Analysis for Marketing Decisions
- What questions do you have about the overarching Unit 5 assignment? Although not due until the end of the class, it is important that you begin planning for this project early in the course. What are your initial thoughts about how you will approach this assignment? Explain. (Week 5 product is not the same as the product in week 1&2. Can improve on a product as long as it makes it a new product such as when headphone went from wired to wireless. Can be a service such as a beauty salon as long as it something different from others.)
- Using the product, you chose in Unit 1 discussion board, List two features of the product and assess how they transform into benefits for you; determine consumer behavior towards your product as compared to their current behavior towards your competitor’s product. Discuss how the product fits your lifestyle or psychographic.
- Based on Maslow’s Hierarchy of Needs, what level of need will your ‘improved’ product meet? Explain.
- Draft a mission statement for your product for week 5 and set three (3) specific applicable marketing goals which you would like to meet in your marketing strategy.
Unit 5 assignment will be send in another email and a new assignment, refer to it there
Questions about the Overarching Unit 5 Assignment
The Unit Five assignment will be an assignment that is individual, and it will entail making the marketing decisions of the product being established. In tackling this assignment, the questions that will be considered include, first which is the product and what is its nature Analyzing the product nature is a step that is essential in making the decisions of the market. The second question which is the target market regarding the target consumers in the aspect of the demographic characteristics? Defining the target market enables the marketers to have an insight on the needs of the consumers as well as how the new product will satisfy them. The question of the marketing strategies to be used will also be addressed. The strategies chose primarily in evaluating the marketing plan………….
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