1. Your cousin wants to start his own business, but he decided not to write a marketing plan because he thinks that preparing such a document would take too long and not be useful to him. Since he has already received funding for the business from his uncle, he says he doesn't need such a document. Explain why it is important for him to develop and write a marketing plan for his new business. What should he include in his Marketing Plan?
2. Discusses demographic factors within the marketing environment that are important in marketing strategy. How should Ford Motor Company market differently to Generation Y, Generation X, and Baby Boomers? Consider the differences in these demographic segments and explain how those differences should be addressed in terms of product offered, promotion, and pricing.