Various Stages In Marketing Plan The Shop â€Myassignmenthelp.Com

Question: Discuss About The Various Stages In Marketing Plan The Shop? Answer: Introduction Strategic marketing plan involves structured planning of the business that includes the purchase and sale of various commodities using the unique and creative skills. The paper deals with the description of the company with its background and history. It evaluates internal analysis of company performance by identifying brand, its quality, product portfolio and the services system of the business in addition to its scope and mission. The main aim of this report is to discuss about the effective marketing plan for the Bronze Snake Shop, which will help them in effectively operating in the market and staying ahead in the competition. This report will involve several marketing models and matrices, which will help to determine the current situation of the organization. Effective marketing strategies and objectives will be provided accordingly. Brand positioning strategy will be initiated along with brand positioning map. Moreover, the strategies will be discussed along with recommending various measures to monitor the effectiveness of the strategies. It includes detailed analysis of internal strength and weakness by understanding the investment pattern in human resources, financial resources and operational capabilities. Then, it discusses the marketing mix and marketing strategy in order to understand the overall structure of the business. It provides a brief note on the barriers in marketing of the Bronze Snake shop. There is also a brief summary on the external environmental analysis of the Bronze Snake shop using pestle analysis, customer analysis and competitor analysis along with SWOT analysis. In conclusion, it evaluates the performances of the business using its types of competitors. Internal environmental analysis Company, background and history- The Bronze Snake shop is a smart company, a retail industry created in 2006 at Melbourne city by David Strangis and Anthony Sacco. Bronze Snake shop focuses on four factors that are demographic, geographic, physiographic and behavioral aspects. Demographic covers the age group from 20 to 35. Geographic includes urban areas and suburban areas while the physiographic covers fashion fanatic ad lastly the behavioral aspects includes latest trends. With the use of strategic marketing plan, they created 468.17 percent growth of the net output. Background of this shop is that with lots of hurdles it started its own business and earns for the growth and success. It came up with its ecommerce website. It has an active member on Instagram page in order to create more customers and to connect with latest brands. After Australia, it has expanded its business in New Zealand for more business and output. Description of the company Bronze snake company is a retail business oriented specialized in mens and womens clothes and accessories. The initial growth phase of this industry as difficult, slowly it tried its best to create its position and made $ 8.85 million. It deals in marketing sales and unique strategies for the growth and achievements. Mission, statement corporate objectives Mission- With a set goals and plans, creating teamwork, collection of complete information regarding the company and the product, business can create customers. Therefore, good and accurate market plans of Bronze Snake shop will help the business to grow more rapidly. With the help of structured marketing plan and strategy, it aims of achieving the desired set targets. Statement- Marketing means purchase and sale of products in the unique way to earn maximum sales. Bronze Snake shop deals in mens and womens wears; thereby it requires lots of trends and fashion along with marketing. To maintain a good relation between customer and seller, there must be good communication that leads to encouraging of the customers in the best way. Selling of a product depends on the percentage of influencing capacity of seller (Armstrong et al., 2015). Objectives- Bronze Snake shop creates customers only when the seller of this shop has full-fledged knowledge and information about the product. More advertisement and research of a product leads to creation of demand; therefore, the product should be in relation to customer wants and needs as the market depends on Customer satisfaction. Brand identity- It includes standard in quality with quality brand packaging, labeling in order to create more customers. With creative logos and name of the product creates more demand and sales for the product. With reference to brand identification then it depends largely on the ratings and review on the packaging quality and labeling of the product. Example like clothes and watches, standard unique brand names with good quality material along with present demand as per the customer requirements will create more demand for the product. Customer identifies the product by viewing the price, demand for the product, packaging and the quality. Product and service portfolio- Product portfolio- product portfolio identifies the nature of the overall collection of goods and services thereby in addition, using nature of stock, growth rate of the company, profit and loss statement, income and operations statement and the rate and records of risk the company has taken. Good growth in profit and holdings will definitely boost the financial system of the company. With reference to product type then in case of branded clothes and luxury watches, there can be quality materials used in production and proper on