MKT571 Week 5 Team Assignment - Media Options

Wk 5 Team – Media Options [due Mon]

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Purpose of Assignment 

The purpose of this assignment is to creatively illustrate traditional and new media options. An understanding of the target audience and effective communication for each is a desired outcome. It provides the Learning Team the opportunity to creatively illustrate traditional and new media options. An understanding of the target audience and effective communication for each is a desired outcome. 

 

Assignment Steps 

Create a Microsoft® PowerPoint® presentation, Prezi, or Vimeo video, etc. which illustrates one traditional media option (print, TV, radio, billboard, etc.) and one new (social media) media option for your brand and brand strategy for a product or service of your choice. The presentation should be a minimum of 7-10 slides or, if Prezi or Vimeo video, an 8-minute minimum.

 

Note: Prezi presentations cannot be uploaded to the classroom. Please provide your instructor with the link to the presentation on the web. Prezi will provide you with a URL link to the presentation.

 

Discuss in a minimum 700 words the differences between the traditional media option and the new media option in terms of audience, reach, channel and content. A table of differences may be used to concisely illustrate the differences, but you must include a discussion of insights/concerns/issues between the media options.

 

Your deliverable should include an actual marketing piece for the selected traditional media and for the selected new social media option. This can be actual copy, visuals, radio text, layout sketches, storyboard, etc. (possibly including slogans, logos, etc.) to illustrate how you would incorporate your creative recommendations into the two media branding or product strategies. 

   

 

   

MKT571 Week 6 Final paper and Social, Ethical, and Legal Implications Toyota (2020)

Social, Ethical, and Legal Implications

Purpose of Assignment

The purpose of this assignment is to help students think through the importance of social, legal, and ethical issues that may arise with their product or service and the implications of decisions made within those frameworks. It is designed to help the learners understand ethical and legal issues related to marketing practices. This knowledge helps to prevent such issues when developing the marketing strategies in their marketing plan. The executive overview of the marketing plan is not a summary and conclusion, but an overview of what the plan entails and what it does not address.

Assignment Steps

Producing and marketing a product without regard to ethical, legal, and social considerations is detrimental to the overall success of any company.

Assess in a maximum of 700 words the ethical, legal, and social issues affecting your product or service in two markets: the United States and one international market. Domestic market generally means the market where the company headquarters are located. If you choose a domestic market that is not the U.S., then your other market is required to be the U.S. marketplace. This should be added to the Target Market section of your Marketing Plan.

In addition:

·        Develop a process to monitor and control marketing performance. This process could be a flowchart but a flowchart is not required (flowcharts do not count towards your word count requirement).

Formulate a maximum 350-word executive summary including at a minimum the following elements:

·        Required executive summary elements:

o   Strategic Objectives 

o   Products or Services 

·        Optional executive summary elements:

o   Resources Needed 

o   Projected Outcomes

Integrate the previous weeks' sections, and incorporate corrections and suggestions from the instructor's weekly feedback. The marketing plan should be a minimum of 3,850 words and include the following:

·        Incorporate Understanding Target Markets (Week 2)

·        Incorporate Promotion and the Product Life Cycle (Week 3)

·        Incorporate Price and Channel Strategy (Week 4)

·        Incorporate Marketing Communication and Brand Strategy (Week 5)

·        Incorporate Executive Summary, Legal, Social and Ethical Considerations and the process to monitor and control marketing performance (Week 6)

Cite a minimum of three peer-reviewed references. 

   

MKT571 Week 5 Marketing Communication and Brand Strategy (2020)

Marketing Communication and Brand Strategy

Purpose of Assignment

This assignment is designed to help students understand the interrelationships between brand strategy and the communication message to the target audience. 

Assignment Steps

Develop a minimum 700-word branding strategy and marketing communication plan in Microsoft^® Word. This document should address at least 5 elements of the Situational Analysis and the Product, Place/Distribution, Promotion, and Price Strategies (modified below) sections of the marketing plan (from the Situational Analysis and the Product, Place/Distribution, Promotion, and Price Strategies lists below). The five elements you select should only come from the options provided below. You must include a measurement of customer loyalty and retention in your strategy document. You may include more than the minimum to provide clarity and coherence to your document. 

