Marketing Plan Part A: Executive Summary and Part B: Targeting Custome
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Journal1: ;Marketing Plan Part A: ;Executive Summary and ;Part B: Targeting Customers
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Note: ;There are two (2) parts to this journal entry.
Part A: ;Executive Summary
You will create a fictional start-up company that serves the U.S. market with a product or service. ;
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Write one to two (1-2) paragraphs in which you:
- Provide a detailed description of your company. The description should include, at a minimum, the company’s name, its history, founders, business purpose, and mission.
- Describe, in detail, the product or service the company produces or services. Include trademark, color, shape, packaging, labeling, and any characteristics that you deem relevant.
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Part B: Targeting Customers
You will now consider who your customers are and identify your market segment. ;
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It is vital that you clearly identify your target customers within your marketing plan. Knowing your target customers will help you to: ;
- pinpoint where you should spend your advertising budget
- determine the type of campaign you intend to run, and ;
- ensure that your marketing message speaks the customer’s language (based on their needs and wants, demographic, location, ethnicity, etc.).
Write one to two (1-2) paragraphs in which you:
- Analyze the business customers / clients that you wish to target. Your analysis should include, but not be limited to, their:
- demographic profile (e.g., age, gender, ethnicity, etc.)
- psychographic profile (e.g., interests, routine, habits, etc.)
- profession (e.g., income, occupation, education)
- geographic location (e.g., country, region, city, rural, urban, climate)
- precise wants and needs as they relate to the products and / or services you offer.
- demographic profile (e.g., age, gender, ethnicity, etc.)
- Use at least two (2) quality references. ;Note: ;Wikipedia and other Websites do not qualify as academic resources.
Note: ;Upon completion of the journal, fill out the “Company Overview” section in the Marketing Plan Template, located in Week 4. Next, insert the information from the completed Journal 1 entry into “Section 1: Executive Summary” and “Section 2: Targeting Customers” within the provided Marketing Plan Template.