Required Resources
Read/review the following resources for this activity:
- Textbook: Chapters 11 and 12
- Lesson
- Week Three discussion response
- Minimum of 1 scholarly source
Initial Post Instructions
Think back to the business you proposed in week three’s discussion about entrepreneurship. Briefly propose a marketing strategy for your business. Consider the following questions.
- Who is your target market?
- What is your competitive advantage?
- How will you use the five elements of the marketing mix: product, price, place, promotion and people?
ANSWER
My business would be in the medical equipment area. It would entail a retail store stocking mobility aids, such as wheelchairs, crutches, prosthetic devices, orthopedic footwear, and walkers. The business would adopt a hybrid marketing approach entailing online and offline initiatives. Online strategies will entail social media and search engine advertisements, while offline marketing will involve collaboration with hospitals to reach patients and posters to health facilities that may need the items in bulk (Ritz, Wolf, & McQuitty, 2019). A hybrid marketing strategy is effective in helping a business reach diverse customers through multiple platforms….. To access full answer, click on the purchase button below.