time good services in relation to product delivery will create more profit and sales to the business. Service portfolio- It includes the recordings of all the services and function of the organization provided to the customers and consumers in order to achieve long term profits and benefits. Customer friendly products create more sales and growth thereby with good and quick services in the sales process attracts large number of buyers. Scope of marketing planning Proper marketing includes good product services and portfolio for achieving the high growth and success. In order to achieve certain business targets, few steps help in reaching those targets. First for a good marketing plan, shop needs to set a proper goal to achieve desired target of maximum sales and output. Second step deals with planning of completion of number of sales per day. There must be recording of sales activity on a daily basis. Then there is a requirement of organizing information in a systematic manner for the accuracy in the business. After organizing, one needs to design the packaging of the product in the most classy and attractive way in order to encourage for more marketing(Baker Saren, 2016). Designing involves packaging and labeling of the product. It depends on Bronze Snake shops creativity. The most important point of a good marketing planning is to gain information about the product and the company that includes strength and weakness of the company with addition to the product. It analyses the current market position of the company in terms of market value and profit. Depending on the analysis report, it will help the company in findings of the future condition of the clothes. In order to achieve maximum sales, the work should be in to teams. Apart from one to one open communication; there must be alternative sources of communication like phone calls and online internet help to expand more in terms of business line. Internal resource assessments with strength and weakness Human resources - It includes use of human knowledge, talents and skills required for the creative marketing of the product. Financial management It includes the proper allocation of resources within the planned budget. In order to maintain certain targets of the business there must be use of more resources with less wastage and cost saving. Operational capabilities - It includes proper functioning of the desired roles using the given resources within the budget. Overall view of marketing mix strategy- Marketing mix It deals with the growth strategy of the Bronze Snake shop that includes various factors like production, promotion, profit, place, physical evidence and people. Production includes unique creation of products using modern means of resources for more customers and profit. Promotion of a product gives the demand for the product, choice of channels of distribution and production will help to create the position of the business in the market and the economy. Profit creation includes the strength quality and brand of the product. Better and good quality with consumer preferences leads to more profit of the company. Place means the direct effect of customers view for the product. Physical evidences include ensuring about the customer needs and the product tools in order to convince the customer for the purchase of the product. Lastly, people attraction or customer attraction for the product can influence the growth of the Bronze Snake shop in a positive and a strong way. In sum, these are the various marketing mix and its factors required for the growth of the industry. Marketing strategy- Success of Bronze Snake shop comes from a good marketing strategy includes well-defined structured market goals, market plans, market mix in order to achieve maximum profit for the sustainability of the business growth of the business. With reference to Bronze Snake shop, the business needs to setup strong strategy to achieve the set targets for their business. It includes various factors of concern like production, consumption, quality of raw materials, cost of production, customers satisfaction, product innovation, and marketing effect of product. Bronze Snake shops involve three main stages of marketing process. Planning- It involves the analysis of the business strength, weakness, external factors, technology effect, work culture and the overall business condition. These are the various components of planning stage of marketing. The SWOT analysis of the marketing strategy gives the business strength and weakness factor with addition to threats to the industry and opportunities available for this market. Using research methods, it undergoes business current financial position and the future effect on market. It also provides various trends available for new trends and fashion in clothing sector. Goal setting- The very first stage of planning involves proper goal to be set in order to achieve the planned target. This includes determination of material and quality, price rates to be charge, place of marketing, advertising and the effect of new quality and design on consumers. Price rates include proper reasonable rates to charge for the new launch of designer wears in order to increase customer demand for the product (Channon Jalland, 2016). It decides proper channel of distribution of the product in order to increase productivity. On addition to this, it gives various ways of promoting or advertising the various brands in the unique and creative way using the good marketing strategy. Execution of the plan- Once the goal is setup and created its marketing mix strategy, the next