Wk 2 – Understanding Target Markets [due Wed]
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Assignment Content
1.
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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.
Assignment Steps
To develop effective relationship marketing, a company must first understand its targeted consumers’ buying influences and behaviors. In Week 2, create the Research section of your plan.
Create the research section of your marketing plan in minimum of
70
0 words.
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
·
Current Opportunities
· Potential Future Opportunities
· Current Threats
·
Potential Future Threat
· 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.
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).
Explain the insights you have gained from your inspection and analysis of the demographic and psychographic information you have found.
This assignment will be incorporated into your overall marketing plan for Week 6.
Discuss your progress in class!
Format your assignment according to APA guidelines.
Submit your assignment.
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Understanding Target Markets
Grading Guide
Individual Assignment: Understanding Target Markets
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.
Grading Guide
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Content |
Met |
Partially Met |
Not Met |
Comments: |
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Student creates the research section of his/her marketing plan and includes at least 3 elements of the research list of topics provided here: Research List of Topics Primary Research Secondary Research Consumer Analysis Customer Profile Continuous Consumer Monitoring & Research Potential Future Opportunities Current Threats Potential Future Threat Any diagram(s) provided (not required) are in APA format and includes discussion providing insight and clarity. |
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Student develops 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. |
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Student explains the insights he/she has gained from his/her inspection and analysis of the demographic and psychographic information he/she has found. |
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The Research section is a minimum of 700 words in length. |
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Total Available |
Total Earned |
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| 70 |
#/70 |
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Writing Guidelines |
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The paper—including tables and graphs, headings, title page, and reference page—is consistent with APA formatting guidelines and meets course-level requirements. |
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Intellectual property is recognized with in-text citations and a reference page. |
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Paragraph and sentence transitions are present, logical, and maintain the flow throughout the paper. |
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Sentences are complete, clear, and concise. |
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Rules of grammar and usage are followed including spelling and punctuation. |
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30 |
#/30 |
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Assignment Total |
# |
100 |
#/100 |
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Additional comments: |
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Formatting
Title Page
Citation
Outline
