MKT 571 Slingshot Academy / Mkt571genius.com

MKT 571 Final Exam Guide (New) FOR MORE CLASSES VISIT www.mkt571genius.com 1. The stage in the new product process that occurs first and has a pass ratio of 1:4 is the ________ stage. • test marketing • idea screening • product development • product soft launch 2. If Ming was interested in capturing distribution metrics for her retail organization, which of the following might she consider? • Customer complaints • Effective reach • Share of shelf • Trial rate 3. Creative strategies refer to the ________. • amount of creative content in a communications message • degree of innovation involved in the marketing of a product • way marketers translate their messages into a specific communication • novelty of a marketing communication 4. Top Gear is an award-winning British television series about motor vehicles, mainly cars. The show is presented by hosts who test drive new cars and provide reviews on the cars’ performance, prices, and other factors. Which of the following personal communications channels is Top Gear closest to in description? • Formal channel • Sponsored channel • Social channel • Expert channel 5. Mark feels that Shell delivers on its promises to supply the best gasoline possible to the public. His experiences with Shell have always been good, resulting in positive brand contact. Mark is most likely experiencing brand ________. • parity • alliance • bonding • essence 6. Robert is the owner of an automobile manufacturing company. He calls for a board meeting and tells his directors that he wants to build a car that lets drivers experience power and exhilaration. He tells them that the car must allow users to soar from 0 to 60 mph in about 4 seconds. He also says the price of the car must be affordable enough for anybody making a good salary. In accordance with the given scenario, Robert is trying to segment the market on the basis of ________. • family size • occupation • nationality • benefits 7. ROC Engineering, a Chinese shipbuilding company, agrees to build a fleet of submarines for the Sri Lankan navy, for which it will be paid in Sri Lankan currency. As per the agreement, ROC must also spend a substantial amount of the money it generates through this deal within the country. In accordance with the contract, ROC buys Sri Lankan tea at a reduced rate. This is an example of which of the following forms of countertrade? • barter • descending bid • offset • compensation deal 8. The ________ environment includes the actors involved in producing, distributing, and promoting an offering. The main actors are the company, suppliers, distributors, dealers, and the target customers. • economic • task • management • strategic 9. Apple hosts a large number of ________, which become customers’ primary source of product information after warranties expire and are organized by product lines and type of user (consumer or professional). • niche networks • blogs • online communities • microblogs 10. With respect to powerful brand elements, ________ is an extremely efficient means to build brand equity. This element functions as a useful “hook” to help consumers grasp what the brand is and what makes it special. • a product’s shape • a slogan • a patent • the tangibility of a product 11. Which of the following best describes BR Chicken’s value proposition? • We sell chicken at most major malls. • We sell tender golden chicken at a moderate price. • We undertake home delivery services. • We target quality-conscious consumers of chicken. 12. A ________ is a comprehensive, systematic, independent, and periodic examination of a company’s or business unit’s marketing environment, objectives, strategies, and activities, with a view to determining problem areas and opportunities and recommending a plan of action to improve the company’s marketing performance. • Market-based scorecard analysis • Marketing audit • Test market • Marketing plan 13. During which of the following stages in new product development decision-making do managers analyze if they can find a good idea consumers say they would try? • business analysis • concept development and testing • idea screening • idea generation 14. When the Modern Museum of Art separated its consumers by whether they were culture-oriented or outdoor-oriented for its new exhibit on art that used natural materials, they were using ________ segmentation. • personality • behavioral occasions • Psychographic lifestyle • social class 15. Which of the following is the strongest differentiator for brick-and-mortar stores who want to emphasize their superiority over online retailers? • pricing • product range • the shopping experience • product quality 16. In an attempt to improve their product, a company that manufactures screwdrivers discusses the modification of each attribute, such as replacing the wooden handle with plastic, providing torque power, adding different screw heads, and so on. This creativity technique is called ________. • attribute listing • morphological analysis • lateral analysis • mind mapping 17. Josh separated people who wanted a high quality lawn mower from people who wanted a low priced lawn mower, then examined whether different characteristics were associated with each consumer-response segment. Josh was defining segments using ________ considerations. • behavioral • demographic • descriptive • psychographic 18. Joe is a computer service technician. People in his neighborhood usually depend on his suggestions for purchasing any computer accessory or hardware, as they believe he has access to far more information on computer technology than the average consumer. The neighbors are also aware that Joe has the required knowledge and background for understanding the technical properties of the products. Within this context, Joe can be called a(n) ________. • transactional leader • gate keeper • role model • opinion leader 19. When a firm aims to underprice competitors and win market share, it is using a(n) ________ strategy that requires relatively fewer marketing skills as compared to other strategies. • overall cost leadership • product differentiation • focus • domestic customer relationship 20. ________ analysis looks at specific products, territories, and so forth that failed to produce expected sales. • Expense-to-sales • Sales variance • Microsales • Full costing 21. Sapphire Toys actually sells more than toys. It also sells branded clothing, music CDs, and books for children. This expansion of dealership sales offerings is an attempt to increase the value of the customer base by ________. • enhancing the growth potential of each customer through cross-selling • making low-profit customers more profitable • increasing the longevity of the customer relationship • reducing the rate of customer defection 22. Volkswagen concentrates on the small-car market and Porsche on the sports car market. These would be examples of what is called ________. • single-segment concentration • market specialization • product specialization • selective specialization 23. Companies provide rewards to customers who buy often and in substantial amounts. These reward schemes are referred to as ________ programs. • satisfaction • benefit • frequency • profitability 24. Which of the following questions is answered during the business analysis of ideas? • Can we find a cost-effective, affordable marketing strategy? • Can this product meet sales expectations? • Will this product meet our profit goals? • Have we got a technically and commercially sound product? 25. You are the marketing research director of a medium-sized manufacturing firm and you would like to engage an outside marketing research firm to conduct field interviews. Which of the following categories of marketing research firms should you use? • specialty-line marketing research firms • custom marketing research firms • global research management firms • syndicated-service research firms 26. Market-penetration, product-development, and market-development strategies would all be examples of ________ strategies. • conglomerate • horizontal • concentric growth • intensive growth 27. ________ gives products the appearance of being more environmentally friendly without living up to that promise. • Greenwashing • Astroturfing • Viral marketing • Ambush marketing 28. When a company introduces a product at a high price and then gradually drops the price over time, it is pursuing a ________ strategy. • switching cost • market-skimming pricing • market-penetration pricing • value-pricing 29. It has been observed that most new products have shorter product life cycles. What is the reason for this? • New products do not get adequate management support. • Most new products are not backed by a marketable idea. • Social and governmental constraints lead to this failure. • Rivals quickly copy products that are successful. 30. A group of products within a product class that are closely related because they perform a similar function, are sold to the same customer groups, are marketed through the same outlets or channels, or fall within given price ranges is known as a ________. • product class • product variant • product line • product type — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — MKT 571 Final Exam Guide FOR MORE CLASSES VISIT www.mkt571genius.com 1. Which component of a marketing audit includes major developments in income, prices, savings, and credit that affect the company? Technological Political Economic Cultural 2. Marketers must see themselves as benefit providers. For example, when a shopper purchases new shoes, he or she expects the shoes to cover his or her feet and allow him or her to walk unobstructed. This is an example of what level in the consumer-value hierarchy? Core benefit Pure tangible product Basic product Potential benefit 3. What type of strategy consists of geographical pricing, price discounts and allowances, promotional pricing, and differentiated pricing? Regular prices Price adaptation Altered pricing Fixed pricing 4. A company can learn a great deal by analyzing the degrees of brand loyalty. For example, ________ can show the firm which brands are most competitive with its own. hard-core loyals split loyals shifting loyals switchers 5. Marketers need to identify the hierarchy of attributes that guide consumer decision making in order to understand different competitive forces and how these various sets get formed. This process of identifying the hierarchy is called ________. market valuation market estimation brand association Market partitioning 6. Which of the following is a strategy that uses the manufacturer’s