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Find the primary and secondary target markets

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Reference no: EM13732086

You have accessed the Interactive Marketing Plan tool and used the step-by-step guide to complete Part A of your marketing plan. You are required to submit a marketing plan for a hypothetical product-based company. Your plan must include the company's background information, and information collected from Steps 1-4 of the Interactive Marketing Plan, located in the course shell. Note: Some elements may not be covered in the Interactive Marketing Plan and will require additional research. Note: You may create and / or make all necessary assumptions needed for the completion of this assignment.

Write a five to six (5-6) page paper in which you:

Write an introduction to your company. Describe your company, its location, and the product it makes or the service it provides.

Develop an environmental analysis that includes competitive, economic, political, legal, technological, and sociocultural forces.

Determine the primary and secondary target markets for your company. Next, analyze the primary and secondary target markets that you identified for your company. Be sure to cover the 4Ps, 5Cs and STP.

Decide the main goals that you would like to achieve within the next year (short term) and the mains goals that you would like to achieve within the next five (5) years (long term). Determine the most appropriate ways to measure both short- and long-term goals. Note: Consider the following metrics: tracking downloads of Website content, Website visitors, increases in market share, customer value, new product adoption rates, retention, rate of growth compared to competition and the market, margin, and customer engagement.

Develop both a SWOT analysis and needs analysis for your product. Each analysis should examine four (4) strengths, weaknesses, opportunities, and threats for your company.

Use at least four (4) academic resources as quantitative marketing research to determine the feasibility of your product / service. These resources should be industry specific and relate to your chosen product / service. Note: Wikipedia and other Websites do not qualify as academic resources.

Reference no: EM13732086

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