Based on your situational analysis, SWOT analysis and any market research you have done in theprevious weeks (for your client), outline the buying behaviour of the potential customers of yourclient’s product:1. What are the major groups/socio-cultural factors that may influence the buying behaviour ofpotential customers2. What is the major individual – personal & psychological – factors that may influence thebuying behaviour of potential customers3. The level of involvement a potential customer may have with your product4. The stages of the decision-making process of the potential customer, including how muchtime and effort may be spent at each stage.Think of an organisation that you would like to be the focus of a marketing plan that you will prepareduring this semester.Identify the potential target market or markets, be as specific as possible, outline the following foreach target market that you identify:a. Demographic characteristicsb. Geographic characteristicsc. Psychographic characteristicsd. Behavioural characteristicsFinally, analyse the need for each target market segment by explaining the following:a. Current (and potential future) needs of each target market segmentb. How your chosen organisation’s current product offerings meet these needs (or will be ableto positioned to meet these need)c. How competing product offerings currently meet these needs (or will likely be positioned inthe future to meet these needs)Think of an organisation that you would like to be the focus of a marketing plan that you will prepareduring this semester.1. What is the product?2. What are its main features?3. Why would the target market want to buy this product compared to the competition4. Outline and evaluate potential product strategies that will likely meet the needs of thetarget market.If you have chosen a services organisation for your marketing plan:1. Analyse the services about the additional 3Ps of the services marketing mix2. Outline potential marketing strategies to achieve sustainable competitive advantages ineach of these three areas
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