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Select the
product or service from the Integrated Marketing Discussion in Week Two.
Write a
1,600- to 2,000-word paper for which you first research the current customer
base, buyer behavior, demographics, psychographics, lifestyle, geographic area,
benefit segmentation, and user segmentation for the product or service your
team is studying.
Share your
research information in your Learning Team forum so that all team members can
use it for this paper. Part of your individual grade for this team paper will
include the facilitator’s evaluation of the sharing that takes place between
you and your team members in your LT Forum. (3 points)
Identify the ideal target market for your Learning Team’s selected product or service,
based on your research. In your paper, include the following:
Provide a specific description of the target
market, which should be measurable, accessible, sustainable, differentiable,
and actionable. (2 points)
Include the total marketing budget. This is
when the cost of acquisition is not greater than 10% of the product’s retail
price or one month of an annual service. (2 points)
Estimate the size of the market and estimated
penetration percentage, and describe how you came up with those estimates. (2
points)
Provide justification for your answers.
Determine a competitive advantage analysis in which you:
Identify the key attributes of the selected
product or service for the target market you have identified, including both
rational attributes and emotional attributes like color, style, or status. (2
points)
Identify at least three competitors for your
product or service;
then determine the unique competitive
advantage that your selected product or service has for your target market when
compared with each of those three competitors. (2 points)
Format your paper consistent with APA guidelines.
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