Homework answers / question archive / 2-3 page single-spaced paper containing the following: Describe the value your business provides Identify your target market and discuss your brand Identify the Top 3 competitors and how your business compares to each

2-3 page single-spaced paper containing the following: Describe the value your business provides Identify your target market and discuss your brand Identify the Top 3 competitors and how your business compares to each

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2-3 page single-spaced paper containing the following: Describe the value your business provides Identify your target market and discuss your brand Identify the Top 3 competitors and how your business compares to each. Outline your marketing strategy (how will you reach your target market). Address each of the "4 P's" of marketing in your paper in relationship to your business/product/service. my Business idea choice is a trading app called A-Trade. i will provide a sample and rubric for it. also provide and add refrences. thanks

Name: Marketing Analysis Rubric Description: This rubric will be utilized in grading Marketing Analysis submissions Does not meet criteria Meets criteria Exceptional Addresses each of the 4Ps clearly: Product, Place, Promotion and Pricing using PICK Analysis Points: 30 (24%) Student does not complete 4P analysis, failing to address each of the 4Ps using PICK analysis. Points: 45 (36%) Student addresses some components of the 4Ps, but does not show a clear understanding of the distinctions between each element using PICK analysis. Points: 60 (48%) Student addresses all components of the 4P analysis demonstrating a clear understanding of the distinctions between each element and demonstrates a clear understanding of learning concepts from the course using PICK analysis. Product section addresses target market and Identifies specific top 3 competitors by name and differentiates business from each competitor identified Points: 5 (4%) Student does not address the target market for the product/service demonstrating an understanding of the specific market and demand for the product/service and fails to identify top 3 competitors by name, differentiating from each. Points: 15 (12%) Student addresses either the target market for the product/service demonstrating an understanding of the specific market and demand for the product/service or fails to identify top 3 competitors by name, differentiating from each, or does not demonstrate an understanding of the learning concepts. Points: 25 (20%) Student addresses the target market, the top 3 competitors, and differentiators effectively demonstrating a clear understanding demonstrates a clear understanding of learning concepts from the course. Paper free of grammatical errors/typos Points: 0 (0%) There are multiple typos, formatting, and/or grammar issues in paper. Points: 3 (2.4%) There are minor typos, formatting, and/or grammar issues in paper. Points: 5 (4%) There are not typos, formatting, nor grammar issues in paper. Paper is organized and has clarity Points: 0 (0%) Student presents information in a Points: 5 (4%) The paper is somewhat clear and concise, but Points: 10 (8%) The paper is clear and concise consistently Does not meet criteria Meets criteria Exceptional disorganized and unclear manner, making it difficult to interpret the information put forth. not consistently throughout the paper. throughout its entirety, and is well organized. Meets page requirements (2 full pages, no more than 3) using single spacing, 1”margins and 12 point font Points: 0 (0%) There are less than 2 single spaced substantive pages submitted. Points: 5 (4%) At least 2 and no more than 3 substantive pages submitted. However, pages lack substantive information sufficient to comprise the 2 page requirement (e.g., large pictures, graphs,spacing quotes take up too much space). Points: 10 (8%) At least 2 and no more than 3 substantive pages submitted. Uses research and data to support claims as necessary, which are cited with footnotes throughout Points: 0 (0%) Works cited are not included. (At least the textbook should be cited and at least one outside sources such as U.S. Census Bureau's site and competitor site information). Points: 10 (8%) Works cited are included but are not clearly noted in footnotes as required. Sources may be unreliable or fail to support the claims made. Points: 15 (12%) Works cited are included and are clearly noted using footnotes as required. Data is used consistently to support claims with reliable sources. Submitted timely via Blackboard in .doc or .docx format Points: 0 (0%) Not submitted in correct format. Points: 0 (0%) Per the syllabus, there may be up to a 20% grade reduction per day for late submissions. Points: 0 (0%) Submitted before required deadline and in proper format. Introduction Do you ever find yourself in a new place, say on vacation, wondering what restaurant, club, or family spot is the most popular? “Look No Further” is the perfect app for you! You have the choice of putting in your location or having location services find where you are. Once the app finds where you are, you can search for top rated amusements/attractions near you and you can read the reviews about that place. There are reviews from both tourists and locals. This app has everything you need to have a good time no matter where you go! From Miami to L.A, we can help you find something fun for you to do while in a new, exciting place. Product Our textbook defines a product as “a bundle of physical, service, and symbolic characteristics designed to satisfy customer wants” (Boone and Kurtz, 388). Look No Further was created to take the hassle out of travel. With a simple, user-friendly interface, our app allows travelers go where there want, and when they want to. The app has two essential features: (1) the “in-app” experience, where users can select from a wide variety of attractions in which they can see the attractions nearest to them, along with detailed information and reviews provided by both other travelers and locals, and (2) the “notification setting”, which, with the user’s consent, notifies the traveler of nearby attractions as they drive by them. What makes this feature so dynamic is that the user is given the choice as to whether they would like to be notified or not, and if in fact they do opt to receive notifications, they will then be given the opportunity to setup a filter for which types of attractions and the price range for which they would like to be notified for. Target market is defined in our textbook as a “group of people toward whom an organization markets its goods, services, or ideas with a strategy designed to satisfy their specific needs and preferences” (Boone and Kurtz, 361). Our target market is comprised of people who (a) travel frequently and (b) are between the ages of 18 and 34. The types of