Reference no: EM13835378
Consumer Behavior Course Project Explanation
Create a 6 page paper on the following information below I want you to explain in one page how this demographic is untouch and with the right marketing this could be a billion dollar asset. You may skip item 7 if you reach 6 pages.
You are asked to choose a consumer product about which you either know something or on which you can find good research. You may use either a product with which you are actively involved in your business or one from another business.
You are to create a thorough, tightly focused Marketing Strategy that focuses on consumer behavior for either a product. Those sections not highlighted receive this instructor's additional perspectives in the "Additional Instructions" area.
Develop a tightly focused, strategically-oriented paper. I will be seeking your depth and breadth of your findings and arguments that communicate via your logical, business-oriented writing that you are a thinking, educated, marketer.
As you create your paper, please NUMBER each section so that I can easily determine on which one of the seven (7) sections you are writing. You want to demonstrate in-depth critical thinking, provide examples, and support your assertions with legitimate scholarly resources. Use APA citations each and any time that you have referenced scholarly content. NOTE: Wikipedia.com or Answers.com or other similar "general go-to-us-for-a-fast-answer" websites are not considered scholarly resources. Please do not use these. Demonstrate scholarly research that utilizes respected resources that identify the subject-matter-expert by name.
NOTE: No more than 25-30% of your Course Project should come from external sources. Although this is a research paper, I am more interested in learning YOUR perspectives, based on your analysis. After all, this is a paper that YOU are writing. All assignments are submitted to Turnitin.comTM to ensure originality of work. Thus at least 70%+ of your paper's content comes from your fingertips and demonstrates your synthesis of content reviewed, your critical analysis, critical thinking, and application. Papers that are a collection of cobbled-together snippets from other websites will not earn a passing grade and when minimal adult learner synthesis and minimal original content is apparent.
Your Course Project asks you to utilize the following seven topics as headings for clarity, as well as subtopics as subheadings. Please clearly label each Heading and Subheading in your paper.
Headings and Subheadings Additional Instructions
1: Market Analysis
• Company
• Customers
• Competitors
• Conditions
Market Analysis
(continued)
Describe your Company and your Customers. Who are your Competitors with which you do (or will do) battle? Describe the market Conditions in which you find your product/service being marketed
2: Market Segmentation
• Segmentation Criteria
• Segments
• Attractiveness Analysis
• Target Market Use culture, demographics, and the other external influences, as well as self-concept and lifestyle information to accomplish this.
3: Product Positioning Put this in the form of a "statement"
4: Impact on the Consumer
• Perception
• Learning and Memory
• Motivation, Personality, and Emotion
• Consumer Attitude Assessment
• Self-Concept and Lifestyle Assessment Your ability to provide detailed insights on this topic
Reflect on each of these five topics and discuss how each may have an impact on your target market's decision-making process.
How does your marketing strategy demonstrate application of your strategy to each?
5: Consumer Decision Process
Discuss the process by which consumers will come to a conclusion to include your product/service in their evoked set.
6: Marketing Mix
• Product
• Place
• Promotion
• Price
• Service
Marketing Mix
(continued) This is where all of your conceptual discussion comes true in the marketplace. What does your product look like? Where are you selling it? How are you communicating with your consumers? What price signals are you sending? How do you service the customer through the decision process and post purchase?
7: Market Plan Assessment
• Competitor Response
• Anticipated Results and Contingencies Forecast the future. You finally get to recommend a "go" or "no go" decision.
What will your competition likely do when you enter the market with your product?
What will likely happen when you enter the market insofar as your target market's receptivity to your product/service offering?
What is it that you have done via your marketing strategy that suggests the likelihood of success based on Consumer Behavior considerations?
What could possibly occur and for which you have not planned, thus resulting in contingencies?