Marketing Strategy Options that Golds Reling, Inc. (Coursework Sample)

Marketing Strategy
From the scenario, suggest two (2) marketing strategy options that Golds Reling, Inc. could implement. Next, select the option that you believe will be most effective for the new product launch. Justify your response
Market strategy is an outcome, which emerges from a meticulous market analysis. Marketing strategy is something that brings about an impact to the entire organization. In order for businesses to be the number one in the market share and remain in the right track, they require to develop various market strategy options. In the provided case, Gold Relings can implement various market strategy options in order to develop its business. One of the options is that it can implement relationship marketing. This implies that Gold Relings should place its focus on creating relationships with their customers rather often attempting to sell them the products. Customers who love the Gold Relings products will also spend much on the company’s product. According to various researchers, this is strategy that works and is of significance to any other business.
Another market strategy option that Gold Relings should implement is word of mouth marketing strategy. This is the passing of information from one person to the other through oral communication. It is pleasure to customers to share with the organizational brands they are in need of worldwide. If Gold Relings apply this strategy, its customers will find a meaning in sharing stories of the organization’s favorite products as well as services.
Reference
Varadarajan, R. (2015). Strategic marketing, marketing strategy and market strategy. AMS Review.
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