sales force, trade promotion money, or other means to induce intermediaries to carry, promote, and sell the product to end users? Strategic plan Lock strategy Push strategy Pull strategy 7. What are the four characteristics of a marketing audit? Simple, unique, randomly, and exclusive Announced, semi-annually, dependent, and perpetual Comprehensive, systematic, independent, and periodic Dependent, non-comprehensive, quarterly, and unannounced 8. ABC Technology is nearing completion on their product and market research has discovered a competitor is also close to launching a similar product. ABC has decided launch before their competition, this is called ________. first entry parallel entry late entry early entry 9. What can enhance the value of Web-based shopping experiences to serve as personal shopping assistants or Web-site guides? E-mail Avatars Tablets Smartphones 10. Through its cutting-edge point-of-sale inventory, management technology, and highly efficient shipping practices, Wal-Mart is able to keep its inventory expenditure extremely low and to pass these savings on to consumers in the form of low prices. Wal-Mart’s strategy is best described as ________. Overall cost leadership market development integrative growth differentiation 11. If the Ford GT is designed to accelerate to 50 miles per hour within 10 seconds, and every Ford GT coming off the assembly line does this, the model is said to have high ________. compatibility durabilitybmw interoperability conformance quality 12. Which control should periodically reassess its approach to the marketplace with a good marketing audit? Marketing control Ethical control Performance control Strategic control 13. What is the perceived monetary value of the bundle of economic, functional, and psychological benefits customers expect from a given market offering because of the product, service, people, and image? Total management benefit Complete marketing benefit Total customer benefit Ultimate service benefit 14. With ________ as a target market strategy, the firm concentrates on serving many needs of a particular customer group. market specialization product specialization selective specialization single-segment concentration 15. Which of the following can induce a firm to expand into the international arena? A saturated foreign market Cater to a domestic mass market High income level of domestic consumers A saturated domestic market 16. The effect of exposures on audience awareness depends on the following three factors: space, communication, and advertisements reach, frequency, and impact distance, timing, and focus height, length, and width 17. 2Wheels conducts exhaustive customer surveys to discover customer preferences and attitudes towards the brand. Sally uses cluster analysis to classify the data and help the company determine the trends in the information. Sally is using the technique of ________. data marketing data governance data accumulation data mining 18. A music school in Boyles Height, LA, specializes in teaching the guitar and the violin. After a spurt in growth and a few successful years, the school is experiencing a slowdown in sales and stability in its profits due to an increase in competition. The school is in the ________ stage of its life cycle. decline Maturity obsolescence growth 19. A firm must know where to position its product based on price and ________. region quality promotional efforts communication 20. The ability to meet humanity’s needs without harming future generations is now a top priority in most corporate agenda________. righteousness rules ethics Sustainability 21. What type of control focuses on measuring a company’s products territories, customer groups, segments, trade channels, and order sizes to help expand or eliminate any products or marketing activities? Activity Profitability Solvency Efficiency 22. Another basis for decision-making is referred to as ________. ethical practices situational ethics ethical dilemmas correct ethics 23. BMW’s “The ultimate driving machine,” American Express’ “Don’t leave home without it,” New York Times’ “All the news that’s fit to print,” and AT&T’s “Reach out and touch someone” are all examples of ________. brand slogan brand personality brand vision brand mission 24. Which method identifies the effect sponsorship has on consumers brand knowledge? Demand-side method Pricing method Supply-side method Positioning method 25. A social definition of marketing says ______. a company should focus exclusively on achieving high production efficiency, low costs, and mass distribution to facilitate the broadest possible access to the company’s products marketing is the process of extracting maximum value from consumers to facilitate corporate growth marketing is the process by which individuals and groups obtain what they need and want through creating, offering, and freely exchanging products and services of value with others effective marketing requires companies to remove intermediaries to achieve a closer connection with direct consumers 26. Prestige LLC, a small company that manufactures specialty cereals and energy bars, wants to launch a “green marketing” program in response to heightened consumer awareness about environmental issues. What should the company do to maximize the program’s chances of being successful? Emphasize benefits to the consumer rather than environmental benefits. Explain the rules and regulations laid out by governmental agencies to protect the environment. Demonstrate that the products will benefit both customers and the society in the long-term. Focus on the efforts and costs incurred by the company to bring these “green” products to consumers. 