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7 pages/β‰ˆ1925 words
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APA
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Business & Marketing
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Term Paper
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English (U.S.)
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Topic:

Xtreme Auto Inspectors: Potential Market Characteristics

Term Paper Instructions:

In this term project, I choose “Used-Car inspection” service I would like to market as an entrepreneur. With some basic diagnostic equipment and mechanical know-how, however, used-car inspectors can help steer clients away from "lemons." Developing a roster of appreciative customers puts you on the road to referrals--and success.
Marketing Plan FormatThe development of a Marketing Plan is the culminating project for this class. While there is no one format used by all companies, each section and subsection outlined below must be included in this project. Additional components may be incorporated, but must be pertinent to the marketing objectives.   I. Executive Summary a. Comprehensive one-page summary addressing who, what, when, where, how, and why of marketing planb. Cover and Table of Contents c. Cover should be creative representation of brandd. Table of Contents must accurately reflect sequence of pagese. Introduction f. Mission Statementg. Description of Companyh. Description of Product or Service II. Target Market a. Describe characteristics of potential market: What is the basis for choosing this market segment? Indicate how these segments were selected rather than others.  b. Discuss your methodology for Marketing Research i. Primary research1. Research design2. Data collected3. Data analysis ii. Secondary researchc. Situation Analysis i. The External Environment ii. Political-Legal Factorsiii. Economic and Business Conditionsiv. Social and Cultural Factorsv. Technological Factorsvi. Competitive Factorsd. SWOT Analysis i. Discuss Internal Strengths and Weaknessesii. Discuss External Opportunities and ThreatsIII. Marketing Strategy a. Positioning Strategy i. How will product differentiation benefit target customers? For example, Charmin toilet tissue is positioned as "soft" and Volvo is strongly identified with "safety," FedEx is positioned on "overnight," Xerox is "the document company," and Domino’s Pizza is positioned on "delivery."b. Customer Relationship Managementi. Provide strategy to build and manage customer relationshipsii. Include at least one business marketing relationship (partnership, co-branding, or co-marketing)c. Marketing Mix: Be specific and detailed in your strategies. i. Product Strategy: Includes recommendations regarding product modification and improvements, product augmentation, branding and protecting brand equity, packaging, the product/company name, customer service, etc. Be as specific and detailed as possible.  ii. Pricing Strategy: Includes the overall pricing strategy. Define the strategy first; then discuss tactics (selecting a price point, providing discounts & allowances, promotional pricing, etc.). Analyze competitive pricing, estimated costs, and customer perceptions and recommend a specific price or range of prices.  (This should refer back to primary and secondary data collection.) A specific price, based on all the information and strategies available is needed.  Justify this price! iii. Distribution Strategy: Includes appropriate distribution coverage (intensive, selective, or exclusive distribution) and the most appropriate distribution channels (e.g., wholesalers and retailers, direct marketing, vertical marketing systems, franchising, etc.).iv. Promotion Strategy: Provide examples of print ad, brochure, coupons or other promotional tools.1. Includes appropriate plans for integrated marketing communications (using some combination of advertising, sales promotion, trade sales promotion, publicity, and/or personal selling) as appropriate. For example, if magazine advertising is to be used, recommend specific magazines by name; if television advertising is to be used, discuss the time of day, type of show or cable station, etc. where the ad will run.2. Describe the tone of advertising campaign; i.e., humorous, sexy, fearful, etc. 3. Suggest MPR (Marketing Public Relations) activities to support marketing goals.v. Social Media Strategy: Choose an appropriate social media platform for this project that will reach the intended target market. Define specific objectives and how this platform will be used and monitored. IV. References - APA 6th Edition Formata. Appendix b. Attach copies of research design, data collected, and data analyses used in primary research.c. Attach the Timeline for first three years of marketing plan. d. Any other tables or figures supporting the marketing plan should also be included here.

Term Paper Sample Content Preview:

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Date of Submission
TABLE OF CONTENT
TOC \o "1-3" \u Executive Summary PAGEREF _Toc497424253 \h 4
Introduction PAGEREF _Toc497424254 \h 5
Mission Statement PAGEREF _Toc497424255 \h 5
Description of Company PAGEREF _Toc497424256 \h 5
Description of Service PAGEREF _Toc497424257 \h 6
Target Market PAGEREF _Toc497424258 \h 6
Potential Market Characteristics PAGEREF _Toc497424259 \h 6
Marketing Research PAGEREF _Toc497424260 \h 7
Primary research PAGEREF _Toc497424261 \h 7
Research design PAGEREF _Toc497424262 \h 7
Data collected PAGEREF _Toc497424263 \h 7
Data analysis PAGEREF _Toc497424264 \h 8
Secondary research PAGEREF _Toc497424265 \h 8
Situation Analysis PAGEREF _Toc497424266 \h 8
The External Environment PAGEREF _Toc497424267 \h 8
Political-Legal Factors PAGEREF _Toc497424268 \h 9
Economic and Business Conditions PAGEREF _Toc497424269 \h 9
Social and Cultural Factors PAGEREF _Toc497424270 \h 10
Technological Factors PAGEREF _Toc497424271 \h 10
Competitive Factors PAGEREF _Toc497424272 \h 10
SWOT Analysis PAGEREF _Toc497424273 \h 11
Discuss Internal Strengths and Weaknesses PAGEREF _Toc497424274 \h 11
Strengths PAGEREF _Toc497424275 \h 11
Weaknesses PAGEREF _Toc497424276 \h 11
Discuss External Opportunities and Threats PAGEREF _Toc497424277 \h 11
Opportunities PAGEREF _Toc497424278 \h 11
Threats PAGEREF _Toc497424279 \h 12
Marketing Strategy PAGEREF _Toc497424280 \h 12
Positioning Strategy PAGEREF _Toc497424281 \h 12
Customer Relationship Management PAGEREF _Toc497424282 \h 12
Marketing Mix: PAGEREF _Toc497424283 \h 13
Product Strategy: PAGEREF _Toc497424284 \h 13
Pricing Strategy: PAGEREF _Toc497424285 \h 13
Distribution Strategy: PAGEREF _Toc497424286 \h 14
Promotion Strategy: PAGEREF _Toc497424287 \h 14
Social Media Strategy: PAGEREF _Toc497424288 \h 14
REFERENCES PAGEREF _Toc497424289 \h 15
Executive Summary
Extreme Auto Inspectors is a modern vehicle inspection service for used cars. The business niche area is used-car inspection particularly for prospective buyers of used vehicles. The business operates on a mobile business model that allows it to take services to the customers’ doorstep. The company uses computerized, mobile vehicle inspection equipment that is tailored for every conceivable car model. Customers who need used-car inspection servicesbook appointment by making a phone call. Xtreme Auto’s Mobile inspection van then takes the inspection services to the customer’s doorstep. The company conducts inspection in a record time as the computerized inspection equipment is able to complete a single diagnostic testin one hour. A comprehensive vehicle inspection report is printed and given to the customer indicating the diagnostic tests, results and condition of the car. Xtreme Auto Inspectors operates on a unique business model that allows customers to get services outside the normal working hours. The business will be registered as a limited liability company. It’s envisaged that Xtreme Auto Inspection will breakeven and startmaking profits by the 8th month of operation. It’s projected that the business will make $80,000 in rev...
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