Marketing

Using the company you are conducting your marketing plan on, choose four products/services from an actual firm. Acting as the marketing manager for that firm, develop a BCG/portfolio analysis for your portfolio of products. Take into consideration that this BCG/portfolio analysis will be integrated in the final project, the Marketing Plan.  The BCG matrix (aka B-Box, BCG analysis, BCG-matrix, Boston Box, Boston Matrix, Boston Consulting Group analysis, portfolio diagram) is a chart that was created by Bruce Henderson for the Boston Consulting Group in 1968 to help corporations with analyzing their business units or product lines. This helps the company allocate resources and is used as an analytical tool in brand marketing, product management, strategic management, and portfolio analysis. For this PowerPoint presentation, you will develop a BCG/portfolio by following the four main categories of the BCG/portfolio analysis. Cash cows are units with high market share in a slow-growing industry. These units typically generate cash in excess of the amount of cash needed to maintain the business. They are regarded as staid and boring, in a “mature” market, and every corporation would be thrilled to own as many as possible. They are to be “milked” continuously with as little investment as possible, since such investment would be wasted in an industry with low growth. Dogs, more charitably called pets, are units with low market share in a mature, slow-growing industry. These units typically “break even,” generating barely enough cash to maintain the business’s market share. Though owning a break-even unit provides the social benefit of providing jobs and possible synergies that assist other business units, from an accounting point of view, such a unit is worthless, not generating cash for the company. They depress a profitable company’s return on assets ratio, used by many investors to judge how well a company is being managed. Dogs, it is thought, should be sold off. Question marks (also known as problem children) are growing rapidly and thus consume large amounts of cash, but because they have low market shares, they do not generate much cash. The result is large net cash consumption. A question mark has the potential to gain market share and become a star and eventually a cash cow when the market growth slows. If the question mark does not succeed in becoming the market leader, then after, perhaps, years of cash consumption, it will degenerate into a dog when the market growth declines. Question marks must be analyzed carefully in order to determine whether they are worth the investment required to grow market share. Stars are units with a high market share in a fast-growing industry. The hope is that stars become the next cash cows. Sustaining the business unit’s market leadership may require extra cash, but this is worthwhile if that is what it takes for the unit to remain a leader. When growth slows, stars become cash cows if they have been able to maintain their category leadership, or they move from brief stardom to dogdom. The company we have chosen is Apple and they have developed a coffee brand with K-Cup

Select an independent hospitality, travel or tourism business (individual hotel, single restaurant, night club, brewery, winery), travel company (airline, cruise ship, tour operator, OTA) or tourism organization’s (CVB, DMO, attraction – but NOT Disney or Universal) web site for review.   Chains and brands are not acceptable. Referencing the material covered in each of the course modules, including the textbook, videos and other resources provided, prepare a 2 – 3 page written document (using APA – 7th edition – style formatting – Calibri 11 pt. font preferred), answering each of the following: Section One (20 points) Company Name Web site address (URL) Section Two (30 points) Identify and explain how the core marketing concept of the 4 P’s is represented/reflected in the information presented by the company in their web site: Product (What evidence in the web site shows the company’s core, facilitating, supporting and augmented products?) Price (What information is conveyed through the web site that demonstrates the value proposition offered by the company?) Place (What are the channels of distribution indicted on the web site through which the product can be obtained?) Promotion (What are the advertising, public relations, sales promotions and personal selling aspects reflected in the web site?) Section Three (30 points) Describe the target marketing strategy (positioning) that’s apparent in the company’s web site, and evaluate and specify to which market segment(s) the web site’s information (appeal) is directed. Section Four (30 Points) Identify the evident resources (tools) that are integrated into the web site that enable data gathering and market research. Section Five (30 points) Analyze which micro and macro environmental influences are specifically addressed by the information included in the web site.  Share an example of one factor from micro and one from macro that are highlighted or mentioned in the information presented.  State whether the website utilized this information effectively or ineffectively. Section Six (30 points) Differentiate between how the company markets its services on the web site, versus how a manufactured good would be marketed, by identifying their approach to: Intangibility (How does the web site appear to overcome the intangibility factor?) Inseparability (What is presented in the web site that connects the target market with the experience?) Variability (How does the web site convey that there is consistency in experience delivery?) Perishability (What elements within the web site convey urgency for the target market to take action?) Section Seven (30 points) Assess how well this web site incorporates and represents the marketing concepts and principles covered throughout the course, sharing AT LEAST ONE suggested improvement that could be made to enhance its effectiveness.  Identify the marketing concept or theory that led to your suggested improvement.

