Target Market Analysis - Describe market for new product

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Reference no: EM131959794

Introduction to Marketing Assignments -

You have been named the marketing director of a large pet supply company. Your company makes pet food, toys, and supplies that are sold in retail locations and via its online store. While the company has a robust website, it is not on any social media websites and prefers traditional media channels to promote its products.

Your first job is to help the company launch a new pet food line. This line will be for both cats and dogs, and the company is excited because the product is made of all natural ingredients. The new pet food will be sold for about 10% more than its competitor's pet food product. You will need to make some key strategic decisions about how to launch and promote this new product line. Assume you will have the budget that you need.

Prompt - Your Final Project Part I: Product Overview will be a written document, 2-4 pages in length, in APA format. A template has been provided to give additional details on the paper structure and content.

Specifically the following critical elements must be addressed:

I. Initial Overview

Assignment 1 - SWOT Analysis

Market Factors - Describe the internal and external market factors the company should consider.

i. Complete the SWOT matrix and include information on the product strengths, weaknesses, opportunities, and threats. Provide necessary details to support each example.

ii. Explain the SWOT findings and how they can help you market your new product. Consider what the strengths of the products are and how you can leverage those to take advantage of opportunities.

Assignment 2 - Target Market Analysis

Target Market Analysis - Describe the target market for the new product.

i. What is your company's target market? What is the demographic, psychographic, and geographic breakdown of your target market?

ii. What are the wants and needs of this target market? Why would the product either appeal to their wants or satisfy their needs?

II. Marketing Strategy

Identify marketing strategies that you would suggest for the company.

a) Identify the most important marketing strategies that you would recommend the company use,and explain why you have chosen them.

b) Outline the 4 P's (price, place, promotion, and product) for each of the strategies you have identified. How will you use the 4 P's to inform your strategies?

c) Identify one marketing strategy you would recommend that the company avoid, and explain why.

d) Outline the 4 P's (price, place, promotion, and product) for the strategy you are not recommending. Are there changes you could make to the 4 P's that would make the strategy more likely to be successful?

Milestones -

Milestone One: SWOT Analysis and Discussion

Milestone Two: Target Market Analysis

You will submit your written target market analysis in a 2--to 3 page Word document that will describe in detail your selection of the target market of the pet supply store, including the demographic, geographic, and psychographic details, the needs and wants of this target market, and how this new product will satisfy one or more of these needs or will appeal to a want of the target market.

Attachment:- Assignment Files.rar

Reference no: EM131959794

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Reviews

len1959794

4/27/2018 1:14:50 AM

I need the following two assignments - Assignment 1 : SWOT Analysis and Assignment 2: Target Market Analysis abut three pages plus reference page. Also attaching: 1. Template on the format and 2. Sample of Market Analysis project. Notes on APA in a Formal Assignment - Set margins to 1 inch all around. Use 12-point Times New Roman font and make sure to double-space. Paragraphs should be at least three to four sentences.

len1959794

4/27/2018 1:14:44 AM

Do not include the headings “Introduction” and “Conclusion.” These are included below to help you lay out your paper. APA format assumes the introduction begins the paper, the body continues the paper, and the conclusion wraps up the paper, so those headings are not needed. Indent the first line of every paragraph by pressing the Tab key. Be careful not use personal pronouns such as “I.” Make sure to delete the Paragraph 1 and Paragraph 2 headings as well. Be sure to replace all the text in red on this template with your own writing. (This entire first page can be deleted after you review the suggestions. The paper should begin with your title page, which follows.)

len1959794

4/27/2018 1:14:38 AM

Your SWOT analysis will outline the strengths, weaknesses, opportunities, and threats facing the pet supply store's new product. Ensure that you discuss which of the product's strengths you will be leveraging in your marketing activities. In your response posts to your classmates, discuss how the threats or weaknesses could affect your classmates' proposed marketing activities. You will submit your written target market analysis in a 2--to 3 page Word document that will describe in detail your selection of the target market of the pet supply store, including the demographic, geographic, and psychographic details, the needs and wants of this target market, and how this new product will satisfy one or more of these needs or will appeal to a want of the target market.

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