stage is to execute the set goals and strategies in practical. There must be proper budget of the product and sales criteria. Using factors like create resources, designing of marketing business, planning of schedules and then the second part is to execute the entire set plan in to action. Use of Proper quality resources within the given time to fulfill the task with the given marketing budget and strategy is what gives a proper execution of the plan. Evaluation of the business- With proper use of all the stages and plan one can check the accuracy and the overall performance of the business and its efficiency and work output. It gives an evaluative statement about the business performances in terms of financial statement and market position. Therefore, these are three main stages in marketing process of the Bronze Snake shop. Internal environment analysis of marketing strategy Internal environmental analyses the strength of the Bronze Snake shop while formulating strategic plans. Various internal factors of Bronze Snake shop can contribute to the growth of the business profit like financial sector, human factor, and operational support. The internal factors perform production function, human resource development functions, effective planning strategies, coordination and cooperation, finance and marketing (David, David David, 2017). The organization evaluates the business performances based on these given factors. If the existing work culture is not suitable for the required marketing strategy then the organization has to take decision for the change of work culture in order to achieve good work culture and output. Using value chain a firm divides its activities into two broad categories they are primary and support activities. Primary activities deals with physical creation of the goods like logistic, inbound, marketing sales practice. On the other hand, support activities includes human resource development, technology factor and infrastructure activities. Barriers in strategy marketing of Bronze snake shop For a good market plan, there are some or the other problems that creates issue while execution of the plan. Those are like poor assumptions, problems in marketing sector, improper marketing feedbacks. Poor assumptions can be due to unskilled employees during the marketing process, the product does not get adequate information on the requirement of the consumer, therefore while marketing the product the problem of false assumption arises. This creates loss of customers for the business. It also leads to less flexibility because of migration and in terms of organization performances, lack of information and improper management system. External Environmental analysis- The external environment of marketing strategy can influence the Bronze Snake shop. These factors includes out of control and uncertainty in the changes of the factors. Competition, government plans and policies, cultural and social factors, natural forces, demographic and technology factors. Market competition of Bronze Snake shop includes same product and brands influence the industry in terms of competition. It depends on the marketing strategies, means strong marketing strategies leads to more business in this market. Government plans and policies refers to the norms, rules and regulation in relation to marketing that maintains standard and risk free market structure. It leads to healthy global relation while doing marketing globally (Dwyer, ?orak Tomljenovi?, 2017). Cultural and social factors include societal needs, welfare, living standards, and the cultural values and ethics that help to grow business rapidly. When the products are cultural friendly, as per the customer needs and requirements, then it creates more number of sales and demand for the product. Natural forces mean environmental and nature friendly products create sustainable business. It protects the environment and encourages for more green business. Demographic factors include accurate and full-fledged information regarding the market trends and variables that can affect the market strategies of Bronze snake business. On the other side, technological factors involve modern use of technology and mode of communication in order to enhance productivity and growth of the business. Creative skills in advertising of the designer clothes and accessories can increase more sales and profit to the Bronze Snake shop. Pestle analysis Using pestle analysis, the external environmental factors can give us the impact on marketing strategy of Bronze Snake shop. There are six factors of pestle model to evaluate the impact and performance of Bronze Snake shop. Political factor- Political factor deals with government stable functions in the industry will help the industry to expand more globally , if the government encourages for modern technology then there will more production and output. Good and stable trading relations globally can make the Bronze snake Shop to grow rapidly and aims for maximum profit (Feng, Morgan Rego, 2017). When the political relations with other countries are good then it acts as a positive merit for the marketing business to create more global relations and agreements with different countries. Economic factor - Comparing with other countries growth rates and the export position then the market should create more production in order to increase export. In terms of economic factor, the large source of revenue comes from middle-income group of customers therefore there should be reasonable rates, as it creates more demand for the middle group customers. More customers create more