Many students find marketing to be one of the most difficult courses in their college curriculum. It’s an important skill to have, however, and will come in handy in your future career no matter what you end up doing for work. If you want to make sure you do well in marketing, or any other course that involves researching and analyzing information, it’s a good idea to invest some time into finding reputable sources of help when you start running into trouble with your work.
Defining Your Target Market
There are many factors that will determine what your target market is. Some of these include who your target customers are, where you want your business to be found, and what products or services you offer. For example, if you own a bakery in the city and cater mostly to people who live nearby, then most likely the majority of your customers will be middle-aged women. If you offer catering services for events and the majority of the people at these events happen to be families with children under 10 years old then it would make sense that they would be a suitable target market as well. The Math Homework Help page on this website also offers some great tips on how to write a marketing plan as well as how to create a pricing strategy.
Segmentation
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Positioning
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Creating a Unique Selling Proposition
Your unique selling proposition is the single sentence that highlights how your product or service is different from what is offered by your competitors. These sentences are often referred to as the elevator speech because they can be delivered in a short elevator ride with someone who has not yet heard of your business. Make it compelling and concise so people will want to know more.
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Conducting Primary Research
Primary research is important for understanding the market that you are planning on entering. It also helps you identify key players and assess the market size. You can use primary research through interviews, questionnaires, surveys or focus groups.
This type of research is time-consuming and can be expensive, but it will provide greater depth than secondary research. Secondary research may not always be accurate as it has been collected from previous sources such as journals and websites. If you have the opportunity to choose between secondary or primary research, go with the former because of its high cost-effectiveness ratio and fast turn-around time.
