On Studybay you can order your academic assignment from one of our 45000 professional writers. Hire your writer directly, without overpaying for agencies and affiliates!
Check price for your assignment
While many confuse marketing with sales or think the visible aspects of marketing are what marketing is all about, the foundation of effective marketing is research. Good marketing strategy starts with collecting and analyzing information that informs marketing decisions and actions. In this activity, you will apply research concepts to make recommendations for improving the marketing of the offering you identified in your Week 1 individual assignment.
Resources: Marketing: Ch. 2: pg. 40-46, 54-69; Ch. 3: pg. 72-92; Ch. 8: pg. 207-227; Ch. 9: pg. 242-257
Scenario: Considering the offering and opportunities in your Week 1 individual assignment, define your marketing opportunity, identify your market segments, conduct a competitive analysis, define your differentiation, and apply the Five-Step Marketing Research Approach to develop a plan for improving marketing strategy for your client.
Using the provided template, prepare a Microsoft® PowerPoint® presentation with speaker's notes that conducts a market analysis and applies the Five-Step Marketing Research Approach detailing how you will use each step to solve your marketing problem.
I've provided a template that turns the following into a fill-in-the-blank assignment. To keep things simple, I recommend using the provided template; but, you are welcome to develop your own process and template.
Some of the elements for this presentation come directly from your Week One individual assignment.
Address the following:
Provide an overview that explains to the client what you are trying to accomplish and how will go about getting it done.
Identify the product you are marketing and the problem you are trying to solve through your research proposal.
Identify three groups of customer segments by their need for your offering. Identify three benefits of your offering (See Table 4.3).
Conduct a brief competitive analysis of your offering's features and benefits against those of competitive offerings.
Explain the key differentiation the competitive analysis suggests. Specifically: What makes your offering better than competitive offerings? Why should customers in each segment choose your offering over that of competitive offerings?
Explain how this differentiation can help position the offering.
Define the Five-Step Marketing Research Approach and discuss the importance of research in marketing.
Conclude by summarizing the key points of the presentation and make recommendations about next steps.
Support your analysis by applying at least three credible sources, including the course text and resources from the University Library. Also, apply at least two sources to support your analysis of the market, product, organization, and competitors.
Cite sources on the slides and in the speaker's notes.
Include a References Cited page.
While many confuse marketing with sales or think the visible aspects of marketing are what marketing is all about, the foundation of effective marketing is research. Good marketing strategy starts with collecting and analyzing information that informs marketing decisions and actions.