Part 3:Building a Marketing Plan - 1 If you’re targeting...

  • No School
  • AA 1
  • 4
  • 100% (1) 1 out of 1 people found this document helpful

This preview shows page 1 - 2 out of 4 pages.

1. If you’re targeting consumers, what level of involvement do customers typically have with products like yours? Consider your product’s price and the amount of effort needed to search for it , time spent on the buying decision, and brand preference When and why might customers be most interested in your product? Is price a very important consideration for your target market? Write a paragraph about the likely decision-making process for products like yours (use a competing product as a model if your product doesn’t yet exist). Then write a second paragraph explaining the implications for your marketing plan, such as needing widespread distribution for a low-priced product that consumers won’t spend much time or effort searching for. Depending on the type of work consumers need done, consumers may use extended or limited decision making. The level of involvement depends on price, amount of time spent, and brand preference. Prices vary depending on certain services and materials used, but the cost is usually medium to high. Prices are a very important consideration for our target market, because certain services are very costly and different companies give different cost estimations. The amount of time a consumer may use to research their possible choices and options is lengthy. (A problem is that The Go To Contractors doesn’t advertise much, so consumers may never find out about it.) Contractor services aren’t always hired by brand preference, unless a consumer has previous experience with a certain company and is inclined to hire them again . Decision making process of a consumer: 1)PROBLEM RECOGNITION: Realising their property/building/home is old or damaged and in need of repairs/renovation/remodeling. 2)INFORMATION SEARCH: searching for ideas on how they want to remodel, or how they want something repaired. Then looking for different contractors. 3) EVALUATION OF ALTERNATIVES: researching different companies, their prices, services, etc. 4)PURCHASE: picking what they think is the best option and hiring a contractor/company. 5)POST PURCHASE EVALUATION: after the work has been done, they will evaluate the quality, speed and service they received. They could write a review, or contact the contractor that did the work. The problem in this process is in steps 2 and 3. The customer would have a hard time finding our website and services because of the lack of advertising on our side. 2. Of the main situational influences on consumer buying—including circumstances, time, location, reason for purchase, and buyer’s moods, which one might be the most important for your product? For example, if you’re planning to market a new car or a digital gadget, physical surroundings (in dealerships or electronics stores) might be critical to shaping a positive buying situation. Choose one situational influence and write 2-3 sentences explaining its importance and how you can include it in your marketing plan.
Image of page 1
Image of page 2

You've reached the end of your free preview.

Want to read all 4 pages?

  • Fall '19

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern

Stuck? We have tutors online 24/7 who can help you get unstuck.
A+ icon
Ask Expert Tutors You can ask You can ask You can ask (will expire )
Answers in as fast as 15 minutes
A+ icon
Ask Expert Tutors