short answer question 31

The Themes:

One – The Basics of Marketing – what is marketing – what is connectedness – what is customer creation – what is the marketing approach versus the sales approach – what is value creation

Two – Knowing Your Industry – what are the details of the industry you are studying – how is the industry changing – what are the major statistics of the industry (library research databases we reviewed)

Three – Knowing Your Company – what is the current profile of the company you are studying – what is the competitive landscape – what were the major obstacles and opportunities for your company in 2019 and now in 2020

Four – Knowing Your Customer – who is your customer – good opportunity to show your analysis of STP – what is the segmentation of your market, who is your target customer, and what is the current position of your brand

Five – Knowing the Marketing Mix – what are the major elements of the marketing mix as they apply to the company you are studying – hint, they start with the letter P and there are four of them – and we added a fifth – align the mix with the other elements we discussed that start with the letter C

Six – Knowing Marketing Research – how do your target customers make purchasing decisions – what personifies their general behavior in the purchasing process – what areas impact the rate of adoption in the buying decision process – and, what did you learn from the lab in week four about marketing research – you can focus on the process, you as a subject of someone’s research – the survey method, etc.

Seven – Knowing your Product and the Brand – what efforts is your company making in the areas of product development – perhaps it needs to do more – at what stage is your brand in the product life cycle – what is your product’s brand vision, personality and position – the details

 

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