Instructions: Visit www.mplans.com and view the various marketing plans (samples
ID: 457652 • Letter: I
Question
Instructions:
Visit www.mplans.com and view the various marketing plans (samples) to see if you get any ideas for something similar to what you have in mind and explore other helpful information on this website.
Visit www.census.gov and look up demographic information based on zip codes or counties for the geographic area you believe your target market will be drawn from. Remember people will only drive within a certain number of miles for various products and services. How large (number of customers) do you think you will appeal to?
Visit www.mybestsegments.com and do the zip code look up to get psychographic information on the groups in the zip code(s) you are interested in.
On the Discussion Board for Assignment 3: 1) remind us of the business concept you are exploring (a sentence or two), then 2) write a customer profile of your ideal customer (be as specific as you can) using both demographic and psychographic variables. Then 3) summarize the size of the potential market you will serve and how well your idea seems to match with what you learned on the websites. Finally 4), make mention of any other interesting information (mention at least two items) you discovered while exploring these websites. Don’t forget to interact with your peers with questions, comments, and observations
Explanation / Answer
Well, as an expert tutor I should help you to understand and how to do your homework. Let us look at this:
Business consists of a system, method or way to get money in exchange for goods or services. Business is also drawn to commercial or social activity that has been thought and you want to develop.
In short, every business is a transaction in which two or more parties exchange goods and services for a fixed or determinable price. The exchange of a good or service for another is called barter. From a legal standpoint, every business is formalized through a contract of sale being the legal business par excellence. There are several tools to develop business models, understood as the strategy or planting of the factors or elements that make up the business.
Market studies allow companies to identify opportunities, reduce risk and assess the impact on the market, so it is essential to know what is the profile of the consumer, which is defined as the set of demographic, social characteristics and mentality consumers distinguish a brand, customers of an establishment and service users.
This profile is obtained by customer research describing the characteristics of a product or users of a particular service, which serves to define the target audience; this being a very important marketing strategy for any variable.
To identify the type of consumer is required certain characteristics that grouped in a niche defining its profile, segmenting the market in a small number of subsets (segments) being similar in their behavior, needs, motivations, etc., of the which is selected which is most attractive for the company group.
The characteristics of the different profiles are shown:
Demographic Profile. The consumer is described according to their physical characteristics (age, sex, etc.), social economic (marital status, social class, etc.) or (income, education, employment, etc.)
Psychographic profile. The reasons for which the customer purchases a service; personality as to refer to the enduring trends reaction of an individual.
Behavioral profile. In these characteristics regarding their behavior are taken into account the amounts of consumed product and consumer habits or use.
Profile lifestyle. It refers to the general characteristics of the individual, standing at a deeper level. Lifestyle, to act, to use the time and spend the money.
On the page www.mplans.com there are many interesting articles like sample marketing plans, marketing software, marketing article, marketing resources and marketing calculators. Inside of this kind of marketing there are differents plans that you can use depending on the marketing you are working. For example: if you want to start working in a restaaurant, cafe and bakery you should choose this plan for it. If you want to start with the creation of new softwares you should choose the plan for it.
That is all. I hope my explanation has been useful for you.
Good luck!