27. The marketing manager needs to know the cost of the research project before approving it. During which stage of the marketing research process would such a consideration most likely take place? Step 1 — defining the problem Step 2 — developing the research plan Step 4 — analyzing the information Step 5 — drafting the report 28. New-to-the-world products are ________. new product enhancements that supplement established products existing products that are targeted to new geographical markets new products that create an entirely new market low-cost products designed to obtain an edge in highly competitive markets 29. _______ is an approach that considers different ethnic and cultural segments require targeted marketing campaigns and tactics. Ethnic-based marketing Diversity marketing Multicultural marketing Specialized marketing 30. The three guidelines for anticipating management reactions are (1) prior to the crisis during normal day-to day operations, (2) at the moment some event triggers the crisis, and (3) during the crisis situation that triggers the event. These guidelines are the stages for ________. decision making provoking solutions crisis management problem-solving — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — MKT 571 Week 1 DQ 1 FOR MORE CLASSES VISIT www.mkt571genius.com What have been the major marketing trends in the last decade? What new marketing trends do you anticipate in the next 10 years? — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — MKT 571 Week 1 DQ 2 FOR MORE CLASSES VISIT www.mkt571genius.com UOP has been the darling of Wall Street during the last few years. They offer some of the highest profit margins of any company in America today. And UOP has had a fine record of growing both revenue and profits. They are, by far, the largest private university in the Country. From a marketing standpoint what do you think UOP is doing well? What areas do you think can be improved? — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — MKT 571 Week 1 Individual Assignment Qualitative Focus Group Research Discussion Guide (2 Papers) FOR MORE CLASSES VISIT www.mkt571genius.com This Tutorial contains 2 Papers Select a local company and one of its products or services. Create a 1,400-word Discussion Guide for your selected product or service to be used during the course of a Focus Group that researches your product or services target market. In your plan, be sure to do the following: • Identify a problem or opportunity that may be facing that product or service. • Identify a primary target audience for that product or service in terms that relate to the audience’s demographics, needs, or preferences as those relate to the product or service, and behaviors related to the category of or the specific product or service. The better you define them, the better the screener will be at recruiting the right people for the focus group. • Develop one overarching goal for the research. • Develop a discussion guide/script or exercises that will elicit the information needed to address your informational goal. Questions should be open-ended to encourage dialogue among the focus group participants. Format the assignment consistent with APA guidelines. Click the Assignment Files tab to submit your assignment. — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — MKT 571 Week 2 DQ 1 FOR MORE CLASSES VISIT www.mkt571genius.com This week we are reading about “branding”. Here is a recent article on the subject. Comments please. — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — MKT 571 Week 2 DQ 2 FOR MORE CLASSES VISIT www.mkt571genius.com We are entering a real crowded and mature market with our CNN product. (Read class case introduction). Here is a two part DQ. 1. Describe the overall strategy we should adopt to maximize our potential for success. 2. In one sentence write your positioning statement for the product — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — MKT 571 Week 2 Individual Assignment Segmentation Techniques (2 Papers) FOR MORE CLASSES VISIT www.mkt571genius.com This Tutorial contains 2 Papers Go to the Strategic Business Insights website. Take the VALS Survey. Have the results sent to you by email. The results are sent in a Microsoft® Word document showing your primary and secondary VALS segments. Go to the Nielsen website. Explore the Nielsen Segmentation Methodology, the featured and other segments, and then click on Zip Code Lookup. Enter your Zip Code and the code provided and click Enter. A map showing your geographic area will pop up along with information on the distribution of people by age, race/ethnicity, marital status, and presence of children. On the left will be three options: PRIZM, P$CYCLE, and ConneXions (three segmentation techniques based on Zip Codes, Wealth, and Connectivity). Click on PRIZM to view the list of primary segments for your geographic area. Into which of these segments would you place yourself and why? Write