Understanding Target Markets

Assignment Content

Purpose of Assignment
The purpose of this assignment is to help students think through the importance of social, legal, and ethical issues that may arise with their product or service and the implications of decisions made within those frameworks. It is designed to help the learners understand ethical and legal issues related to marketing practices. This knowledge helps to prevent such issues when developing the marketing strategies in their marketing plan. The executive overview of the marketing plan is not a summary and conclusion, but an overview of what the plan entails and what it does not address.

Assignment Steps

Note: the Social, Ethical, and Legal Implications assignment is part of the total marketing plan as outlined in the grading guide. It is not a separate paper.

Resources: Marketing Plan and Outline

Producing and marketing a product without regard to ethical, legal, and social considerations is detrimental to the overall success of any company.

Assess in a maximum of 700 words the ethical, legal, and social issues affecting your product or service in two markets: the United States and one international market. Domestic market generally means the market where the company headquarters are located. If you choose a domestic market that is not the U.S., then your other market is required to be the U.S. marketplace. This will be added to the Target Market section of your Marketing Plan.

Include the following:

Develop a process to monitor and control marketing performance. This process could be a flowchart but a flowchart is not required (flowcharts do not count towards your word count requirement).

Formulate a maximum 350-word executive summary including at a minimum the following elements to include in your marketing plan:

Required executive summary elements:
Strategic Objectives
Products or Services
Optional executive summary elements:
Resources Needed
Projected Outcomes

Integrate the previous weeks’ sections, and incorporate corrections and suggestions from the instructor’s weekly feedback. The marketing plan should contain elements from each week of the course, including:

Understanding Target Markets (Week 2)
Promotion and the Product Life Cycle (Week 3)
Price and Channel Strategy (Week 4)
Marketing Communication and Brand Strategy (Week 5)
Executive Summary, Legal, Social and Ethical Considerations (Week 6)

Format your assignment according to APA guidelines.

Sample Solution

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