How do you determine who this group of people will be

Assignment Help Operation Management
Reference no: EM132280819


This deliverable will examine your ability to apply marketing principles to business operations to build sound marketing strategies.


This is an exciting time as your business is now up and running. You are ready to start production of your product, but you have many unanswered questions. You believe that you have a great product, and you feel that it should appeal to a broad group of people.

How do you determine who this group of people will be?

How will you price your product to ensure that you make enough profit and that people can afford to buy it? Where will you advertise your product?

Where will your customers be able to purchase it? In order to address these questions and more, you will need to create a Marketing Strategy to describe your Target Market and determine the Marketing Mix (4 Ps). When writing your Marketing Strategy, you will need to address the points below:

Describe the Target Market for your product using the four types of Market Segmentation:





Using the 4 Ps of the Marketing Mix, describe the Product, Pricing, Promotion, and Placement of your product.

Product: Describe and differentiate your product. Focus on the benefits your product will offer your customers. How is your product different or better than those offered by your competitors?

Price: Discuss the things you will need to consider when establishing a price for your product.

Promotion: Based on your Target Market description, discuss the types of promotion you will use to attract your Target Market. Where will you place those promotions?

Placement: Where will you make your product available for purchase? Which channels of distribution will be used to transport that product?

Explain the relationship between the Target Market and the Marketing Mix. Discuss how they work together to create the Marketing Strategy for your business.

Reference no: EM132280819

How to measure typical strategic goals

Having strategic plans is all well and good, but without building in metrics and means of checking our progress we end up with a mess. Give some suggestions on how to measure

Choose one dilemmas and make a case defending

Ethical Dilemmas associated with off shoring are plenty. Choose one dilemmas and make a case defending your firms off shoring activities. (assume that you are employed at a

What is the relationship if any between these challenges

What are the measurement problems that occur when one attempts to measure productivity? - What are the five reasons productivity is difficult to improve in the service sector?

Criminal defendants to avoid liability for criminal acts

What two elements must exist before a person can be held liable for a crime? What defenses might be raised by criminal defendants to avoid liability for criminal acts? Kino se

Integrated hardware and software control codes

Explain the difference between" integrated hardware and software control codes" and software applications that use “authentication and approval policies, passwords, or other e

Future of work will be important in the future job market

Drucker, Reich, Friedman and Rifkin's ideas of the future of work will be important in the future job market. What interest, skills, and values do you possess that will be rel

Metaethics-normative ethics and applied ethics

Imagine you are an executive-level manager of a racially and culturally diverse organization. Metaethics, Normative Ethics and Applied Ethics. How can each of these apply to t

How does the concept of product life cycle apply to regal

How does the concept of product life cycle apply to Regal Marine products? Global firms like Regal Marine know that the basis for an organization's existence is the good or s


Write a Review

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd