Target Audience & Competition are the next components to be addressed in the process of developing a Marketing Strategy. To choose an appropriate target market, one must understand how consumers make purchase decisions. The body of the paper should 5-6 pages PART 1: General Research 1. Research and discuss Maslow?s theory of needs and how it is applied to marketing. Resources MUST include articles in the library?s full-text databases. 2. Define the stages of the consumer behavior model (or industrial model, if appropriate) and apply how the concepts affect the marketing effort. Research MUST include material from articles in the library?s full-text databases. PART 2: Application to Product/Service (NOTE: this will become part of your Final Strategic Marketing Plan) 1. Provide a quick overview of the product or service for HUHALOS natural hair wigs for men and women. 2. The applications and research in this section will be real. o Identify the target market; Pensacola, FL. Provide a specific demographic profile and rationale for this decision. Using the "US Census Bureau's American Fact Finder". Consider the size of the market and its purchasing power. Research is required to back-up your selection and to provide statistics to show that it is a viable market. o Analyze your competition. Who are they? Who are the biggest players? How large is the market? What are the trends/forecasts in the industry? How does your product/service fit in? Hoover's Pro in the Library is a good tool for this section; it may be accessed under ?Find Web Resources?
Paper#10368 | Written in 18-Jul-2015Price : $25