WHAT TYPE OF TARGETING STRATEGY ARE YOU USING FOR YOUR CAREER

WHAT TYPE OF TARGETING STRATEGY ARE YOU USING FOR YOUR CAREER

Marketing plan

Describe the current competitive market for you in your career. Can you identify the number of ways an employer might fill the vacant position?

In the determination of the current position of the market of the career in marketing information systems involves gauging the current position of the following items:

The product: This includes identifying the products that are present and being sold, the position they do have in the market and getting to know the competitors of the products. This enables to plan on the improvement after obtaining this information.

The place: This normally describes where you’re selling the products and how it actually compares to competition.

Price: This involves the policies covering the prices, discounts and how it normally affects the competition.

Promotion: This determines the activities that are currently being carried out.

In the event the marketing involves a business that gives services the following is considered:

People: This covers the quality of services, recruitment and training

Processes: Involves writing down the procedures that are being uses to ensure that the consistency of the service.

Physical Evidence: This covers the message that is normally being sent the customers regarding the appearance of premises and the people.

In the event there is a vacancy the employees may be needed to recruit more staff tom occupy the position or assign more roles to the existing employees in order to occupy the vacant position. This also may mean increasing the services provided by the business in order to fill the vacancy by providing of offering the services or product needed.

 

Using the business cycle pattern, in which of the four stages is the current state of the economy for your type of career?

 

My career is in the stage of prosperity phase because it has evidenced the following features in its operations: Increased level of the output and trade, high level of demand which is effective, increased level of income and employment, increased rates in the interests and the optimism of the overall business.

Are there any laws or regulatory agencies that would have jurisdiction over your type of career?

 

The career normally functions as a free entity with minimal regulatory from the enacted laws. This normally covers or controls the services that are provided in the business.

 

Conduct a brief technology assessment, determining the impact that technology has on your type of career.

The technology has increased the number of sources of information that are accessed and the interactive interest on the media, where customers can get more information on products highly improved. The business is able to coordinate messages in the process of building the brand and getting to develop a strong customer relationship and the customer needs are satisfied. Also the high consumer expectations are well addressed in the availability of the technology.

 

Marketing Plan Questions

Define the nature and scope of the question you must answer with regard to your market. Identify the types of information you will need about the market to answer those questions.

The nature and scope of any marketing plan or strategy normally involves much questions of different nature and scope. The nature may involves that address the function of the economic role, covering areas of the legal process by which transfers of ownership is concerned, questioning on the system of interacting the business activities, addressing managerial functions and the social process in the marketing. Also the nature of the marketing involves questions addressing philosophy that is based on the consumer orientation and satisfaction and the issue of the dual objectives that involve satisfying the consumers and making the profit.

On the scope questions involved should address the following: studying the wants and needs of consumers, the behavior of the consumer, planning and developing production, the policies on pricing, distribution and promotion, satisfaction of consumer and the control of the process of marketing. The entire information on the consumers’ satisfaction, pricing, marketing controlling are the types of the questions needs to be addressed.

 

 

Determine whether or not this information can be obtained from secondary sources.

The entire information can be obtained from both the primary and secondary sources. This is due to the fact that the information needed has to cover all the areas.

The appropriate survey method(s) you would use to collect primary data for one of your information needs. What sampling method would you use?

 

Most appropriate survey method for the primary data collection is the person-administered surveys. This method involves the interviewer reading the question and recording the answers either through face to face or on telephone. This method is more advantageous in that the feedback is quality, has a good rapport, and ensures quality control and adaptability.

The most appropriate sampling method to use is stratified sampling. This method is mostly used as a probability method because it greatly reduces the sampling error. A stratum is a subset of the population that shares at least one common characteristic. Examples of stratums might be males and females, or managers and non-managers. The researcher first identifies the relevant stratums and their actual representation in the population. Random sampling is then used to select a sufficient number of subjects from each stratum. “Sufficient” refers to a sample size large enough for us to be reasonably confident that the stratum represents the population Stratifies sampling has several advantages. The stratified sampling can produce a high precision as compared to a simple random sample of the same sample population. Since it provides a greater precision, the stratified sample usually requires a small sample. This saves lots of time and resources. This sample process prevents “unrepresentative” sample for example an all male sample obtained from a population having, males and females. The stratified sample also obtains proper sample points in order t support a different analysis of all subgroups.

