Marketing Plan for The Times Newspaper Essay Example | Topics and Well Written Essays - 2750 words

Marketing Plan for The Times Newspaper - Essay Example This essay stresses that marketing strategy is primarily concerned with the process where a need satisfying product or service is exchanged for a certain value and there are mainly four variables that constitute a market offering and they are: product, distribution/place, price, and marketing communication. To a greater extent, the success of any marketing strategy employed by any company is strongly dependent on the effectiveness of its marketing communication. There must be a good flow of information between the buyer and the seller to enable the buyers to make informed decisions which always take precedence before the actual purchase. In its endeavor to establish a new product, The Times ought to adopt strategies that would allow them to clearly distinguish their target market in a bid to have some competitive advantage over other rival competitors who also operate in the same industry. This paper makes a conclusion that communication plays a very important role in marketing a product to the customers. The advent of the internet has brought about sweeping changes in the way organisations operate as well as market their products. There is need for an organisation to segment its market in order to clearly identify their target customers in order to have a competitive advantage over other rival competitors that may exist in the market. As noted, there is need for The Times newspaper to effectively use marketing communication in order to successfully launch a new product to the customers.