Question: How can target marketing plans help to avoid failures? After doing the reading you would have to look at what you want your 4 p

How can target marketing plans help to avoid failures? After doing the reading you would have to look at what you want your 4 ps to be about. In looking at this I would say that you must have a product that you feel good about and think about how you are going to promote it and where you are going to sell it and setting a price that you can make money and make it appealing. When I say it must be appealing, I would think to the fact what are you going to offer in features that is really going to stick out? Is it going to be something that no one has ever thought of before or are you going to come up with something and try to compete against a product that is already out there. I feel that if you are going to compete against another product you really must have something that stands out above what they have. My example of a great marketing Strategy would be how Nike signed Michael Jordan and turned his name brand shoe into a million-dollar business. Nike started off advertising to just the basketball players, using psychological factors, such as if you get this shoe, it will make you a better player. He has turned that into a clothing brand, which you are now seeing with his logo on major college uniforms and on the NBA uniforms. Also, he has shoes not only in basketball, but also in Football and Baseball. They where able to branch off the brand and get other stars in other sports to have their own brand of shoe off the Jordan brand. This was an example of a successful marketing strategy.
Thinking about the breakfast food that I have purchased because the advertisement, I would say would be Eggo waffles. The commercial set it up as it is a quick and easy breakfast food for when youre in a hurry. They also had a catchy phrase that said Let go of my Eggo as another family member took the dads that he was waiting to be done in the toaster.

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related General Management Questions!