You're ready to dig deeper into the planning process

Subject:MarketingPrice: Bought3

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You're ready to dig deeper into the planning process. In this assignment, you'll consider how to gather information to answer specific marketing questions, such as what customers expect from a product such as yours and how they view competing products. You'll also take a magnifying glass to your market(s) and determine who to target and why, decisions to be documented in your marketing plan. 1. Review your answers to Question #1 in the first assignment. How much do you actually know about your customers' needs, wants, preferences, attitudes, and buying patterns? If you had an unlimited marketing research budget, what three questions would you want to answer to gain a better understanding of customers and their needs? For example, you might want to know when, specifically, customers have a need for a product like yours—which occasions, situations, or problems trigger this need. The answer could help you position your product as the solution to a problem or help you plan promotional messages for certain occasions. List your questions here and next to each, note how you would use the answer to develop a more effective marketing plan.