Assignment
1) Create an APA formatted 15 pages Market Segmentation Plan for a new Nails Saloon in Miami Beach Services Launch Marketing Plan. Include the following for both the domestic and international markets based on the team's research:
• Describe the target market (audience) profiles, key buying behaviors, and decision motivators for the consumer target market. Note: Do not pick different target markets for the domestic and international markets.
• Detail the steps involved in a new product/service development.
• Discuss the stages of the new product/service life cycle and how to manage each stage. Include tactical plans for the 4 Ps at each stage.
• Develop the product offering started. Provide the product mix for the new offering including features and benefits, branding, any other products in its line, its differentiating characteristics from competitive or substitute products, packaging and labeling, and warranties and guarantees.
• Create a new positioning statement and strategy for the product/service.
• Justify the position strategy.
2) Discuss the proposed methodology for conducting an in-depth consumer behavior research study for your client by addressing the following:
• Identify the different types of consumer behavior concepts the study uses to target your potential market. Explain the attitudes and intentions of those concepts that affect the consumer decision-making process of your target market.
• Explain the reasons for using these consumer behavior concepts and the results you expect to get from the study that is used in the development of the marketing strategies to be proposed.
• Create a final questionnaire by selecting no more than 10 questions, derived from the Team Assignment you are working on that will best reflect the target group.
• Discuss marketing strategies for the proposal based on the target group's potential responses to the final questionnaire.
3) The Product Launch plan will be for two countries. Select your home (domestic) market and another for the international market. Do not select the U.S. and Canada, the U.S. and Britain, or Canada and Britain as your combinations. While the audiences should have the same need for the product or service you come up with, they should have distinctive cultures and habits.
Include the following in the Product Launch Plan:
• Define the product or service being offered.
• Describe the product or service offering.
• Assess the market needs for this product or service and explain those needs.
• Choose an anticipated target audience and include a description.
• Defend your choice of product or service.
• Develop a brief SWOT analysis.
• Analyze potential or existing competition - either direct or substitution.
• Evaluate the potential growth rate. Look for information on similar products or services to come up with a growth rate over three years; this may be adjusted in later revisions.
Develop a 10-question survey instrument including potential answers for closed-ended questions and scholar questions that you will use for the final marketing plan. The questionnaire will be used to collect additional primary data about buyers. Set at least one goal for this survey:
• Why is it being conducted?
• How will the team benefit from the results in terms of planning and decision making?
• Leverage opportunities to demonstrate marketing management learning by defining marketing terms and concepts and by using expert testimony and scholarly sources to support your point
4) Include the following for both the domestic and international markets based on the team's research:
• In your introduction, summarize the essence of what the paper is about while discussing the New Product/Service
• Describe the target market (audience) profiles, key buying behaviors, and decision motivators for the consumer target market. Note: Do not pick different target markets for the domestic and international markets.
• Detail the steps involved in a new product/service development.
• Discuss the stages of the new product/service life cycle and how to manage each stage.
• Include tactical plans for the 4 Ps at each stage.
• Develop a pricing strategy for the new product or service offering.
• Create a new positioning statement and strategy for the product/service.
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 include 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.
Attachment:- Market-Segmentation-Plan-Example.rar