income for the Bronze Snake shop (Felix, Rauschnabel Hinsch, 2017). On the other side, there must be proper payment of rates in order to maintain stable inflationary pressure. Fluctuations in interest rates can affect the business in greater way. Social factor- Social factors deal with society culture, business ethics and the customer satisfaction; means business should be consumer friendly with reasonable rates using standard business ethics. Demographic factors play a key role in this business. It helps to understand customers sentiments while the purchase and sale of the product (Grant, 2016).Thereby, changes in the lifestyle of the consumer largely affect the business. Technological factor- Technological factor refers to modern technology and innovative solutions add on to more production and tough competition for the Bronze Snake shop. It brings more sales and revenue to the business. The market totally depends on the creative abilities to influence the customers with the best use of various technologies like smart phones, internet and modern means of communication (Hollebeek, Conduit Brodie, 2016). Growth in the sales directly adds to the more production of Bronze Snake shop. Legal factor- To increase scale of production, there should be good global relations and this can happen only when there are good government facilities in relation to this retail market. There must be new plans and policies for the betterment of the industry in order to maintain certain legal standards of the business. Business standards encourage for more marketing, consumers and proper legal rules that helps to maintain business reputation (Hollensen, 2015). There must be proper tax structure for Bronze Snake shop in order to maintain business stability. Environmental factor- Environmental factor is one of the important factors in the marketing industry. Impact of weather condition will vary the demand for the customers of Bronze Snake shop business. Good weather will create more demand for global marketing while bad weather will led to decline in the demand factor. If there are weather imbalances, then there will be problem in economic activity of this industry as no demand will lead to low sales and production will decline. Due to natural calamities also, there can be low growth in the sales of this business. Product lifecycle analysis Product life cycle According to the theory of product life cycle, there are four stages of a product or the organization as a whole (Stark, 2015). These four stages are introduction, growth, maturity and decline. The first stage is the introduction stage. In this stage, products are being introduced in the market. In the case of the Bronze Snake shop, new retail goods such as man or woman wear in new designs. However, in this stage, the organizations should initiate extensive promotional and marketing activities to increase the customer awareness in the market (Zhurkina, Ukhanova Nikishin, 2015). This is due to the reason that, the more will be the customer awareness around the newly introduced product, the more will be the interest of the customers to have the access. Thus, the sales will be increased. One advantage that can be leveraged by this organization is the price skimming (Spann, Fischer Tellis, 2014). It will help them in charging high introductory prices at the initial stage. The more will be the initial buzz around the product, the more effective will be the price skimming strategies. The next step will be the growth stage. In this stage, the market share of the particular product is increasing with the increase in the market share and demand. In the case of bronze snake shop, the market for their newly introduced product is increasing in this stage. Thus, the key responsibility for them in this stage is to increase the market area of the product by penetrating in new markets (Baker, 2014). It will help to increase the market share of the product. In addition, the other aspects such as the retail counters should be increased to meet the growing demand of the customers. The more effective and timely will be the delivery, the more will be the retention of the customers (Khan, 2012). The promotional activities should be maintained as in the introduction stage and may be enhanced to reach out to the larger audience. Pricing strategy should be maintained according to the trend of demand in the market. If the demand is growing even in the case of the price skimming, the n it should be maintained, otherwise, the price could be slightly reduced to target the larger number of customers. The next step is the maturity stage. In this stage, the demand and the market share of the product is all time high and the market is nearly saturated with no more chance of increase in the market share. However, in the case of the bronze snake shop, there are certain they should initiate strategies in order to extend the life cycle of the product (Zhang et al., 2015). The women and mens wear should be slightly tweaked in order to change the appeal to the customers. Moreover, competitors analysis should be done in this stage to determine the competitive advantages of the substitute products in the market. It will help to identify the features of the similar items, which can be modified in their products by bronze snake shop. Pricing strategy should be implemented according to the demand in the market. The price skimming policy should be junked and it should be lowered to attract more number of customers. Various discounts and rebates should be offered to the customers in order to mot ivate them in buying their products. In this