Marketing memo

Deliverable Length: 1–2 page memo (excluding cover and reference pages)

Description:

Michelle has asked you to send her a memo that explains the target market for MM’s new product. Because a global market is under consideration, she wants you and Elena to meet for an in depth discussion of the different characteristics of your target market before sending her the information.

Elena meets you for coffee the next morning to explain her reasons for advocating the global market. As you finish your discussion,

Elena stops and says,

“We’ve discussed a lot of different market segments to target with the new product, but the choice comes back to you,” says

Elena. “What’s your final decision on the target market that we should focus on? Are you going to propose that we try to market this product globally?

You sigh, knowing this is a key decision in your marketing strategy. “I appreciate our discussion today. I’m going to have to do some more research to determine the exact market and if we should go global or not.”

You know Michelle is expecting a detailed description of your targeted market segment including justification for selecting the market.

  • You also need to remember to include your recommendation for or against marketing globally.
  • What are the demographic characteristics of your target market and why are they important?
  • Where is your target market located geographically and why is that important?
  • What psychographic characteristics define your target market? How do these impact your marketing strategy?
  • What behavioral characteristics are shared by your target market? Why are these important?

 

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marketing memo

I need an explanation for this Marketing question to help me study.

Your memo should give a well reasoned argument about why you chose the specific country that you did. Consider:

  • country stability and risk
  • general economic conditions
  • cultural issues that may affect consumer behavior particularly with respect to food
  • the market size for ice cream and desserts
  • general market trends
  • market growth rate and potential opportunity.

For the country that you chose, complete a thorough market analysis, including:

  • Competitive Analysis
  • Target Market/Specific Customers
  • Barriers to Entry:

Your memo should be concise and to the point. Statements should be backed up by data and properly referenced.

Use charts and graphs when appropriate to illustrate data.

Rubric

Team Memo #1 (2)

Team Memo #1 (2)

Criteria Ratings Pts

This criterion is linked to a Learning OutcomeCountry comparisons

2.75 pts

Well done

2.4 pts

Competent

2.0 pts

Needs more detail

0.0 pts

Missing

2.75 pts

This criterion is linked to a Learning OutcomeCountry Selection

1.75 pts

Well done

1.4 pts

Competent

1.0 pts

Need more detail

0.0 pts

Missing

1.75 pts

This criterion is linked to a Learning OutcomeGrammar, typos, format

0.5 pts

Well done

0.4 pts

Competent

0.2 pts

Needs editing

0.0 pts

Novice

0.5 pts

Total Points: 5.0