Week 4 Marketing Plan: Phase III Essay Example

locations. This planning stage typically takes about a month. The second stage is introduction where employees may distribute flyers to inform customers about the new service.

Macy’s may promote their new service through advertising in newspapers and commercials to reach out to potential customers during the introduction stage. It could take about three to six months for the service to gain popularity as expected by the company. In the growth stage, after six months, customers will attend classes more frequently and bring friends on specific nights when a product of their interest will be served. Some people may find the classes to be valuable and continue attending for two years or more during the growth stage.

It is possible that some people will not attend the cooking class again because it did not meet their expectations. To ensure the company continues to expand, it is important to concentrate on meeting customers' interests in cooking. The maturity stage should be a major concern for the company as fewer people will attend classes when this stage is reached. The decline of the service will begin when fewer customers attend the classes.

To maintain customer interest and retention, the company must keep the cooking classes interesting as they reach maturity. If interest declines, offering new options can bring the service back to growth or maturity stage. If unable to do so, discontinuation may be necessary. It is crucial for Macy's to identify differentiation and positioning strategies for their new cooking classes to serve their customer base.

Customizing the marketing mix for the cooking class will result in meeting customer requirements and establishing an edge over rivals. Moreover, highlighting the

cooking classes to a distinctive consumer base that fits their culinary necessities is essential. Identifying differentiation tactics also assists in combining a market mix that aligns with Macy’s service objectives. It is imperative to position Macy's new cooking classes according to how customers perceive existing or forthcoming cooking classes to distinguish itself from competitors (Perreault, Jr., Ph.D.).

Ph.D.s D. Cannon and McCarthy

Macy's will use various methods of market segmentation to ensure the success of their cooking classes. This includes a geographic segment to divide store locations into regional markets, a demographic segment to classify the market based on age, income, and race for advertising purposes, and a behavioristic segment to cater to loyal customers, class rates, and course types. To effectively position the cooking classes and identify the target market, Macy's will use a positioning statement: "For cooks aged 18-80 who desire a fun and exciting way to learn how to cook healthy food, Macy's cooking classes provide a unique social experience that energizes both the body and soul." This statement highlights the desired target market, product type, main benefit or differentiation point, and reasons for buyers to believe in the firm's claims (Perreault, Jr., 2011).

, Ph.D., Cannon, Ph.D., & McCarthy, Ph.

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In 2011, D. suggested that Macy's could use differentiation and positioning strategies to strengthen their advertising campaign and promotions for their cooking classes, focusing on their primary markets. It is important to also implement an appropriate pricing strategy.