Mm578 Consumer Behavior Course Project Explanation

Selling to consumers or other businesses, developing an effective sales strategy is the first step to persuading customers to part with their money. In particular, we need to identify which customers to focus the efforts on, the sales methods that will be use to reach them and how we will price the product or service.

Question: Outline the marketing process and explain the importance of each element of the marketing plan.

1. Target a new customer segment that id young and always ready to try something new and exciting.

The purpose of this exercise is to help you define and classify your chosen product, and define a specific target market. What a product is, how it supports the company mission, and how it fits

Make a customer analysis and segment the market. What impact does your analysis have on the current business model of the company?

Specify here the strategy you are recommending for the brand in each target market. State how this relates to the key marketing mix elements relevant to your brand. This should be outlined in greater detail in the Promotional Plan in Attachment 1.

First, we will analyze the targeted customer and the proposition designed by each company to attract them. In this part, there is a description of each market target and how each company has taken advantage of each unique position in the industry.

One of the most important in coming up in the marketing plan is identifying your potential customers or your target market. With this, the researchers can implement and come up with the strategies suited with the identified target market. Target market or customers are those who are likely to buy your product.

For a product of your choice, discuss the characteristics of each stage of the product lifecycle and explain the marketing strategy you would implement.

Marketing strategy is a method of focusing an organization's energies and resources on a course of action which can lead to increased sales and dominance of a targeted market niche. A marketing strategy combines product development, promotion, distribution, pricing, relationship management and other elements; identifies the firm's marketing goals, and explains how they will be achieved, ideally within a stated timeframe. Marketing strategy determines the choice of target market segments, positioning, marketing mix, and allocation of resources. It is most effective when it is an integral component of overall firm strategy, defining how the organization will successfully engage customers, prospects, and competitors in

Brand Promise: What is the most compelling (emotional/rational) benefit to your target customers that your brand can own relative to your competition?

Discuss the potential audiences for a marketing plan and the needs of those potential audiences.

Our Company, Budget for Tomorrow is hoping to enter this active market by creating a product that will be used in participating grocery stores all around the country. We hope to be the leading company that is able to provide our customers with a niche that will increase the amount of customers returning to their stores, by having our convenient product available to all of their grocery carts. Our marketing goal is to attract our potential customers (stores) by demonstrating our product to them and explaining to them that their customer numbers will increase, which overall will increase their sales just by having this product available to their customers. Our marketing goal is to show our customers that having this product in their stores will help them with a marketing strategy of their own. This strategy being

In order to determine the type of consumers that your business wants to develop a business relationship with we must first develop a target market to determine the type the segment of the population in the area that would be interested in the type of business that you offer. I believe that developing a marketing penetration strategy coupled with a market development strategy would give the company an advantage in evaluating the current market risks and opportunities in order to position the business in the best possible entry into the market. Moreover, by conducting marketing penetration strategy we would be able to current customers that the competitors in the area are servicing. Additionally, we would utilize a market development strategy would allow us to analyze the segment of people that either decided not to buy your competitors products or have not thought about the benefit that this service would provide them by purchasing this type of service.

Qns: Discuss the 4 major characteristics of services and the marketing strategies available for the service organization.