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Marketing 205

In: Business and Management

Submitted By bundatre
Words 607
Pages 3
Tracy Bundage
American Intercontinental University
Unit 2 Individual Project
MKTG 205 – Principles of Marketing
October 14,2012

Abstract
To be successful companies know how to adapt to a continuously changing market place. Marketing managers practice the art of market oriented strategic planning, processing and managing a viable fit between organizations, skills and resources on its changing market opportunities. The aim of strategic planning is to shape the company’s business, products, services and messages so that we achieve targeted profits and continued growth.

Marketing Strategy for Big Mo’s Diner

As we all know a company cannot serve all customers in the restaurant business. The customers will be to numerous and diverse in their taste for food and dining. The company’s approach is to identify the market segments it can serve effectively. In the next few paragraphs we will examine the different levels of segmentation, market segmentation and bases for segmenting consumer and business markets. So what is segmentation? Marketing segmentation is a way of dividing consumers into groups based on their coming needs and seeing how they will respond similarly to your marketing strategy. Once the marketer had identified its market segment, it then has to decide how many markets to target and which ones. In the food business you want to target all markets because we are serving food, therefore a mass marketing approach would be ideal for Big Mo’s Diner. Our attempt is to serve all customers and groups with the food they may enjoy. Undifferentiated marketing is the approach because we will ignore segment differences and go after the whole market with one offer. The design for Big Mo’s Diner will appeal to all buyers but also provide a superior image for those who want the quite evening away from home and also to those who want to come eat,…...

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