Describe what a marketing is with a successful story of marketing or with a failed story of marketing.
Tag: Marketing Management
Marketing Management
1. Explain customer-perceived value.
2. Explain total customer satisfaction.
3. What valuable functions can brands perform for a firm?
4. Given that the power of a brand resides in the minds of consumers and how it changes their response to marketing, there are two basic approaches to measuring brand equity. Briefly, describe each of these approaches.
5. Incorporating the concepts discussed in this assignment, answer the following: How does a loyal brand community support the positioning and branding of a small business? Provide an example to support your explanation.
Marketing Management
What did you learn from your job that can be applied to your MBA?
Identify the two courses currently taken: 1) Advanced Analytics for Business; 2) Marketing Management
Provide the title of the position at work – Environmental Engineering Consultant
Describe work-related responsibilities – Assess environmental impact based on data analysis and design remedial measures for contamination
Relate your current MBA courses to their present work and/or your future career goals
Marketing Management
What did you learn from your job that can be applied to your MBA?
Identify the two courses currently taken: 1) Advanced Analytics for Business; 2) Marketing Management
Provide the title of the position at work – Environmental Engineering Consultant
Describe work-related responsibilities – Assess environmental impact based on data analysis and design remedial measures for contamination
Relate your current MBA courses to their present work and/or your future career goals
Marketing Management
These exercises are to gain more practice with some of the basic metrics that are used in marketing management. Understanding how to calculate these metrics is helpful as they form the basis of many managerial and company decisions. Therefore, in addition to the math, some questions also have inferences to be made based on the metrics. Most of these exercises are based on actual examples and formulae for which we have covered the math in our course content, either during the chapter content or during the case content. If you are unsure how to proceed, please check with me, and I am more than happy to help in whatever way I can.
(1) Assume that you are the brand manager for Apple’s iPhone 12. Estimate annual US market potential, annual US market demand, and annual US company demand in 2021. Use the “Funnel” method to estimate the number of buyers. Clearly list and justify all other assumptions; e.g., how you are defining your market, number of units purchased by average buyer, etc. (1.5 points)
(2) Use the Chain-Ratio method to estimate annual US market demand in 2021 for Coke soda. Clearly list and justify all assumptions. (1 point)
Questions 3 to 6 are based on the common scenario in Question 3, so price and cost information can be shared across these questions as appropriate.
(3) Macrohard Corporation is a new business based out of Puerto Rico that is considering a plan to manufacture and market cellphones in Peurto Rico starting in 2021. However, before it decides to take the plunge, it needs to understand the feasibility of breaking even. Macrohard is planning to sell the cellphones to wholesalers at $25. The electronic circuitry costs $7.50, CORNING supplies the screen for $3.75, and the battery costs $1.25. Additionally, the cost of a fabrication facility is $8.5 million, and Macrohard estimates that it will need to spend $2 million on sales and marketing expenses in order to achieve its objectives, and $2 million on general and administrative expenses. Calculate the break-even volume, and explain how feasible it is for Macrohard to break even. (1 point)
(4) When wholesalers sell to retailers, in order to ensure suitable margins, they typically add a 10% markup to the price at which they buy cellphones from Macrohard. Additionally, when retailers sell to consumers, to ensure their own margins, they typically add a 15% markup to the price at which they buy cellphones from wholesalers. What is the price that wholesalers charge retailers, and what is the price that retailers charge consumers? (.5 point)
(5) Now assume that Macrohard has started its operations and is doing fairly well. However, based on some market research about economic demand curves and price sensitivity, Macrohard is considering lowering its price to $20. What is the incremental break-even volume as a percentage of the old no. of units? Explain whether or not this incremental level of sales appears feasible. Hint: Gross Margin % is the same as Unit Margin %. (1 point)
(6) Macrohard has commissioned some more market research to understand how consumers make their buying decisions, with specific focus on how consumers evaluate alternatives. Create an expectancy-value model that depicts three cellphone brands (including Macrohard), their average ratings across consumers on three attributes that are relevant to consumers’ buying decisions for cellphones, the average importance weights for the three attributes across consumers, and the overall evaluation for each brand. Clearly list and justify all assumptions. Does this decision appear to follow a compensatory or non-compensatory model? Based on your conclusion about a compensatory or non-compensatory model, which brand is the average consumer likely to choose and why? (1.25 points)
(7) Nike estimates that it can persuade Ms. Consumer in 2020 to start purchasing Nike shoes in 2021, and to continue purchasing Nike shoes in 2022 and 2023 before switching to Adidas. The likelihood of purchase is expected to decrease by 10% each year starting in 2022. Marketing expenses in 2020 to get her to start using Nike shoes in 2021 are estimated at $50, and she is expected to spend $100 on a pair of Nike shoes each year from 2021, with the variable costs for each pair of shoes being $50 each year. Using a discount rate of 10%, what is her CLV to Nike, assuming the calculations are done in 2020? (1.25 points)
(8) As you might be aware, Seattle University recently entered the online graduate business programs industry with an online MBA offering and an online MSBA (M. S. in Business Analytics) offering. Use an appropriate scorecard to evaluate the brand extendibility of Seattle University’s pre-online-offering brand into the online graduate business programs industry. Clearly list and justify all assumptions. Based on your analysis, explain whether you would recommend a sub-brand strategy for branding or some other strategy. If some other strategy, which strategy would that be? (1 point)
(9) Use the principles of new-product adoption to estimate the annual number of regional buyers in 2023 for hyper-loop rides between Seattle and Portland (both directions). Clearly list and justify all assumptions; e.g., how you are defining your market, etc. Based on your estimate, explain whether this market appears worthwhile or not. (1 point)
(10) Professionalism, including adhering to the submission guidelines (.5 point).
