Memo: Proposing Market Strategies
10276Overview
A target audience is determined by understanding who your product or service appeals to and who is most likely to use those products or services. There are various forms of research that can assist in this determination, including Google Analytics, Facebook Audience, and multiple forms of consumer research including surveys, focus groups, and, importantly, learnings from your current customer base and profile. You have already been provided with the target audience for the theme park. Now it is time to move onto aligning your marketing research efforts to further connect with the target audience.
You have already worked on the strategic marketing plan template, which contains a plan to address the park reopening needs. The CMO now requires you to determine the needed marketing research effort and additional clear marketing strategies to connect with the target audience and their alignment with the vision, mission, and values of the global park organization. It will be critical to keep the organizational parameters of vision, mission, and values in mind as the strategies are determined and ultimately executed.
Prompt
Draft a memo to the CMO outlining the marketing research efforts and their alignment with the vision, mission, and values of the organization in the course scenario. You must share two marketing strategies as well.
Specifically, you must address the following criteria:
1. Describe the marketing research efforts that should be conducted before establishing a strategic direction. Consider the following:
• What market demographics should be chosen?
• What marketing channels are most suitable for the purpose?
2. Refer to the Theme Park Vision, Mission, and Values of the organization and address the key factors of vision, mission, and values in relation to strategic direction.
• How would the values of the organization influence the marketing strategy?
3. Determine two marketing strategies that can help ensure successful reopening of all the parks.
• Explain how these strategies support the decision to reopen the parks.
Guidelines for Submission
Submit a 1- to 2-page Word document using double spacing, 12-point Times New Roman font, and one-inch margins. Consult the Shapiro Library APA Style Guide for more information.
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