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This part is Marketing Research of existing part already I submitted:
– Marketing Research Assignment
Task: You are assigned to research a new product/service of your choice.
The Research Report should include:
The four marketing stages:
• Define your objectives
• Develop a research plan
• Implement the research plan
• Analyze the findings
Marketing Plan Assignment
The marketing plan is a comprehensive, written framework for obtaining marketing objectives. A marketing plan can be written for a single product/service, a group of products/services, a new promotional strategy, or an entire organization.
The Marketing Plan should include the following: (60 marks)
1. Executive Summary – a condensed overview of the marketing plan.
2. Define your business
a. Describe your product or service
b. Describe your geographic location and the marketing area you wish to cover
c. Describe your competition. Who are your major competitors?
d. How does your business differ from other competitor businesses – why should customers come to you instead of your competitors?
e. Describe your current pricing strategy and how it compares to your competitor’s pricing strategy
f. Describe your current promotion methods and the competition’s promotion methods
g. Describe how customers get your products or services?
3. Define your customers
a. Who is your customer? Develop a profile of your average customer
b. Define how your customers learn about your product or services
c. Define the reasons why your customers purchase your product or service
d. How could you improve your product or service for your customers?
e. What customers do you think you could reach that you are not currently targeting?
4. Define your marketing objectives and strategies
a. Product: Describe what you intend to do with your product or service in detail
b. Price: Describe new pricing strategy and payment policies
c. Promotion: Describe the promotional tools or tactics you’ll use to accomplish your marketing objectives
d. Place: Describe how and where you will place your product so customers have easy access
5. Match your proposed objectives and strategy to your budget in the marketing plan
a. How much do you think you can spend on marketing your product? Think about the costs compared to the sales that you think you will achieve.
b. What is the cost per customer?
c. Percentage of profits you can allocate to your marketing campaign
6. Describe how your product/service has an impact on the
environment.
7. A Timeline for implementation/plan of action. (MS Project)
WRITTEN GUIDELINES FOR MARKETING PLAN:
a. The marketing plan should be approximately 12-15 pages (excluding the executive summary and any references), typed with headers, footers and pages numbered.
b. The marketing plan should include a marketing mix grid illustrating your ideas.
c. You should be creative and innovative, using any graphics that will supplement your ideas, and the overall presentation of the plan.
d. Each group member is expected to contribute to the overall written plan in an equitable manner.
e. The marketing plan will be graded based on the content/substance, accuracy of information, creativity, and overall presentation of the information.
Please check attached the part (The Digital Pen for Traffic Tickets) to do the marketing research.
Kindly go throw the powerpoints slides to do this part based on what I studied.
please always ask if you have any question
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