Marketing Plan Essay

Although imperfect, marketing research will help define a marketing problem and opportunity by systematically collecting and analyzing information, develop relative findings, and help to develop the appropriate marketing actions. This marketing research can be done by implementing a five-step plan. The first step is to define the problem facing Prince Sports. Here, marketing research specific measurable objectives are identified. Next, the research plan is developed with any constraints on the research, the actual data needed, and how best to collect the required data. The third step of the research plan is to collect the relevant information or data. Prince Sports needs to collect primary and secondary data to make rational, informed marketing decisions. There are numerous ways to collect such data, two of which are panels and experiments, and data mining. Once the data has been collected, Prince Sports will be to analyze the different data and develop findings related to the data collected. Once the data has been analyzed, the results will be presented to Prince Sports leadership who are responsible for developing different marketing actions. The final step of the marketing research plan is to take the marketing actions and implement and monitor the recommendations. An

These surveys would ask questions to identify concerns and would work for them while riding one of their motorcycles. These are just personal attributes that would help to understand buyers views on our product of services. Then I would offer them to come in for a free ride and overview of the motorcycles that we are selling. Consequently, the pricing is a area that works to help the younger consumers. Personally I feel like this will not be and easy task, being that the younger age group are far more into new technology. As well as the overall look of the motorcycle. Therefore adding a little of each aspect to the design of the motorcycle would help convenience them to buy. Offering some incentives behind the purchase and a longer warranty can also help.

Research Reports and Internet Research – The internet is a very easy way to source secondary data that can be extremely useful as it is a good source of industry information. Some information can be available for free like the Australian beau of statistics, newspapers, council and magazines, some help maybe needed in determining the viability of the information and to analyse the results. Other professional research companies like Roy Morgan and Ibisworld will charge a fee for their reports. This may work well with surveys and experiment research as trends or environmental factors in the market could influence consumer consumption therefore giving invaluable information as to what may sell well or is needed in the current market. This method was chosen as it can be easier to obtain and cheaper than the other research methods. It can also provide information on the competition, which would evaluate what products they have been advertising and why.

age, location and income). Task 5 (A02/A03) Deadline 23rd November 2007Carry out both primary and secondary market research, in order to gain data which can then be used to 1. Analyse consumer attitudes, the AIDA model and available business resources 2. Identifies and explains from the data and analysis gained, which promotional activities would best used to achieve

* A survey was also designed to see if we could extract any insight into the consumer buying process, and identify behaviour drivers and any patterns.

(MARKET RESEARCH) We use market research to gain valuable insights about our customers, the market condition, and our competitive surroundings. We use this knowledge to build a more effective marketing plan. This focuses on specific information regarding our target market and the key factors that influence their buying decisions. When conducting this information, it is very important to keep in mind six marketing research questions which include Who, What, Where, When, Why, and How. Who is purchasing and consuming sport products and services. What is the competition, what do the customers want and need, and what factors influence purchase decisions. When is the purchase decision made and when is the purchase used. Where is the information sought and where is the decision made. Why is the purchase made. Last but not least, how is the product or service used. Our primary research is the direct contact we have with our clients, and by doing that we use focus groups to gather small groups of people together for a discussion with an assigned leader. We also engage in customer surveys for existing customers as well as potential customers. A few of the questions that are asked in our survey include do you attend a gym? How old are you? In a typical week, how many times do you exercise? What time do you normally attend the gym? Why would you want to join a gym? Do you usually go

So you're ready to get your first car! Congrats, but do you really know everything that is involved with the purchase of a vehicle. To someone who is new to this world, there are a lot of important factors to consider when buying a car. Read on and learn some helpful hints and tips.

A face to face survey will be conducted, gathering primary research data which will help analyze the attractiveness of the market. This will gain more insight into consumer attitudes, purchasing behaiviour, interests and demands.

Test markets are an excellent way to test the marketability and viability of your product in the mass market through a demographic group. In this situation, we are testing the success rate of a lightweight and easily stored mountain bike in a simulated mass market. The chosen demographic regions are two urban areas with a huge population of commuters. Granted, the advantages of test marketing include getting actual data of the mountain bike’s success, and reducing the risk of making mistakes during the product launch. However, there are also disadvantages and they are present in the consumption of time and financial resources, and the risk of being behind other competitors. In any event, there are a couple of information that the test marketing will gather regarding the product’s marketing mix. This includes the consumer response, marketing effectiveness, and effects on competitors. This increases the chance of having a successful national launch because the test market has identified preventive treatments for possible disasters, and reaffirmed which marketing aspect should be continued.

Dann, S. & Dann, S. (2004), Introduction to marketing, John Wiley & Sons Australia, Ltd., Milton, Queensland. HMV revised 2005, viewed 28 Jul. 2005,

The bicycle industry is stimulated by an increasing emphasis on health and environmental responsibility, revealing as such new potential for the business agents in the industry. In order to succeed within the sector, it is necessary for the companies to develop and implement specific and adequately targeted marketing plans.

Finally an evaluation will be conducted of how these marketing strategies are implemented in organisations like Wrightbus. This will be done by attempting to draw conclusions on how successful they are currently and have been in

Paradis-Adventure Snorkel and Dive Shop is currently introducing a new product to their niche market sector, for the eccentric new aged snorkeler’s. Marketing can be understood in the sense of satisfying customer needs (Philip Kotler,

The aim of this report is to provide a comprehensive marketing analysis that will examine the product’s strengths, weakness’, opportunities and threats. As well as, discuss the business’s objectives for this product. Furthermore, it will outline the marketing strategy using the 4 P’s of product, place, price and promotion. However firstly it will discuss the current situation and the target market.

To study the consumer preference and sell products that are highly needed by customers. Over years, Josh noted that customers are likely to purchase triathlon and high-end road bikes. He also noted that lowly priced bikes sell