a 1,400-word segmentation analysis that includes the following: • Summarize your results. • Summarize what you learned about these segmentation methodologies. • Compare your results showing your buying behaviors with what you know of organizational buying behaviors. • How do consumer behaviors differ from organizational behaviors? • Examine the dimensions of the consumer segments as well as organizational segments. Cite a minimum of two scholarly sources. Format your paper consistent with APA guidelines. Click the Assignment Files tab to submit your assignment. — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — MKT 571 Week 2 Team Assignment What Is A Marketing Plan? (2 Papers) FOR MORE CLASSES VISIT www.mkt571genius.com This Tutorial contains 2 Papers Develop a 1,050-word marketing plan discussion which includes the following: • Discuss what a marketing plan is and is not. • Examine the elements that should be included in a marketing plan. • Examine the importance of a marketing plan. • Discuss how a marketing plan can be applied to a new product launch. • Discuss ways to determine goals, strategies, tactics, and objectives for a new marketing plan. Cite a minimum of three scholarly references in addition to the text. Format the paper consistent with APA guidelines. Click the Assignment Files tab to submit your assignment. — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — MKT 571 Week 3 DQ 1 FOR MORE CLASSES VISIT www.mkt571genius.com What do you think are the most important characteristics/attributes of successful sales people? Discuss BTW Sales is part of the marketing function. — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — MKT 571 Week 3 DQ 2 FOR MORE CLASSES VISIT www.mkt571genius.com You are working at Johnson & Johnson and one of your responsibilities is to set prices for new drugs. The firm has invented a cure for Aids and is protected by patent. The cost for the one time injection that cures the disease is $100 and includes amortization of the development cost (The $1 billion cost to develop the product is included in the $100) and the cost raw materials. Assume that insurance companies currently spend $200,000 to treat an Aids patient. Assume 20% of the world population is covered by insurance or socialized medicine. What price do you charge for the treatment? Defend your answer. Consider all your stakeholders. (Including your stock holders) Hint. You won’t find the answer to this hummer in your text. Also don’t spend too much time trying to quantify your answer. I’m looking more for your top of mind solution to this one. — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — MKT 571 Week 3 Individual Assignment Career Connection: Customer Relationships and Satisfaction (2 Papers) FOR MORE CLASSES VISIT www.mkt571genius.com This Tutorial contains 2 Papers You are a marketing manager for a local company and you are developing a plan to improve customer relationships and increase satisfaction. Select one of the following types of local companies: Florist Veterinarian Health/Natural Food Store Accounting/Tax Preparation Create a 2,100-word Customer Satisfaction Plan in which you include the following: Explain how each type of business might segment the local market based on consumer/business demographic information, behaviors, psychographics (attitudes, interests, and lifestyle), geography, and/or product or service benefits. Support your explanation with documented facts and statistics. Develop a strategy for attracting the target audience to the selected business and explain your reasoning using marketing principles and sound marketing concepts. As part of this strategy, select one of the segments you identified as the main target audience for that business. Develop a strategy for building long-term relationships and strong customer loyalty between the selected business and the target audience using Customer Relationship Management (CRM), personal communications/direct marketing, social media, events, publicity, and/or frequency marketing/rewards ideas. Explain each strategy and its related goal(s). Discuss some of the tactics that could be used to implement the strategy with reasons for selecting each tactic. Discuss at least three potential methods of measuring customer satisfaction and loyalty, with examples of the types of questions that might be explored if a conversation or survey were to be one of your options. Develop one or more messages for initially attracting the target audience and then for maintaining a strong, mutually-beneficial relationship. Cite at least six scholarly references. Format your paper consistent with APA guidelines. Click the Assignment Files tab to submit your assignment. — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — MKT 571 Week 3 Team Assignment New Product Launch Marketing Plan, Part 1 FOR MORE CLASSES VISIT www.mkt571genius.com Create a 1,400-word Product Launch Plan in a Microsoft® Word document. The Product Launch plan will be for two countries. Select your home (domestic) market and another for the international market. Do not select the U.S. and Canada, the U.S. and Britain, or Canada and Britain as your combinations. While the audiences should have the same need for the product or service you come up with, they should have distinctive cultures and habits. Include