To conduct a consumer analysis for the product—the good, service, or idea—in your marketing plan: 1 Identify the consumers who are most likely to buy your product—the primary target market—in terms of (a) their demographic characteristics and (b) any other kind of characteristics you believe are important. 2 Describe (a) the main points of difference of your product for this group and (b) what problem they help solve for the consumer in terms of the first stage in the consumer purchase decision process in Figure 4–1. 3 For each of the four outside boxes in Figure 4–4 (marketing mix, psychological, sociocultural, and situational influences), identify the one or two key influences with respect to your product. This consumer analysis will provide the foundation for the marketing mix actions you develop later in your plan.

What is marketing myopia for any company in the market? How can we stop it? Explain it with suitable example

Using a differentiated marketing strategy, a company is likely to design a product and a marketing program that will appeal to the largest number of buyers. true or false?

Being first to market can be an advantage and a disadvantage. Provide at least one reason for each.

What is the purpose of a marketing plan for a company or a product/service? What do you think about each step of the marketing plan? Select one of the steps of the marketing plan and provide your explanation.

In order for a market to exisit, there must be a need for a product, ability to pay, willing to buy, authority to buy, and be a group large enough to result in a profit. Without these, you do not have a viable market. What are some things a person can do to prevent not having a viable market?

The role of the marketing manager is inclusive as to the development and implementation of the strategic marketing plan.  please outline the core elements of an effective marketing strategy and how the role of the marketing manager influences the overall development and implementation of the marketing strategy.

Brands compete in markets and markets evolve. Some markets are emerging, while others are growing, maturing or declining. The nature of customers' needs and competitive intensity varies as markets move through their lifecycle. A challenge for marketers is to understand the size and nature of a target market, and to use good judgment to anticipate how that market will evolve going forward. Such knowledge will help marketers make better decisions, which in turn should support favorable marketing performance as measured by marketing margin and ROMI. Please create a thread and in it provide the following in a brief summary: Choose a market for a product or service of interest to you. The market can be business to consumer (B2C) or business to business (B2B). The geographic scope of your market can be limited (e.g., the City of Hartford), expansive (e.g., the world) or somewhere in-between, but you must specify it. Using data from any existing publicly available source(s), describe the…

Sometimes marketers will develop strategies to target multiple social class segments with the same product by offering it at different prices. Give two examples of products or brands that use this strategy, and how do they accomplish it? Are there any potential risks to taking this approach with specific products or brands, and what might make some products or brands more susceptible to these kinds of risks?

Answer questions  4,5,6 in relation to that product: Questions ( the product chosen cod liver oil)  (1)    Describe the product that you have chosen (2)    Comment on the information provided on the label (3)    How does the price of the product compare to the prices of the similar products in the category? (4)    Who (which target market) is the product targeted to? (5)    What consumer need does the product satisfy? (6)    What marketing activities are used to promote the product in the store and nationally?