Tracy, one of your friends, is in the early stages of conducting a feasibility analysis for a small business consulting company. Understanding the target audience and the marketing mix is a mandatory step for achieving success in her new venture. Branding is equally important. In this assignment, you will act as a consultant to Tracy to find the best answers to her problems related to understanding the market and planning and executing the correct marketing strategies.Tasks:Respond to the following questions:How would you advise Tracy to approach the following topics?Market segmentationSelection of a target marketDevelopment of a positioning strategyYou are familiar with the concept of branding and know that because her company is new, she will have to build a brand from scratch. What needs to be done in this case?Write your initial response in 300–500 words. Your response should be thorough and address all components of the discussion question in detail, include citations of all sources, where needed, according to the APA Style, and demonstrate accurate spelling, grammar, and punctuationMake sure your writing is clear, concise, and organized; demonstrates ethical scholarship in accurate representation and attribution of sources; and displays accurate spelling, grammar, and punctuation.Grading CriteriaAssignment ComponentsMax PointsInitial response was:Insightful, original, accurate, and timely.Substantive and demonstrated advanced understanding of concepts.Compiled/synthesized theories and concepts drawn from a variety of sources to support statements and conclusions.16Discussion Response and Participation:Responded to a minimum of two peers in a timely manner.Offered points of view supported by research.Asked challenging questions that promoted discussion. Drew relationships between one or more points in the discussion.16Writing:Wrote in a clear, concise, formal, and organized manner. Responses were error free.Information from sources, where applicable, was paraphrased appropriately and accurately cited.8Total:40