Marketing Strategy Essay

Marketing Strategy Essay

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Abstract
In this paper I will discuss a marketing strategy for a lightweight lawnmower. I will discuss the components of a marketing strategy, as well as the market segments I would target. I will discuss the 4p’s of marketing, and describe how they would be developed to match the two market segments.

In developing a marketing strategy for a lightweight lawnmower, one would have to take into consideration a wide range of factors. Marketers know they cannot profitably serve all customers in a given market, at least not in the same way. Everyone has different needs. This is why they use Market Segmentation. This is the process in which a company breaks down the market into smaller groups, with certain needs, characteristics or behaviors. This could be by dividing it into male and female, different age groups, occupation, household size, income, education background and religion (demographics), countries, states, towns, communities, and regions (geographic), social class, personality, lifestyles (psychographic), and also technographic which could be how one makes their purchases; credit card, cash, etc. Once this step is complete, the marketer can decide on which segment(s) it will target in coming up with a marketing strategy.
Market Targeting is the next step. This is done by researching each segment, and deciding which segment(s) would most benefit from the product or service being marketed. To market a lightweight lawnmower, I would have to take in consideration, gender, age groups, location, income, and behaviors. I would decide to market this product to the “Middle class suburban woman” and “The independent lawn care specialists”...


... middle of paper ...


...nesses to see how many people in certain areas use their services. Also, where do the target markets do their shopping for particular products. Where are they most likely to purchase a lawn mower? The lawnmower would be available in select department stores, such as Wal-Mart, K-Mart, and Sears. This is where the suburban woman would most likely make this purchase. Also, it would be available on-line for the convenience of the lawn care specialist to order using his company credit card.
In conclusion, a marketing strategy is made up of many steps and the marketer has many goals to meet. If they can meet these goals and appeal to the target market in a way that is above and beyond that of the competition, that will make their marketing strategy successful. This will build lasting customer relationships, and capture value from the customers.

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