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Define Your Company:
What is it?
What does it do/produce?
Define specifics: size, location, etc.
Use your marketing research in step 1 to further decide the details of your company.
Market Your New Company
Step 1: Market Research
Step 2: SWOT Analysis
Step 3: Customer Segment Research
Step 4: Design/Build your Brand
Step 5: Advertise your Brand
Step 6: Relay/Communicate your New Company
Marketing Research
Primary ResearchSurvey
focus group
observation, experimental
Secondary Research Online Databases
Step 1: Marketing ResearchExplain the primary research methods
your group would use if you were to actually conduct marketing research for your company & explain why.
Conduct secondary online marketing research for your Company.
Find what your clients, customers, or prospects would like about your company . What do they want or need from your product or service.
Step 2: S.W.O.T. Analysis
Thoroughly evaluate your company based on your secondary research in step 1 to find their possible strengths, weakness, opportunities, threats
Example Site: www.hoovers.com
Customer Segment ResearchGeographic (ex. Local-be specific, national, global)
Demographic (ex. Age, gender, education, income)
Psychographic (personality, values, attitudes, interests)
Behavioral (what they “tend” to do)
Step 3: Customer Segment ResearchResearch possible customer segments
for your company/product.
Describe each segment by:Geographic, demographics, psychographics, and any behavioral characteristics.
Define which customer segment you will focus on as your target market
Step 3: Example Sites:
Geographic/Demographics:
www.melissadata.com/lookups/
www.freedemographics.com/
www.prb.org
www.fedstats.org
www.census.gov
Psychographics:http://www.claritas.com/MyBestSegments/Default.jsp?ID=0&SubID=&pageName=Home
Building a Brand:
Create a Brand Name and Slogan
Product/Company Appearance (e.g. packaging & labeling)
Design a logo
Create a website
Determine appropriate product/service mix
Step 4: Design/Build your Company BrandDesign a name and slogan for your
product/service
Create a Logo (may be drawn or created on computer)
Create a layout/computer sketch of what your website homepage will look like
AdvertisingNewspapers
Television
Direct Mail
Magazines
Outdoor (flyers, stands)
Internet (search engine optimization)
Blogs
Radio
Step 5: Advertise your Brand
Research different advertising options that have worked for your product/service category
Use this information to decide on which major media types you will use to advertise your product.
Create an estimated budget for advertisingMake sure to allocate resources appropriately to best reach your target market
Example Research Sites:Radio and TV Commercials: www.youtube.com
Print Ads: www.adage.com
Marketing Communication
s:Sales Promotions:Coupons, refunds/rebates, price packs, premiums, loyalty rewards, contests/sweepstakes
Professional Selling:Personal selling philosophy, define best product/service attributes
Public RelationsPress relations, product publicity, public affairs, lobbying, investor relations, development
Step 6: Relay/Communicate your
New CompanyPick 1 of the marketing Communications that you feel is most appropriate for your company/product
If you select sales promotion: design a coupon, rebate, loyalty rewards program, or a contest/sweepstakes to go along with your product.
Try Google image search for examples (coupons especially)
If you select personal selling: define a selling philosophy that your group would use to sell your service/product, along with strong selling points of your service/product.
For help to develop your selling philosophy: www.inddist.com/article/164409-What_s_your_sales_philosphy_.php
If you select Public Relations: create a press release about your new product/service to be distributed to the appropriate media (e.g. newspaper, internet through search engine optimization
For help in developing your press release: www.prurgent.com/press_release_help.htm
Project Reflection:
Individually visit this website & complete survey:
www.surveymonkey.com/s.aspx?sm=f73KxOCoOhi0GV4mGavRQg_3d_3d
Once you have completed this survey you have completed this project.