Homework: Promotion and Pricing Strategies
Introduction
"Entrepreneurs must determine what to sell, to whom and how often, on what terms and at what price, and how to get the product or service to the customer. In short, a marketing plan identifies a company's target customers and describes how it will attract and keep them. The process does not have to be complex." (Scarborough & Cornwall, 2015, p. 274).
Overview
With this homework, you will address some of the basic areas within a marketing plan and help to refine your strategies for creating a successful business.
Task
Using the business from the homework, Feasibility Analysis, write a 3 to 4 pages paper in which you:
i. Identify its primary target market.
ii. Specify three methods you will use to research customer needs and wants.
iii. Describe the marketing mix: a) product, b) pricing strategy, c) promotion, and d) placement or distribution.
iv. Create a one-year advertising budget and plan that incorporates the use of various advertising media and publicity.
Format your homework according to the following formatting requirements:
i) The answer should be typed, using Times New Roman font (size 12), double spaced, with one-inch margins on all sides.
ii) The response also includes a cover page containing the title of the homework, the student's name, the course title, and the date. The cover page is not included in the required page length.
iii) Also include a reference page. The Citations and references must follow APA format. The reference page is not included in the required page length.
The specific course learning outcome associated with this homework is:
i. Create a marketing plan to help a business effectively promote its products and services.