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Introduction: The Assignment in this unit is to complete a component of a Brand Extension Marketing Plan for one new product on the behalf of an existing for-profit organization. Using the Marketing Plan Guide found in Course Documents, complete and submit the following components of your Marketing Plan.
Unit 2: Identifying and Assessing Marketing Opportunities
2.0 SITUATION ANALYSIS
Write a 1-paragraph summary of the current situation – write this section after completing the following sections of the Situation Analysis, but put it in this order.
2.1 Market Summary
(Write this section after completing 2.1.1, 2.1.2, 2.1.3, 2.1.4, and 2.2) In a 1–2 paragraph summary, address:
What are your target customer groups? Why?
What are your projections for the growth of this market?
2.1.1 Market Demographics (refer to Chapter 8 of your Kotler text for helpful definitions/explanations).
Carefully define the demographic profile of your target market.
In a similar fashion, define the geographic target area you are choosing.
What are the behavior factors that will influence your decision-making?
Define the values and lifestyles (psychographics) of your target market.
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