Identify the general economic conditions of the country, region, state, or local area where the firm’s target customers are located. How are these economic conditions related to customers’ ability to purchase the firm’s products?

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Project SBU

You will need to collect information on the major forces which are impacting or are likely to impact your project SBU. You need to gain a feel for this by using secondary sources and your textbook. Your text can act as a guide for the major topics impacting the business, the secondary sources provide information as to the forces which are impacting the business. Use the bullet points below to aid in guiding your research and analysis.

Your search strategy should include using terms such as industry news trends (place in industry name). You can also use sources that are specifically designed to provide macro trend information. A few examples of macro trend sources were outlined in the discussion. This information is not industry-specific, so you would need to make and justify linkages.

Identify the top 2-3 most relevant items related to the criteria below. You have a maximum of 6 pages not including the cover page and references:

Sociocultural Trends
With respect to the firm’s target customers, identify changes in society’s demographics, values, and lifestyles that affect the firm or the industry.
Explain how these changes are affecting (or may affect) the firm’s products (features, benefits, branding), pricing (value), distribution and supply chain (convenience, efficiency), promotion (message content, delivery, feedback), and people (human resource issues).
Identify the ethical and social responsibility issues that the firm or industry faces. How do these issues affect the firm’s customers? How are these issues expected to change in the future?

Economic Growth and Stability
Identify the general economic conditions of the country, region, state, or local area where the firm’s target customers are located. How are these economic conditions related to customers’ ability to purchase the firm’s products?
Describe the economics of the industry within which the firm operates. These issues might include the cost of raw materials, patents, merger/acquisition trends, sales trends, supply/demand issues, marketing challenges, and industry growth/decline.

Competition
Identify the firm’s major competitors (brand, product, generic, and total budget).
Identify the characteristics of the firm’s major competitors with respect to size, growth, profitability, target markets, products, and marketing capabilities (production, distribution, promotion, pricing).
What other major strengths and weaknesses do these competitors possess?
List any potential future competitors not identified above.

Science and Technological Trends
How have recent technological advances affected the firm’s customers with respect to needs/wants/preferences, access to information, the timing and location of purchase decisions, the ability to compare competing product offerings, or the ability to conduct transactions more effectively and efficiently?
Have customers embraced or rejected these technological advances? How is this issue related to customers’ concerns over privacy and security?
How have recent technological advances affected the firm or the industry with respect to manufacturing, process efficiency, distribution, supply chain effectiveness, promotion, cost-reduction, or customer relationship management?
What future technologies offer important opportunities for the firm? Identify any future technologies that may threaten the firm’s viability or its marketing efforts.

Political and Legal Trends
Identify any political activities affecting the firm or the industry with respect to changes in elected officials (domestic or foreign), potential regulations favored by elected officials, industry (lobbying) groups or political action committees, and consumer advocacy groups.
What are the current and potential hot button political or policy issues at the national, regional, or local level that may affect the firm’s marketing activities?
Identify any changes in international, federal, state, or local laws and regulations affecting the firm’s or industry’s marketing activities with respect to recent court decisions, recent rulings of federal, state, or local government entities, recent decisions by regulatory and self-regulatory agencies, and changes in global trade agreements or trade law.

Other Major Global Forces
Identify any other major global forces that could impact your projects SBU.
For Assignment Submission
Your answers to the sections should be in narrative paragraphs. By the end of the term you could pull the paragraphs and use the feedback from your instructor to place into a complete strategic marketing plan. Use the format below to place your responses. Be sure to review the grading rubric to identify areas of grading used by your instructor. Be sure to use credible sources to back your statements and cite using APA 7th edition for formatting.

Environmental Analysis Assignment Format

For each of the following topics:

Identify at least one environmental trend for each of the environmental domains (categories) below (a-f). This is a minimum of six trends.
Identify the impact of these trends on the project SBU. Justify through referenced research.
Explain the effect on your SBU’s marketing strategy given these environmental factors.
Your search strategy should include using terms such as: industry news trends (place in industry name). You can also use sources that are specifically designed to provide macro trend information. A few examples of macro trend sources were outlined in the discussion. This information is not industry specific, so you would need to make and justify linkages.

