HartleyC M2 A2
MARKETING RESEARCH AND TARGET MARKETING (Module 2)
Name: Christina Hartley
College: Argosy University
Course: Principles of Marketing | MKT230 A01
Professor: Toi Walker
Date: September 03, 2014
Executive Summary
This marketing plan has been designed after a keen analysis of the market and examinations of the marketing research so as to develop products, which satisfy the market needs. The mission of the company is inspiring others through the brands offered. Secondly, the company has an objective of making a difference in the market through the creation of value centered products. The product being marketed is the Waters Bottling Company’s soft drinks.
Section 2 – Market Research & Targeting (Module 2)
1. Market Research:
Market research is fundamental in setting up or running an organization. The explanation for this is point of fact, that is, if an organization does not have research done on the targeted market, and has sagacity on the needs, needs and inclination of the expected target market for the products or administrations that it is putting forth, then, the business wander is likely not to be effective and will slump or fall flat.
The analysis of the market entails examination of the external and internal environments for business. When investigating the market, it is essential to consider the business environment since it has a significant impact to the productivity of the company. This is accomplished in consideration with the market characteristics and the internal traits. The main aim of this evaluation is to develop a competitive strategy aimed at satisfying the market demand (Pinson, 2008).
Research Methods & Data Mining
The company has also set out a department to study the external environment so as to determine the demographic characteristics of consumers, changes in the market demand and supply forces, threats and opportunities so as to help the management in making its decisions in regard to the products to produce. For this reason,
Name: Christina Hartley
College: Argosy University
Course: Principles of Marketing | MKT230 A01
Professor: Toi Walker
Date: September 03, 2014
Executive Summary
This marketing plan has been designed after a keen analysis of the market and examinations of the marketing research so as to develop products, which satisfy the market needs. The mission of the company is inspiring others through the brands offered. Secondly, the company has an objective of making a difference in the market through the creation of value centered products. The product being marketed is the Waters Bottling Company’s soft drinks.
Section 2 – Market Research & Targeting (Module 2)
1. Market Research:
Market research is fundamental in setting up or running an organization. The explanation for this is point of fact, that is, if an organization does not have research done on the targeted market, and has sagacity on the needs, needs and inclination of the expected target market for the products or administrations that it is putting forth, then, the business wander is likely not to be effective and will slump or fall flat.
The analysis of the market entails examination of the external and internal environments for business. When investigating the market, it is essential to consider the business environment since it has a significant impact to the productivity of the company. This is accomplished in consideration with the market characteristics and the internal traits. The main aim of this evaluation is to develop a competitive strategy aimed at satisfying the market demand (Pinson, 2008).
Research Methods & Data Mining
The company has also set out a department to study the external environment so as to determine the demographic characteristics of consumers, changes in the market demand and supply forces, threats and opportunities so as to help the management in making its decisions in regard to the products to produce. For this reason,
References: “Consumer behavior”. (2011). Consumer behavior. Retrieved from http://www-rohan.sdsu.edu/~renglish/370/notes/chapt05/ Management Study Guide . (2014). Cultural Factors affecting Consumer Behavior. Retrieved from http://www.managementstudyguide.com/cultural-factors-affecting-consumer-behaviour.htm DuBrin, A. J. (2009). Essentials of management. Mason, OH: Thomson Business & Economics. Ferrell, O. C., & Hartline, M. D. (2011). Marketing strategy. Australia: South-Western Cengage Learning. Hamilton, C. (2011). Communicating for results: A guide for business and the professions. Boston, MA: Wadsworth Cengage Learning. Kleindl, B. (2007). International marketing. Mason, Ohio: Thomson Higher Education. Pinson, Linda (2008). Anatomy of a Business Plan: A Step-by-Step Guide to Building the Business and Securing Your Company 's Future. Tustin, CA: Out of Your Mind & into the Marketplace.