MKT 571 Week 2 Assignment: Understanding Target Markets
Purpose of Assignment
To develop effective relationship marketing, a company must first understand its targeted consumers’ buying influences and behaviors. This week’s assignment is the first part of the development of a marketing plan. It provides the foundation of the marketing plan and introduces the student to a variety of diagrammatic tools for understanding a business.
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.
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):
Develop the first two parts of the Target Market section, which includes an overview of the demographics (age, income, family members, and birthdays) and psychographics (activities, interests, and opinions) analysis. This is not a detailed analysis but an overview (basic trends and insights from the data that is presented in annual reports and other SEC type filings).
Explain the insights you have gained from your inspection and analysis of the demographic and psychographic information you have found.
This assignment will be incorporated into your overall marketing plan for Week 6.
Cite a minimum of three peer-reviewed references.
Format your assignment consistent with APA guidelines.
Submit your assignment.
Grading Guide: Understanding Target Markets Grading Guide
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