Developing an effective marketing strategy can be tough! Without one, however, a small business will be fighting for survival. Read through the following two examples. Then, choose one of the examples to work on. Develop an overview for a comprehensive marketing strategy for the company and its product. Be specific in defining the product, place, price, and promotion aspects.
DAPAT, based in Nashville, Tennessee, is a small manufacturer of external analgesics (pain relievers). Its main product, called Dr.’s Cream, faced this marketing challenge: In competition with much larger makers of over-the-counter remedies (such as Ben Gay), it had to find some ways to attract customers despite having only a small advertising budget.
Macromedia is also in a highly competitive fieldâ€”software publishing. The company makes graphic art software tools for graphic designers, CD-ROM developers, and people who need to make “flashy” presentations. Macromedia’s products are full of technical “bells and whistles,” but are they enough to compete effectively? Creating computerized dancing mice can be cool, but technology alone won’t sell the product!