Business Finance
Understanding Target Markets, marketing assignment help- COURSE FIGHTER |
Purpose of Assignment
To develop effective relationship marketing, a company must first understand its targeted consumers buying influences and behaviors. This weeks assignment is the first part of the development of a marketing plan. It provides the foundation of the marketing plan and introduces the student to a variety of diagrammatic tools for understanding a business.
Assignment Steps
To develop effective relationship marketing, a company must first understand its targeted consumers buying influences and behaviors. In Week 2, create the Research section of your plan.
Create the research section of your marketing plan in minimum of 700 words.
Include at least 3 elements of the Research List of Topics (see list below):
Research List of Topics:
Primary Research
Secondary Research
Consumer Analysis
Customer Profile
Continuous Consumer Monitoring & Research
Environmental Scanning
Identify Market, Economic, Technological, Regulatory, Legal, Social, and Ecological Forces
Current Opportunities
Potential Future Opportunities
Current Threats
Potential Future Threat
Diagrams are not required but can be used to provide clarity and conciseness. Diagrams (and subsequent discussion) can include SWOT (emphasizes internal marketStrengths, Weakness, Opportunities, Threats) TOWS (emphasizes the external marketThreats, Opportunities, Weakness, Strength), PEST (Political, Economical, Social, Technological), SOAR (Strengths, Opportunities, Aspirations, Results), and/or STEEP (Social, Technological, Environmental, Economical, Political). All diagram(s) should be in APA format and must include a subsequent discussion of the diagram(s) providing insight and clarity.
Develop the first two parts of the Target Market section, which includes an overview of the demographics (age, income, family members, and birthdays) and psychographics (activities, interests, and opinions) analysis. This is not a detailed analysis but an overview (basic trends and insights from the data that is presented in annual reports and other SEC type filings).
Explain the insights you have gained from your inspection and analysis of the demographic and psychographic information you have found.
This assignment will be incorporated into overall marketing plan later in the course.
Cite a minimum of three peer-reviewed references.
Format your assignment consistent with APA guidelines.
P.S. I will provide summary info for the company selected for marketing plan.
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