What is the purpose of business plan?which audience will you prioritize in terms of customizing the contents of your business plan?
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- A marketing plan is a process of determining a straightforward, comprehensive approach to creating customers. The following elements are critical for developing this plan: current marketing research, recent sales analysis, a marketing information system, sales forecasting, and evaluation. What is a marketing plan? Why is a marketing plan necessary for an entrepreneur? How critical are the elements mentioned above for an entrepreneur? Explain your answer.Select a company that predominantly focuses on either B2B or B2C markets. Next, choose a new market for your selected choice. For example, if you selected B2B, describe how customer behavior and the process would differ from marketing to B2C. If you selected B2C, describe how client behavior and the process would vary from marketing to B2B. Describe the challenges you would face in the new process. How would you emphasize value for your new market?If the Company have no marketing strategy, explain the following consequence that might affect to their goals, mission and objectives. a) Losing out to competitors b) Losing market share to existing and start-up competitors c) Gaining and retaining fewer customers d) Missing out on opportunities for better targeting e) Lack of planning and discourage to execute good ideas. f) Easily collapse g) No direction in attaining the company’s goals and objectives h) Lack of management
- Any company's marketing plan must include improving and maximizing customer loyalty and retention. Describe why this is the case and provide two examples of businesses that use this strategy.What is a marketing plan, and how does it differ froma business plan?You are developing a one page business plan for the idea. Explain the concept of a one page business plan. Explain one key component you would include as a 'selling point' for your particular business idea and why
- Enhancing and optimizing customer retention and loyalty is an important part of any marketing plan. Explain why this is the case, and give two examples of businesses that use this strategy?From the current 7Ps of your chosen company (NETFLIX), suggest some strategies on how they can improve each marketing mix (7p’s) so they can continuously provide good experience and satisfaction to their target market.Describe market segmentation and how does a company decide on its target markets and market segments? Using any Small Medium Enterprise (SME) as an example, justify your answer.
- Why is it important to determine who your target market is?Choose any organization of your own choice and identify the products offered and what are the key components of the marketing environments that affects a firm’s marketing effort. Prepare the report.Choose an engineering firm or any organization/company/agency of your choice with an existing marketing unit. Then, draw the organization chart of the firm showing the marketing unit and its relationship with other units.