understanding target markets 30

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To develop effective relationship marketing, a company must first understand its targeted consumers’ buying influences and behaviors. In Week 2, create the Research section of your plan. Be sure to list your company/product in the first paragraph.

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

Include at least 3 elements of the Research List of Topics (see list below): Be sure to have each element as a heading.

  • Research List of Topics:
  • Primary Research
  • Secondary Research
  • Consumer Analysis
  • Customer Profile
  • Continuous Consumer Monitoring & Research
  • Environmental Scanning
  • Identify Market, Economic, Technological, Regulatory, Legal, Social, and Ecological Forces
  • Current Opportunities
  • Potential Future Opportunities
  • Current Threats
  • Potential Future Threat
  • Diagrams are not required but can be used to provide clarity and conciseness. Diagrams (and subsequent discussion) can include SWOT (emphasizes internal market–Strengths, Weakness, Opportunities, Threats) TOWS (emphasizes the external market–Threats, Opportunities, Weakness, Strength), PEST (Political, Economical, Social, Technological), SOAR (Strengths, Opportunities, Aspirations, Results), and/or STEEP (Social, Technological, Environmental, Economical, Political). All diagram(s) should be in APA format and must include a subsequent discussion of the diagram(s) providing insight and clarity. NOTE: For ease of using while keeping with APA, include a diagram or table in an Appendix after the Reference page, then simply reference the Appendix in summary form within the text.
 
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