Journal1: Marketing Plan Part A: Executive Summary and Part B: Targeting Customers
Due Week 4 and worth 100 points
Note: There are two (2) parts to this journal entry.
Part A: Executive Summary
You will create a fictional start-up company that serves the U.S. market with a product or service.
Write one to two (1-2) paragraphs in which you:
1.Provide a detailed description of your company. The description should include, at a minimum, the company’s name, its history, founders, business purpose, and mission. 2.Describe, in detail, the product or service the company produces or services. Include trademark, color, shape, packaging, labeling, and any characteristics that you deem relevant.
Part B: Targeting Customers
You will now consider who your customers are and identify your market segment.
It is vital that you clearly identify your target customers within your marketing plan. Knowing your target customers will help you to:
•pinpoint where you should spend your advertising budget •determine the type of campaign you intend to run, and •ensure that your marketing message speaks the customer’s language (based on their needs and wants, demographic, location, ethnicity, etc.). Write one to two (1-2) paragraphs in which you:
3.Analyze the business customers / clients that you wish to target. Your analysis should include, but not be limited to, their: 1.demographic profile (e.g., age, gender, ethnicity, etc.) 2.psychographic profile (e.g., interests, routine, habits, etc.) 3.profession (e.g., income, occupation, education) 4.geographic location (e.g., country, region, city, rural, urban, climate) 5.precise wants and needs as they relate to the products and / or services you offer. 4.Use at least two (2) quality references. Note: Wikipedia and other Websites do not qualify as academic resources.
Note: Upon completion of the journal, fill out the “Company Overview” section in the Marketing Plan Template, located in Week 4. Next, insert the information from the completed Journal 1 entry into “Section 1: Executive Summary” and “Section 2: Targeting Customers” within the provided Marketing Plan Template