stage, the promotional activities should not be about increasing the customer awareness but featuring the distinctive features, which will enable the customers to compare with the substitute products (McAuley, Pandey Leskovec, 2015). Another strategy that may be initiated by them is to enter in a new market. This is due to the reason that, the existing market is already saturated and there no chance of extending market share. Thus, entering in the new market will help them to start a new life cycle for their existing products (Cruesen Lejour, 2013). Eventually it will extend the life cycle of the product to a large extent. The last stage is the decline stage, which state that the life cycle of the product is coming to an end. Thus, in this case, there is less possibilities of extending the life cycle to a large extent. However, initiation of a few strategies will help to have some small extension. One of the key strategies that can be implemented is modifying the existing product. In the case of the Bronze snake shop, they can modify their product portfolio according to the current trend in the market. It will have some distinctive aspects for the product in the market. The price should be kept as low as possible to attract more customers in the last stage. Promotional activities should also be kept low due to the fact that it will not garner any more profit for the organization. The last step should be the discontinuation of the product to make way for a new product. BCG matrix BCG matrix states the status of the products in terms of the case usage and cash generation. Cash generation refers to the market share the particular products holds and cash usage refers to the growth rate of the product in the market with having more investment in various activities such as promotional activities (Mathews et al., 2016). In this matrix, the first aspect is the star, which refers to the product, which is having high market share as well as high growth rate in the market. For Bronze snake shop, the women cloth line falls in this category. This is due to the reason that, they invest the maximum amount in promoting this product line and new products under this product line are being introduced more often. Moreover, the key revenue-generating product is the women wear for them. The next aspect is the question mark. It represents the low market share with having high market growth rate. These products are in the growth stage. In the case of Bronze snake shop, women apparels and accessories are in the growth stage with having lower market share. The promotional activities are being done most for this product line. The next aspect in this matrix is cash cows. This represents products having lower growth rate but higher market share. Products in the matured stage stay here. In the case of bronze snake shop, men cloth line falls in this category. This is due to the fact that, they have introduced mens wear first in their business and with the time being, it became the market leader. However, the market for this category became saturated for them and thus, the growth rate is slowing down. The last aspect is the dogs that refer to the low market share and low growth rate. These products are in the decline stage with lowering market share and market growth rate (Gandhi, Lu Shi, 2013). In the case of Bronze snake shop, the niche brand launched by them to cater to the high-end male customers is on the declining stage. The target market for it was small and the product was not well accepted by the customers. Ansoff matrix Ansoff matrix states two major aspects of market and the products. Each one has been classified in new and existing ones. It helps the organizations in determining their strategy according to the status of their market and offerings. According to this matrix, there are four way to expand the market. The first aspect is the market penetration. It refers to the penetration of the existing market with the existing product. In the case of the Bronze snake shop, they can introduce variants in different price level to further penetrate in the existing market. The next step is the product development (Gmelin Seuring, 2014). Bronze snake shop can introduce a new product line to fill the identified gap in the existing market. It will help to expand the existing market with new products. The next step is the market development. Bronze snake shop can foray in a new market with their existing products. It will let them to not invest in developing new products. Moreover, the life cycle can be extended with the help of market development. The last step is the diversification. Under this step, Bronze snake shop can diversify their business line to venture in different product category. They can venture in footwear along with cloth line. This will help them to target new market with new products. Customer analysis Customer analysis of Bronze Snake shop depends on the marketing business. Marketing business is dependant totally on customers need and preferences. It includes various attributes of customers like customers nature, sentiments, and requirement (Hult Ketchen, 2017). They have the equal influential role just like the supplier in the profit of the organization or business industry. It is the critical aspect to the marketing strategy. Customer analysis is one of the most important aspects of Bronze Snake shop (Hsu et al., 2016). Therefore, if the business owner fails to analyze their customers, they will not be able to run their business with smooth and stability. To analyze customers Bronze Snake shop requires three features to consider