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ENTREPRENEURSHIP MARKETING Entrepreneurship Marketing LaQuenta

I have an assignment I need help with. I've completed majority of the assignment. I just have a few sections I need help with. Please see assignment instructions below:

Marketing plays an essential role in managing and growing a firm. To gain an in-depth perspective on marketing as it relates to entrepreneurship. Write a 1,400- to 1,750-word paper addressing marketing and branding a heath care related product or service. Select an existing health care related product or service and include the following in your paper:

  • Target Market
    • What is a target market? (completed)
    • What is the target market of the product or service selected?
    • What is the importance of selecting a target market? (completed)
    • What issues and questions must be considered when selecting and managing a target market? (completed)
  • Branding
    • What is a brand? (completed)
    • Why is branding important? (completed)
    • After selecting a current, common health care brand, address the following:
      • What images or thoughts do you relate to that brand?

***Cite a minimum of four scholarly sources.

Word count is currently @ 805. I need 600 words to meet minimum word count.

Thank you so much!!! :-)



LaQuenta Reynolds


HCS/567 Entrepreneurship in Health Care


October 10, 2016


Professor Jackie Lucas 1 LEARNING TEAM: WEEKLY REFLECTION 2 Entrepreneurship Marketing


Branding and Marketing plays an essential role in managing and growing a firm. To gain


an in-depth perspective on marketing as it relates to entrepreneurship, it is imperative to


effectively marketing and brand a product and or service (UOP, 2016). Entrepreneurial marketing


is best described and defined by the types of companies that use it. Entrepreneurial marketing is


not just a simple nor single marketing strategy, but more so a marketing morale that differentiates


itself from conventional marketing strategies. The most common factors of entrepreneurial


marketing include innovation, being proactive, and risk taking.


The intent of this paper is for the author to explain target marketing, the importance of


selecting a target market, and some issues and questions that must be considered when selecting


and managing a target market. Additionally, the author will explain branding and its significance


in marketing. Last, the author will share her images or thoughts related to that brand; whether or


not the branding appeals to the market, and if those images influence consumers? decisions to


buy or use that brand; whether or not the product is successful; the profitability of the product


and the effect on the bottom line; and whether or not, if this were her product or service, what


she might have done differently (UOP, 2016).


What is a Target Market?


The number of market segments is a myriad: divided and or separated by location,


demographic, region, education, age, gender, and so on. A business target market is the specific


group of people to whom they are trying to sell/solicit their services or products to. Both LEARNING TEAM: WEEKLY REFLECTION 3 businesses and a marketing specialist most understand their market to help determine their


potential consumer/customer base.




Target Market


Importance of Selecting a Target Market


When organizations define their potential consume/customer base it helps them identify


and or expose whether or not there will be enough to sustain business. Organizations can do this


by modifying their business plan and focus services and products on consumers/customers' needs


and wants. Additionally, businesses can target their marketing efforts to identify and or connect


with both their loyal and most promising prospects and craft their marketing messages


accordingly and or more appropriately.


The three most important factors to consider prior to selecting a target market include


examining and understanding your product, conducting a market evaluation, and company


evaluation and capabilities. Before a business select their target market, it is important to know


their service or product and what it offers. Market segments should also be evaluated according


to how they align with the company?s goals and objectives, capabilities, and resources. To


remain competitive and to be successful, companies need a distribution channel that connects


with their target audience and have enough funding to launch, distribute, and market their service


or product to target audience. Businesses should select a market segment that complements their


company image, so they can connect/identify with the buyer. LEARNING TEAM: WEEKLY REFLECTION 4 Issues and Questions to be Considered When Selecting and Managing a Target Market


Targeting a market is being able to identify a business? potential and or primary


customers. To effectively manage a target market there are several issues and questions a


company should consider and ask when selecting a target audience, such as: Who would pay for


their service or product? Who are their existing customers? Are they overestimating their reach?


What is their revenue model? How will they market, promote and sell the service or product?


How will they find customers? Is there room to expand their target market? According to, 2010, issues to consider in a target market selection include evaluating: Market size


Growth rate


Competitors in segment


Brand loyalty of existing customers in the segment


Required market share to breakeven


Revenue/Sales potential


Expected profit margins


When selecting and managing a target market, there are several different target market strategies that could be implemented, such as Single-segment, Selective Specialization, Product


Specialization, Market Specialization, Full Market Coverage, and Individual marketing strategies


(, 2010). What is a Brand? LEARNING TEAM: WEEKLY REFLECTION 5 According to Business Dictionary, 2016, Brand is a unique sign, symbol, words, design,


or a combination of these, embedded in creating an appearance/image that identifies a service or


product and differentiates it from its competitors (Business Dictionary, 2016). Over a certain


duration, this image becomes associated with a level of quality, credibility, and rapport with


customer?s/consumers. Brand is how consumers perceive a company.


Importance of Branding


Branding provides a competitive advantage. Organization?s needs to compete for


audience attention, funding and talent, and resources. To be successful and remain competitive


and or set benchmarks, organizations need to implement strategies to acquire the aforementioned


with their brand. Brands also provide a stable asset. Brands are the most sustainable asset of any


organization, spite whether or not their companies merger, are sold and bought, technologies


change, and or their products fail. The most important reason for branding is it helps promote


recognition, differentiates businesses from competitors, generates referrals, helps businesses


connect with consumers, provides business value, and most importantly, branding represents the


company and their promise to their consumers and setting benchmarks.


What images or thoughts do you relate to that brand?


Does the branding appeal to the market? Do those images influence consumers? decisions to buy


or use that brand?


Is the product successful?


What is the profitability of the product and what is the effect on the bottom line?


If this were your product or service, what might you do differently? References LEARNING TEAM: WEEKLY REFLECTION


Business Dictionary. (2016). Brand Definition. Retrieved from (2010). Target Market Selection. Retrieved from 6


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