Target Market Analysis: Understanding the target market in detail, way beyond demographics and statistics, is the foundation of a successful business plan. Before a marketing plan or an operational plan can be effectively developed, the preferences, requirements, behaviors, and decision making processes of the target market must be determined. These attributes should be presented through the creation of a marketing persona as explained in class. There is typically only one persona. That persona is not meant to represent every potential buyer in the target market but rather is representative of the typical buyer within the target market. This persona should be described in such detail that the reader can believe it is a real person. The persona should be used throughout the remainder of the project in all sections. All decisions should revolve around this individual. If your target market is B2B, your persona represents the typical buyer in the type of business you are targeting. You need to understand their priorities, requirements, decision making process and personal life as well. In addition to the persona creation and analysis, some demographic and statistical information should be presented regarding the size of the target market and any other relevant information. The persona is typically a large section while the target market analysis is much smaller. Frequent Problems/Areas of Improvement: The way information is presented is just as important as the information itself. The presentation builds the credibility of the author and subsequently the analysis. A professional tone must be maintained. Business writing is concise but detailed. Do not write a report; this is an analysis. Do not provide extraneous explanations or definitions. Refer to Business Communications material (pre-requisite to I-Core) for additional guidance. Keep your reader in mind. Don’t jump from point to point or just start with a chart or information. Short introductory or connecting paragraphs are a necessity. Use lecture notes! Information is given in class specifically to aid in the development of your project. Do not confuse strategic decisions with SWOT components. Your works cited page(s) from your environmental trends list should be included as part of the trends appendix. Lack of detail in the formation of the persona will have a significant detrimental impact on the grade of this deliverable and future deliverables.
Target Market Analysis: Understanding the target market in detail, way beyond demographics and statistics, is the foundation of a successful business plan. Before a marketing plan or an operational plan can be effectively developed, the preferences, requirements, behaviors, and decision making processes of the target market must be determined. These attributes should be presented through the creation of a marketing persona as explained in class. There is typically only one persona. That persona is not meant to represent every potential buyer in the target market but rather is representative of the typical buyer within the target market. This persona should be described in such detail that the reader can believe it is a real person. The persona should be used throughout the remainder of the project in all sections. All decisions should revolve around this individual. If your target market is B2B, your persona represents the typical buyer in the type of business you are targeting. You need to understand their priorities, requirements, decision making process and personal life as well. In addition to the persona creation and analysis, some demographic and statistical information should be presented regarding the size of the target market and any other relevant information. The persona is typically a large section while the target market analysis is much smaller. Frequent Problems/Areas of Improvement: The way information is presented is just as important as the information itself. The presentation builds the credibility of the author and subsequently the analysis. A professional tone must be maintained. Business writing is concise but detailed. Do not write a report; this is an analysis. Do not provide extraneous explanations or definitions. Refer to Business Communications material (pre-requisite to I-Core) for additional guidance. Keep your reader in mind. Don’t jump from point to point or just start with a chart or information. Short introductory or connecting paragraphs are a necessity. Use lecture notes! Information is given in class specifically to aid in the development of your project. Do not confuse strategic decisions with SWOT components. Your works cited page(s) from your environmental trends list should be included as part of the trends appendix. Lack of detail in the formation of the persona will have a significant detrimental impact on the grade of this deliverable and future deliverables.
Del1-KDandJF.docx