Major Environmental Factors
Sociocultural Forces & Demographic Shifts:
Impact of these trends on the project SBU
Economic Trends:
Impact of these trends on the project SBU
Competitive Trends:
Impact of these trends on the project SBU
Science and Technology:
Impact of these trends on the project SBU
Political and Legal:
Impact of these trends on the project SBU
Major Global Forces:
Impact of these trends on the project SBU
2. Specify the overall effect on strategy from these environmental factors on your SBU:

Review the material above and your course unit content. Conduct research from two credible trade sources. Proper in-text citations and correctly formatted references should be prepared consistent with the APA (7th edition).

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Unit 2 Discussion

You work for a firm that is in the process of developing a marketing strategy. You have been tasked with finding environmental trends and identifying specific factors that will influence the development of your marketing strategy.

Review the material above and your course unit content. Conduct research from two credible trade sources. Proper in-text citations and correctly formatted references should be prepared consistent with the APA (7th edition).

Discussion Issues

Specify an industry and research to identify at least two environmental trends for two environmental domains (categories) below (a-f). This is a total of a minimum of four trends. Your format is:

  • Industry (Could by your SBU’s Industry)
  • sociocultural forces and demographic shifts
  • economic trends
  • competitive trends
  • science and technology
  • political and legal
  • major global forces.
  • Describe and justify how these environmental factors will influence a marketing strategy. Be sure to cite your sources.
  • Be sure to provide header and Running Head

Assume that one of your ideas proceeds through the new product development process with flying colors and is ready for commercialization. Describe how it will evolve through the product life cycle and how marketing strategies change.

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4.3 – Assignment: Brainstorming New Product Ideas

You will submit a mind map for this assignment. If you are not familiar with mind-mapping, do an Internet search on how mind maps look and what they are used for. Visit, for example, mindmapping.comLinks to an external site. which is designed to inform you about mind-mapping and provide ideas that can help you create and benefit from mind maps.

You may use any Internet mind-mapping tool of your choice to present the outcomes of your reflective thinking. You may find, for example, one of the following tools helpful:

  • bubbl.usLinks to an external site.
  • mindmupLinks to an external site.
  • mindmeisterLinks to an external site.

The central idea of your mind map is your chosen product, bearing in mind that it may also be a service. Build the first seven branches around the SCAMPER dimensions. Continue building branches or nodes around the mind map, with the first layer being one hierarchical layer of thought down. Further layers and subsequent branches are then further levels down in logical thought. Including callouts in your mind map provides “meta” commentary on a branch or idea. Callouts are placed “across” the hierarchy of thought, rather than above or below any of the branches. Relationships within mind maps show how concepts link together.

Your mind map is expected to focus on improving a product/service and should contain at least seven branches and two layers in addition to the central idea (first layer). There are no right or wrong answers, and not all the connections and interconnections between different layers, branches, and nods are likely to make sense to an external reader. That being said, within the mind map you are expected to present at least three logical ideas for concept testing.

Assume that one of your ideas proceeds through the new product development process with flying colors and is ready for commercialization. Describe how it will evolve through the product life cycle and how marketing strategies change.

Identify a product or service that you recently purchased. Describe the steps you took during the consumer buying process and identify the factors that influenced your purchase decision.

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3.2 Why Did You Buy That?

In your initial post, identify a product or service that you recently purchased. Describe the steps you took during the consumer buying process and identify the factors that influenced your purchase decision.

Discuss the airline’s branding strategy. What do you feel is their competitive advantage? How does quality relate to customer satisfaction with the airline brand?

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4.2 Branding . . . More Than Just a Logo

Pick an airline, domestic or international, and address the following topics:

Discuss the airline’s branding strategy.
What do you feel is their competitive advantage?
How does quality relate to customer satisfaction with the airline brand?

Apply the criteria of the Stage-Gate process to explain why any one of these new product ideas failed. Choose one and look it up on Google, and confront it with the three questions to see if one was the culprit: Could it be properly made? Could it be sold? Could the makers make money selling it?

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Stage-Gate process

Apply the criteria of the Stage-Gate process (Gate # 1) to explain why any one of these new product ideas failed. Choose one and look it up on Google, and confront it with the three questions to see if one was the culprit: Could it be properly made? Could it be sold? Could the makers make money selling it? Meaning, was it a technical failure, commercial, or a financial flop? Mind you, sometimes products are just ahead of their time… Use no more than 150 words, no less than 100; you may support your argument with comparisons (against successful ideas or failures just as well) or with business or academic sources. Cite APA style and include any reference.

