppliers, products, and customers hence having well-laid information that will help reach out the market appropriately. Furthermore, a mission statement would be significant for a good marketing plan (Fleischner, 2017). The report will be to show what products are being advertised and the market it reaches. It will also be good so that it shows your difference from other organizations. In addition, promotion strategies are essential facts to consider. This includes using websites, holding trade shows, writing articles, and press releases which are a few but to mention. The strategies will be of considerable help because the products will reach a large number of people. The setting of marketing goals would also be an ideal marketing strategy. When a goal is set and achieved, it will motivate the organization to set more goals and eventually grow the market. A good marketing plan is vital in business and management. The reason it is important is that customers can comprehend why your products and services are better off than the other competitors' products. A good plan also helps in increasing the number of customers and can reach the target audience. Moreover, it helps manage and control your business. By entering the set targets, a company can monitor the performance and service delivery to the customers. An example of why it is good to have a good marketing plan is where a company gradually grows from offering small scale services to providing extensive scale services. This would be due to the marketing plan that made many customers get reached by the information. They then consider the organization that advertised their products over those that do not promote.

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Kentucky Fried Chicken (KFC) is a well known fast food restaurant located in many countries worldwide. The restaurant is known by people all over the world due to its right advertising strategies, thus growing their business progressively. Some of the advertising media used by KFC for their successful marketing campaigns are as follows. By sending direct mail to their customers is one of the methods that have made them successful. The mails reach customers, and they can know all about KFC and the foods available that are different from other fast-food restaurants. The method is suitable for maintenance of consumer contact. Also, the organization advertises through newspapers and magazines. This is effective as it reaches many readers and they get to know KFC due to its high rate of circulation. In addition, a radio advertisement is an effective method. This is because it reaches a wide variety of listeners, both literate and illiterate. Also, television commercials have been used by KFC to enter several consumers. They make short videos that entice the people, thus making them want to have a taste of their food hence growing their business worldwide. Furthermore, using the internet is a method that has made their marketing campaign successful. This is by putting adverts on different websites that people use. The adverts often appear hence creating awareness of their restaurant to the public. Also, window display has been a method used by KFC. They develop attractive messages and pictures as they have a direct appeal to those who look. The foods are well arranged on shelves so that the consumers will have a great view and get attracted easily.

References

Fleischner, M. (2017). 10 Key Components of a Marketing Plan. Retrieved from: https://www.businessknowhow.com/marketing/marketing-plan.htm

Epic Design Labs. (2015). Components of a marketing plan [video file]. Retrievedfrom: https://youtu.be/SbOlj0xuwF4

Professor Mathur (2015). Promotion Advertising Media Types. [Video file]. Retrievedfrom https://www.youtube.com/watch?v=TSt2D2120ns