MKT501 - Strategic Marketing Module 2 - SLP - 10035

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Continue to work on the SWOT Marketing Analysis for your branded product (good or service).

 

For this aspect of your SLP you're going to try a mini research project. It won't be scientific but you'll get to experience the joys and frustrations of talking to real customers.

 

(1)  Find at least 3 people who will talk to you easily, such as friends, and/or family members. Each person should be an actual or potential buyer of a product in the product category you chose in Module 1.  For instance, women buy handbags (and men buy them as gifts for women).  Pet owners buy pet food.   So if you are writing about Fancy Feast Cat Food, talk to at least 3 cat owners.

 

(2)  Ask each person these questions:

 

1.    When was the last time you bought (fill in the blank – eg ‘cat food’) ...

 

2.    What brand did you choose? What was your decision process in making this choice?

 

3.    How would you describe this brand's personality? [If the brand were a person, who would it be? You might also ask, "If the brand were an animal, what would it be and why?" You can substitute for "animal' any other category, such as tree, flower, famous movie star... use your imagination!]

 

4.    Suppose this brand appeared on a totally different product. For instance, imagine if KIA motors decided to offer computers.  Or imagine if Fancy Feast created dog food or pet supplies. What is your reaction?

 

(3)  Under Marketing Research summarize what you did in a paragraph or two. How many people did you talk to?   Briefly summarize how each person responded.

 

(4)  The major part of your assignment involves interpreting these answers.  In the Marketing Research section, do not just transcribe the responses you obtained in dialogue form. Interpret their answers to the 4 questions with reference to the background readings:  For instance, you might say, "The answers of Person A and B confirmed what Smith (2011) proposes; however, the answer from C seems to be different.  I believe these differences may be due to ..."

 

1.    Identify common themes among the responses. If your respondents seemed to offer widely divergent answers, explain why (using good logic and reasoning, with reference to the background).

 

2.    Review the discussion of decision-making in the background readings for Module 1. One source is
http://www.consumerpsychologist.com/cb_Decision_Making.html

 

3.    Explain whether the consumers you interviewed seemed to follow decision processes that resembled those discussed in the reading.

 

4.    How did these consumers balance the "should" vs. "want" factors?  Refer to
http://hbr.org/2008/07/tap-consumers-desire-for-shoulds/ar/1

 

5.    What did you learn from the experience of asking questions (a) about marketing and (b) about the way consumers respond to your product/brand?

 

(5)  Under Strategies/Product and Marketing Environment/Buyer Decision-Making and Behavior, with proper reference to what you placed under Marketing Research indicate the Strengths, Weaknesses, Opportunities, and/or Threats to the financial future of your product that you learned from your research.

 

In addition to completing the revisions that your instructor suggested in prior modules, submit the approximately 750-1250 SLP2 words you added to your paper (excluding title page and references) to Coursenet

 

Expectations with regard to your References and your Defense of Your Position on the Financial Future for your Branded Product.

 

Use the appropriate lines in the outline shown in SLP5 as titles and place the facts you find about your branded product under the appropriate titles (that is, in the appropriate sections).

 

Explain clearly and logically how the facts you find about your branded product are product Strengths, Weaknesses, Opportunities, and/or Threats.  Support those opinions as to why each fact is a Strength, Weakness, Opportunity, and/or Threat by using the required readings to support your positions on the issues.   Do not repeat or quote definitions.  Your use of the required readings to support your opinions (that is, contentions or positions) should demonstrate that you understand the concepts presented in those required readings.

 

Paraphrase the facts you find into your own words and ideas.  In other words, use quotes sparingly. And, as a rule of thumb, quotes, if absolutely necessary, should be not much longer than 5 words.

 

When writing an academically-oriented paper of this type, it is understood that much of the information you uncover will be facts about the branded product.  Even if you paraphrase those facts, you should cite in your text the source for those facts and link those citations to references at the end of your paper.  If, in your SLP, you refer to information obtained from talking with an owner/manager, you should cite what that manager tells you.

 

Guidelines for handling quoted and paraphrased material, are found at

 

Author Unknown (ND) Purdue Online Writing Lab.  Copyright ©1995-2011 by The Writing Lab & The OWL at Purdue and Purdue University
Available on 2011 December 22 at
http://owl.english.purdue.edu/owl/

 

Author Unknown (ND) Quoting, Paraphrasing, and Summarizing.  Purdue Online Writing Lab.  Copyright ©1995-2011 by The Writing Lab & The OWL at Purdue and Purdue University
Available on 2011 December 22 at
http://owl.english.purdue.edu/owl/resource/589/01/

 

Author Unknown (ND) Avoiding Plagiarism.  Purdue Online Writing Lab.  Copyright ©1995-2011 by The Writing Lab & The OWL at Purdue and Purdue University
Available on 2011 December 22 at
http://owl.english.purdue.edu/owl/resource/589/1/

 

Rather than your SLP be a report of one fact after another, the expectation is that you will take the facts you find about the branded product’s strategies and the environments that branded product faces and explain how you feel those facts will affect the financial future of your product.  Therefore, rather than grade on how much information you find about your branded product; the emphasis in grading your paper will be on your defense of the positions you take with regard to the strengths and weaknesses or your branded product and the opportunities and threats faced by your branded product.

 

 

 

 

 

Solution Description

 

Continue to work on the SWOT Marketing Analysis for your branded product (good or service).

 

For this aspect of your SLP you're going to try a mini research project. It won't be scientific but you'll get to experience the joys and frustrations of talking to real customers.

 

(1)  Find at least 3 people who will talk to you easily, such as friends, and/or family members. Each person should be an actual or potential buyer of a product in the product category you chose in Module 1.  For instance, women buy handbags (and men buy them as gifts for women).  Pet owners buy pet food.   So if you are writing about Fancy Feast Cat Food, talk to at least 3 cat owners.

 

(2)  Ask each person these questions:

 

1.    When was the last time you bought (fill in the blank – eg ‘cat food’) ...

 

2.    What brand did you choose? What was your decision process in making this choice?

 

3.    How would you describe this brand's personality? [If the brand were a person, who would it be? You might also ask, "If the brand were an animal, what would it be and why?" You can substitute for "animal' any other category, such as tree, flower, famous movie star... use your imagination!]

 

Attachments
MKT 501 Module 2 - SLP.docx
MKT 501 Module ...