Purpose Of This Assignment: Conduct Research Related ✓ Solved

The Purpose Of This Assignment Is To Conduct Research Related To How A

The Purpose Of This Assignment Is To Conduct Research Related To How A

The purpose of this assignment is to conduct research related to how a specific company utilizes information related to consumer behavior, product mix or service processes, and pricing to create marketing plans that will meet business needs including their specified marketing objectives.

Part 1: Continuing in the role of a marketing professional who has been tasked with completing a marketing plan for a client, refer back to the research you completed in the Topic 2 Part 1: Research as a starting point for the assignment. Conduct additional research related to consumer behavior, the company's specific product or service, and the company pricing strategy, and use it to complete the "Marketing Plan Analysis and Presentation: Part 2 – Research Template."

Part 2: Create a 15-20 slide PowerPoint presentation that summarizes your marketing plan analysis based upon the research you have conducted. Slides should address each of the key areas listed below and should include speaker notes that explain how the company could have used what it learned about consumer behavior, product or service, and pricing to help it develop a marketing plan in order to meet the company marketing objectives and business needs. Include a slide at the end of the presentation to cite your research sources.

Key Areas to Address:

  • Company Background: Company name, vision, and mission. Company marketing objectives.
  • Consumer Behavior: Describe the customer segments and target markets.
  • Describe characteristics of the target markets that will affect product/service and pricing decisions.
  • Describe how the company differentiates its product and positions its brand.
  • Describe a consumer buying behavior model for this company and brand.
  • Product or Service: Describe the product mix.
  • Describe the product lines.
  • Describe the service processes.
  • Discuss physical evidence of service, service scape, and ambiance.
  • Discuss the roles of company employees in service delivery.
  • Price: Define the company's pricing objectives and discuss whether the objectives are profit- or sales-oriented.
  • Provide examples of current company pricing strategies.
  • Describe pricing tactics (discounts, etc.) that are used to drive short-term demand.

General Requirements:

Refer to the resource, "Creating Effective PowerPoint Presentations," located in the Student Success Center, for additional guidance on completing this assignment in the appropriate style. Submit the "Marketing Plan Analysis and Presentation: Part 2 – Research Template" and PowerPoint presentation with speaker notes. Attachments: MKT-315-RS-Marketing-Plan-Analysis-and-Presentation-Part-2-Research-Template.docx

Sample Paper For Above instruction

Introduction

The success of any marketing strategy fundamentally depends on a comprehensive understanding of the company’s consumer behavior, product offerings, and pricing strategies. This paper analyzes these aspects for a hypothetical company, XYZ Corporation, to illustrate how marketing plans are crafted based on detailed research and customer insights. The analysis emphasizes the importance of aligning marketing objectives with consumer preferences and market trends to achieve sustainable growth.

Company Background

XYZ Corporation is a leading provider of eco-friendly home appliances, with a mission to promote sustainable living through innovative products. Its vision is to become the most trusted brand in environmentally conscious appliances globally. The company’s marketing objectives center on increasing brand awareness, expanding market share in urban areas, and establishing a loyal customer base that values environmental responsibility.

Consumer Behavior

The target markets for XYZ include environmentally conscious homeowners aged 30-50, urban dwellers, and tech-savvy consumers. These segments are characterized by a high level of awareness about environmental issues and a willingness to invest in sustainable products. Their purchasing decisions are influenced by product efficacy, energy efficiency, brand reputation, and price sensitivity. The company differentiates its brand by emphasizing its commitment to environmental responsibility, innovative design, and superior customer service.

XYZ’s consumer buying behavior model indicates that customers in this segment often conduct extensive research, compare alternatives, and seek social proof before making a purchase. Word-of-mouth, online reviews, and sustainability certifications play crucial roles in their decision-making process.

Product and Service Offerings

XYZ offers a diverse product mix including refrigerators, washing machines, and dryers, all manufactured with eco-friendly materials and energy-efficient technologies. These products are organized into distinct lines based on capacity, features, and target demographic segments. The service process involves installation, maintenance, and after-sales support, emphasizing customer convenience and continuous engagement.

Physical evidence of service includes eco-friendly packaging, a modern retail experience with informational displays, and a website that highlights sustainability credentials. The company’s staff members are trained to educate customers about product benefits and sustainability features, enhancing the overall service experience.

Pricing Strategy

XYZ’s pricing objectives are primarily profit-oriented, aiming to balance competitive pricing with premium product positioning. The company adopts value-based pricing, emphasizing the long-term savings and environmental benefits of its products. Its current pricing strategies include tiered pricing based on product features and targeted promotions during eco-events or national sustainability awareness days.

Short-term demand is driven through discounts, bundle offers, and financing options. For instance, seasonal discounts during Earth Day stimulate sales and attract environmentally conscious consumers seeking affordable options.

Conclusion

In conclusion, XYZ Corporation’s marketing plan is deeply rooted in consumer insights, sustainable product development, and strategic pricing. By aligning its marketing objectives with consumer preferences and market trends, the company can solidify its market position, foster customer loyalty, and contribute positively to global sustainability efforts.

References

  • Armstrong, G., & Kotler, P. (2017). Principles of Marketing (17th ed.). Pearson Education.
  • Chen, Y., & Lien, Y. (2020). Consumer behavior in green purchasing: The influence of sustainability perceptions. Journal of Business Ethics, 162(2), 229–241.
  • Kotler, P., & Keller, K. (2016). Marketing Management (15th ed.). Pearson.
  • Peattie, K., & Crane, A. (2005). Green marketing: legend, myth, farce or prophesy? Qualitative Market Research: An International Journal, 8(4), 357–370.
  • Porter, M. E. (1985). Competitive Advantage. Free Press.
  • Schultz, D. E., & Kitchen, P. J. (Eds.). (2000). The SAGE handbook of marketing. Sage.
  • Thøgersen, J. (2014). The emergence of green consumerism: A review. Journal of Consumer Culture, 14(3), 331–349.
  • Ulrich, K. T., & Eppinger, S. D. (2015). Product Design and Development (6th ed.). McGraw-Hill Education.
  • Vining, J., & Ebreo, A. (2002). What makes a difference? Promoting environmentalism. Journal of Social Issues, 58(3), 477–493.
  • Yadav, R., & Pathak, P. (2017). Determinants of green purchase behavior among Indian consumers. Journal of Cleaner Production, 182, 820–836.

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