How do you determine who this group of people will be

Assignment Help Operation Management
Reference no: EM132280819

Competency

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

Instructions

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:

Geographic

Demographic

Psychographic

Product-related

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

Benefits of the impact of effective information systems

Describe the other benefits of the impact of effective information systems. As part of your discussion look up information technology and see how technology can revolutionize

Define how to develop a solid thesis statement

Write a direct and concise thesis statement, which will become the point or perspective you will argue or prove in the Final Research Paper. Refer to the Ashford Online Writ

More challenging to apply them in a service operation

Operations management concepts can be applied to both manufacturing and service operations. It can often be more challenging to apply them in a service operation. Briefly desc

Project management knowledge areas describe

Project management knowledge areas describe the key competencies that project managers must develop. Which one of the following is not among the 10 project management knowledg

How might apply to things like advertising and marketing

People have argued for many centuries about whether or not we are our "brother's keeper." What do you think? How might this apply to things like advertising and marketing cl

What is its effective capacity

In a job shop, effective capacity is only 45 percent of design capacity, and actual output is 63 percent of effective output. What design capacity would be needed to achieve a

Identify components of effective communication

Identify components of effective communication, barriers to effective communication and nonverbal methods to improve communication. What patterns of communication do you most

Determine three sigma control limits for an x-bar chart

Determine three sigma control limits for an x-bar chart assuming a sample size of 10. If specifications are 5.98 to 6.02, what run size should be used for this job so that t

Reviews

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