“Entrepreneurs must determine what to
sell, to whom and how often, on what terms and at what price, and how to
get the product or service to the customer. In short, a marketing plan
identifies a company’s target customers and describes how it will
attract and keep them. The process does not have to be complex.” (1).
With this assignment, you will address
some of the basic areas within a marketing plan and help to refine your
strategies for creating a successful business.
Using the business from the assignment, Feasibility Analysis, write a 3–4 page paper in which you:
Identify its primary target market. Explain your response.
Specify three methods you will use to research customer needs and wants.
Describe the marketing mix: a) product, b) pricing strategy, c) promotion, and d) placement or distribution.
Create a one-year advertising budget and plan that incorporate the use of various advertising media and publicity.
Include at least two references outside the textbook.