Week 2 Assignment
Evaluating Marketing Strategies
When exploring the marketing plans of various companies, you will undoubtedly discover how some businesses have already experienced success, but also find themselves facing a highly competitive environment in which they must re-evaluate their target market. Perhaps a company has already tried to make some adjustments to their original marketing plan, and has been considering additional steps that it might take to increase profitability.
To prepare:
Review the assigned course text chapters.
Review the media piece in this week’s Learning Resources.
Search online for a case study on which to focus for this Assignment. Your task in this Application is to make suggestions to the marketing manager in the case study you select. Keep in mind that the case study or example you select must allow you to satisfy the requirements of the assignment.
Note: When searching for case studies, you may want to explore the Walden Library or use a search engine such as Google. Be sure to search for key terms included in the prompts above.
Submit by Day 7 the completed Week 2 Assignment Template in which you explain the following in 250–350 words:
How the target market changed over time
Whether you think the marketing manager should make changes to the products he/she offers
Recommendations you might make to the marketing manager
How the marketing manager might be more certain that any actions he/she takes will more completely address the needs of the target consumer group
The risk(s), if any, that are involved with implementing your suggestion(s)
Required Resources
Readings
Perreault, W. D., Jr., Cannon, J. P., & McCarthy, E. J. (2014). Basic marketing: A marketing strategy planning approach (19th ed.). New York, NY: McGraw-Hill/Irwin.
Chapter 3, “Evaluating Opportunities in the Changing Marketing Environment” (pp. 56–85)
Chapter 5, “Final Consumers and Their Buying Behavior” (pp. 116–141)
Columbus Metropolitan Library. (n.d.). Using demographics to target your market. Retrieved July 23, 2014, from http://www.columbuslibrary.org/research/tutorials/using-demographic
Sessoms, G. (n.d.). The importance of demographics to marketing. Retrieved July 23, 2014, from http://smallbusiness.chron.com/importance-demographics-marketing-25365.html
Suttle, R. (n.d.) What is demographics in marketing? Retrieved July 23, 2014, from http://smallbusiness.chron.com/demographics-marketing-22008.html
Wilson, E. (2009). Know your target market. Retrieved from http://www.entrepreneur.com/article/202334
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