Reflect on how the consumer purchase decision process looks like in an e-commerce context. Based on readings of provided references you are to provide your thoughts on the topic.

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INDIVIDUAL REFLECTION ASSIGNMENT TWO (E-COMMERCE)

Read a PDF called ”Individual Assignment Two” first to understand what the assignment is all about. Then proceed by reading the provided references by Bhattacharyyaa Etal, The Consumer Decision Journey, and The Futures Company.

In this assignment, reflect on how the consumer purchase decision process looks like in an e-commerce context.

Based on readings of provided references you are to provide your thoughts on the topic.

Your reflection should include (but is not limited to) thoughts on: main differences and similarities between online and offline consumer purchase decision processes, whether or not the traditional step-by-step funnel process is still valid or if it needs to be rethought, and if so in what way, how e-commerce companies should approach customers during the purchase decision process.

 

Define your business/product offering. What are the fundamental goals? What are your specific marketing objectives? Identify a specific, measurable market share and size.

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Brand Extension Marketing Plan

The assessment in this module is to complete a component of a Brand Extension Marketing Plan for one new product on the behalf of an existing for-profit organization. Using the Marketing Plan Guide found in Course Documents, complete and submit the following components of your Marketing Plan.

You need to first assume you have the role of a marketing manager for one new (currently not available) product on the behalf of a real, for-profit organization. Consider this a “brand extension.” You are adding a product to an existing company’s product line. This product may be introduced on a local, regional, national, or international scale. ** Please see attached paper for information about the product and company.

Use format and answer questions below.

Marketing Plan: Connecting with the Customer

3.0 MARKETING STRATEGY

3.1 Mission (review “mission” in Chapter 2 of the Kotler & Keller Marketing Management text)

Establish the fundamental goals for the quality of your business/product offering and customer satisfaction.
Define your business/product offering.
What are the fundamental goals? (Fundamental goals are those that you would like to achieve with your new product, either as an individual product or as part of the overall company mission. These are directional goals that provide the overall strategic direction for management planning.)
State the value proposition. Be sure to look up this term in your Kotler text if you do not fully understand it.

3.2 Marketing Objectives

Include a sentence or two about each of the following:

What are your specific marketing objectives?
Market share: what is your growth objective by quarter?
Market penetration: how do you plan to gain a share in this market?
Awareness: how do you plan to gain awareness for your product?
Customer acquisition: how do you plan to grow your customer base?
Identify a specific, measurable market share and size.
Remember that your objectives need to be quantifiable. In other words, objectives need to have a base point, end point, and timeframe so you can research to see if you have reached your benchmarks or if your plan needs adjustment.

3.3 Target Markets (refer again to Chapter 9 of your Kotler text to make sure you fully understand what is meant by target market segments).

Identify the specific target market segments you have defined. What are the market niches you hope to capture? Describe.
Include the rationale behind why these are the optimal target marketing segments. Be specific.

Conduct an independent piece of research of a company selected from a given list that considers different industries/organisations and management practices across different geographical locations by evaluating how corporate social reasonability practices have been undertaken and critically discuss alternative approaches and solutions.

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Corporate Social Responsibility

You are expected to conduct an independent piece of research of a company selected from a given list that considers different industries/organisations and management practices across different geographical locations by evaluating how corporate social reasonability practices have been undertaken and critically discuss alternative approaches and solutions.

 

 

Submit a business feasibility report to demonstrate how the proposed venture will be developed and how financially attractive the company may become, with a view to convincing the investor to invest in the company.

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Entrepreneurship: Creating a Business Opportunity

An investor has offered you 1 million dollars to set up your own business venture. In order to secure the 1 million dollars for your business, you are asked to submit a business feasibility report to demonstrate how the proposed venture will be developed and how financially attractive the company may become, with a view to convincing the investor to invest in the company.

Each student has to write a business feasibility report (not a marketing report) on a new business idea capable of supporting the creation of a new growth venture.

The business feasibility report will analyse the business and decide whether the proposed business idea would be feasible

 

How do social influencers interact with companies and their brands? What is the current mood of consumers regarding brands and their impact on social and political issues? Does this mood vary according to demographic factors?

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Branding

1)Name some individuals who have created lucrative personal brands. How have they achieved this success?

2)How do social influencers interact with companies and their brands?

3) What is the current mood of consumers regarding brands and their impact on social and political issues? Does this mood vary according to demographic factors?

minimum of 4 peer-reviewed journal article references.

 

Analyze BP’s efforts to improve sustainability and its reputation prior to the Deepw Horizon disaster. Was the company on the right track? Why or why not?