·        Situational Analysis:

o   Vision , Mission, Strategic objectives, Values

o   Strengths/Weaknesses

o   Competitor's Strengths/Weaknesses

o   Market Segments

·        Product, Place/Distribution, Promotion, and Price Strategies:

o   Creating a Brand Image

o   Maintaining Brand Image

o   Branding Concerns

o   Promotion/Integrated Marketing Communication

o   Advertising Strategy/Objectives

o   Push and Pull

o   Media Strategy

o   Advertising Execution

o   Public Relations/Strategies

Note: Charts/graphs/tables do not count toward the word count.

The plan will be a continuation of your global or multi-regional business you chose in Week 1. This will be incorporated into your overall marketing plan for Week 6.

Cite a minimum of three peer-reviewed references.

  

MKT571 Week 4 Price and Channel Strategy Toyota (2020)

Price and Channel Strategy

Purpose of Assignment 

This assignment is designed to help students analyze and understand how price setting and go to market (distribution) are interrelated and affects the profitability and growth of the business. It has been designed to be a short overview on purpose: the concepts of pricing and distribution are complex and a general understanding is what should be absorbed in one week of study. 

Assignment Steps 

Construct a minimum 700-word plan for setting price and a distribution model (place/distribution) in Microsoft^® Word. This plan should address at least three elements (from the Price and Place/Distribution list below) of the Price and Place/Distribution section of the marketing plan.

·        Price and Place/Distribution:

o   Distribution Strategies

o   Channels, Mass, Selective, Exclusive

o   Positioning within channels

o   Dynamic/Static Pricing Strategies

o   Channel tactics (Pricing)

o   Daily pricing, promotion pricing, List pricing

Note: Charts/graphs/tables do not count toward the word count.

The plan will be a continuation of your global or multi-regional business you chose in Week 1. This will be incorporated into your overall marketing plan for Week 6.

Cite a minimum of three peer-reviewed references.

   

MKT571 Week 3 Promotion and the Product Life Cycle-Toyota (2020)

Promotion and the Product Life Cycle

Purpose of Assignment 

All products/services go through a life cycle of NPI (new product introduction), growth, maturity and decline. These various stages affect the marketing strategy and promotional efforts. In Week 3, you will incorporate a product strategy that addresses at least 3 areas of the product life cycle. The primary objective of this assignment is to allow the student to demonstrate an understanding of the factors that can affect the launch of a product or service. A secondary objective is to understand the differences in a product launch in the U.S. (domestic market) and an international market.  

Assignment Steps 

Generate a minimum 700-word product strategy in Microsoft^® Word. 

Incorporate a product strategy that addresses the following:

·        At least three areas of the product life cycle (NPI-new product introduction, growth, maturity and decline).

·        How you will measure (what metrics will be used to determine success or failure) the marketing activities.

·        Create at least two different types of media methods for the products. One media method must be a print method and one must be non-print. A media method is a media strategy which highlights your product. For example, (this cannot be used in this assignment), a non-print media method would be a Facebook campaign that provides a user a reward for each review, positive or negative, posted about the use/appearance/price/etc. of the product. In your assignment, you should have 2-3 sentences about each media method (i.e. one paragraph of what you would do, not how to do it).

·        Address three elements of the Product and Promotion List (see below).

o   Product and Promotion List:

§  Integrated Marketing Communication

§  Advertising Strategy/Objectives

§  Push and Pull

§  Media Strategy

§  Advertising Execution                     

§  Direct Marketing

§  Public Relations/Strategies

§  Positioning 

The plan will be a continuation of your global or multi-regional company you chose in Week 1. This will be incorporated into your overall marketing plan for Week 6.

   

MKT571 Week 2 Understanding Target Markets - Toyota (2020)

Wk 2 – Understanding Target Markets [due Sunday]

 

To develop effective relationship marketing, a company must first understand its targeted consumers' buying influences and behaviors. This week's assignment is the first part of the development of a marketing plan. It provides the foundation of the marketing plan and introduces the student to a variety of diagrammatic tools for understanding a business. 