Creating a new product launch for vitamins/health supplements to be sold at MEC. Develop a brief marketing plan for this new product line that MEC could launch in its stores.   QUESTION #1: NEW PRODUCT Describe the new product line (must be new to MEC yet aligned with its vision) and the category the product will fit in to. (3 marks)   QUESTION #2: TARGET MARKET Identify and describe the target market (using the segmentation variables) for this new product and the need it satisfies. (7 marks)   QUESTION #3: COMPETITIVE ADVANTAGE Describe two (2) competitors for the new products that MEC will introduce and identify how MEC’s new products will be different/better. (3marks)   QUESTION #4: MARKETING PROGRAM Prepare a brief marketing program as to how MEC might launch this new product line. Your plan must include (at least) -Objectives, Market Overview and all elements of the marketing mix- an elaborate product, price, distribution and communication strategy (promotion mix). (7 marks)

Creating an appealing in-store environment that matches the retailer’s overall brand is important part of a retail strategy. For this blog post, please evaluate the in-store environment of a retailer you are familiar with using the dimensions described in this week’s material. Please explain why, or why not, you think this store has an appealing in-store environment. Your blog post should be at least 150 words long and include an exhibit or illustration linked to the topic, either an uploaded photo / screenshot or a link to material online. Your blog needs to use keywords from relevant material this week.

After you have completed all of the Marketing Plan Assignments/modules, you will submit a written MiniSims Marketing Plan Final Analysis Report. As you proceed through each module, keep track of each of  your decisions and the outcomes of your decisions such as your target market, product design, pricing strategy, integrated marketing communication strategy, etc. Your MiniSims Marketing Plan Project Final  Analysis Report should encompass the following:   1.    Introduction 2.    Who was your target market? Why did you select that target market? How did you segment the market and what type of segmentation bases were used? (demographic, etc.)  What was your positioning strategy (salient attribute, etc.?). You have addressed various target markets during the MiniSims 3.    What buyer behavior was the most impactful in making your marketing decisions? 4.    What was your product strategy? What type of product was it (convenience, shopping, etc.)? 5.    What was your pricing objective (sales, profit oriented, etc.)? What was your pricing strategy? (price skimming? marketing penetration? Status quo?) 6.    What was your Integrated Marketing Communications Strategy? 7.    What type of Distribution Strategy and type of Retailers? 8.    What metrics did you use/ review to analyzing your strategies for the Marketing Plan to assess if your plan is reaching its objective of increasing sales? 9.    Conclusion   Note: Please see MiniSims Marketing Plan Rubric for assessment parameters.   MLA Citation Format is REQUIRED in your Marketing Plan Project Analysis Report on the MiniSims. Further, you should be applying the concepts/ theories that you learned in the course/ text in your report. Citing the author(s) of your text is highly encouraged to reflect your critical analysis of the MiniSims experience.

1. A sales rep from AdVance spends several months with the buyer for a company that owns a dozen farms understanding the buyer’s needs, and puts together a proposal for several fertilizers produced for the company’s specific needs. When the sale is about to close, the buyer decides to purchase a cheaper, pre-made, standardized formula from another supplier. What is the most likely explanation of the outcome of the interaction? 2. You have just been hired as a Vice-President sales of a large multinational company. One of your sales consultants, Mr. David,  just droped his resignation. The HR department is about to schedule an exit interview with him. In the feedback document (prepared by HR), it is written that Mr. David has always complained about long working hours and tough competition. The HR thinks he has a wrong idea about sales and the appropriate attitude needed to succeed in the role and that they see a potential in this employee. Prepare the main ideas you will share with David to change his attitude towards sales and motivate him to stay. 

Select two healthcare advertisements.  Write a minimum of 200 words for each advertisement explaining the effectiveness of each advertisement regarding healthcare marketing.  Typed, using correct English grammar, punctuation, and spelling.  Take screenshot of the advertisements and add them to the file. You must cite where the advertisement was found.   Please include a reference list that has the source for the advertisement and any other resources you used. At the very least, it will have the two sources cited for each advertisement. 

