Student Solution

-->

"Education is the most powerful weapon which you can use to change the world”
– Nelson Mandela

1 University

1 Course

1 Subject

Strategic Marketing Module 1 SLP

Strategic Marketing Module 1 SLP

Q Research and discuss Maslow’s theory of needs and how it is applied to marketing. Resources MUST include articles in the library’s full-text article databases (Academic Search Complete, Business Source Complete, and/or ProQuest Central). Define the stages of the consumer behavior model (or industrial model, if appropriate) and apply how the concepts affect the marketing effort. Resources MUST include articles in the library’s full-text article databases (Academic Search Complete, Business Source Complete and/or ProQuest Central). Application to Product/Service Provide a quick overview of the product or service you created. Even though you have "created" a product or service, the applications and research in this section will be real. Identify your target market. Provide a specific demographic profile and rationale for this decision. Another source that may help you: The US Census Bureau's American Fact Finder. Consider the size of the market and its purchasing power. Research is required to back-up your selection and to provide statistics to show that it is a viable market. Analyze your competition. Who are they? Who are the biggest players? How large is the market? What are the trends/forecasts in the industry? How does your product/service fit in? IBISWorld in the Library is a good tool for this section; it may be accessed under “ADDITIONAL LIBRARY RESOURCES” and then scroll down to the database.

View Related Questions

Solution Preview

The product management and situation analysis will help the company to understand the targeted customers and to understand the existing level of competition in the market. In this paper, there will be a detailed discussion on theory of needs and its importance of marketing, consumer behavior model, product overview, and competition. All of these factors will help to understand the actual prospect of the product in a proper manner.