 

Assignment Steps 

To develop effective relationship marketing, a company must first understand its targeted consumers' buying influences and behaviors. In Week 2, create the Research section of your plan. 

 

Create the research section of your marketing plan in minimum of 700 words.

 

Include at least 3 elements of the Research List of Topics (see list below):

·        Research List of Topics:

·        Primary Research

·        Secondary Research

·        Consumer Analysis

·        Customer Profile

·        Continuous Consumer Monitoring & Research

·        Environmental Scanning

·        Identify Market, Economic, Technological, Regulatory, Legal, Social, and Ecological Forces

·        Current Opportunities

·        Potential Future Opportunities

·        Current Threats

·        Potential Future Threat

·        Diagrams are not required but can be used to provide clarity and conciseness. Diagrams (and subsequent discussion) can include SWOT (emphasizes internal market--Strengths, Weakness, Opportunities, Threats) TOWS (emphasizes the external market--Threats, Opportunities, Weakness, Strength), PEST (Political, Economical, Social, Technological), SOAR (Strengths, Opportunities, Aspirations, Results), and/or STEEP (Social, Technological, Environmental, Economical, Political). All diagram(s) should be in APA format and must include a subsequent discussion of the diagram(s) providing insight and clarity.

 

Develop the first two parts of the Target Market section, which includes an overview of the demographics (age, income, family members, and birthdays) and psychographics (activities, interests, and opinions) analysis. This is not a detailed analysis but an overview (basic trends and insights from the data that is presented in annual reports and other SEC type filings).

 

Explain the insights you have gained from your inspection and analysis of the demographic and psychographic information you have found. 

This assignment will be incorporated into your overall marketing plan for Week 6.

   

MKT571 Week 1 Researching Marketing Questions (2020)

Wk 1 – Researching Marketing Questions

Purpose of Assignment 

This assignment is designed to help students analyze and interpret primary and/or secondary data and research. First, students will be provided with a marketing report that allows for preparing basic executive level data insights. Second, they will be allowed to pick a company and product or service. This assignment will help prepare students for the development of their marketing plan. Students will be creating a marketing plan (refer to Marketing Plan and Outline document) so they may want to choose a company and product or service that has data readily available or where they can use demographic/psychographic data to provide insights. 

 

Assignment Steps

Part 1:

Analyze the Week 1 Business Growth Overview dataset. This is a marketing report generated by an analyst for the Senior Vice President (SVP) of Marketing at a large corporation. The analyst is new and has provided summary data but no insights or commentary for the SVP.

 

Construct a minimum 525-word memorandum for the SVP providing insights and commentary. The memorandum should include your analysis of the following:

·        Major areas of increase and decrease in revenue or type and/or category of business

·        Trends that are evident in terms of revenue or type and/or category of business

·        Insights that would help formulate marketing strategies to either continue growth or reverse decline

·        Additional analysis you (if you were SVP) would like to build a marketing goal and strategy or strategies (and why) 

 

Part 2: 

Select a global or multi-regional (does business in more than one country) company and one of its products or services that will serve as the basis for your marketing plan. You should obtain two years of annual reports as well as two years of 10K reports (provides a comprehensive overview of the company's business and financial condition and includes audited financial statements) for your data source. Once you have selected your product or service, you must define the size and type of your selected company that provides the product or service (available from annual reports). This need not be elaborate but must include total number of employees, production volume, distribution methods, and so forth. Record this information in a summary document as outlined below. 

 

Company and product selection is a critical part of this project. You must ensure your proposed company can implement the marketing methods discussed in Marketing Management. 

 

Prepare a minimum 175-word summary document and send it to your instructor as a record of your selection. The summary document should include the following:

·        Name of Company

·        Location of Company Headquarters

·        Name of Product or Service selected

·        General description of company (number of employees, revenue, type of ownership, web page, etc.)