You have been hired as a business consultant to review a proposal created by two environmentally-conscious entrepreneurs who want to start a new company that designs solar-powered cellular phones (NOT a case or charger).  The cell phones will run on the Android operating system.  The entrepreneurs are looking for advice regarding several decisions they need to make.  First, visit the following two links to visualize the product that the entrepreneurs desire to design and build.  The proposed cell phones will look something like the ones you see in those websites. https://www.androidauthority.com/xiaomi-solar-phone-1015790/  (Links to an external site.)   https://appleinsider.com/articles/18/05/16/solar-powered-iphone-x-tesla-by-caviar-goes-on-sale-for-4500  (Links to an external site.) You are primarily asked for giving advice in the following areas: Target customer group, price and specifications: The entrepreneurs are still debating if they should develop the product for the extremely high-end, high-end, high-middle, middle, low-middle, or low-end market.  You need to help them to identify an appropriate target customer group. They are seriously considering targeting the young and college students by including high quality cameras, both front and back into their proposed cell phones.  They want to create a brand image of a trend setter that sells high quality products at a lower than average market price. The product must actually have revenue higher than average if they are to make any profit, so they are debating how to obtain extra fees and upgrades. Product release cycle: The entrepreneurs do not want to be technologically behind their competitors. Instead, actually they want to be one-step-ahead.  So they want to release a new version of their product every 9 months, instead of the typical once-every-12 months cycle. However, this means that their models will become obsolete faster (more frequently than is the norm). Raw material suppliers: The entrepreneurs want to minimize the costs associated with direct materials. Therefore, they intend to ask suppliers to submit bids from which the entrepreneurs will then choose the lowest bid. Assembly factory: The entrepreneurs want to minimize the production costs and possibly also eliminate the cost of building a factory. Thus they are considering outsourcing the manufacturing of their innovative cell pones to a company in China. Analyze the decision considerations that the entrepreneurs are grappling with as outlines in the bullet points above.  Then, write a report that outlines the top CSR issues (at least 3 issues) that may become critical for these entrepreneurs’ business over the next three years.  (PLEASE USE this Template , this Grading Rubric , and these writing guidelines  when you preparing your final report). The report MUST address the following: 1. INTRODUCTION (Clearly discuss the purpose of the report and demonstrate your understanding of the audience) 2. BACKGROUND OF SITUATION 3. OVERVIEW OF CORPORATE SOCIAL RESPONSIBILITY (CSR) FRAMEWORKS 4. ISSUES THAT MAY HAVE CSR IMPLICATIONS (Choose three most important issues that have CSR implications and discuss why you chose the three (and/or why you did not choose others if there are any other) 5. AFFECTED STAKEHOLDERS AND ASSESSED IMPACT OF THE THREE ISSUES (Stakeholders must be discussed in the order of importance and you need to justify the order, which means the most important stakeholder must be discussed first. Clearly show logical connection between the issues and each of the stakeholders.) 6. CONCLUSIONS (This assignment asks you for solid “business” advice for success. NOT the “most socially responsible” path that fails the company.) Then,  as shown in the “Template “, your report should have: 7. REFERENCES (APA style: At least 10 references including those from the16 assigned reading materials in Modules1, 2 & 3.  The credibility of each reference must be evaluated using the CRAAP test and the summary of the CRAAP test result must be in APPENDIX) 8. APPENDIX: (Must contain at least one table: Summary of the CRAAP Test Results.  See the CRAAP test and a sample table .)

Choose an organization with which you are familiar. Write a 700- to 1,050-word paper in which you review the impact of consumer behavior on this organization’s marketing strategy.  Review and evaluate a specific example of how this organization utilized its knowledge of consumer behavior to adjust its marketing strategy.  How did this organization figure out what its target market wanted?  How was the organization’s marketing strategy (product, price, distribution, promotion, service) impacted by consumer behavior? Format your paper consistent with APA guidelines.

Video Assignment 1: Triggering Behavioral Change: How to Make Consumer Habits” Please watch the following Youtube webinar published by Marketing Science Institute and answer the following question:  Triggering Behavioral Change  1. Based on the video discussion, what are characteristics of consumer habits? (2pts) 2. Please describe the framework of creating automatic behavior. What are the key factors in this process? Explain. (4pts) 3. Find two examples to illustrate this automatic behavior process. Please avoid using the example discussed in the video (4pts) Because there is a video, I will add an extra $10.