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Individual Market Analysis: Exploring Market Segments and Trends

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Added on  2019-10-18

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This is an assignment for an Individual Market Analysis (IMA) paper. The paper should be no more than 4 pages, single-spaced, using Times New Roman, 12 point font, and APA format. At least 6 credible sources should be cited, with no more than 5 websites used. The paper should include an executive summary, situation analysis, segment information, and a marketing mix. The rubric for grading includes points for the executive summary, situation analysis, and segment information. Late projects will not be accepted and the paper should be submitted directly to the DROPBOX.

Individual Market Analysis: Exploring Market Segments and Trends

   Added on 2019-10-18

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Individual Market Analysis (IMA)This paper is to have your explore a market individually and not as a group. The preliminaryanalysis is general market and segment information. Please do a research from A&M library orgoogle.com to write a paper about Identify general market and segment information on the.However, the information required is below.Projects are chosen just prior to class.Choose a project and a city.Steps to accomplish this are below.This is an individual student project. Paper (as a Word attachment) is to be submitted directly to the DROPBOX.For this assignment, late projects will not be acceptable. The maximum pages for the paper should be no more than 4 content pages, using Times New Roman, 12 point font, and APA (single spaced is required). (Please note quantity NEVER equals quality). In addition, you should cite at least 6 credible sources (i.e., NON peer review journal articles are preferred, but journal articles may be appropriate as well) in the paper (no more than 5 websites may be used). You will need to include a title page with your name, table of contents, 4 pages ofcontent, a reference list, table, figure, and an appendix (if necessary).PLEASE DO NOT SUBMIT AN ITEM IN THE WRONG DROPBOX.Individual Analysis Rubric ItemsExecutive SummaryDetails from approximately each para/section 10-20% of documentSituation AnalysisBrief Company overview(estimated (units or sales), growth of last (3-5 yrs), company trends, details about the company, history, competitive advantage, etc.Industry overview & sector description; industry trends, industry trends, size of market (units or sales), growth of last (3-5 yrs), key competitors, etc.
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Segment InformationIdentify at least 3 segmentsSegment 1: Identify all of these: demographic characteristics of the segment, psychographic characteristics of the segment, behaviors of the segment, geographical characteristics of the segmentSegment 2: Identify all of these: demographic characteristics of the segment, psychographic characteristics of the segment, behaviors of the segment, geographical characteristics of the segmentSegment 3: Identify all of these: demographic characteristics of the segment, psychographic characteristics of the segment, behaviors of the segment, geographical characteristics of the segmentMarketing Mix (generally all 4Ps, but I request only one for this assignment) (you get to choose the appropriate marketing mix item (Product, Price, Promotion, or Place)Product/Service Development and StrategyPlease describe the top one or two examples of the best products/services for yourAnalysisProduct and Competition Table requiredLevels for the rubric levelsNI – Needs Improvement: Not consistent with text and lecturesP – Proficient: Consistent with text and lectures but could be improvedE – Exemplary: Exceeds information covered in text and lecturesACTUAL RUBRIC THAT WILL BE RETURNED TO YOU WHEN YOUR ASSIGNMENT IS GRADED.-rX or r10, “r” indicates that I’m returning the document and that x or 10 is the number of points received.
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Also, please see the rubric in the syllabus for details on how points are allocated.NI – Needs Improvement: Not consistent with text and lecturesP – Proficient: Consistent with text and lectures but could be improvedE – Exemplary: Exceeds information covered in text and lecturesIndividual Analysis Rubric ItemsPtsExecutive Summary (6pts)Brief Company overview2Key details from approximately each para/section 10-20% of document4Situation Analysis (6pts)Sector description2Industry overview: Size of market (units or sales), growth of last (3-5 yrs), industry trends, key competitors, etc.4Segment Information (6pts)Segment 1: Identify all of these: demographic characteristics of the segment, psychographic characteristics of the segment, behaviors of the segment, geographical characteristics of the segment2Segment 2: Identify all of these: demographic characteristics of the segment, psychographic characteristics of the segment, behaviors of the segment, geographical characteristics of the segment2Segment 3: Identify all of these: demographic characteristics of the segment, psychographic characteristics of the segment, behaviors of the segment, geographical characteristics of the segment2Marketing MixProduct strategy (7pts)Please describe the top one or two examples of the best products/services for your analysis3Product and Competition Table required4Total25Conducting a Market Analysis
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OverviewWhether you are starting a new business or launching a new product, conducting a marketing analysis is the first step in determining if there is a need or audience for your idea. Knowing the market's needs and how it is currently serviced provides you with key information that is essential in developing your product/service and marketing plan. Too often, businesses spend thousands of dollars launching a "new" idea with a limited market because of competition. The owner is forced to reevaluate his strategy and determine if there is room for another player. Although the quality of the product is critical, your development of the best product on the market will not necessarily correlate with the most sales. Up to 50 percent of a product's price can be for marketing. The company who wins the marketing game generally will capture the larger share of the market. Primary And Secondary Market Research PLEASE NOTE, I EXPECT THAT ALMOST EVERY SECTION AND KEY PIECES OF INFORMATION WILL BE FROM SECONDARY SOURCESIf you don't have all the answers to the questions listed in the Problem Definition section, you can find the answers by either conducting primary research or accessing secondary research. Primary research is research that is proactively created for a specific purpose. Primary research may include focus groups, qualitative surveys and phone interviews. This is information you collect yourself. In contrast, secondary research is research that has already been conducted for other purposes. From it valuable information can be gleaned. Secondary research can be found in libraries, online, through periodicals, books, etc. The easiest and most efficient way of accessing this type of data is on the Internet. Library information can also be found on the Internet. Access your favorite search engine and type in the following: For businessesType in the trade association name followed by either .com or .org
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