1. Defining the problem - It contains comprehensive details of the problem/s;

• Prepare to enter a new market or
• Launch a new product/service or
• Start a new business

2. Research the state of the industry

- Client’s status in the current market

• Information is thoroughly and clearly reported, including such things as the type of product/ service, current marketing efforts, current knowledge about customers and competitors, etc.

- Industry trends

• Describes how major trends and information helped identify immediate opportunities.

3. Target Market

• Target Market Clearly identified by demographics and product/service meets needs/wants of target group.
• Buyer Profile and Behavior Describes in-depth the buyer in the customer profiles buying roles, buying behavior, and buyer decision making process.
• Primary Research results (survey or questionnaire) Excellent plan for collection of data justified with many facts from current business environment.

4. Market Analysis

• Competition’s SWOT analysis A thorough SWOT analysis is provided, and reasoning for each item in the SWOT is provided and logical.

5. Analysis and interpreting data

• Quality of data collected Varieties of secondary data and references used
• Evaluation of data and evidence of critical and analytical thinking

6. Marketing decision and strategies

• Includes the marketing decision or strategies and explains why/how these could be done

Answer rating: 100% (QA)

Introduction Defining the issue The biggest issue with aromatic candles is that they are considered a luxury item hence they are more expensive than c... View the full answer