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Hrm 531 Week 4 The Marketing Planning Process

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Part one: Methodologies - Methods with which you accumulate specific knowledge on who you're selling to, why you're selling it to them, what you're selling, how to promote what you're selling, and how to get it to them effectively. Why it's important - in order to have a defined and specific target market that you are able to determine the problems of, and can then conceptualize and execute the solutions for. To know your market and how to attend their wants and needs will help lead to a successful product/ service. It is also important to know your competitors so that you can understand the standard and exceed it. How to get information on: 1. Target markets - Target market research encompass things such as surveys and questionnaires where …show more content…

Unique Selling Points - Finding out what specific problems the target has with your type of product, or what attributes that they wish it had, and fulfilling that. Creating the appeal you know that they're looking for. 3. Brand loyalty - Identifying the recurring type of customer that keeps buying your product or using your service, asking them why it appeals to them, and place emphasis on the attribute that keeps them, and others like them, returning. 4. Marketing methods: Define the problem - the foundation you lay down in order to set objectives. Develop your research plan - go directly to the source and find out information from the target, do surveys, ask specified questions and develop a plan. Collect relevant data and information - make sure your information is unbiased and valid, and comes from all angles. Analyze data and report findings - interpret data and search for trends, making your information relevant as possible. Take action - execute the planning and research put …show more content…

I’ve chosen three places that sell chicken And have given my personal observations. KFC Strengths and weaknesses - This chicken is cheap and it’s tasty and has marketed itself to a very wide audience as most people can afford it, but sometimes it has a questionable appearance, or it’s greasy/oily, and is very much not good for you. Market - Those who want a quick and cheap meal staple. KFC, often in their advertisement, appeals to youth culture by being ‘hip’ or often appealing to the feelings of home to drive their customers. Nandos Strengths and weaknesses - It is a high quality and good tasting chicken with varieties of sauces and sides. It is also grilled so it’s a better option for your health, but is a costly option. Market - More affluent customers. Nandos advertisements are on top of political issues and are very satirical or quirky about serious matters in their ads. But their wit is attractive. Spar Strengths and weaknesses - Most of the time it is good tasting and fresh and it is definitely affordable, but some days it sits under a warming light all day and gets dry or un-appetising. It comes crumbed or grilled which is a nice option, but mostly the whole chickens are very small so not worth

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Introduction At the start of this course, I had no idea what to expect. This is due to the fact that marketing is a field that offers a combination of so many different disciplines such as art, psychology, and statistics. I encounter marketing on a daily basis but have strangely enough not reflected too much about it. Nevertheless, it is a very interesting subject, which deals with promoting and selling services and products.

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