This website uses cookies to ensure you have the best experience. Learn more

Marketing Plan "Phase Ii Paper"

1346 words - 5 pages

Marketing Plan "Phase II Paper"The purpose of business is to succeed, to be profitable and increase its presence in the market. Any business that has a new product to present to the market must first do a tremendous amount of research to ensure that success. Research involves more than just a survey that may have sufficed in the past. Today businesses must consider what segment of the population is the target market, and not stop there since then it must be divided into demographic, geographic and psychographic segments. The company will then have to decide who the organizational buyers and consumers will be. Competitors must be considered and analyzed for the product before it is made known to the world. All these components are just part of the marketing plan that Merck has for its Universal Drink.SegmentationThe target market Merck is aiming at is young females between the ages of 18-20, women with medical problems that birth control can help decrease and sometimes prevent the problem from getting worse because these women are unable to swallow pills. Given all the options available, women may find choosing a birth control method confusing. You can make it a little easier by considering your lifestyle, goals and health status. Consider these factors as you decide on a birth control method that's right for you:•How you feel about planning for sex•Your comfort level with inserting contraceptive devices into your body•Your diligence in following directions, whether it's taking a pill every day or tracking your fertile days•How effective the method is at preventing pregnancy•Whether you plan to have children someday•How often you have sex•How the method alters your sexual experience•Whether you smokeAs you make your decision, you may find it helpful to know that Merck is producing an easier more convenient way for women to take birth control and eliminate so many unwanted pregnancies along the way. The Universal drink is just like Vitamin water, different flavors, convenient and inexpensive. The segmentation criteria's that will impact Merck's target market mainly will be the demographic and geographic segments.Demographic segmentationDemographic segmentation is the process of segmenting market based on variables such as gender, family size, family life cycle, income, occupation, education, religion, race and nationality. This is the most popular bases for segmenting customer groups because consumer needs, wants and usage rates often vary closely with demographic variables and easier to measure than most other types of variables. Companies who use age and life-cycle segmentation offer different products or use different marketing approach for different age and life-cycle groups.Geographic and Psychographic segmentationGeographic segmentation calls for dividing the target market into different geographical units such as cities, inner city neighbor hoods or commuter towns. In this way of segmenting market, a...

Find Another Essay On Marketing Plan "Phase II Paper"

Marketing Plan: Phase II (Pepsi) Essay

1251 words - 5 pages Introduction: In phase II of our marketing plan, Pepsi is consistent in introducing a new product and service that will easily outsell its competition. In achieving this goal, marketers have defined critical factors that will determine the buyers and consumers of our product. In creating an effective marketing strategy, Pepsi will address key characteristics that effect the decisions and purchasing power of consumers that involve market

Marketing Plan: Phase III Paper

2036 words - 8 pages This paper will discuss phase III of the marketing plan for Wedo's Tacos. Phase III will discuss four specific aspects of the marketing plan, the attributes of the new products and service, the factors and impacts of the product life cycle, differentiation and strategy of the product and service, and lastly the appropriate price strategy for the products and services of Wedo's Tacos.The attributes of new products and servicesThe previous phases

Marketing Plan Phase II Paper

1578 words - 6 pages within the household. To solely look at individual car purchasing behavior is to ignore an increasingly important part of the decision-making process within families.When identifying the organizational buyers and consumers One of Toyota's primary thrusts is to broaden Toyota's appeal in introducing their hybrid vehicles fashioned for a younger age bracket and for those people with long commutes. Toyota established the hybrid marketing group to

Marketing Plan "Phase II Paper"

1620 words - 7 pages demographic, geographic and psychographic segments. The company will then have to decide who the organizational buyers and consumers will be. Competitors must be considered and analyzed for the product before it is made known to the world. All these components are just part of the marketing plan that Merck has for its Universal Drink.Segmentation CriteriaMerck & Company's target market is young females between the ages of 18-20, women with medical

Marketing Plan Phase 3

1622 words - 6 pages This paper is the third phase of developing a marketing plan for Riordan Manufacturing's biodegradable water bottles and will focus on product attributes, anticipated pace through the product lifecycle, factors impacting movement through the product life cycle, life cycle impact on marketing, positioning of the product, differentiation strategies and an appropriate pricing strategy.Product AttributesRiordan an established manufacturer of plastic

