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Describe the Target Market

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Reference no: EM132423934

Assignment: Starting Your Marketing Plan

Before you begin your marketing plan, you must determine your target market, or who will most likely need and/or want your product or service. The second "P" of the four P's of marketing stands for Place, or the distribution of your product or service. Where and how will the customer obtain your product or service?
Complete the following checklist items in a minimum 250-word response, double-spaced, in Times New Roman 12-point font with an additional title page.

Question 1: Describe the target market.

Question 2: Describe the "place" or distribution (the second "P" of the four P's) that addresses the target market in your marketing plan.

The Marketing Plan

  • Apply marketing principles to a small business.
  • Demonstrate college-level communications through the composition of original materials in Standard English.

In an expository essay, you will finish your short marketing plan that you started working on in the last unit. You will describe what your products and/or services will be, where you will distribute them, and which pricing and promotional strategies you will use and why. You must include and cite at least one reference other than the textbook to support your choices.

Checklist:

Introduction:

  •  Provide an introductory paragraph to briefly explain your business and the intention in writing this paper.
  • Product Section:

 Question 1: Describe what your business will be selling: describe the products and/or services (name 2-3 main ones) and the value proposition.

  • Place Section:

 Question 1: Describe your distribution plan.

  • Pricing Section:

 Question 1: Based on your research of the competition, describe the competition's product/service and provide the price. Then describe the pricing strategy you will use and how the competition's prices have affected your competitiveness in the marketplace.

  • Promotion Section:

 Question 1: Describe how you will promote your product/service based on your target market and place (distribution) that you previously determined.

 Question 2: Explain: (1) How your customers will know what you are offering, and (2) why they will they choose your product/service over your competitors. Describe your business's core competencies. How will you build relationships with your customers?

  • Conclusion:

 Question 1: Provide a short paragraph in conclusion.

Reference no: EM132423934

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