Effective Relationship Marketing

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Business Finance

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Purpose of Assignment

To develop effective relationship marketing, a company must first understand its targeted consumers' buying influences and behaviors. This week's assignment is the first part of the development of a marketing plan. It provides the foundation of the marketing plan and introduces the student to a variety of diagrammatic tools for understanding a business.

Assignment Steps

To develop effective relationship marketing, a company must first understand its targeted consumers' buying influences and behaviors.

Create the research section of your marketing plan in minimum of 700 words.

  • Week Two Individual Paper Format1 - Use your Week One researched Company and select/describe a Product or ServiceRestate the Company and the selected Product/Service LineOne product/service for the domestic market and one (modified as needed) for the selected foreign market.2 - Develop a profile of the demographics of your target market (see document posted in the Classroom Message Area - one target market is your domestic market, one additional target market is your selected foreign target market))a - DomesticYour findings b - Foreign Market Your findings 3 - Identify your desired geographical area (one domestic and one foreign)a - Brief Domestic Market Description of 10 Economic Factor and 5 Population Factorsb - Brief Foreign Market Description of 10 Economic Factor and 5 Population Factors4 - Using the Bureau of the Census data, how many people with your demographic profile live in your selected U.S. geographical area? a - Your findings for the domestic marketb - Using other foreign research data, compute how many people with your demographic profile live in your selected foreign geographical areaYour findings for the foreign market5 - Using Nielsen Claritas, provide a description of the Psychographics for the demographic profile you selected in your geographical area in the U.S; using secondary research, describe the psychographic of your foreign target market.a - Your findings for the domestic marketb - Your findings for the foreign market6 - Explain the insights you have gained from your inspection and analysis of the demographic and psychographic information you have found. What differences have you noted between your domestic and foreign target markets?Please, make sure that your paper contains 6 Titled and numbered Sections to reflect the assignment titles and numbers as they are listed above. Please, retain the a and b sub-sections for each titled section. Not properly formatted papers will be returned to be formatted in six titled sections.By completing items 1 to 5, you will have conducted: secondary research, establish a customer profile and conduct a consumer analysis.This assignment will be incorporated into your overall marketing plan for Week 6.

Cite a minimum of three peer-reviewed references.

Format your assignment consistent with APA guidelines.

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Understanding Target Markets Grading Guide MKT/571 Version 10 Marketing Copyright Copyright © 2017, 2016 by University of Phoenix. All rights reserved. University of Phoenix® is a registered trademark of Apollo Group, Inc. in the United States and/or other countries. Microsoft®, Windows®, and Windows NT® are registered trademarks of Microsoft Corporation in the United States and/or other countries. All other company and product names are trademarks or registered trademarks of their respective companies. Use of these marks is not intended to imply endorsement, sponsorship, or affiliation. Understanding Target Markets Grading Guide MKT/571 Version 10 Edited in accordance with University of Phoenix® editorial standards and practices. 2 Understanding Target Markets Grading Guide MKT/571 Version 10 Individual Assignment: Understanding Target Markets Purpose of Assignment To develop effective relationship marketing, a company must first understand its targeted consumers’ buying influences and behaviors. This week’s assignment is the first part of the development of a marketing plan. It provides the foundation of the marketing plan and introduces the student to a variety of diagrammatic tools for understanding a business. Grading Guide Content Student creates the research section of his/her marketing plan and includes at least 3 elements of the research list of topics provided here: • Research List of Topics o Primary Research o Secondary Research o Consumer Analysis o Customer Profile o Continuous Consumer Monitoring & Research o Environmental Scanning o Identify Market, Economic, Technological, Regulatory, Legal, Social, and Ecological Forces o Current Opportunities o Potential Future Opportunities o Current Threats o Potential Future Threat Any diagram(s) provided (not required) are in APA format and includes discussion providing insight and clarity. Student develops the first two parts of the Target Market section, which includes an overview of the demographics (age, income, family members, and birthdays) and psychographics (activities, interests, and opinions) analysis. Student explains the insights he/she has gained from his/her inspection and analysis of the demographic and psychographic information he/she has found. The Research section is a minimum of 700 words in length. Met Partially Met Not Met Comments: 3 Understanding Target Markets Grading Guide MKT/571 Version 10 Content Writing Guidelines Met Met Partially Met Not Met Total Available Total Earned 3.5 #/3.5 Partially Met Not Met Total Available Total Earned 1.5 #/1.5 5 #/5 The paper—including tables and graphs, headings, title page, and reference page—is consistent with APA formatting guidelines and meets course-level requirements. Intellectual property is recognized with in-text citations and a reference page. Paragraph and sentence transitions are present, logical, and maintain the flow throughout the paper. Sentences are complete, clear, and concise. Rules of grammar and usage are followed including spelling and punctuation. Assignment Total Additional comments: # Comments: Comments: 4
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