Marketing Plan Phase IV

5242 words - 21 pages to ensure success. To recap, Phase I Marketing Plan included: introduction of new product, explanation and features of product, and the marketing approach.Phase II of Speak Easy Corporation's approach for the Voice Translator marketing plan will include identifying the target audience, explaining how this niche of the market will be reached, describe the purchasing consumer along with researching the behavioral characteristics of the potential

Marketing Plan Phase III

2029 words - 8 pages superior competitors, it goes into decline and is eventually withdrawn.However, most products fail in the introduction phase. Others have very cyclical maturity phases where declines see the product promoted to regain customers. (Marketing Teacher [MT], 2005)Strategies for the differing stages of the Product Life Cycle.Introduction.The need for immediate profit is not a pressure. The product is promoted to create awareness. If the product has no or

Marketing Plan: Phase I

1365 words - 5 pages Marketing Plan: Phase PAGE \* MERGEFORMAT 1 Running head: MARKETING PLAN: PHASE 1Marketing Plan: Phase 1MKT/421University of PhoenixMarketing Plan: Phase 1Ice cream is a famous frozen dessert that is usually made from milk and cream, which can be combined with different fruits and other ingredients to add flavor. But people now a day's are very health cautious. This is why at Breyers we are coming up with a new herbal and organic ice cream

Marketing Plan Phase I

1364 words - 5 pages Marketing Plan Phase I: Market Segmentation for Happy Paws DaycareThis paper will define the market segmentation for Happy Paws Daycare. This paper will analyze HPD's mission statement, geographic location and product mix; using this information this paper will perform an complete SWOTT analysis. This will ultimately be used to outline the opportunities and dangers that the management of Happy Paws must keep in mind in order for Happy Paws to be

Marketing Plan: Phase I

1428 words - 6 pages Marketing Plan PAGE \* MERGEFORMAT 2 Marketing Plan: Phase 1Zulema Buckner, James Lee, Arika MobleyLeslie Stacks, Michelle WalkerMKT 421University of PhoenixKen LeCourAugust 15, 2007Marketing Plan: Phase 1Satellite radio is the new emerging industry with just a pair of competitors, and XM Satellite Radio has established itself as the 800 pound gorilla of this fledging market. Nearly 4 out of 5 satellite radio listeners subscribe to XM Radio

Marketing Plan - Phase IV

5544 words - 22 pages Marketing Plan - Phase IVIntroductionEvery successful business needs a plan. The better the planning, the less likely unexpected problems arise. This paper will present an overview, and a marketing strategy for the Sierra Milling Company's customized motorcycle and automobile parts.OverviewThe Sierra Milling Company, located in Cheyenne, Wyoming, is a small operation specializing in providing customized fabrication of parts and fixtures for

Similar Essays

Marketing Plan: Phase Ii Paper

1382 words - 6 pages This paper will discuss phase II of the marketing plan for Wedo's Tacos. Phase II will indentify the target market and discuss segmentation criteria and the impact of the data on the target market. The paper will also describe the consumers and organizational buyers of Wedo's Tacos and the factors which influence purchasing decisions as well as discussing the impact on marketing strategies. Lastly the paper will analyze current competitors and

Marketing Plan: Phase Ii Essay

2022 words - 8 pages Untitled Marketing Plan: Phase II Replay Radio is the new product introduced by XM Radio. This product is intended to revolutionize satellite radio. The proper marketing strategy and plan will ensure that this product will be a success. This paper will summarize the product's life cycle and describe the product's attributes. Team B will also identify a price strategy, analyze the impact of channel management, identify a

Marketing Plan Phase Ii Essay

1961 words - 8 pages Marketing Plan II PAGE 6 Marketing Plan Phase IIShahram DashtipourJudge Edward SingletonMelissa KlineCruz MaldonadoMarketing 421University of PhoenixGroup WH06BSM03Professor Richard HartmanJune 28, 2007IntroductionSpeak Easy's Voice Translator is a new product that will assist people of all ages and backgrounds with the ability to communicate in other languages without having to know the language. The product is revolutionary for its time and

Marketing Plan Phase Ii Essay

1347 words - 5 pages Marketing Research for Happy Paws DaycareThis paper will explore the concept of marketing research as it relates to Happy Paws Daycare. Potential forms of market research will be identified, products and services will be defined and product life cycles will be mapped out. This paper will demonstrate how market research will be implemented to the benefit of HPD.Market ResearchAs mentioned before, Happy Paws Daycare will focus on "young dual