Question

Marketing Plan Analysis and Presentation: Part 2 – Research Template

Directions: Using the company and research sources from the Topic 2 assignment as a starting point, conduct additional research to acquire information related to consumer behavior, product or service, and price associated with the company you selected. In the “Research Summary” section, discuss how the company could use these types of research findings to develop a marketing plan in order to meet the company marketing objectives and business needs.

The Company you are to be researching is CenterPoint Energy

Information to be Researched	Research Findings	Resource Citation Information
Describe the customer segments and target markets.
Describe characteristics of the target markets that will affect product/service and pricing decisions.
Describe how the company differentiates its product and positions its brand.
Describe a consumer buying behavior model for this company and brand.
Describe the product mix.
Describe the product lines.
Describe the service processes.
Discuss physical evidence of service, service scape, and ambiance.
Discuss the roles of company employees in service delivery.
Define the company’s pricing objectives and discuss whether the objectives are profit- or sales-oriented.
Provide an example of current company pricing strategies.
Describe pricing tactics (discounts, etc.) that are used to drive short-term demand

Research Summary: In 250 words, discuss how the company could use these types of research findings to develop a marketing plan in order to meet the company's marketing objectives and business needs.

Answer 1

Information to be Researched	Research Findings	Resource Citation Information
Describe the customer segments and target markets.	Behavioral approaches, psychographic approaches, demographic approaches, and geographic approaches. The company reaches out to the poor and middle-class income earners in the society who are interested in meeting their daily needs	Admin. (2017, August 23). UniqueWritersBay Blog. Retrieved October 11, 2019, from uniquewritersbay.
Describe characteristics of the target markets that will affect product/service and pricing decisions.	Among the several factors that affect the pricing decisions, the 4Ps which include Place, Price, Promotion and Product are very important. Depending on the needs of the customers the strategies tend to change	Walmart Marketing Mix - Understand Walmart's Marketing Strategy. (n.d.). Retrieved October 11, 2019, from corporatefinanceinstitute.
Describe how the company differentiates its product and positions its brand.	1. Everyday Low Price (EDLP) 2. Market-oriented pricing strategy 3. Flat-rate (fixed-rate) subscription pricing strategy	Ferguson, E. (2019, July 17). Walmart Inc.'s Marketing Mix (4Ps) Analysis & Recommendations. Retrieved from panmore.
Describe a consumer buying behavior model for this company and brand.	1. Brand Aspirationals – People with low incomes who are inclined on brand names; 2. Price-Sensitive Affluents – Wealthier shoppers section who love deals 3. Value-Price Shoppers – Those with like low prices who can’t afford much more.	Wal-Mart Classifies Customers for Growth. (n.d.). Retrieved October 10, 2019, from retailwire.
Describe the product mix.	· Electronics and Appliances · Home and Furniture products · Clothes · Baby and Toddler · Toys and Video Games · Auto and Tires etc	Heartofcodes. (2018, October 2). Marketing Mix of Walmart: 4Ps of Marketing Mix of Walmart. Retrieved from heartofcodes.
Describe the product lines.	Product lines are a subset of the product mix and include a wide range of products including wearables, computers etc.	Heartofcodes. (2018, October 2). Marketing Mix of Walmart: 4Ps of Marketing Mix of Walmart. Retrieved from heartofcodes.
Describe the service processes.	Virtual reality, automated assistants and convenient handheld apps all showed up in Walmart stores across the country to deliver on a promise: Make shopping and working at Walmart easier for customers and associates alike.	Top Ways Walmart is Changing How Customers Shop. (n.d.). Retrieved from corporate-walmart.
Discuss physical evidence of service, service scape, and ambiance.	Customers is at the forefront of the service and they are the prime target and enhancing their experience is the major focus	McMillon, D. (2017, January 9). 3 Predictions for the Future of Retail – from the CEO of Walmart. Retrieved from corporate-walmart.
Discuss the roles of company employees in service delivery.	As retail changes, and Walmart changes with it, employees can drive strong, efficient growth by continuing to operate with discipline.	McMillon, D. (2016, October 6). How Walmart is Transforming to Better Serve Customers. Retrieved October 12, 2019, from corporate-walmart.
Define the company’s pricing objectives and discuss whether the objectives are profit- or sales-oriented.	The company’s pricing strategies are aimed at maximizing sales while being profit oriented at the same time. The everyday low price strategy is aimed at increasing the volume of sales and at the same time, by reducing the costs associated with sourcing, advertising and other costs, they remain profitable	Gaffney, C. (2019, February 11). Definition of Profit-Oriented Price Strategy. Retrieved October 12, 2019, from bizfluent.
Provide an example of current company pricing strategies.	The company continues its pricing strategy of being lower than competition by following its Everyday Low Prices (EDLP) strategy.	Ferguson, E. (2019, July 17). Walmart Inc.'s Marketing Mix (4Ps) Analysis & Recommendations. Retrieved from panmore.
Describe pricing tactics (discounts, etc.) that are used to drive short-term demand	The short term demand strategies include reducing prices during special events, holiday season apart from the everyday low pricing strategy	McMillon, D. (2016, October 6). How Walmart is Transforming to Better Serve Customers. Retrieved October 12, 2019, from corporate-walmart.

Research Summary:

In order to increase revenue and benefit Walmart is a global retailer that uses a range of marketing techniques to make effective use of data analyzes and market analysis. The marketing mix and the approach to attract consumers among the different approaches it uses are of vital importance and are a major component in its selling strategy. A variety of strategies are employed in identifying and segmenting consumer goals, including, behavioral, psychographic, demographic and regional strategies. As regards the demographic approach, Wal-Mart often uses gender, age, ethnicity and stage of the family life cycle to select its target audience. Aging is one of the most widely used demographic indicators for calculating the size of target audience and consumer segments by businesses. Wal-Mart also uses sex to classify the markets for its goods that are better suited. In general, the willingness of individuals to buy products and services and their buying behavior changes at any point of growth. This directly affects the revenue of a product. The difference in the makeup and scale of households is often correlated with customers' purchasing behaviour. Various ethnic groups have specific tastes and expectations that decide the quality and quantity of goods of a business that they can buy.

Generally, the objective market of Wal-Mart is simply a set of people: men, women and youth who want the money aside. Such customers are present in every geographical region in which the stores of the company are present. Those consumers make a big effort to gain salaries for the purchase of Wal-Mart products at relatively low prices. The premium goods sold by Wal-Mart are pleased to these customers. The persevering consumers in center and class are thankful to Wal Mart's stores in many countries all over the world for their goods of high quality. Customers who need the products, food, car parts and cleaners in the family unit set time and cash aside by trying to get it from the Wal-Mart stores. By adopting those approaches, this approach to drive sales and optimize profits allows Walmart to drive sales and optimize profits.

****Please please please LIKE THIS ANSWER, so that I can get a small benefit, Please****