and they are firstly, to identify the target customers, then to understand their needs or requirements, and lastly, to show how the new arrivals in cloths and accessories matches the customer needs. There must be individual face-to-face proper negotiations between the seller and the buyer (Kim, Shin, Min, 2016). The seller should collect adequate information regarding buyers preferences in order to sell the exact product with all the requirements. Regardless of the business type, customer analysis depends on demographic details, customer interest, location, communication, demographic details includes name, age , gender and job designation (Serrat, 2017). Customer interest involves customer satisfaction level after the purchase of the product and it involves the good communication with the customers. For customer analysis, one can collect information from the existing customers about the business and their services (McDonald Wilson 2016). It also influences the customers largely in the market. Diversity and innovation leads to more number of customers in these types of business. Competitor analysis Local direct and indirect- Competition depends on business success as well as on the type of consumers whether it is local, direct or indirect. Success of Bronze Snake shop greatly depends on the identification of potential customers. It includes proper conduct of customer analysis also the profits statement of the business. A well-established competitor allows the Bronze Snake shop to collaborate with those business partners that can create direct competition in order to attain maximum profit (Nykiel, 2016). The purpose of analyzing the competitor is to study the business, create a report of future market trends, effect of demand and supply, marketing strategy, to raise the market share, to study various market trends and variables and to create plans for expansion of business (Peppard Ward, 2016). Competitor matrix- Competitor gives the strength and weakness analysis of the Bronze Snake shop on addition to this; it includes various threats and opportunities of the business. A competitor focuses on the business profitability, size of the business, reputation and goodwill, position in the market, strength and weakness factor. The competitor analysis also depends on the statistical, qualitative and quantitative report of the Bronze Snake shop (Peppers Rogers, 2016). If the Bronze Snake shop gets good remarks for their products then they should continue for long-term sale for future generations as it leads to long term competition. Competitive factor also depends on brand quality and innovation of the product (Percy Elliott, 2016). A good success with strong reputation creates tough competition in the market. The marketing mix of the Bronze Snake shop with the other competitors was followed in the table below: Factors Bronze Snake shop Clothing retailing in Australia Cotton on clothing Pty. ltd Fast future brands Pty ltd Industry Product features Retail industry Branded, standard quality in clothes Retail industry Consumer goods and clothing Retail industry Footwear, clothing and consumer accessories Retail industry Fashion retail shop Benefits Unique, innovative Global demand Customer satisfaction, more profit Stylish, trendy and high demand Product diversity, variety of choices Growth Revenue (Annual sales) 468.17 billion $8.85 million 3.9 billion $19 billion $80.818 118 billion A $2billion A $1.5 billion Threat Opportunities Poor quality will discourage customers Modern technology will lead to more business Economic uncertainty Franchise and chain stores Substitute effect Greater customer satisfaction leads to expansion of business and high profit Lack of information create poor sales High standard fashion and advertisements will attract more customers Market share level 7.4 % 2.4% 5% 4 % Table: Marketing matrix of Bronze Snake shop SWOT analysis Referring to the strength of Bronze Snake shop, then there are few factors that can lead to success and stability of the industry. To be different from other industry, Bronze Snake shop should possess some unique attributes like innovation and this is what marketing business is about (Pride Ferrell, 2016). Innovation comes from more and more of research and development in respect of that particular industry. When the Bronze Snake shop performs well it creates more competition due to high price and success, further creates demanding industry (Slack, 2015). Expand of industry occurs because of increasing in demand, thereby increasing in demand leads to increase in production and output growth for Bronze Snake shop. On the other side, strength comes from correcting the weaknesses. Every industry has positive and negative attributes. As it is marketing business, hold top position therefore, Bronze Snake shop creates huge competition in the market (Spyropoulou et al., 2017). Low advertising, poor quality products, lack of information and high prices for the commodities can act as weakness to the business. Therefore, Bronze Snake shop when consists of low sales and productivity with adequate knowledge creates threats in terms of decline in consumer, low level output and more rivals (Strauss, 2016). Opportunities for Bronze Snake shop can be in the form of advancement in the means of resources, investment in the technology and creative ways to expand business (Whittington et al., 2017). More encouragement in the marketing can create more job opportunities leading to more competition and profit. Marketing objectives One of the key marketing objectives for Bronze snake shop will be to initiate