Marketing Plan Questions2

What type of targeting strategy are you using for your career? Should a different targeting strategy be employed?

The targeting strategy that is being used in the career is undifferentiated strategy. This target strategy is used in the event when the business decides to communicate the benefits of its products by the means of sending similar promotional message to everyone. For this type of target strategy to be successful the business product need to readily available and affordable and should provide the same benefits to all the consumers. This strategy when fully employed does not need other strategy being employed though when need be concentrated target strategy may be used.

 

Marketing Plan Assignment w4

Ch 3 P.96 Qt 1

  1. Describe the current competitive market for you in your career. Can you identify the number of ways an employer might fill the vacant position? Expand your analysis to include other people that are similar or could be substituted for you.
  2. Using the business cycle pattern, in which of the for stages is the current state of the economy for your type of career?
  3. Are there any laws or regulatory agencies that would have jurisdiction over your type of career?
  4. Conduct a brief technology assessment, determining the impact that technology has on your type of career.

 

Mktg Plan Questions

The answers to these questions do not have to be submitted until the marketing plan is submitted. The answers should become a part of your team’s marketing plan.

Ch 5 P. 169 Qt 1, Qt 2 and Qt 3

  1. Define the nature and scope of the question you must answer with regard to your market. Identify the types of information you will need about the market to answer those questions. For example do you need to know about the employment habits, revenue levels, or attitudes of potential employers?
  2. Determine whether or not this information can be obtained from secondary sources. Visit the websites provided in Table 5.3. as possible resources for the secondary data.
  3. Using Table 5.4, choose the appropriate survey method(s) you would use to collect primary data for one of your information needs. What sampling method would you use?

 

Mktg Plan Questions

The answers to these questions do not have to be submitted until the marketing plan is submitted. The answers should become a part of your team’s marketing plan.

Ch 6 P. 199 Qt 1

  1. What type of targeting strategy are you using for your career? Should a different targeting strategy be employed?

 

Personal Marketing Plan

60 point

Your assignment is to complete a personal marketing plan applying the concepts learned to the product you.  You will market yourself every day of your life. You need to do it well.

  • Learning Objective: For you to increase and apply your knowledge understanding and critical thinking skills of marketing to one of the most common and requested marketing reports in business; the marketing plan. The marketing plan is usually developed for a one year period and is based on numbers, experience, ideas and opinions.
  • The marketing plan that you create should not be less than 9 pages double spaced using size 12 fonts. Use complete sentences with good grammar and
  • Use the headings below as headings in your marketing plan.

Evaluation and review will be as follows; 1. Do you understand the concepts involved? 2. Have you determined where you are currently with the concepts?  3. Have you identified and used the concept in the marketing plan to achieve your marketing objectives. 4. Provide details for you specifically. Your marketing plan should not be so generally that it could be handed to someone else as a marketing plan for that person. EVERY time you use in your personal marketing plan such words as “I will …, I plan… etc.” you should have in your marketing plan how you specifically “will” “plan””  “.

  • Marketing plan DRAFT is due for Comments November 6, 11:59 p.m.
  • Final Marketing Plan due for grading November 20, 11:59 p.m.

Mission Statement

What you will do for others and society.

Place your favorite quote or slogan here.

Marketing Strategy (Ch 2 of Textbook)

Future Objectives (State what will be achieved in measureable terms, make them achievable but challenging and state the time period to achieve).

You might consider such things as graduate programs, employment, salary level, balance between family and career, social responsibility and community engagement.

Situation Analysis  (Ch 3 of Textbook)

SWOT Analysis

Strengths

You might consider such things as work ethic, analytical, creative skills, problem solving skills, leadership skills, willingness to operate outside comfort zone, communication skills, ability to meet and greet, experience, personal characteristics like patience or impatient, quantitative orientation, detail or big picture orientation, personal confidence, technology knowledge and skills. Give examples of proof of these strengths.

AS you develop your personal marketing plan how and when specifially you can use your strengths to your advantage in achieving your marketing plan objectives.

Weaknesses

You might consider such things as listed in strengths above. It is difficult however for a characteristic to both strength and a weakness.

AS you develop your personal marketing plan how specifically and when are you going to convert your weaknesses into strengths in achieving your marketing plan objectives.

Opportunities

You might consider such opportunities as your network of family, friends, social networks,  college major, economy, industry, occupation and employment conditions, travel opportunities, cultural, knowledge and skills certifications. Give examples and explain how what you listed are opportunities. (Remember opportunities are not controllable by you. They are external to you.)

