Company (nonprofit): Project C.U.R.E
This section defines the customer need, examines possible market segments, and defends the choice of a target market. It then shows why type of market research validates the need(s), confirms interest in your solution to satisfy those needs, and/or confirms the size of the market addressed. Be sure to support each section with references to applicable text material.
A. Customer needs
Identify customer needs central to this marketing plan, do not profile what your product does, but rather detail the needs of your target consumer.
B. Current and/or potential customers
Explain segmentation used to identify target market, describe demographic and behavioral dimensions of customer group. Include age, gender, income, geography, family status, or other relevant attributes that distinguish your market from a different target market. It is important to try to estimate the total number of potential customers that might fit that description and then the share of that total market you may hope to capture. Apply the HDAV analysis to defend the choice of this target market.
C. Market Research
Explain the type of market research used to support selection of target market and show why that type of market research provided the best information about your market. (“Type” includes primary or secondary and quantitative and qualitative. The results of the research may be made up or fictional but the kind of research needed to gather relevant customer information must be accurately described. If you use actual market information, cite your source. If you use fictional industry data provide a citation that the data are fictional. Create examples of the type of results provided by the research. If you “make up” the research, be sure to indicate in your plan that the research is fictional.
II. Objectives and Goals
This short section defines what the plan expects to accomplish. These objectives should some quantitative information about revenue, profits, and market share or a combination of several of these areas. Think of this section what the company will get as a result of implementing this plan. A brief statement or two is all that is necessary. Consider social objectives that may be appropriate to include for this market or this company. Make sure the goals are quantitative or stated in a way that achieving the goal can be measured.
Example Objectives and Goals:
• Profit: Increase profit over the next 12 months by $1 million
• Share: Increase market share by 5 points over the next 12 months
• Social: Contribute 2% of new revenue to charitable causes
In order to get an A, this paper must:
• Clearly and completely describes all market segment characteristics for company project potential target market within segmentation worksheet.
• Clearly and completely defines the industry, market type and customer needs of each segment.
• Clearly and completely defines each factor within the HDAV analysis for the specific target market
• Clearly and completely defines the type of market research you conduct, that includes rationale and expected results.
• Clearly and completely defines at least two marketing objectives and goals and how they will be achieved.
• Fully incorporates concepts from the reading assignments.
• Paper has clear purpose; addresses all aspects of the assignment
• Paper makes its case through logical ideas
• Mechanics of writing are strong; few if any errors
• Paper cites sources using style appropriate to the discipline
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