strategies to extend the life cycle of the products in the matured and declining stage. Another objective will be to search for new markets to enter with their existing products. It will further extend their products life cycle along with enhancing the market share. To diversify in related product line in order to reduce the dependence from the single product line and catering to more number of customers. Brand positioning strategy The brand positioning for Bronze snake shop should be done brand specific due to the reason that it will help to cater to diversified customer segments. Branding of the entire umbrella organization will enable to reach to a particular market segment (Xie, 2012). On the other hand, brand specific branding will help to position a certain brand according to criterion of the target segments. Thus, the target audience will be more in this case. Brand positioning map The branding strategy of Bronze snake shop will be done according to the brand-positioning map. In accordance to the brand-positioning map, the main product lines of them including, women, men cloth line and footwear will be classified according to the quality and price (Hassan Craft, 2012). However, the main concentration will be towards the higher end brand of having high price and better quality. The brand equity garnered from the higher end products will help to push the sales of the lower end products. The brand will be classified mainly in two groups of higher price and higher quality and lower price and lower quality. It will help them to cater to both the lower and higher end customer segments. Recommended marketing strategies One of the key recommended strategies will be choosing the right marketing mix for the target market. In the case of the niche market of higher end footwear, the product should be having higher quality, which will be accepted to the niche market. Moreover, the exclusive appeal should be maintained for the products (Toften Hammervoll, 2013). The price should be on the higher side, which will further increase its exclusivity. The place selected will be the posh areas, which will be acceptable and provide convenience to the target customers. Promotion should be done in the medium which is having presence in the niche market. Availability of the products on the online marketplace should be made available. It will help to reach out to more number of customers effectively. In this case, the place selection will only be the online platform (Wang et al., 2013). The product portfolio will range from higher end to lower end. Pricing will also be done accordingly ranging from to higher to lower price. Promotional activities will be done extensively in every medium, preferably in the social media. Another potential segments are the flying customers which can only be attracted by discounts and offers. Products will be mostly from the mass product line with having heavy discounts. Price will be as low as possible to attract more of them. Place will be the offline stores having most visibility among the customers. It will help to aware the customers more effectively. Promotion will be done in the mass media to attract and reach out to more of the targeted customers. Another strategy to attract the mass-market segment is to having more variants and designs across different price segments. More products depth and width will help to cater to more diversified customer requirement. The price will be also be in accordance to the requirement and diversified (Kumar, Gaur Pattnaik, 2012). Place will be both offline and online to reach out to most number of customers possible. Promotion will be extensively done and will be done using all the marketing medium. Tools to initiate effectiveness of the marketing strategies Various measures will be initiated to measure the effectiveness of the recommended marketing strategies. One of the key tools will be the customer feedback mechanism. It will help to determine and compare the market trend before and after the implementation of the strategies. Thus, the effectiveness and the area of improvement can be identified. Another recommended tool will be the determination of the sale performance. It will help to determine the performance of the organization before and after the strategy implementation. Determining the average life cycle of the products will help to identify the differences in the entire life of the product before and after the strategy implementation. Conclusion The report gives an overview of the marketing strategy of Bronze Snake shop with its functions and various stages involved in marketing strategy. The paper gives the scope, aim and mission of the company. Along with this, it gives the internal environment analysis using product services and brand identification, in addition to internal analysis of strength and weakness of the company is given. Marketing strategy when achieved with all the plans and procedure leads to more productive output and goodwill of the business. The recommended marketing strategies are beig discussed here in this report, which will help to enhance their performance in the market. In addition, the measuring tools are also being discussed to determine the effectiveness of the strategies. There was a brief note on the Bronze Snake shop. Bronze Snake shop is a retail industry that uses creative marketing strategy for its growth and profit. It aims for creating unique and innovative marketable products with reasona ble rates in order to create more supply and demand. This creates marketing competition for Bronze Snake shop among its rival industries. Using