Marketing Strategy, Target Market Strategy

OUr Marketing strategy:

Our marketing strategy focuses on building relationships with our clients, we seek to “expand market share in three ways: attracting new customers, increasing business with existing customers, and retaining current customers” (Lamb, 8).

 To do so we have identified our Target Market as male or female (ages 20-35) appreciates fashion, enjoys shopping, is up to date with current trends, is a foodie (enjoys the art of food). Will usually take pictures of their food and post on Instagram, Facebook, Twitter, etc. “Currently nearly half of the world's population, three billion people, are on the Internet” (Lamb, 51). The internet is a 4.2 trillion-dollar business. “Four out of five connections will be made via smartphones, tablets, and other mobile devices. Social media are making profound changes in the way we obtain and consume information—consumers are interacting; sharing beliefs, values, ideas, and interests; and, of course, making purchases at a dizzying rate” (Lamb, 51) Coco de Mode will utilize social media to reach and relate to our target market.

COCO DE MODE strives to maintain a strong presence on all social media outlets to reach and relate to our target market clientele. Clients will receive a 10% coupon on their next purchase by posting pictures on social media with #cocodemode. This is a form of market penetration “a marketing strategy that tries to increase market share among existing customers,” (Lamb, 17). by offering the 10% coupon through Twitter and Instagram we also attract new customers through our existing customers, which is a market development strategy. Through diversification marking strategy we aim to “increase sales by introducing new products into new markets” (Lamb, 17). To do so we have contacted local businesses to make custom treats with company logos on chocolate treats.