Developing a Marketing Plan Assignment Example | Topics and Well Written Essays - 1250 words

Developing a Marketing Plan - Assignment Example Devising a course of action that can give a detailed description of a product proposed by a firm may be a complex matter since the plan has to incorporate market segments, have a clearly defined data that is relevant to the identified market, and compose of an implementation plan (Steinberg, 2011:5). The task of this is to plan and describe a research programme to identify attractive market segments relevant to a product that I will propose and estimate the size of the relevant to it. After analysing a number of factors such as category involvement, product preference motivators, product purchasing patterns and media habits, this research paper resolved to propose consumer electronics as the product of choice. By use of market planning tools that include market segmentation indicators such as psychographics and psychographics, the identified plan described this market as suitable for selling consumer electronics (Steinberg, 2011:8). This is because, upon dividing the estimated total population of the market into subsets using demographic indicators, research identified a variety of market segments that include light, heavy, and medium consumers of consumer electronics (Miller, 2010:6). ... The plan also identified who belong to the same age pattern but exhibit more streams of concurrent customers (Alcock, 2003:7). As such, by use of a computer assisted personal interviewing (CAPI), this research essay managed to produce the following data. There are older men and women who consume the proposed product excessively; there are people who look like concurrent customers, people who would not use the product, while there are others who would buy the product upon spotting it on the market (Steinberg, 2011:11). Additionally, when the research changed its planning methodology and used face-to-face interviews, it established that 10 percent of the overall population aged between 18 and 49 would buy the product if it had promoting incentives (Miller, 2010:9-10). On the other end, 9 percent of the market population, just as illustrated by the demographic measures, would buy the product if satisfied their needs in terms of quality and durability. Using the same methodology of data collection, this research paper found out that there are five different benefit segments and five diverse personality segments as well as six unique attitude segments (Steinberg, 2011:15). This data is relevant to the proposed product because, in this age and date, as far as marketing and sales goes, there is increased personalization whereby some people might even argue that the product offers some potential target markets that are equal or uniform to the identified population. Marketing mix After setting research results, the research team deployed polls about public beliefs whereby it found out that this market segment is democratic and people belief in preferences and media information (Kline, 2006:5). After that, recommended marketing

The experiment that Stanley Milgram conducted in the 1960s provided Essay

The experiment that Stanley Milgram conducted in the 1960s provided empirical evidence in favour of what is now referred to as t - Essay Example The results of the experiment have been proved by many other researchers in later studies, which explored the small-world effect in various types of networks. It has been verified that the small-world effect can be seen in different extent in a number of the real-world networks. The small-world phenomenon has made a great contribution in the theory of networks as it helped to better understand the structure and dynamics of the complex networks. This paper intends to discuss the Milgram's experiment and to explore in what extent the small-world effect can be found in three main classes of networks – random graphs, scale-free networks and small-world networks. Keywords: networks, social networks, small-world, six degree, random graph, scale-free networks. Introduction It is widely acknowledged that networks are all around people; and people themselves as socio-biological systems are, for the most part, products of biochemical reactions and social relationships occurring in netwo rks. Networks are studied since 1736, at first in the domain of mathematical graph theory (Biggs et al., 1986), which has been gradually developed into the solid branch of knowledge that studies nature and properties of different networks, from very simple to large and complex networks that have irregular structure and complex dynamics. Examples of such networks can be found everywhere in nature and in society – food networks of biological species, communication networks and the Internet, social networks between individuals, transportation networks, metabolic and neural networks, and many others. Nowadays the study of networks got significant achievements in understanding of specific features, some of which have been investigated in depth only in the past few decades, with the advent of information and communications technologies and, particularly, the Internet. One of the fundamental features of networks was discovered in 1967, when a famous social psychologist Stanley Milgr am conducted a series of experiments, revealing that in spite of the enormous number of the global population, our world is actually rather small - any individual on the planet can reach any other individual through about six contacts in their social network. The phenomenon was called the small-world effect, while the modern popular scientific literature often mentions it as the â€Å"six degrees of separation† effect (Watts, 1999). The results of the Milgram’s experiments have been proved in a large number of experiments of other researchers. The phenomenon appears to be extremely useful for understanding the structure and dynamics of processes that takes place in different networks, for example the dynamics of spread of information across the network, or the dynamics of diffusions of epidemic diseases in a society. The small-world effect can be viewed in different networks; however, each of these networks has the distinctive characteristics, related to its structure and dynamics, so there are certain differences in the manifestations of the small-world effect in various networks. This essay intends to discuss the Milgram's experiment and to explore in what extent the small-world effect can be found in networks, namely, in three main kinds of networks – in classical random graphs; in scale-free networks, introduced by Barabasi and Albert (1999); and in small-world networks, invented by Watts and Strogatz (1998). The paper is aimed to show