(SOLUTION) BUSN115N Week 7 Discussion: Marketing your business

Required Resources

Read/review the following resources for this activity:

  • Textbook: Chapters 11 and 12
  • Lesson
  • Week Three discussion response
  • Minimum of 1 scholarly source

Initial Post Instructions

Think back to the business you proposed in week three’s discussion about entrepreneurship. Briefly propose a marketing strategy for your business. Consider the following questions.

  • Who is your target market?
  • What is your competitive advantage?
  • How will you use the five elements of the marketing mix: product, price, place, promotion and people?

Follow-Up Post Instructions

Respond to at least one peer. Further the dialogue by providing more information and clarification.

Consider the following –

  • How well was the competitive advantage analyzed?
  • In your opinion, would the marketing work? Why or why not?
  • What else would you propose to help your peer market his/her product or service?”

Writing Requirements

  • Minimum of 2 posts (1 initial & 1 follow-up)
  • APA format for in-text citations and list of references

SOLUTION

The Nursing Home Target Market

For our nursing home business, the ideal target market will be the aging patients looking for a living residence. The aging of baby boomers is a common and well discussed concept in the modern day. Most of the baby boomers who played a crucial role in shaping the 1960s and 1970s culture, are quite dissatisfied by the available nursing care options availed to them as they age. The business is targeted to cater to the emergent needs of this particular clientele.

Competitive Advantage

Our competitive advantage lies in establishing an all-inclusive decision-making plan, whereby even the patients are actively involved in their living and treatment plans. Engaging the clients will give them a sense of importance, which will positively lure them to create a healthy community within the facility. Additionally, we have a team of highly skilled staff, who clearly understand the structure and needs of a nursing home. Considering that our business will comprise of a full-time assisted living space for the aging clients, we expect that the customers will be really satisfied with the fulltime care given.

The Five Elements of the Marketing Mix:, Price, Product, Promotion, Place and People

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