BUYER BEHAVIOR, MARKET ANALYSIS, AND PUBLIC RELATIONSAssignment Overview
Marketing, Pricing, and Selling to Customers
Companies large and small create marketing strategies and make pricing decisions that affect the success of products or services. Before a product is introduced, the business must research who is most likely to buy it, at what price, and how they can communicate with that group.
Case 1 Resources
The Marketing Concept (2021)
Creating a Marketing Strategy (2021)
What Is a Product? (2021)
Developing a Marketing Mix (2021)
Market Segmentation (2021)
Creating Products That Deliver Value (2021)
Pricing Strategies and Future Trends (2021)
Trends in Developing Products and Pricing (2021)
After completing case readings, head to IBISWorld (Click Additional Library Resources on the Library Portal Page) and select an industry that interests you; one that an entrepreneur or small business can enter.
Write a background of the industry. Include key figures and information about the industry, its performance, and outlook. Report the most important information. Cite and reference IBISWorld. (1/2 page)
Next, write about the competitiveness of the industry and a COVID-19 (Coronavirus) Impact. Complete this section with an overview of its two largest players: their target markets and how they differentiate themselves. Cite and reference IBISWorld. (1 page)
Do an internet and social media search on the industry’s two largest competitors and provide an analysis of how they market their products, deliver value, and talk about price. It is important to provide citations for your research. (1 page)
Based on the research above, provide advice for an entrepreneur who wants to enter the industry. How can the new business differentiate itself? What is its target market? How can it compete on price or value? (1/2 page)
No quotations are permitted in this paper. Each paragraph (except the introduction and conclusion) must contain at least one in-text citation.
Since you are engaging in research, be sure to cite and reference the sources in APA format. NOTE: failure to use research with accompanying citations to support content will result in reduced scoring “Level 2-Developing” on the grading rubric.
This is a professional paper; not a personal one based on feelings. It must be written in the third person; this means words like “I”, “we”, and “you” are not appropriate.
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