Question

SETUP: MARKETING MANAGEMENT PLAN PURPOSE (VERSION #4)

DESCRIBE WHO YOUR MARKETING MANAGEMENT PLAN IS FOR, AND WHAT THEY WILL KNOW THAT THEY DIDN'T KNOW BEFORE READING YOUR MARKETING MANAGMENT PLAN.

We will create a final template, and you will fill out a new part of the plan each week. At the end, you will submit the final copy of your complete plan.

SETUP: COMPANY NAME (VERSION #4)

WRITE DOWN THE NAME OF YOUR COMPANY.

VISION: COMPANY VISION (VERSION #4)

WRITE DOWN A FIRST DRAFT OF YOUR COMPANY VISION. YOUR VISION SHOULD BE A SHORT SENTENCE OR TWO THAT DESCRIBES HOW THE WORLD WILL BE DIFFERENT BECAUSE YOUR COMPANY EXISTS. IN OTHER WORDS, THE IMPACT ON THE WORLD THAT YOU WANT TO HAVE WITH YOUR COMPANY.

Vision = After You - Before You = Impact

CUSTOMER BEHAVIOR: NEED RECOGNITION (VERSION #1)

Write down how your target market recognized that they have a challenge that needs to be solved using your product or service such as:

• online dating is how you meet people
• good parents give their children an advantage with pre-school
• eye glasses cost too much

Ex.

• They hear about the problem from a friend
• They watch a talk show on TV
• A celbrity tells them in a commerial
• Social media leader
• Hear it at school
• Go to an event
• Event happens to them
  • something breaks
  • Find out how hard it is to get something done when they try to deal with a problem
• Read article

CUSTOMER BEHAVIOR: ASSUMPTIONS (VERSION #1)

Selling your product or service requires that you make assumptions. Write down three assumptions that you are making when you sell, or are going to sell your product or service.

Ex.

• Customers will use a mobil app
• Customers prefer buying using credit
• Customers will buy more online than in a store
• Customers will not buy without delivery included
• Customers will pay more for higher quality

MARKETING RESEARCH: MARKET ANALYSIS (VERSION #1)

Write down a major question that you need answered using research in order to plan your marketing, and before you make customer assumptions.

Ex.

• where does my target market live
• where does my target market get its news from
• How much will my customers pay for my product
• What or who does my customers identify with when looking for answers to problems

Answer 1

For market research, we can take up dairy farming in rural areas as our research case. Currently, packaged milk brands are available and at a high cost. Few questions need to be answered to plan marketing and sales forecast:

- How many people buy packaged milk and how many buy from dairyman?

- What is the per day average consumption of milk in a family of 4 people

- Is the current market price of milk economical or inflated

- What all milk products are in demand apart from milk

- Are the customers satisfied with the current packaging of the product

Milk being a perishable and daily necessity good is an open market segment which can be targeted. In rural areas, there is a scarcity of quality milk and the above questions will help us in our research process.