Good Essay On Marketing Reflection Paper

Marketing is an important part of any business process . Just like the process of putting up a business, the people who will be involved in the marketing processes must also start with a plan. The objective of this paper is to discuss the different factors that have been considered in drafting the marketing proposal.
The target market that has been chosen for the project are individuals aged twenty and above who have the necessary buying power to avail of the products and services being offered by the company. The target market has been chosen based on the following criteria: buying power, possibility of employment and other sources of income, and possibility of having direct utilization of the product and or service being offered. Basically, people who are aged twenty and above are ones who most likely have jobs already; people who have jobs would most likely have the buying power to avail of the products and or services being offered and introduced by the company . And then lastly, this market has been chosen as the target because they are the ones who would most likely have to use or avail of the products and services being offered by the company.
It is important to consider the effects of the overall cost of the product on the profitability of each backpack unit . The rule of thumb when it comes to these factors suggests that the lower the overall cost per product unit, the higher the profitability is. Now, there are two ways how the profit can be increased per product. The company can either retain the original overall cost in an effort to retain the quality and just increase the selling price per unit; or it can retain the selling price to attract more customers —a good marketing strategy in a highly competitive environment and just focus on reducing the overall cost per unit of product.
The pricing strategy would also be dependent on the volume and profit goals . The goal in this case is to be able to produce and sell products at a higher volumes so that overall costs can be reduced, which according to our assessment on the effects of overall cost on the product profitability on a per unit basis, would lead to improved overall profitability . Therefore, in order to retain the competitively low price of the products, if not lower it significantly, there must be a stable but preferably a continuously increasing volume of products being produced, sold, and shipped to the buyers and or consumers.
The current marketing environment in which we are trying to sell our products is a highly competitive one. For instance, there are numerous low-cost product distributors and several highly-branded although high-cost product distributors (of the same product we are distributing). These are so far the marketing environment issues that we think we have to address and act upon if we are to succeed.
There can be many reasons why buyers from other customer segments purchase our backpack products even though they were not included in the target market segment. This is called segment crossover. This may occur if the product being marketed is a versatile product. For example, there are products that are targeted to be sold to males because of its designs but because of shifting marketing tastes, preferences, and expectations, the same product may soon be liked by females. The same principle can in fact be applied to other marketing segment filters such as age, cultural background, and even price.

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