Options to choose from:

  • The Ford Edsel
  • The Delorean
  • The Sony Betamax
  • The Apple Newton
  • Facebook’s Homescreen (Called Facebook Home)
  • Samsung’s Galaxy Note 7
  • McDonald’s Arch Deluxe
  • Reynold’s smokeless cigarettes
  • Fox’s Terra Nova (TV series)
  • The US Football League

 

Generally speaking, what type of product is yogurt? Does your answer change for the different product categories that ‘Chobani’ has defined for its offerings? Is ‘Chobani’s’ introduction of yogurt for children a brand extension or line extension? Explain.

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Marketing management, case study+ critical thinking questions,MGT201

Case Study

Read the Chapter Case Study entitled Yogurt Lovers say, “It’s All Greek to Me” from Chapter- 11 “Product, Branding and Packaging decisions” Page: – 381 given in your textbook – “Marketing” (8th Edition) by Dhruv. Grewal and Michael. Levy (2022) and answer the following Questions:

Assignment Question(s):

1.Generally speaking, what type of product is yogurt? Does your answer change for the different product categories that ‘Chobani’ has defined for its offerings? (2 Marks)

2.Is ‘Chobani’s’ introduction of yogurt for children a brand extension or line extension? Explain. (2 Marks)

3.How is ‘Chobani’ positioning its various product categories currently? How is it communicating its current positioning strategy? (2 Marks)

Part-B Critical Thinking

Answer the following questions based on the concepts discussed in Chapter- 13, 15 and 18

1.Assume you were hired by the local grocery store to help in assessing its service quality based on the five service dimensions to determine the overall service quality: reliability, responsiveness, assurance, empathy, and tangibles. How would you go about undertaking this project? (Ch-13) (3 Marks)

2.Price skimming and market penetration pricing are the two important pricing strategies used by Marketers. Ahmad wants to launch his new backpack in the local market. Being a marketer which pricing strategy you will suggest him to use and why? (Ch-15) (3 Marks)

3.Do you find any difference between advertising and public relations? How can public relations contribute to a firm’s IMC? Explain with the help of a suitable example.(CH-18) (3 Marks)

Note:

1.Answer all the questions based on your understanding from the concepts discussed in the class, PPTs and Text book.

2.Justify your answers with at least two references for each question.

3.If plagiarism is more than 25% you will get 0 marks for the questions concerned.

 

Conduct a situational analysis (environmental scan) and SWOT analysis, identify the product offerings, keys to success, and any critical issues your business currently faces, including COVID.

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Marketing Management

Required Sources: Kotler, P., & Keller, K. (2016). Marketing Management. (15th ed.). Boston, MA: Prentice Hall.

This week you will review the environment your organization operates in. Conduct a situational analysis (environmental scan) and SWOT analysis, identify the product offerings, keys to success, and any critical issues your business currently faces, including COVID. This completes section 2 of your marketing plan.

There are 2 sample marketing plans in the text. The first plan is for Pegasus Sports on pages 61-65, and the second plan is for Sonic on A1-A12. There is an example of an environmental scan and a template posted in Moodle to help you.

  • HOW TO SHAPE THE PAPER
  • Unless otherwise noted, papers will be typed using 12-point, Times New Roman, double spaced, with (R&L) 1 inch margins. Standard format is to use the introduction, main concepts, and summary/conclusion. Make sure information flows, is sequential, and is formatted properly per APA Guidelines. Your final plan is to be written in outline format.

 

All of the following are elements of a product except? Which of the following is a subjective measure of brand equity?

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Elements of a product

All of the following are elements of a product except?

  1. brand name.
  2. quality levels.
  3. packaging.
  4. warranties.

All of these are elements of a product.

Which of the following is a subjective measure of brand equity?

  1. Brand name
  2. Brand awareness
  3. Brand quality
  4. Perceived value

All of these are subjective measures.

(Answers to these questions can be found in the Quiz Your-self Answer Key section.)

 

Generally speaking, what type of product is yogurt? Does your answer change for the different product categories that Chobani has defined for its offerings?

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Yogurt

1. Generally speaking, what type of product is yogurt? Does your answer change for the different product categories that Chobani has defined for its offerings?

2. Is Chobani’s introduction of yogurt for children a brand extension or a line extension?

3. How is Chobani positioning its various product categories currently? How is it communicating its current positioning strategy?