Marketing plan ( market the city of toronto) Assignment

Marketing plan ( market the city of toronto) - Assignment Example This has the effect of improving on their revenue base. At the same time, companies want to gain global recognition. In essence, this is something, which is rather beneficial when it comes to business (Crouch, 2011). Various cities use different approaches in the course of their marketing. It is imperative to note that the method, which is to be used, is largely dependent on the expansive market. The financial outlay is something, which will influence the methods of advertising and marketing. The first thing, which is rather noteworthy, is to gain an understanding of these international markets. Thorough analysis has to be undertaken before the firm can even think of venturing into these markets. A feasibility study regarding the success of the business has to be done. This is particularly pertinent, as it will serve to point out whether the business will stand a chance of success in the new market. This is as opposed to going blindly into these markets without prior knowledge (Pepal l et al. 2005). The city, which is in perspective, in this case is Toronto. Toronto is a city, which is considered to be rather tech-savvy. At the same time, it is also considered as one of the best cities in North America when it comes to jobs that are related to Information technology. The environment in the city is one, which has attracted several major global firms. These firms have set up offices in the city. These include Xerox and General Motors just to mention a few. These developments put Toronto at a rather significant place when it comes to the developments that are attributed to jobs and employment opportunities. The city is also very flexible in the sense that it easily adapts to the changes that are happening in the world and picking up the latest trends that come by. One of the things, which seem to be rather influential in attracting people into the city, is to do with the good reputation, which the country has on a global platform. It is worth noting that people wil l always want to associate themselves with desirable things. The name and reputation of the city is already established. For this reason, the main thing, which should be focused on, is the development of the industries and institutions, which are existent in the city. For example, the educational institutions ought to be developed and marketed even more. This is because they are the primary institutions, which serve to attract foreign individuals into the city. The museums and art centers that are in the city are also important for attracting tourists into the city. The infrastructure which is in the city is significant and is in a position to support the number of people who might flock the city from foreign countries (Bunting & Filion, 2000). The other issue, which comes into perspective aside from the place, is the price. This price is in relation to the cost of living and that to do with other elements within the city. On average, the cost of living in the city is rather encoura ging (Lee & Lovekin, 2009). This is something, which is even pointed out by the average wage rate in the city. This is in the region of $24 per hour. There is quite a significant stability when looking at the economic condition in Toronto when comparing it to other major cities. The instances of price fluctuations are at a minimal. There is a significant promotion of the city and its associated elements. This is