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Tarnished reputation Case Brief

Although BP faces a $40 billion cleanup bill, a slew of negative puyblsimcit knowledg eearnd divailcis safety division at BP, CEO Dudley has appointed a board member with new loss of $4.9 billion, the company is striving to rebuild its reputation. Ion madadkietioBnptoinat ° process safety. The company is intent on attaining growth arnodmwisielldpta Of afest offshore energy operator in the business. Unfortunately, a day after this announce-safest in order to spend more on oil exploration. Du ey also so the sment, a U.K. safety regulator reprimanded BP for safety issues on three of its North _es rigs—which draws BP’s commitment into question. Sea Implications for BP’s Marketing Strategy BP’s “Beyond Petroleum” positioning backfired due to the Deepwater Horizon environ_ send man years building a reputation, and it can be tare_ mental disaster. A firm can p y fished in a single day through an event that destroys the confidence of customers and other stakeholders. In this case, BP became the target of almost every group on the Gulf Coast negatively impacted by the environmental effects of the oil spill. BP’s attempt to move its product away from being a commodity like those of its competitors failed, in fact, about the only strategy available for BP was to apologize and try to compensate the victims of the disaster. One of the worst things that can happen is to make claims of being a sustainable company and then be involved in a disaster that is just the opposite. A priority for BP’s future marketing strategies, at least for its consumer products, is to restore its reputation as much as possible and build a foundation for more realistic and authentic marketing activities to build strong relationships and trust with consumers. Another area where BP the marketing strategy has to be improved is its public rela-tions activities with various stakeholders such as regulators, local government entities business communities, and those who earn their living directly from the Gulf Coast environment. The company has taken action by investing heavily in advertising about the recovery from the disaster and the restored Gulf Coast beaches and hospitality industry. As BP does a good job with its public relations and compensation programs, it is attempting to create the groundwork for developing better relationships with customers in the future. From the beginning, BP proved it was able to overcome significant obstacles. It went from near bankruptcy to being one of the largest energy companies worldwide. BP has worked hard to overcome its negative image through sustainability marketing initiatives and social responsibility. However, BP’s emphasis on environmental responsibility backfired after the Deepwater Horizon disaster. Although it made great strides in repositioning its brand, it failed to properly manage its brand as a socially responsible company. The damage to BP’s Beyond Petroleum marketing strategy is not easy to repair. The development of trust is based on a firm’s commitment to integrity, transparency, and a concern for all stakeholders. In the future, BP needs to develop a marketing strategy that is seen as authentic in the face of that it claims to be. the socially responsible corporation

Questions for Discussion
water

  1. Analyze BP’s efforts to improve sustainability and its reputation prior to the Deepw Horizon disaster. Was the company on the right track? Why or why not?
  2. Because most BP products can be viewed as commodities, do you think consumers will? avoid purchasing from BP because of its track record and the Deepwater Horizon disaster. Why or why not?

Write a two-page report describing the characteristics of the product or what you think the characteristics should have been, the target audience selected, the promotions done for it and the distribution channels. Also add a list of the sources of data Nestle would have possibly used.

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Question 2:

Various companies have launched a new energy bar for athletes for consumption during demanding competitions. These different bars contain all sorts of ingredients supposedly to help an athlete perform better. Nestle had one a few years back and this bar contains ActiCaf, developed by the Nestle Research Center, a patented ingredient with caffeine for long-lasting alertness.What potential sources of internal secondary data and other sources of data do you think Nestle would have first investigated before considering the collection of primary data to research this product?

Write a two-page report describing the characteristics of the product or what you think the characteristics should have been, the target audience selected, the promotions done for it and the distribution channels. Also add a list of the sources of data Nestle would have possibly used.

Apply APA standards for writing style, spelling, grammar, and citation of sources

Can you provide an additional example to illustrate how Lego uses the societal marketing concept? What social/environmental causes are they aligned with and how do they communicate this to their consumers?

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LEGO Brand Analysis (REVISION)

ESSAY.

Can you provide an additional example to illustrate how Lego uses the societal marketing concept? What social/environmental causes are they aligned with and how do they communicate this to their consumers?

Can you elaborate on the impact of the macro-environment on their business practices?

Can you elaborate on the consumer research approach you recommend? You addressed some research approaches in broad strokes, but it will be beneficial to add specificity.

 

Choose at least two (2) other marketing situations and determine the marketing concept your peer’s decision falls into. Describe the issue through the lens of the sustainable marketing concept. How might this perspective change your recommendation?

