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Golds Reling, Inc.

Satisfactory Essays

"Marketing Strategy" Please respond to the following:

Question 1 * From the scenario, suggest two (2) marketing strategy options that Golds Reling, Inc. could implement. Next, select the option that you believe will be most effective for the new product launch. Justify your response.

Question 2 Imagine that you are about to launch a social networking site. Discuss what target market your social media site will cater to. Discuss how you will create a marketing strategy to entice them to join your site. Determine the approach you will use going to measure success. Provide a rationale for your response.

For Golds Reling, Inc. I would suggest a cost leadership and differentiation marketing strategies. By being able to cut cost leads to higher …show more content…

Which offers various listings of local hobbies, travel destinations, and events. These activities can range as broad as mountain climbing, bicycling, foodies to travel all over the world. My marketing strategy would have emails go to potential customers asking them to feel out a 5 to 10-minute survey asking them questions on what hobbies do they find interesting. The email subject line could say "LETS CHECK SOME THINGS OFF YOUR BUCKET LIST." Then I would record their results and track them. Which the survey will direct customers to my website. Which lists all the hobbies that are locally being held and worldwide. Another great idea is to have some local advertising with companies such as Bass Pro Shop, REI, and many other companies that can promote your website which in turn promotes them as well for the gear that you will need for your future trip. I would also advertise through Facebook, Twitter, Customer Emails, Radio, and Television. Target audience would be anywhere from children to the elderly. To record success on each event I would have a customer review part which allows everyone to provide feedback on the quality of the event. Also, another recording measure would be monitoring Facebook, Twitter and our companies website online traffic and discussions. Keep track of the following: New customers, repeat customers, orders, feedback, suggestions, and comments. Would help determine how well

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