Please provide a 200 word response to class mate and must have a work cited page
Leonard (2019) states that for a company to stay in business, it needs to market to potential customers to close sales. A company’s marketing strategy can be executed via networking, digital media, print, or some combination of all three (Leonard, 2019). While a company can have multiple marketing strategies at any given time, they all have the same general flow of information gathering, execution, and evaluation (Leonard, 2019).
Starting, a company should consider its mission, its customers’ needs, and how it plans to meet them (Indeed Editorial Team, 2021; Walker & Mullins, 2014). Once it has an idea of who they are and what they intend to do, the company should consider what technological and competitive environments it will enter and if it is a good choice (Leonard, 2019; Walker & Mullins, 2014). Once the company makes it past the information gathering phase, it must then consider how to implement the strategy, what data they intend to collect, what it will cost, and if it can handle the potential increased business (Indeed Editorial Team, 2021; Leonard, 2019; Walker & Mullins, 2014). Lastly, the company will need to analyze the results of its marketing strategy, determine what adjustments need to be made, and forecast any market or internal shifts (Leonard, 2019; Walker & Mullins, 2014).
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