 

Threats

You might consider such things as the potential job, market competition, and downsizing of organizations, industry trends, technology, political and legal environment, social changes. (Since weaknesses are external to you and therefore not controllable by you explain how you will change your plans if the threats comes to be. This will be done later in the marketing plan as plan B or contingency plans.)

 

Market Summary (Ch 3 of Textbook) Market Research (Ch 5 of Textbook)

 

Consider the career and occupation that you want and gather information (do marketing research) about that market and what you will face. For instance, if you want a career in sports marketing, the market for positions in sports marketing is super competitive with large numbers of young women and men wanting careers and a limited number of positions.  With the competitive environment, to qualify for serious consideration by an employer requires experience (possibly obtained thorough unpaid internships), a well-developed networking system and willingness to accept an initial position with a job description involving many menial tasks at a low salary. With this knowledge of the market, the marketing plan objective is to overcome the obstacles to starting a successful career in sports marketing.

Marketing research provides some of the information needed to develop a personal marketing plan.  Marketing research will include informal and formal research.  Speaking with career counselors at the university career center and with people in the industry is an example of informal research. Online research perhaps of the U.S. government bureau of labor statistics, Occupational Outlook Handbook, would be more formal research of secondary sources.  General information is helpful but detailed specific information is more useful in developing a personal and specific marketing plan.

Target Market (Ch 6 of Textbook)

Consider such things as the type of organization, industry, firm(s), and firm size

Product Description (Ch 8 P. of Textbook)

Describe yourself in ways that separates you in value to the potential employer from the rest of those competing with you. What are your skills, knowledge, work habits, etc. that will bring more value to the task, occupation, position that you have that others have less of or do not have at all.

Branding (Ch 14 of Textbook)

In the next twelve months, I plan to do the following things to build my brand: e.g. leadership roles in professional organizations, internship, take an elective in quantitative methods.

 

Positioning Myself (Chs 6 and 12 of Textbook)

I will position myself as (What separates you from the rest of the pack?) What is it about you that you will be selected for an interview, a second interview, for the short list and offered the position?

Promoting Myself (Chs 17, 18 and 19 of Textbook)

(Should be specific with what, when, where, why and how.)

Place your 60 second elevator speech here.

Advertising; e.g., I plan on developing a professional resume, join professional social networks; eliminate all personal social media pages on networks.

Sales promotion; e.g., will complete an internship in the industry that I want to work in and preferably with the company that I want to work. (This is sales promotion because it provides inducement for the employer to immediately hire person as an intern with reduced wages or no wages and assess person’s skills on the job with little risk.)

Personal selling; e.g., I will always be professionally dressed and well groomed. I will also take advantage of mock interviews. I will use the university’s career center.  I will develop my personable skills. Again be specific with what, when, where, why and how.

Public relations; e.g. I will always be aware of my actions and behavior and how they appear to others, professionals, fellow students, project group members and my professors.   Publicity

 

Pricing (Chs 20 and 21 of Textbook)

Pricing strategy; e.g. I will engage in price competition in my career and will accept a lower salary if the position has potential for advancement, excellent training and provides valuable experience. Or I will non-price compete with differentiation from other individuals with verifiable knowledge, skills, strengths and minimize and eliminate weaknesses.

E.g. my goal is to make $xx,xxx annual on my first full time position after graduation.  To increase my salary by x percent each year

Relationship Development (Chs 10 and 19 of Textbook)

Personal relationship skills and how used

People that I plan to strengthen relationships with and how

 

Social Responsibility (Ch 4 of Textbook)

The main social responsibilities I feel as a part of my career and life going forward. (List and explain)

1.

My Code of Ethics (Right and wrong decisions with regard to other Individuals)

 

Controls (Ch 2 p. 49+ of Textbook)

Here are my objectives for the next one, three and five years:

Within the next year

  • I plan to complete…
  • I plan to …

Contingency plan or plan B I will …

 

Within the three years

  • I plan to complete…
  • I plan to …

Contingency plan.  I will …

 

 

Within the five years

  • I plan to complete…
  • I plan to …

Contingency plan.  I will …

 

Personal contingency plan. There are definitely personal developments that could change my plans in the next five years; e.g. marriage and spouse influence on where live and work, becoming a parent, etc.

 

I don’t want marketing plan so general and try to be specific of what you going to do

 

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