To define: Meaning of marketing plan and difference between marketing plan and business plan.
Introduction: Marketing plan means the outline of objective and strategy that will define the
Answer to Problem 1QA
Marketing plan means outline of the marketing environment through which product will go on. Marketing plan is made for the process the product will be sold and business plan is made like how the product will reach to its final consumers.
Explanation of Solution
Given information:
Meaning of marketing plan and difference between marketing plan and business plan.
Marketing plan means the outline of objective and strategy that will define the marketing environment. Marketing plan is made when the product is ready to be sold in market, the way it will be presented to consumers, etc.
Marketing plan works on particular way to sell the product but business plan works on whole process from selecting raw material till it reaches final consumers. Business plan is made to outline the whole journey of a particular product or services.
Want to see more full solutions like this?
Chapter 3 Solutions
EP MARKETING:REAL PEOPLE...MYMKTG.ACC.
- Nivea is the product I use most frequently. Nivea's primary market segment consists of young adults (18–35 years old) of both sexes. The company focuses on the middle class with an emphasis on affordability, but it also expands to a more family-oriented audience by offering products that cater to various age groups and gender-specific needs. In their marketing campaigns, Nivea frequently emphasizes themes of family, care, and trust. Repeat Customers: Nivea aims to attract customers who regularly buy skincare products or who are already brand loyal. To promote recurring business, the brand frequently provides loyalty benefits or subscription services. Young adults (18–35) of both sexes, especially those interested in skincare issues like acne, sun protection, and anti-aging, as well as men seeking specialized grooming products, are likely to be Nivea's most promising target segments for growth and profit. This is because this demographic is very interested in personal care, frequently…arrow_forwardNivea is the product I use most frequently. Nivea's primary market segment consists of young adults (18–35 years old) of both sexes. The company focuses on the middle class with an emphasis on affordability, but it also expands to a more family-oriented audience by offering products that cater to various age groups and gender-specific needs. In their marketing campaigns, Nivea frequently emphasizes themes of family, care, and trust. Repeat Customers: Nivea aims to attract customers who regularly buy skincare products or who are already brand loyal. To promote recurring business, the brand frequently provides loyalty benefits or subscription services. Young adults (18–35) of both sexes, especially those interested in skincare issues like acne, sun protection, and anti-aging, as well as men seeking specialized grooming products, are likely to be Nivea's most promising target segments for growth and profit. This is because this demographic is very interested in personal care, frequently…arrow_forwardIn the Hair weave business, Which customer market segments (groups) are being targeted? How does the marketing of the product target customers based on their behaviors? Which groups of targeted segments do you believe offer the most capacity for growth and profit and why? What competition is the hair weave business facing in these most valuable segments?arrow_forward
- In the Hair weave business, Which customer market segments (groups) are being targeted? How does the marketing of the product target customers based on their behaviors? Which groups of targeted segments do you believe offer the most capacity for growth and profit and why? What competition is the hair weave business facing in these most valuable segments?arrow_forwardIn the Hair salon business, Which customer market segments (groups) are being targeted? How does the marketing of the service target customers based on their behaviors? Which groups of targeted segments do you believe offer the most capacity for growth and profit and why? What competition is the hair salon facing in these most valuable segments?arrow_forwardHow helpful did you find using ChatGPT to conduct the stakeholder analysis? How would you verify and modify the results generated by ChatGPT before presenting the information to the organization?arrow_forward
- Transportation is considered a facilitator of trade as it can either make trade feasible or infeasible. Transportation infrastructure is crucial to the efficiency of transportation and ultimately, international trade. After conducting research on infrastructure investments in Canada, choose one infrastructure investment that has not been chosen already by a fellow candidate and describe the scope of the project and its objectives. Be sure to explain how your project helps facilitate trade with which specific regions and how it contributes to efficient supply chains. answer this question based on Objectives of the Ontario-Québec Continental Gateway and Trade Corridor (CGTCQO) Projectarrow_forwardNnn̈mmkkkjnhbbarrow_forwardTransportation is considered a facilitator of trade as it can either make trade feasible or infeasible. Transportation infrastructure is crucial to the efficiency of transportation and ultimately, international trade. After conducting research on infrastructure investments in Canada, choose one infrastructure investment that has not been chosen already by a fellow candidate and describe the scope of the project and its objectives. Be sure to explain how your project helps facilitate trade with which specific regions and how it contributes to efficient supply chains. answer only the Objectives of Project part. the answer will be based on the Trans Mountain Expansion Project, which is an infrastructure development initiative.The objectives of the project will focus on the Trans Mountain Expansion Project as an infrastructure initiative.arrow_forward
- What are the possible descriptive analysis in average sale per transaction chart?arrow_forwardWhat are the possible descriptive analysis in average sale per transaction chart?arrow_forwardRelationship marketing and customer loyalty. How can this be applied in a real-world, professional context?arrow_forward
- Foundations of Business (MindTap Course List)MarketingISBN:9781337386920Author:William M. Pride, Robert J. Hughes, Jack R. KapoorPublisher:Cengage LearningFoundations of Business - Standalone book (MindTa...MarketingISBN:9781285193946Author:William M. Pride, Robert J. Hughes, Jack R. KapoorPublisher:Cengage Learning
- Management, Loose-Leaf VersionManagementISBN:9781305969308Author:Richard L. DaftPublisher:South-Western College PubContemporary MarketingMarketingISBN:9780357033777Author:Louis E. Boone, David L. KurtzPublisher:Cengage LearningMarketingMarketingISBN:9780357033791Author:Pride, William MPublisher:South Western Educational Publishing