Examine basic components of marketing plan

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Reference no: EM131991415

Chapter 11 : Marketing-JAMES MONSEES AND ADAM BOWEN: PLOOM.

Chapter 9 : Establishing the Legal Foundation

Marketing, Law, and Ethics

Part 1. Answer the following questions, within 100 words minimum

1. Provide various potential legal forms of business for a company. (Chapter 9)

2. Evaluate legal ethical issues in your industry (Electrical Contractor), including contracts, insurance, and regulatory requirements.

(Chapter 9)

3. Examine basic components of marketing plan, including pricing models, promotion, and sales management. (Chapter 11)

4. Assess technology and intellectual property considerations, as well as market trends that may impact business. (Chapter 9 & 11)

Business Ownership

5. Why is choosing the appropriate form of business ownership important for a business you want to start?

6. What short- and long-term benefits are associated with each form?

Business Ethics

7. Explain how an entrepreneur business ethics might affect his success in a venture.

8. Why might an entrepreneur become tempted to participate in unethical actions?

9. How can an entrepreneur instill ethical behaviors within the company?

Part 2. Intellectual Property Issues

Familiarize yourself with the NAICS codes associated with your business industries (ELECTRICAL CONTRACTOR COMPANY)

Discuss how the NAICS codes relate back to your businesses, as well as potential business opportunities that you may not have considered yet as well as how this could potentially change your type of business.

Discuss the intellectual property issues in the industries represented by all team member companies, and identify some of the common and unique issues to these industries.

Prepare a 525- to 700-word paper in which you include the following:

• How would you protect your intellectual property rights?

• How would you ensure that you do not violate intellectual property rights of others?

• How does the Internet increase the scope of these violations?

• Why is ethical conduct important in respecting the intellectual property rights of others?

Format your paper consistent with APA guidelines.

Part 3. Competitive Analysis and Marketing Considerations

In this assignment, you will identify the basic components for your marketing plan, with a major focus on researching your competition. The goal is simply to identify these items since you will be completing a more detailed marketing plan in Small Business Marketing.

Write a 525- to 700-word paper in which you identify and describe the competitive landscape for your product(s)/service(s) and the key advantages that your product(s)/service(s) offer over your competitors.

Also briefly describe the kinds of marketing, sales, distribution, and customer service activities that you plan to use to attract and maintain potential customers.

Answer the following questions in your paper:

• Who are your direct competitors? What do they offer, and what advantages might their product(s)/service(s) offer over yours? (Note: if there are no direct competitors in the marketplace, consider related industries where consumers are currently spending their money, or potential competitors that will follow your lead)

• What advantages does your product(s)/service(s) offer over your competition? (Note: your advantages may be different for different types of customers or competitors)

• Who are your target customers? How will your product(s)/service(s) appeal to their specific needs?

• How do you plan to advertise your product(s)/service(s)? (e.g. on the Internet, social media, email, t.v./radio ad, newsletter, word-of-mouth) How will this type of marketing appeal to your target customer(s)? How will you highlight the value or unique characteristics of your product(s)/service(s)? What types of marketing will you use to attract new customers and grow your business?

• How do you plan to distribute your product(s)/service(s)? (e.g. Internet, download, physical store, government contract, reseller/distributor, door-to-door, tradeshow) Will it be a one-time purchase, repeat business, or subscription service? What forms of payment will you accept? What kind of staffing will you need to support your sales efforts?

• What kind of customer service will you provide in support of your product(s)/service(s)? (e.g. phone, email, chat, training, user guides, videos) How will you respond to product/service issues and customer complaints?

Summarize your ideas and research, and cite sources as needed.

Reference no: EM131991415

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