Purpose of Assignment\u00a0\tTo develop effective relationship marketing, a company must first understand its targeted consumers’ buying influences and behaviors. This week’s assignment is the first part of the development of a marketing plan. It provides the foundation of the marketing plan and introduces the student to a variety of diagrammatic tools for understanding a business.\u00a0\tAssignment Steps\u00a0\tTo develop effective relationship marketing, a company must first understand its targeted consumers’ buying influences and behaviors. In Week 2, create the Research section of your plan.\u00a0\tCreate the research section of your marketing plan in minimum of 700 words.\tInclude at least 3 elements of the Research List of Topics (see list below):\t\t\tResearch List of Topics:\t\t\t\t\t\t\t\t\tPrimary Research\t\t\t\t\t\t\tSecondary Research\t\t\t\t\t\t\tConsumer Analysis\t\t\t\t\t\t\tCustomer Profile\t\t\t\t\t\t\tContinuous Consumer Monitoring & Research\t\t\t\t\t\t\tEnvironmental Scanning\t\t\t\t\t\t\tIdentify Market, Economic, Technological, Regulatory, Legal, Social, and Ecological Forces\t\t\t\t\t\t\tCurrent Opportunities\t\t\t\t\t\t\tPotential Future Opportunities\t\t\t\t\t\t\tCurrent Threats\t\t\t\t\t\t\tPotential Future Threat\t\t\t\t\t\tDiagrams are not required but can be used to provide clarity and conciseness. Diagrams (and subsequent discussion) can include SWOT (emphasizes internal market–Strengths, Weakness, Opportunities, Threats) TOWS (emphasizes the external market–Threats, Opportunities, Weakness, Strength), PEST (Political, Economical, Social, Technological), SOAR (Strengths, Opportunities, Aspirations, Results), and\/or STEEP (Social, Technological, Environmental, Economical, Political). All diagram(s) should be in APA format and must include a subsequent discussion of the diagram(s) providing insight and clarity.\tDevelop the first two parts of the Target Market section, which includes an overview of the demographics (age, income, family members, and birthdays) and psychographics (activities, interests, and opinions) analysis. This is not a detailed analysis but an overview (basic trends and insights from the data that is presented in annual reports and other SEC type filings).\tExplain the insights you have gained from your inspection and analysis of the demographic and psychographic information you have found.\u00a0\tThis assignment will be incorporated into your overall marketing plan for Week 6.\tCite a minimum of three peer-reviewed references.\tFormat\u00a0your assignment consistent with APA guidelines.\u00a0\tClick the Assignment Files tab to submit your assignment.<\/p>\n","protected":false},"excerpt":{"rendered":"
Purpose of Assignment\u00a0 To develop effective relationship marketing, a company must first understand its targeted consumers’ buying influences and behaviors. This week’s assignment is the first part of the development of a marketing plan. It provides the foundation of the Read More …<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-229139","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/posts\/229139","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/comments?post=229139"}],"version-history":[{"count":0,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/posts\/229139\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/media?parent=229139"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/categories?post=229139"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/tags?post=229139"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}