pestle and SWOT analysis, it gives the external view on the Bronze Snake shop and its marketing strategy. References Armstrong, G., Kotler, P., Harker, M., Brennan, R. (2015).Marketing: an introduction. Pearson Education. Baker, M. J. (2014).Marketing strategy and management. Palgrave Macmillan. Baker, M. J., Saren, M. (Eds.). (2016).Marketing theory: a student text. Sage. Channon, D. F., Jalland, M. (2016).Multinational strategic planning. Springer. Creusen, H., Lejour, A. (2013). Market entry and economic diplomacy.Applied Economics Letters,20(5), 504-507. David, M. E., David, F. R., David, F. R. (2017). The quantitative strategic planning matrix: a new marketing tool.Journal of Strategic Marketing,25 Dwyer, L., ?orak, S., Tomljenovi?, R. (2017). Introduction. InEvolution of Destination Planning and Strategy(pp. 1-14). Springer International Publishing. Felix, R., Rauschnabel, P. A., Hinsch, C. (2017). Elements of strategic social media marketing: A holistic framework.Journal of Business Research,70, 118-126. Feng, H., Morgan, N. A., Rego, L. L. (2017). Firm capabilities and growth: the moderating role of market conditions.Journal of the Academy of Marketing Science,45(1), 76-92.4), 342-352. Gandhi, A., Lu, Z., Shi, X. (2013).Estimating demand for differentiated products with error in market shares(No. CWP03/13). cemmap working paper, Centre for Microdata Methods and Practice. Gmelin, H., Seuring, S. (2014). Determinants of a sustainable new product development.Journal of Cleaner production,69, 1-9. Grant, R. M. (2016).Contemporary strategy analysis: Text and cases edition. John Wiley Sons. Hassan, S. S., Craft, S. (2012). Examining world market segmentation and brand positioning strategies.Journal of Consumer marketing,29(5), 344-356. Hollebeek, L. D., Conduit, J., Brodie, R. J. (2016). Strategic drivers, anticipated and unanticipated outcomes of customer engagement. Hollensen, S. (2015).Marketing management: A relationship approach. Pearson Education. Hsu, C. C., Tan, K. C., Mohamad Zailani, S. H. (2016). Strategic orientations, sustainable supply chain initiatives, and reverse logistics: Empirical evidence from an emerging market.International Journal of Operations Production Management,36(1), 86-110. Hult, G. T. M., Ketchen, D. J. (2017). Disruptive marketing strategy.AMS Review, 1-6. Khan, I. (2012). Impact of customer satisfaction and retention on customer loyalty.International Journal of Scientific Technology Research,1(2), 106-110. Kim, N., Shin, S., Min, S. (2016). Strategic marketing capability: Mobilizing technological resources for new product advantage.Journal of Business Research,69(12), 5644-5652. Kumar, V., Gaur, A. S., Pattnaik, C. (2012). Product diversification and international expansion of business groups.Management International Review,52(2), 175-192. Mathews, S., Bianchi, C., Perks, K. J., Healy, M., Wickramasekera, R. (2016). Internet marketing capabilities and international market growth.International Business Review,25(4), 820-830. McAuley, J., Pandey, R., Leskovec, J. (2015, August). Inferring networks of substitutable and complementary products. InProceedings of the 21th ACM SIGKDD International Conference on Knowledge Discovery and Data Mining(pp. 785-794). ACM. McDonald, M., Wilson, H. (2016).Marketing Plans: How to prepare them, how to profit from them. John Wiley Sons. Nykiel, R. A. (2016). Marketing Your Business-A Guide to Developing a Strategic Marketing Plan. Peppard, J., Ward, J. (2016).The strategic management of information systems: Building a digital strategy. John Wiley Sons. Peppers, D., Rogers, M. (2016).Managing Customer Experience and Relationships: A Strategic Framework. John Wiley Sons. Percy, L., Elliott, R. H. (2016).Strategic advertising management. Oxford University Press. Pride, W. M., Ferrell, O. C. (2016).Foundations of marketing. Cengage Learning. Serrat, O. (2017). The future of social marketing. InKnowledge solutions(pp. 119-128). Springer Singapore. Slack, N. (2015).Operations strategy. John Wiley Sons, Ltd. Spann, M., Fischer, M., Tellis, G. J. (2014). Skimming or penetration? Strategic dynamic pricing for new products.Marketing Science,34(2), 235-249. Spyropoulou, S., Katsikeas, C. S., Skarmeas, D., Morgan, N. A. (2017). Strategic goal accomplishment in export ventures: the role of capabilities, knowledge, and environment.Journal of the Academy of Marketing Science, 1-21. Stark, J. (2015). Product lifecycle management. InProduct Lifecycle Management (Volume 1)(pp. 1-29). Springer International Publishing. Strauss, J. (2016).E-marketing. Routledge. Toften, K., Hammervoll, T. (2013). Niche marketing research: status and challenges.Marketing Intelligence Planning,31(3), 272-285. Wang, Y., Wang, S., Fang, Y., Chau, P. Y. (2013). Store survival in online marketplace: An empirical investigation.Decision Support Systems,56, 482-493. Whittington, R., Yakis-Douglas, B., Ahn, K., Cailluet, L. (2017). Strategic planners in more turbulent times: The changing job characteristics of strategy professionals, 19602003.Long Range Planning,50(1), 108-119. Xie, Y. H. (2012). Foreign firms' brand extensions in a host market: strategic factors in international branding strategy.Journal of Marketing Theory and Practice,20(1), 105-118. Zhang, Y., Luo, X., Buis, J. J., Sutherland, J. W. (2015). LCA-oriented semantic representation for the product life cycle.Journal of Cleaner Production,86, 146-162. Zhurkina, L. S., Ukhanova, J. A., Nikishin, A. F. (2015). Promotional activities in trade and different ways to improve them.Austrian Journal of Humanities and Social Sciences, (5-6), 157-158.