(Environmental Analysis and Target Market). In this paper you will examine the marketing mix – or the 4 P’s – of your business.

1 (Environmental Analysis and Target Market). In this paper you will examin" rel="nofollow">ine the marketin" rel="nofollow">ing mix – or the 4 P’s – of your busin" rel="nofollow">iness. You also have the option of presentin" rel="nofollow">ing this section as a powerpoin" rel="nofollow">int presentation usin" rel="nofollow">ing the guidelin" rel="nofollow">ines below. Your paper should be divided in" rel="nofollow">into the followin" rel="nofollow">ing sections and address the followin" rel="nofollow">ing factors: Product The term “product” refers to tangible, physical products as well as services. In this section, you are asked to describe the product offerin" rel="nofollow">ings of your busin" rel="nofollow">iness, addressin" rel="nofollow">ing such factors as: •What does the customer want from the product/service offered by your busin" rel="nofollow">iness? What needs does it satisfy? What features does it have to meet those needs? •How is your product differentiated versus your competitors? •How is it positioned within" rel="nofollow">in the market? •Discuss your brand name and symbol. Are there any packagin" rel="nofollow">ing needs; if so, describe. •What product lin" rel="nofollow">ines will you offer? Give examples of product items within" rel="nofollow">in each lin" rel="nofollow">ine. Price From a marketin" rel="nofollow">ing viewpoin" rel="nofollow">int, price is the money exchanged for the ownership or use of a product or service. From a consumer’s viewpoin" rel="nofollow">int, price is often used to in" rel="nofollow">indicate value when it is compared with perceived benefits such as quality, durability, etc. In this section, you are asked to address the followin" rel="nofollow">ing: •What is the pricin" rel="nofollow">ing strategy you have adopted for your product or service? •Are there established price poin" rel="nofollow">ints for these products or services in" rel="nofollow">in you area? What are they? What will you charge for your services? •How will your price compare with your competitors? •Is your customer base price sensitive? Will a small decrease in" rel="nofollow">in price versus your competition gain" rel="nofollow">in you extra market share? Conversely, will a small in" rel="nofollow">increase in" rel="nofollow">in price versus your competition cause you to lose market share? •What discounts should be offered to your customers (if any)? Place Place is essentially about gettin" rel="nofollow">ing the product or services to your customers where they want to buy them – you have to offer the product to the buyer at the right place at the right time. This section of your paper should address: •Where do you plan to offer your products or services for sale? Be specific. If you are offerin" rel="nofollow">ing your products for sale in" rel="nofollow">in a store, for example, what kin" rel="nofollow">ind? A specialty boutique, a supermarket, a department store? Onlin" rel="nofollow">ine? •What do your competitors do, and how can you learn from that and/or differentiate? •How can you access the right distribution channels to make certain" rel="nofollow">in that your product is available where your customers want it? Promotion Promotion represents the various aspects of marketin" rel="nofollow">ing communication about the product or service with the goal of generatin" rel="nofollow">ing a positive customer response. This section of your paper should address: •Where and when can you get across your marketin" rel="nofollow">ing messages to your target market? •Will you reach your market by advertisin" rel="nofollow">ing in" rel="nofollow">in the press, on TV or radio, on the Internet, on billboards, or some other fashion? •How do your competitors do their promotions, and how does that in" rel="nofollow">influence your choice of promotional strategy? •What other non-advertisin" rel="nofollow">ing forms of promotion will you use? Social media? Personal sellin" rel="nofollow">ing? Sales promotion? Public relations and publicity? Give examples of each. •What message will your promotion emphasize? Your report should be a min" rel="nofollow">inimum of 4 pages long, not in" rel="nofollow">includin" rel="nofollow">ing a cover page and/or references. You should use 1” margin" rel="nofollow">ins throughout as well as a 10-12 Times New Roman font or similar font.