A
SSIGNMENT
SSIGNMENT
# 4
F
ALL
ALL
S
S
EMESTER
EMESTER
(2006)
(2006)
T
OTAL
OTAL
MARKS
MARKS
10
10
M
ARKS
ARKS
O
BTAINED
BTAINED
I
NSTRUCTIONS
1.
You are allowed to
consult
the online material in preparation of this assignment.
2.
Do not copy and paste. Copy and pasted material from any source will be
awarded zero marks.
3.
Please use a 12-point font in Times New Roman.
4.
Assignments will be graded on content (missing important information/details),
and grammar (writing style, misspelled words, subject/verb agreement, awkward
phrases, sentence/paragraph length, coherence, word choice.
5.
Late assignments will not be accepted.
6.
Plagiarism will never be tolerated.
Plagiarism is the use of direct quotations
without identifying them as such or the summarizing or paraphrasing of other
quotations. If you do not specifically identify the source of ideas other than your
own, you are plagiarizing.
Q
UESTION
UESTION
Suppose you are acting as an entrepreneur who is managing a new venture. For that new
venture you are required to plan marketing of your product or services. What will be the
specific procedure to follow to make an effective marketing plan?
S
OLUTION
OLUTION
STEPS IN PREPARING THE MARKETING PLAN
Step 1: Defining the Business Situation
The
situation analysis
is a review of where the company has been and considers many of the
environmental factors. The entrepreneur should provide a review of past performance of the
product and the company. Industry analysis should include information on market size, growth
rate, suppliers, new entries, and economic conditions.
Step 2: Defining Target Market/Opportunities and Threats
The entrepreneur should have a good idea of who the customer or
target market
will be. The
defined target market will usually represent one or more segments of the entire market.
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- Spring '19
- Marketing, #, telephone equipment
