This paper concentrates on the primary theme of Target Audience & Competition are the next components to be addressed in the process of developing a Marketing Strategy. To choose an appropriate target market, one must understand how consumers make purchase decisions. in which you have to explain and evaluate its intricate aspects in detail. In addition to this, this paper has been reviewed and purchased by most of the students hence; it has been rated 4.8 points on the scale of 5 points. Besides, the price of this paper starts from £ 79. For more details and full access to the paper, please refer to the site.
Developing a Marketing Strategy: Case Study
Target Audience & Competition are the next components to be addressed in the process of developing a Marketing Strategy. To choose an appropriate target market, one must understand how consumers make purchase decisions.
PART 1: General Research
Research and discuss Maslow`s theory of needs and how it is applied to marketing.
Define the stages of the consumer behavior model (or industrial model, if appropriate) and apply how the concepts affect the marketing effort.
PART 2: Application to Product/Service
Provide a quick overview of the product or service you created - "Amare- with Love" Eco Friendly Essentials.
Even though you have "created" a product or service, the applications and research in this section will be real.
- Identify your target market. Provide a specific demographic profile and rationale for this decision. Another source that may help you: The US Census Bureau`s American Fact Finder. Consider the size of the market and its purchasing power. Research is required to back-up your selection and to provide statistics to show that it is a viable market.
- Analyze your competition. Who are they? Who are the biggest players? How large is the market? What are the trends/forecasts in the industry? How does your product/service fit in?