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Morally Difficult Situations in Marketing

For this week’s discussion, review the eight (8) morally difficult marketing situations described in Table 20.1, in our Kotler and Armstrong (2018) textbook. Table 20.1

Some Morally Difficult Situations in Marketing Discuss Select one topic from the table and play the role of a marketing manager. What would you do?

Explain which ethics philosophy is guiding your decision.

Response

In your response, choose at least two (2) other marketing situations and determine the marketing concept your peer’s decision falls into, see: FIGURE | 20.1 Sustainable Marketing (Kotler & Armstrong, 2018).

Describe the issue through the lens of the sustainable marketing concept. How might this perspective change your recommendation?

 

 

Analyze the factors that determine the sample size for qualitative and quantitative data collection methods in a marketing research study. Explain why your marketing research study will employ a probability or nonprobability sampling design.

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Data Collection Methods

Scenario:

You are the new director of marketing for your chosen company. You have previously identified a marketing related problem or opportunity to study using marketing research principles. You have already identified a viable marketing related problem or opportunity to study, and you created research questions and objectives. You conducted research and developed a literature review to inform your strategic decision-making on the type of research design that would be most appropriate for your marketing research study. After an extensive evaluation, the C-level executives made the decision to proceed with the research.

Design the sampling and measurement plan. Then create a prototype of the survey instrument that will be used to collect primary data for your marketing research study.

Use the following criteria to explore your chosen award-winning organization to continue preparing a marketing research design:

Assessment Requirements: Outline the “Definition of the Target Population and Sample Size”, and “Sample Design and Data Collection Method” sections of your marketing research proposal (refer to pages 161-162 in your textbook).

  1. Choose your Company: Choose an award-winning company from the Baldrige Performance Excellence Program (https://www.nist.gov/baldrige/award-recipients) website to study. Evaluate the “Award Application Summary” as a business case for your chosen company.
  2. Role of Sampling: Examine the role of sampling in the research process in a marketing research study. * In an introductory paragraph, provide three (3) examples of how sampling adds value in a marketing research study (refer to pages 144-150 in your textbook).
  3. Sampling Design Outline: Construct a sampling design for a marketing research study (refer to pages 161-162 in your textbook). Identify and explain the target population, and sampling units for your marketing research study (refer to pages 144-146 in your textbook).

Identify the sampling frames needed for your marketing research study. Provide reasoning (refer to pages 146 in your textbook). Use research (including your textbook or other peer-reviewed resources from the Purdue Global Library) to substantiate your sampling design outline decisions.

  1. Sample Design Size: Analyze the factors that determine the sample size for qualitative and quantitative data collection methods in a marketing research study. Explain why your marketing research study will employ a probability or nonprobability sampling design (refer to pages 148-152 in your textbook).

Explain the sample size of your marketing research study will require (refer to pages 157-162 in your textbook). Use research (including your textbook or other peer-reviewed resources from the Purdue Global Library) to substantiate your sampling design size decisions.

  1. Value of Measurement: Analyze the value of measurement in data collection instruments. Explain the value of measurement in a marketing research study (refer to pages 168-169 in your textbook). Explain the value of construct in a data collection instrument (refer to pages 169-173 in your textbook). Choose two measurement scales, and explain how they will be used in your data collection instrument (refer to pages 173-194 in your textbook).
  2. Data Collection Plan: Design a data collection plan for a questionnaire. Outline the data collection plan using headings and subheadings to present a valid and reliable questionnaire (refer to pages 202-203 in your textbook). Explain why applying the steps in the questionnaire design are important to apply in your data collection plan (refer to Chapter 8 in your textbook). Complete step 1 in the questionnaire design process.

Explain how and why your research objectives and information requirements are confirmed (refer to page 204 in your textbook). Complete step 2. Select an appropriate data collection method, and provide reasoning for your decision (refer to pages 204-205 in your textbook).

  1. Questionnaire Instrument: Design a data collection instrument using a mixture of qualitative and quantitative techniques for a marketing research study. Using the knowledge in step 3 of the questionnaire design process, create four (4) unstructured questions for your survey questionnaire (refer to pages 205-219 in your textbook).

Using the knowledge in step 3 of the questionnaire design process, create four (4) structured questions for your survey questionnaire (refer to pages 205-219 in your textbook). Format the layout, and explain the flow of your questionnaire.

  1. Cover Letter: Develop a cover letter for inclusion in the introductory section of data collection instruments. * The cover letter follows the ten (10) guidelines for developing a cover letter and questionnaire introductory section (refer to page 220 in your textbook). Review the attached Competency Assessment Rubrchoic before beginning this assessment.