Discussion
Marketing is more than advertising- it refers to delivering value and benefits, creating products and services that will meet the needs and wants of customers at a price they are willing to pay and in places where they are willing to buy them.
Respond to the following this week:
1. Identify and briefly describe the biggest competitor for your NAB business. What is their approach to marketing?
2. Outline the value your product brings to your customers (value proposition) and how they will benefit (what problem is your product solving?).
3. What would be your marketing strategy to reach your customers?
Competition
- Who is your biggest competitor and what they do
- Describe their approach to marketing
Value proposition
- What value are you providing to your customers through your product (the end benefit, what do you offer)
- What problem is your product solving, why is it useful
- What makes your product unique and different?
Marketing Strategy
- Describe your marketing strategy to reach your customers; list the marketing vehicles (TV ads, billboards, samples, social media, etc.) you will use to reach your customers, then briefly describe.
Clarify:
- If you advertise, where
- If you do promotions, describe how
- If you send a newsletter, to what mailing list
- If you are doing trade shows, which one and how frequently
- If you are advertising on TV, which channels and how often
Format your assignment according to the following formatting requirements:
1. The answer should be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides.
2. The response also includes a cover page containing the title of the assignment, the student's name, the course title, and the date. The cover page is not included in the required page length.
3. Also include a reference page. The Citations and references should follow APA format. The reference page is not included in the required page length.