the following in the Product Launch Plan: • Define the product or service being offered. • Describe the product or service offering. • Assess the market needs for this product or service. • Choose an anticipated target audience and include a description. • Defend your choice of product or service. • Develop a brief SWOT analysis. • Analyze potential or existing competition — either direct or substitution. • Evaluate the potential growth rate. Look for information on similar products or services to come up with a growth rate over three years; this may be adjusted in later revisions. • Develop a 10-question survey instrument including potential answers for closed-ended questions and scalar questions that you will use for the final marketing plan. The questionnaire will be used to collect additional primary data about buyers. Set at least one goal for this survey: o Why is it being conducted? o How will the team benefit from the results in terms of planning and decision making? Leverage opportunities to demonstrate marketing management learning by defining marketing terms and concepts and by using expert testimony and scholarly sources to support your points or definitions. Format your paper consistent with APA guidelines. Click the Assignment Files tab to submit your assignment — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — MKT 571 Week 4 DQ 1 FOR MORE CLASSES VISIT www.mkt571genius.com Let’s assume that our overall objectives for the ReCharge bar is to generate $300 million in year 1 sales and capture the #1 market share position in the U. S market. Describe your Distribution strategy to allow these lofty goals to be accomplished. — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — MKT 571 Week 4 DQ 2 FOR MORE CLASSES VISIT www.mkt571genius.com Let’s assume that The Recharge Bar has been wildly successful and we have achieved all our major objectives in the U. S. market by the end of year three. Should we consider expanding our distribution globally? What are some of the major factors that we need to be aware of and plan for? In other words, what makes marketing on a global basis more difficult than simply distributing our product nationally? — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — MKT 571 Week 4 team Assignment New Product Launch Marketing Plan, Part 2 FOR MORE CLASSES VISIT www.mkt571genius.com Create a 1,400-word Market Segmentation Plan for the New Product/Service Launch Marketing Plan. Include the following for both the domestic and international markets based on the team’s research: • Describe the target market (audience) profiles, key buying behaviors, and decision motivators for the consumer target market. Note: Do not pick different target markets for the domestic and international markets. • Detail the steps involved in a new product/service development. • Discuss the stages of the new product/service life cycle and how to manage each stage. Include tactical plans for the 4 Ps at each stage. • Develop a pricing strategy for the new product or service offering. • Differentiate the new pricing strategy for the practice of setting the price. Why is this an important distinction? • Develop the product offering started in Week 2. Provide the product mix for the new offering including features and benefits, branding, any other products in its line, its differentiating characteristics from competitive or substitute products, packaging and labeling, and warranties and guarantees. • Create a new positioning statement and strategy for the product/service. • Justify the position strategy. Cite a minimum of six scholarly sources. Format your paper consistent with APA guidelines. Click the Assignment Files tab to submit your assignment. — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — MKT 571 Week 5 Career Connection Integrated Marketing Communication and Marketing Mix — Client Pitch (Part 1 and Part 2) FOR MORE CLASSES VISIT www.mkt571genius.com Select a current product or service with which you are familiar. This product will be used to pitch a new integrated marketing communication and marketing mix to a client who is the marketer or producer of the product. Review the current marketing mix including the communication channels used. Part 1 Create a 12-slide presentation including detailed speaker notes that will act as the script of a presentation. Include the following in the presentation: • Evaluate the effectiveness of the existing marketing mix (elements of the 4 Ps). • Recommend a new marketing mix strategy based on any weakness(es) you discovered. • Examine the company’s current positioning strategy. • Determine whether or not to change that strategy. • Identify any considerations to be used when building or maintaining the brand or customer loyalty. • Evaluate the target audience’s use of and belief in the distribution channels and/or communication channels used. Part 2 Create a storyboard, print ad, or a radio or video commercial for the product featuring your new marketing mix. Video or audio options should be 30–60 seconds and storyboards 5–8 slides. Use an app or program such as Movenote®, Knovio®, Presentme®, or another video recording application if selecting the video option. Storyboards can be created using Microsoft® PowerPoint®. Format your presentation consistent with APA guidelines. Click