1) Show and explain all calculations and formulae that you are doing/using.
2) Provide in-depth explanations and justifications, especially for any assumptions.
3) Answer all parts of the question, and provide specific responses to the questions asked.
Marketing Management
Reflection and Discussion Forum Week 3
Reflection and Discussion Forum Week 3Assigned Readings:Chapter 6. Products: Goods and Services.Chapter 7. Brands.Chapter 8. New Products and Innovation.Initial Postings: Read and reflect on the assigned readings for the week. Then post what you thought was the most important concept(s), method(s), term(s), and/or any other thing that you felt was worthy of your understanding in each assigned textbook chapter.Your initial post should be based upon the assigned reading for the week, so the textbook should be a source listed in your reference section and cited within the body of the text. Other sources are not required but feel free to use them if they aid in your discussion.Also, provide a graduate-level response to each of the following questions:
Read the methodology of Interbrand.com for brand valuations. How might you improve their methods and the sorts of measures they use to assess brand equity?
Consider the trends described in the chapter (e.g., aging, heightening environmental concern, or China). How will each affect the business you are in (or were in before coming to b-school)?
Make a list of 3 of your favorite brands. What would be a great brand-, or line-extension that you would like to see developed as a new product?
[Your post must be substantive and demonstrate insight gained from the course material. Postings must be in the student’s own words – do not provide quotes!] [Your initial post should be at least 450+ words and in APA format (including Times New Roman with font size 12 and double spaced). Post the actual body of your paper in the discussion thread then attach a Word version of the paper for APA review]
Activity 3 – Marketing Project Proposal
The group will write-up their proposed idea for their Marketing Plan in a 3 – 5 paged paper that will be submitted at the end of the day. The purpose of the Proposal to ensure that the group is on the right path of success to complete the project. The group will work on their idea and tentative supplemental pieces for the plan. The final plan will be submitted at the end of the semester. This tells you some of the parameters you need to meet for the Marketing Plan. The following are other pieces you need to ensure you include:
What is the PRODUCT you wish to introduce?
What are the PRICES you want to charge and/or the including a discussion of what the profit looks like you intend to make
What PROMOTIONS do you intend to use to get your Marketing message across to your target market?
What PLACE/DISTRIBUTION methods do you intend to use to get your product to the masses?
Who is the target market? Why?
What specific methods of distribution do you want to use? Do you want to have a storefront? Online presence? Both? Direct Sales?
Depending on the International City/Country you plan to target, why did you pick that area for that particular product? Why that target market?
Where do you plan to be headquartered?
Marketing Management
1. You are the Recruiting team for a large department store. You receive requests to hire four new employees for the store. One will sell shoes, one will manage the toy department, one will work in the stockroom and one will lead your customer service department.
Identify the basic characteristics you want in each of the people to achieve a good person–job fit. What other qualifications and traits would you want for each hire?
2. Identify a quote from a reputable figure. Share the quote and then in a paragraph or more if necessary, describe why the quote resonates with you. Why did you choose it and why does it inspire you? In our last class I will share some of them and ask some of you to discuss your quotes.
Marketing Management
Why is Marketing Management Important?
What are sections of the Marketing Framework?