Market Research (5.0 points)

Your marketing plan should include:
- Research into the overall market
- Definitions of market segments
- Description of the specific target market

Your research should also describe:
- Industry trends
- Economic changes
- Other factors affecting your market

Instruction: Write 1-2 short paragraphs about the target market segments for your company and why you think this company and product will be successful. Are there economic, social, or other trends that make this a good opportunity now?

Product Description (2.0 points)

This section of the marketing plan describes:
- Features of the product
- Benefits for the target market

Discuss the needs, desires, and fears of your target market and consider how to use emotions to highlight your product's benefits.

Instruction: Write 1-2 short paragraphs about your product's features and benefits.

Question

14-06-2024
Business

Answered

Market Research (5.0 points)

Your marketing plan should include:
- Research into the overall market
- Definitions of market segments
- Description of the specific target market

Your research should also describe:
- Industry trends
- Economic changes
- Other factors affecting your market

Instruction: Write 1-2 short paragraphs about the target market segments for your company and why you think this company and product will be successful. Are there economic, social, or other trends that make this a good opportunity now?

Product Description (2.0 points)

This section of the marketing plan describes:
- Features of the product
- Benefits for the target market

Discuss the needs, desires, and fears of your target market and consider how to use emotions to highlight your product's benefits.

Instruction: Write 1-2 short paragraphs about your product's features and benefits.

Answer :

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GinnyAnswer GinnyAnswer · Answer 1 · 2024-06-14T10:55:07-04:00

Final answer:

Market research is crucial for guiding business decisions effectively. Describing product features and benefits tailored to the target audience enhances market competitiveness.

Explanation:

Market Research: Market research involves conducting research to guide businesses in selling, improving, or promoting a product or service. It includes analyzing potential markets, understanding target audiences, and assessing industry trends that could impact the market. Gathering data from core markets, customers, and competitors is vital for making informed decisions.

Product Description: When describing your product, focus on its features and benefits for the target market. Consider the needs, desires, and fears of your audience and highlight how your product addresses those aspects. Using emotions to make your product appealing can enhance its attractiveness and competitiveness in the market.

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