·        General description of product or service

   

MKT571 Final Exam SCORE 100 PERCENT

Question 1

Nowadays, a __________ is being appointed by many firms so as to place the marketing function on a more equal footing with the functions performed by other C-level executives.

Select the correct answer

 

    marketing manager

 

    chief information officer

 

    finance manager

 

    chief marketing officer

 

Question 2

In the context of the value chain, __________ is a primary activity that involves bringing materials into the business.

Select the correct answer

 

    operations

 

    technology development

 

    marketing

 

    inbound logistics

 

Question 3

Which of the following is a difference between business markets and consumer markets?

Select the correct answer

 

    Suppliers in business markets are often expected to customize their products to suit the requirements of individual business customers, whereas suppliers in consumer markets are seldom expected to do so.

 

    Purchasing decisions in business markets are made by the end user, whereas purchasing decisions in consumer markets are made by a buying committee.

 

    In business markets, the total demand for goods and services is significantly affected by price changes, whereas in consumer markets, the total demand for goods and services is not significantly affected by price changes.

 

    In business markets, buyers usually purchase products through intermediaries, whereas in consumer markets, buyers usually purchase products directly from manufacturers.

 

Question 4

__________ divides the market into units such as nations, states, regions, cities, or neighborhoods.

Select the correct answer

 

    Geographic segmentation

 

    Demographic segmentation

 

    Psychographic segmentation

 

    Behavioral segmentation

 

Question 5

______ refers to a marketing strategy in which a firm tries to cater to all customer groups with all the products they might require.

Select the correct answer

 

    Full market coverage

 

    Multiple segment specialization

 

    Single-segment concentration

 

    Individual marketing

 

Question 6

__________ refers to the activity of designing a company's product and image so that they occupy a distinctive place in the minds of the target market.

Select the correct answer

 

    Targeting

 

    Segmentation

 

    Positioning

 

    Customization

 

Question 7

A company that interacts with its customers to get product ideas should:

Select the correct answer

 

    engage the right customers in the right way.

 

    prohibit customers from innovating products without its consent.

 

    focus solely on its lead users.

 

    allow all its customers to participate in the product-design process.

 

Question 8

In which of the following stages of a product life cycle are profits nonexistent?

Select the correct answer

 

    Decline

 

    Maturity

 

    Growth

 

    Introduction

 

Question 9

A fundamental and distinctive mode of expression that appears in a field of human endeavor is called a ________________.

Select the correct answer

 

    theme

 

    pattern

 

    style

 

    trend

 

Question 10

Which of the following best describes the term product system?

Select the correct answer

 

    It refers to a set of different but related items that operate in a compatible manner.

 

    It is a group of products that perform a similar function and belong to a single product class.

 

    It refers to a set of products available only to high-income consumers.

 

    It is a set of variants that are developed for a single product.

 

Question 11

Which of the following statements is true of a sharing economy?

Select the correct answer

 

    A sharing economy is primarily the result of two activities, harvesting and divesting.

 

    An organization's trust and reputation have little role in determining its place in a sharing economy.

 

    Self-policing mechanisms are typically absent in most platforms that form part of a sharing-related business.

 

    In a sharing economy, an individual experiences the benefits of being both a consumer and a producer.

 

Question 12

__________ is the first step a firm should take while setting the price for a product.

Select the correct answer

 

    Determining demand

 

    Selecting a price method

 

    Estimating cost

 

    Selecting the price objective

 

Question 13

Entities that assist in the distribution process of a product but neither take title to goods nor engage in the negotiation of purchases or sales are called ________.

Select the correct answer

 

    agents

 

    facilitators

 

    merchants

 

    jobbers

 

Question 14

Which of the following statements is true of personal communications channels?

Select the correct answer

 

    Their effectiveness derives from individualized presentation and feedback.

 

    They include public relations, advertising, and sales promotions.

 

    They are often less effective than mass communication channels.

 

    Their influence on purchase decisions is significant when products are purchased frequently.

 

Question 15

__________ seeks to create brand awareness among consumers and communicate to them about new products or new features of existing products.

