Reference no: EM133167979
"Entrepreneurs must determine what to sell, to whom and how often, on what terms and at what price, and how to get the product or service to the customer. In short, a marketing plan identifies a company's target customers and describes how it will attract and keep them. The process does not have to be complex." (Scarborough & Cornwall, 2015).
Overview
You will address some of the basic areas within a marketing plan and help to refine your strategies for creating a successful business.
Using the business from the assignment, Feasibility Analysis,
Identify its primary target market.
Specify three methods you will use to research customer needs and wants.
Describe the marketing mix: a) product, b) pricing strategy, c) promotion, and d) placement or distribution.
Create a one-year advertising budget and plan that incorporates the use of various advertising media and publicity.
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Product or service
: Select a product or service and find a recent (2019) campaign that has promoted the product or service to consumers using a selection of techniques
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Develop marketing plan
: This course will be developing a marketing plan for a New Product Development (NPD) idea. Nature of the proposed solution
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Global trade environment
: Discuss the main success factors of the global brand. What is its marketing strategy, competitors and competitive advantage?
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Different products and services
: How do you remember the brand names of the different products and services that you use in your life?
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Identify its primary target market
: Identify its primary target market. Specify three methods you will use to research customer needs and wants.
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Define what is prospecting
: Define what is prospecting? Discuss why prospecting is an important and challenging task for salespeople.
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Choose magazine ads for three different consumer products
: Choose magazine ads for three different consumer products. Write a description of what you think the demographic characteristics of the targeted market are.
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Fixer upper-expanding the magnolia brand
: How will the components of the external environment impact Magnolia Brands' ability to realize their vision? Who are Magnolia Brands' major competitors?
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International marketing
: Discuss the advantages and disadvantages of secondary and primary research. Which type of research is probably best for micro-level analysis?
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