MKT431 Competitive Analysis and Marketing Considerations

In this assignment, you will identify the basic components for your marketing plan, with a major focus on researching your competition. The goal is simply to identify these items since you will be completing a more detailed marketing plan in MKT/431 Small Business Marketing.

Write a 525- to 700-word paper in which you identify and describe the competitive landscape for your product(s)/service(s) and the key advantages that your product(s)/service(s) offer over your competitors. Also briefly describe the kinds of marketing, sales, distribution, and customer service activities that you plan to use to attract and maintain potential customers.

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Answer the following questions in your paper:

Make sure your paper has a clear intro

  • Who are your direct competitors? What do they offer, and what advantages might their product(s)/service(s) offer over yours? (Note: if there are no direct competitors in the marketplace, consider related industries where consumers are currently spending their money, or potential competitors that will follow your lead)
  • What advantages does your product(s)/service(s) offer over your competition? (Note: your advantages may be different for different types of customers or competitors)
  • Who are your target customers? How will your product(s)/service(s) appeal to their specific needs?
  • How do you plan to advertise your product(s)/service(s)? (e.g. on the Internet, social media, email, t.v./radio ad, newsletter, word-of-mouth) How will this type of marketing appeal to your target customer(s)? How will you highlight the value or unique characteristics of your product(s)/service(s)? What types of marketing will you use to attract new customers and grow your business?
  • How do you plan to distribute your product(s)/service(s)? (e.g. Internet, download, physical store, government contract, reseller/distributor, door-to-door, tradeshow) Will it be a one-time purchase, repeat business, or subscription service? What forms of payment will you accept? What kind of staffing will you need to support your sales efforts?
  • What kind of customer service will you provide in support of your product(s)/service(s)? (e.g. phone, email, chat, training, user guides, videos) How will you respond to product/service issues and customer complaints?
  • Have a clear and concise conclusion summarizing your points.

Summarize your ideas and research, and cite sources as needed.

Format your paper consistent with STRICT APA guidelines. Include a minimum of 2 references

 
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