Select the correct answer

 

    Informative advertising

 

    Persuasive advertising

 

    Reminder advertising

 

    Reinforcement advertising

 

Question 16

When marketers combine an existing brand with a new brand, the product is called a ________.

Select the correct answer

 

    family brand

 

    master brand

 

    sub-brand

 

    parent brand

 

Question 17

____________ is the process of maximizing customer loyalty by cautiously handling detailed information about customers and all customer touch points.

Select the correct answer

 

    Customer relationship management

 

    Product modification

 

    Enterprise resource planning

 

    Customer cloning

 

Question 18

The marketing department of StyleWheel Inc., a manufacturer of luxury cars, initiates intensive marketing efforts prior to the launch of a new model. Three months into the launch of the new model, the department decides to assess the short-term effects of its marketing activities. Which of the following is a reliable measure of performance for this purpose?

Select the correct answer

 

    Shareholder value

 

    Customer awareness

 

    Market share

 

    Perceived quality

 

Question 19

Which of the following measures reflects the short-term results of a firm's marketing efforts?

Select the correct answer

 

    Perceived quality

 

    Market share

 

    Customer awareness

 

    Sales turnover

 

Question 20

__________ refers to the capacity to satisfy humanity's needs without harming future generations.

Select the correct answer

 

    Durability

 

    Accountability

 

    Sustainability

 

    Profitability

 

Question 21

The __________ encompasses the actors engaged in producing, distributing, and promoting a product or a service.

Select the correct answer

 

    task environment

 

    demographic environment

 

    natural environment

 

    legal environment

 

Question 22

The __________ refers to the core business process in which an organization researches, develops, and introduces novel, high-quality products quickly and within the firm's budget.

Select the correct answer

 

    customer relationship management process

 

    customer acquisition process

 

    new-offering realization process

 

    fulfillment management process

 

Question 23

Business markets differ from consumer markets in that:

Select the correct answers

 

    in business markets, a marketer typically deals with several smaller buyers.

 

    the total demand for many goods and services in business markets is elastic.

 

    in business markets, purchasing is often executed through intermediaries.

 

    buying decisions in business markets are subject to multiple influences.

 

Question 24

Fashion Vista Designers, a firm that sells designer clothes, has outlets in four countries. In each country, it offers clothes that suit the climatic conditions of the country and match the cultural sensibilities of the local population. The marketing department of Fashion Vista often releases advertisements that show regional celebrities endorsing the company's products. In this scenario, which of the following types of market segmentation does Fashion Vista employ?

Select the correct answer

 

    Geographic segmentation

 

    Demographic segmentation

 

    Psychographic segmentation

 

    Behavioral segmentation

 

Question 25

A firm should use undifferentiated marketing to promote its products when:

Select the correct answer

 

    it wants to appeal to multiple market segments.

 

    it wants to customize its products for each consumer.

 

    the market shows several natural segments.

 

    all consumers have roughly the same wants and preferences.

 

Question 26

A customer-focused __________ presents a strong, convincing reason why the target market should purchase a product or service.

Select the correct answer

 

    value network

 

    project objective

 

    value proposition

 

    mission statement

 

Question 27

__________ is one of the methods used to develop ideas for a new product in which each feature of an existing product is noted and modified.

Select the correct answer

 

    Attribute listing

 

    Morphological analysis

 

    Mind mapping

 

    Reverse-assumption analysis

 

Question 28

__________ is a period in a typical product life cycle characterized by rapid market acceptance and significant profit improvement.

Select the correct answer

 

    Introduction

 

    Growth

 

    Decline

 

    Maturity

 

Question 29

Which of the following statements is true of fads?

Select the correct answer

 

    They have a long acceptance cycle.

 

    They tend to win over only a limited following.

 

    They usually satisfy a strong customer need.

 

    They last for several generations.

 

Question 30

The width of a company's product mix refers to:

Select the correct answer

 

    the total number of items in the product mix.

 

    the number of variants offered for each product in a product line.

 

    the number of different product lines carried by the company.

 

    the extent to which the different product lines in the mix are related in terms of end use.