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Part 1: TARGET MARKET PROFILE

· Choose a single target market to focus your marketing plan on.

· Develop a Detailed Target Market Profile.

· Your Target Market Profile can be submitted as a “Day in the Life”, a “Collage”, or any other format you deem appropriate that helps to answer the question:

 

“Who is the primary market to purchase my product?”

(In other words, “Who is most likely to buy the most from me?”)

 

· Your Target Market Profile should include:

a summary of the consumers’ needs and wants; and

a description based on variables such as demographics, psychographics, lifestyle, etc.

· Refer to chapters 7 and 8.

· Be very, very specific.

 

 


 

Part 2: MARKET POSITIONING MAP and TAGLINE

· Develop the Map using two-dimensions that you think are important to your target market.

· Include at least three other competitors on the map.  

· Create a Positioning Statement for your product.

· Create a Tagline for your product.

· Refer to chapters 7 and 8 for a description of a Positioning Statement and the elements that are included in a Positioning Statement.


 

Part 3: PRODUCT LIFE CYCLE and MARKETING STRATEGIES

· Draw a Product Life Cycle.

Identify the stage where you think your product is on the Product Life Cycle.

MKTG716 Marketing

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