Marketing Components ______ Project is clearly rationalized and supported through appropriate development of a marketing plan. The marketing plan should include but not limited to: Analyze your Product/Business/Venture oDiscuss SWOT for your venture Project the market climate oConduct a thorough analysis of company consumer competitor and climate. Research is thorough practical and documented. Price the Product/Business/Venture oBased on your market analysis determine the value(s) of your product(s) by assigning it a price(s). oAside from your market analysis introduce/defend/justify your pricing. oIntroduce/defend/justify how realistic is your business venture given the amount of financial and emotional investment. Identify your target markets oBased on your market analysis identify the appropriate consumers of your product. Does the price you are charging match your target market? oWhat target market(s) do you need to convince that this is a valuable investment/ use of their discretionary income? Identify your position oHow do you plan to differentiate your product/business/venture from local/regional/national competitors? oHow does your product(s)/business/venture standout from the competition? Promotion and Public Relations oWhat elements will you use in your promotion strategy? (e.g. TV radio magazines social media etc.) §Why did you select the specified promotional activities? §What message(s) will be delivered in each activity? §Be specific with frequency/duration/price of each activity. oWhat types of public relations activities will you employ? §Why did you select the specific activity(ies)? §What is the purpose of these activities? Place oWhat is/are the location(s)? oPoint of origin for distribution? §How can consumers purchase product? oGeographic locations of target markets oDefend/justify/convince the reader that this is the approach/place for your business? oAccessibility of product/business/venture by your targeted consumers? You must SELL your product/service by convincing the investors/banks that your data supports this endeavor. ‘
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