the Assignment Files tab to submit your assignment. — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — MKT 571 Week 5 Career Connection Integrated Marketing Communication and Marketing Mix — Client Pitch (Part 1 Only) (2 PPT) FOR MORE CLASSES VISIT www.mkt571genius.com Select a current product or service with which you are familiar. This product will be used to pitch a new integrated marketing communication and marketing mix to a client who is the marketer or producer of the product. Review the current marketing mix including the communication channels used. Part 1 Create a 12-slide presentation including detailed speaker notes that will act as the script of a presentation. Include the following in the presentation: • Evaluate the effectiveness of the existing marketing mix (elements of the 4 Ps). • Recommend a new marketing mix strategy based on any weakness(es) you discovered. • Examine the company’s current positioning strategy. • Determine whether or not to change that strategy. • Identify any considerations to be used when building or maintaining the brand or customer loyalty. • Evaluate the target audience’s use of and belief in the distribution channels and/or communication channels used. — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — MKT 571 Week 5 DQ 1 FOR MORE CLASSES VISIT www.mkt571genius.com Let’s assume our objective for ReCharge is to deliver $300 million in first year sales and to capture the #1 market share position in the category by the end of our first full year of operation. (BTW. Setting marketing objectives prior to developing strategy is real important) What should our promotional budget be? Why? What methodology did you use to come up with your budget? — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — MKT 571 Week 5 DQ 2 FOR MORE CLASSES VISIT www.mkt571genius.com Instead you’re going to get a chance to get your creative juices going and to hopefully have some fun doing it. Each of you will demonstrate your creative approach to the ReCharge Bar by developing a TV commercial, radio spot or magazine ad. You don’t need to get fancy with the graphics. You can verbally describe what is going on. But write the actual copy for your ad. You will need to restate your target audience and positioning. You won’t be able to max out your points if you forget. (Please, no attachments in the main folder or mega files. If you want to share graphics drop it in the Chatroom.) Step out of the box, (And your comfort zone) and have some fun with it. I think we will have our own award ceremony. We will vote on the best ad. — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — MKT 571 Week 5 Team Assignment New Product Launch Marketing Plan, Part 3 FOR MORE CLASSES VISIT www.mkt571genius.com Develop a 1,400-word Communication Plan including the following: • Discuss the marketing communication channels available for the domestic and international markets. • Evaluate the merits and drawbacks of the channel options in relation to the target audience, your product or service, and the timing of the launch phase. • Select the communication channel that is best for marketing your product or service in the domestic and international markets. • Discuss the reach of each communication channel. Cite at least three scholarly sources. Format your assignment consistent with APA guidelines. Click the Assignment Files tab to submit your assignment. — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — MKT 571 Week 6 Team Assignment Career Connection New Product Launch Marketing Plan — Final Project FOR MORE CLASSES VISIT www.mkt571genius.com Complete the final phase of your New Product Launch Marketing Plan. Consider your product launch to date, reflect on additional learning, and incorporate feedback to the Learning Team’s Marketing Plan for your new product/service. Once all previous weeks’ sections and the remaining parts of the Plan are compiled, it should be no more than 3,500 words. Be sure to include the following: • Create an Executive Summary of no more than 350 words. • Incorporate the Situational Analysis (Week 3). • Incorporate the Market Growth Potential and Competitive Analysis (Week 3). • Incorporate the Pricing, Segmentation, Target Market, and Positioning (Week 4). • Incorporate the Marketing Communications Plan — including media selection, discussion of reach and frequency, and costs (Week 5). • Calculate the financial information (including forecasting demand, break-even analysis, sales, promotional budget, and marketing expenses for three years by quarter). • Develop the intended marketing objectives for Year1, Year2, and Year3. • Project the implementation milestones. • Develop evaluation and control metrics and methodology to measure marketing and product performance. • Develop contingency planning elements for the new product or service offering and any related strategies. • Describe any potential legal or ethical considerations that may arise during the implementation of the New Product Launch Marketing Plan either domestically or internationally. Format your presentation consistent with APA guidelines. Cite a total of at least nine scholarly resources including those from previous weeks. Click the Assignment Files tab to submit your assignment. — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — —