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Pages:
5 pages/≈1375 words
Sources:
4 Sources
Style:
APA
Subject:
Business & Marketing
Type:
Essay
Language:
English (U.S.)
Document:
MS Word
Date:
Total cost:
$ 21.6
Topic:

Part A Assignment: Your TechnoBike Marketing Plan

Essay Instructions:

Assignment 1: Part A: Your Marketing Plan
Due Week 4 and worth 200 points
At the end of this course, you will have created a marketing plan for a hypothetical product-based company. Each assignment focuses on a different section of the overall marketing plan. For Assignment 1, you will compile information on the company's background information, an environmental analysis, your company's short and long-term goals, and a SWOT analysis.
For information on Website analytics, visit Google Analytics at http://www(dot)google(dot)com/analytics/why/.
Note: You may create and / or make all necessary assumptions needed for the completion of this assignment.
Write a five to six (5-6) page paper in which you:
Write an introduction to your company. Describe your company, its location, and the product it makes or the service it provides.
Develop an environmental analysis that includes competitive, economic, political, legal, technological, and sociocultural forces.
Determine the primary and secondary target markets for your company. Next, analyze the primary and secondary target markets that you identified for your company. Be sure to cover the 4Ps, 5Cs and STP.
Decide the main goals that you would like to achieve within the next year (short term) and the mains goals that you would like to achieve within the next five (5) years (long term). Determine the most appropriate ways to measure both short- and long-term goals. Note: Consider the following metrics: tracking downloads of Website content, Website visitors, increases in market share, customer value, new product adoption rates, retention, rate of growth compared to competition and the market, margin, and customer engagement.
Develop both a SWOT analysis and needs analysis for your product. Each analysis should examine four (4) strengths, weaknesses, opportunities, and threats for your company.
Use at least four (4) academic resources as quantitative marketing research to determine the feasibility of your product / service. These resources should be industry specific and relate to your chosen product / service. Note: Wikipedia and other Websites do not qualify as academic resources.
Your assignment must follow these formatting requirements:
Be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides; citations and references must follow APA or school-specific format. Check with your professor for any additional instructions.
Include a cover page containing the title of the assignment, the student's name, the professor's name, the course title, and the date. The cover page and the reference page are not included in the required assignment page length.
The specific course learning outcomes associated with this assignment are:
Analyze the marketing framework including the concepts of the 5Cs, STP, and 4Ps.
Develop strategies to assess performance and achieve marketing goals.
Examine the marketing science of customer behavior and products in the marketing exchange process and create dynamic strategies for competing.
Evaluate target customer segments and positioning products within these segments.
Use technology and information resources to research issues in marketing management.
Write clearly and concisely about marketing management using proper writing mechanics.

Essay Sample Content Preview:

TechnoBike Marketing Plan
Student’s Name
Institutional Affiliation
TechnoBike Marketing Plan
Summary
This report presents a marketing plan for a new bike in the Texas market. The new product will be launched and will cater for all types of customer needs such as distance recording, weather news and traffic updates, therefore, it will be an exclusive high end bike. The new golden bike with a GPS locator will be launched. There will be a unique use of innovative technology with a unique style which will be the important feature of this new end bike. Its unique feature is the possibility of customization and personalization. The strategy of the company is to serve the dynamic niche markets of the bike industry.
Company
TechnoBike Inc. will be a privately owned corporation. Its production will take place in two different countries, the headquarters will be in Texas, United States of America where the designing of the technobikes will be done and the production centers will be located in Shanghai, China. Production will also be done in U.S.A to cater for the local market, but mass production will take place in China due to labor availability with necessary skills. Sales and marketing is focused throughout the world. Company ownership is divided among the five principals who put up the initial investment. The company has a strong management team that has important experience in technology and bike industry. To remain competitive in the market, the company acknowledges and believes that it will have to continue developing new and technologically enhanced products (Iizuka & Uchida, 2017). It also has plans of investing more in research and development to continue improving the products to satisfy the needs and preferences of the customers. The management believes that its continued growth and profitability will depend on its marketing strategies.
Objectives
The primary objectives of the company is to capture 4% of the local market in the first three months by a strong brand image through marketing situation analysis. Most buyers of bikes are school students and bike riders aged between 10-30 years. The primary market of the technobikes will be youngsters and school students who buy more bikes per capita as compared to older people. Bike buying is impulsive and requires support. TechnoBikes Inc. faces strong competition from top producers such as Hyundai and Suzuki. The company has vast experience in the manufacture of innovative and high end products that will permit it to offer customer value through a branded innovative bike. Distribution will be done through branded outlets throughout the world. The company’s marketing plan is based on providing high quality and innovative bikes to customers. Technobikes will be offered in a variety of styles. This high end techno bike is one of the strategies to improve TechoBike Inc.’s growth rate.
Market Analysis
TechnoBikes bikes will be competing with other several high tech bicycles. The market size for high tech and branded bicycles is forecasted to be $600 million dollars per year. Annual market growth is expected to exceed 5% through the coming years implying that it will exceed TechnoBikes Inc.’s sales growth.
Company Analysis
Curre...
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