Discuss a marketing strategy commonly used in new businesses, franchises, and take-overs. Then, give three examples of the tools a business might use with this strategy?

 

Answer:

marketing strategies;

New businesses-market research and evaluation for entry strategy

Since they are new to the industry, new businesses must adjust to new marketing environments. Market analysis and assessment for entry policy is a successful market entry strategy. Parallel to the global movement toward internationalisation, the word "internationality" has been added to the marketing lexicon. In reality, in a business environment that is more global than ever before, the foreign marketing viewpoint has now been incorporated as cutting-edge managerial thought. The subject of the best global market entry strategy is the central theme of this study, and it is perhaps the most difficult in the process of international marketing.

Franchises-the franchises advertise using the name of the firm providing franchise rights

The franchises use the logo of the company that provides the franchise rights to advertise. This is because franchise businesses in their respective regions can adopt the parent company's direction and strategies. In business format franchises (the most popular type), a company grows by providing individual business owners with an existing business, including its name and trademark. The franchiser corporation usually helps small business owners a lot in starting and operating their companies. Fees and dividends are paid by the company owners in exchange. The franchisee, in most instances, often purchases products from the franchisor. Fast food franchises are a good example of this style of company. McDonald's, Burger King, and Pizza Hut are all well-known examples.

Take-overs-integrate their marketing strategies for optimal performance

take-overs-integrate their marketing strategies for optimal performance. The take overs involves two or more firms coming together to carry out their operations. The firm will integrate their marketing strategies as a way to ensure efficiency in their operations. Integrated marketing is a method of bringing all forms of marketing engagement together, such as advertisement, product promotion, public relations, direct marketing, and social media, to provide a cohesive and streamlined interface for customers while interacting with a brand/enterprise. The convergence of marketing platforms has never been more complex or necessary than it has been in the last decade, with the launch of a slew of new digital marketing channels. There's a lot to think about when we head into 2021, and we've got the tools to help you.

The tools are as;

new businesses-market intelligence tools

new businesses-The market intelligence tools are crucial for any process that involves new firms.The goal is to evaluate the market conditions before investing or beginning the marketing process. Data analytics, data warehousing, dashboards, and monitoring are examples of business intelligence software. Market intelligence software, unlike competitive intelligence, is based on internal data produced by the company rather than data obtained from outside sources. Marketing intelligence platforms help companies better understand their market, their competitors' performance, new patterns, and how their consumers' and prospects' search behaviour is evolving. The majority of these tools gather data from a variety of sites and consolidate it into a single database.

franchises-advertisement tools 

franchises-franchises utilize the advertisement tools to ensure that the awareness on the various brands and services is enhanced for optimal performance. When opposed to establishing your own company, franchising is better because it offers resources to help you establish a profitable business from the outset. On the other hand, franchisees are responsible for a number of tasks, the most important of which is local promotion. Every franchise requires a company website with the most up-to-date accessible web infrastructure to draw eligible local leads.
This website will appear as local prospects, usually on their cell phones, check for your goods or services, and will guide them to your door.

take-overs-integrated marketing communication tools

take-overs-integrated marketing communication tools.Firms engaged in takeover decisions. Having a great product available to your customers at a great price does absolutely nothing for you if your customers don't know about it. That's where marketing comes in: it connects you with your target markets and communicates what you have to give them.

Promotion in today's marketing world entails integrated marketing coordination (IMC). In a nutshell, IMC entails using a number of separate engagement mechanisms to produce a single message and influence consumer expectations and behaviour. You will almost definitely been the subject of IMC practices as a seasoned customer in the English-speaking world.

Reference;

https://www.forbes.com/sites/theyec/2018/08/31/the-one-tip-you-need-for-a-successful-marketing-strategy/

https://courses.lumenlearning.com/boundless-business/chapter/franchising/

https://www.smartinsights.com/traffic-building-strategy/integrated-marketing-communications/what-is-integrated-marketing/