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Explain the insights you have gained from your inspection

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Reference no: EM133203270 , Length: 2 pages.

Assignment: Understanding Target Markets Essay

Purpose of Assignment

To develop effective relationship marketing, a company must first understand its targeted consumers' buying influences and behaviors. This week's 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.

Task

To develop effective relationship marketing, a company must first understand its targeted consumers' buying influences and behaviors.

The product selected for the marketing plan is the digital video capture product by INTEL necessary for promoting presentations of data and information, especially in educational setups. The product supports video capturing as well as picture-in-picture with suitable software allowing for the recording, editing, and publishing of rich video presentations in a variety of media formats . In a world that depends on availability and understanding of information for decision making, the product is vital in the presentation of appealing information to potential consumers necessary for decision making.

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

1. Current Opportunities

2. Potential Future Opportunities

3. Current Threats

4. Potential Future Threat

5. Diagrams are not required but can be used to provide clarity and conciseness. Diagrams (and subsequent discussion) can include SWOT (emphasizes internal market--Strengths, Weakness, Opportunities, Threats) TOWS (emphasizes the external market--Threats, 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.

6. 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).

7. Explain the insights you have gained from your inspection and analysis of the demographic and psychographic information you have found.

Reference no: EM133203270

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