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Describe characteristics of the target markets that will affect product/service and pricing decisions.

by | Nov 13, 2022 | Marketing

 

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Part 1:
Continuing in the role of a marketing professional who has been tasked with completing a marketing plan for a client, refer back to the research you completed in the Topic 2 Part 1: Research as a starting point for the assignment. Conduct additional research related to consumer behavior, the company’s specific product or service, and the company pricing strategy, and use it to complete the “Marketing Plan Analysis and Presentation:
Part 2 – Research Template.”
Part 2:
Create a 15-20 slide PowerPoint presentation that summarizes your marketing plan analysis based upon the research you have conducted. Slides should address each of the key areas listed below and should include speaker notes that explain how the company could have used what it learned about consumer behavior, product or service, and pricing to help it develop a marketing plan in order to meet the company marketing objectives and business needs. Include a slide at the end of the presentation to cite your research sources.
Company Background:
Company name, vision, and mission.
Company marketing objectives.
Consumer Behavior:
Describe the customer segments and target markets.
Describe characteristics of the target markets that will affect product/service and pricing decisions.
Describe how the company differentiates its product and positions its brand.
Describe a consumer buying behavior model for this company and brand.
Product or Service:
Describe the product mix.
Describe the product lines.
Describe the service processes.
Discuss physical evidence of service, service scape, and ambiance.
Discuss the roles of company employees in service delivery.
Price:
Define the company’s pricing objectives and discuss whether the objectives are profit- or sales-oriented.
Provide example of current company pricing strategies.
Describe pricing tactics (discounts, etc.) that are used to drive short-term demand.
Part 3:
Continuing in the role of a marketing professional who has been tasked with completing a marketing plan for a client, refer back to the research you completed in the Topic 2 Part 1: Research and the Topic 5 Part 2: Product or Service and Price assignments. Conduct additional research related to place and promotion and use it to complete the “Marketing Plan Analysis and Presentation: Part 3 – Research Template.”
Part 4:
Add to the PowerPoint presentation you created in the Topic 5 assignment by creating five to eight additional slides that summarize your marketing plan analysis based on the research you have conducted about place and promotion. Slides should address each of the key areas listed below and should include speaker notes that explain how the company could have used what it learned about consumer behavior, product or service, and pricing to help it develop a marketing plan in order to meet the company’s marketing objectives and business needs. When creating the presentation, provide links to specific YouTube and social media site examples that illustrate the current company messaging and promotional techniques. The final presentation should provide a comprehensive look at how the brand promotes their products to customers.
Based upon what you learned from your research and strategy assessment, recommend a strategy the company could employ to increase profits and sales to the target market. Include two or three final slides that summarize and justify your strategy recommendation. For the presentation of your PowerPoint, use Loom to create a video. Include an additional slide for the Loom link at the beginning of the presentation, and an additional slide for references at the end of the presentation.
Place:
Describe distribution channels (direct, manufacturer to consumer, indirect, wholesalers/retailers, multichannels).
Discuss possible channel conflicts.
Promotion:
What forms of advertising and promotion does the company use?
What forms of media does the company use? Describe the media mix.
Illustrate the messages the company currently uses.
Strategy Recommendation:
Based upon your research findings for the marketing mix, recommend a strategy that you believe will increase profits and sales to the target market.
Cite your specific research findings to justify your strategy assessment and recommendations.

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