people who travel frequently can be split into two groups: (1) those that travel for leisure and (2) those that travel for business related activities. Our app is designed to cater toward both of these groups. The demographic of people between 18 and 34 was chosen due to the fact that data shown on Nielsen.com shows that those age groups spend the largest amount of time using their apps per month (between 35 and 37 hours!). Segmenting our market based on people who travel frequently and their age represents both psychographic (some people may simply live a lifestyle in which they travel regularly) and demographic (age is relevant to those who are most likely to purchase an app, occupation and income play roles in determining who would travel often) segmentation, as described in the textbook (368 and 371) There are plenty of travel associated apps in the market but we have identified our top three competitors as: Tripit Travel Organizer, TripAdvisor Hotels Flights and TouristEye Travel Guide. The advantage that our product has over TripIt is that although it creates an itinerary for travelers, it requires users to email all travel-related confirmation e-mails to the app company in order to receive a personalized itinerary. The problem is, many people don’t have the time and foresight to arrange such a vacation. Our app allows users to find their favorite places on the go and on the fly. TripAdvisor can be incredibly overwhelming as it not only provides information about nearby attractions; it also offers booking for hotels, restaurants, and flights. Our app simply shows the specific types of attractions that the user is interested in and nothing more. Additionally, our app offers notifications as the user draws closer to their preferred locations, a feature that TripAdvisor does not. For this reason, TouristEye may be our fiercest competitor as it offers a “nearby feature”, similar to our notifications feature. However, TouristEye provides service to a very limited number of cities in the United States, which pales in comparison to the number of U.S cities that Look No Further offers service to. Place In making this app we had to think of a good market for it, because like always place is very important when it comes to target market. This is why we chose the Google Play Store along with the iPhone App Store. These are the two most diverse and commonly used app stores. In fact, data provided by Statista.com shows that the Google Play Store and Apple App Store account for a whopping 82% of download volume in the mobile application markets. These two stores are ideal for placing our idea because we are able to have a set price, be able to view other competitors, and reach out to our target age group. In putting our idea in the app store we are also able to show previews of how it works and are able to control updates for the idea. Promotion will also be easier with this type of retailing because promoting an app is a lot easier than an actual product. For example, we can use social media, word of mouth, travel agencies, and car rental agencies, etc. Promotion The number of marketing tools that we plan to implement will not only to inform our target market as to what our app does, it will also convince all potential buyers to purchase our product over the competition. This is precisely what the textbook defines promotion as: “the function of informing, persuading, and influencing a purchase decision” (Boone and Kurtz, 428). Since our app is in the introductory stage, we felt informative advertising would be the most rational approach for “getting our name out”. We will have informative advertisements on all types of media related to travel: T.V commercials on The Travel Channel, ads before videos on travel-related YouTube channels (like Sonia's travels and Travel Yourself), signs in airports and travel agencies, and banner ads on travel websites like Trivago, Hotwire, and Expedia, just to name a few. As we explained earlier, since our product is a smartphone app and therefore more likely to be used by a younger age group, we felt all of these media outlets would be appropriate for advertisements our product. Additionally, we will have a Facebook page, Twitter account, and Instagram feed designed to promote our product. However, advertising is only half the story. We also plan on promoting our product through various sales promotions. Our app will be sampled by offering a 30 day free trial to all customers- even if they didn't have to buy the app for this trip, we're confident they'll tell their friends about it and come back to purchase it for next time. Additionally, during the weeks leading up to high volume travel seasons we will offer promo codes to purchase the app at a 25 percent discount. Pricing We decided to determine our price by looking at how much other app developers charge for a similar product. As a business we agreed on the price of 99 cents. The pricing strategy that we used to set the price for this app would be considered competitive pricing. Competitive pricing is defined as a “strategy that tries to reduce the emphasis on price competition by matching other firms’ prices and concentrating their own marketing efforts on the product, distribution and promotional elements of the marketing mix” (455). Since the apps most similar to ours charge 99 cents, we decided to match our price with theirs. However, we found that there are some competing travel apps that actually charge more than 99 cents. We did not consider setting our price at a higher amount because we realized that the apps that cost more offer additional features, like trip calculators or flight-booking capabilities, which our app does not. Additionally, the price of 99 cents that both we and our main competitors charge for our app services would be considered using an “odd price”. Odd pricing is a “pricing method using uneven amounts, which appear less than they really are to consumers” (456). By charging 99 cents instead of a dollar, consumers are more likely to purchase the app. Conclusion Knowing that there is now an app out there to ensure your traveling experience is one to remember is reassuring right? Receiving a notification when you drive by a place that the app might think you would be interested in will allow you to squeeze every ounce of fun from your vacation. Now you don’t have to look like a typical tourist asking random people where the best restaurant in town is. “Look No Further” allows you to spend your time enjoying the attractions, not waste it looking further than you need. Works Cited 1. Boone, Louis E., and David L. Kurtz. Contemporary Business. United Kingdom: John Wiley & Sons, 2011. Print. 2. "Newswire." Smartphones: So Many Apps, So Much Time. Nielsen, 1 July 2014. Web. 07 Apr. 2015. 3. "App Stores: Download Market Share Worldwide 2012 | Statistic."Statista. The Statistics Portal, n.d. Web. 08 Apr. 2015.