Explain market penetration is the right strategy for growth

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Reference no: EM133222871

Assignment:

1) Market penetration and mental and physical availability

Explain why focusing on market penetration is the right strategy for growth and how expanding mental and physical availability provides the foundation for higher levels of market penetration.

2)Needs-based customer segmentation

Canadians frequently vacation in Europe after completing their undergraduate degrees. They usually seek accomodation at value hotels as they're travelling on a budget and desire to enjoy the local entertainment in the cities they visit.

What are the 3 to 4 most important qualifying dimensions for value hotels?

Determine two discrete needs-based customer (guest) segments for value hotels

Determine the 2 to 3 most important determining dimensions for each segment.

3) Marketing strategy formulation is a three-phase process: Diagnosis, Strategy, Execution.

You are a marketing consultant working on an assignment for your client to launch XYZ Pet Parlours in Toronto. You are tasked with leading marketing strategy development. Your client has asked you to answer the following questions before you start your assignment:

a) Why is "diagnosis" so important for marketing strategy formulation? Briefly explain the types of analysis included in the diagnosis phase.

b) What are the three important decisions to be made during the "strategy" phase?

c) What are the important decisions to be made during the "execution" phase regarding ONLY your product and place strategies?

4) Marketing communications planning (AKA Promotions)

You are the marketing manager for Honda in Toronto. You are developing a marketing communications plan to support the launch of a new moderately priced four door compact electric car at the beginning of the next quarter. You've decided to present your high-level plans to your marketing director to solicit her agreement and approval using a sales/purchase funnel, mapping communications tools you plan to use with the phases of the funnel. You are NOT required to draw the funnel.

a) Briefly explain the phases of the funnel: Awareness, Interest, Consideration, Conversion, Retention.

b) Determine two important communications tools you will use to move customers through each phase of the funnel and briefly explain your choices?

c) What is the optimal percentage split of your budget between top-of-funnel and through-the-funnel marketing communication tactics? Briefly explain your reasoning.

Reference no: EM133222871

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