Unit 4 AS#1 Perceptual Marketing
Evaluate the differences between the generational age groups and how marketing to them would need to be different.
1. Find three examples of commercials that market specifically to one age group over another. Make sure to explain the three commercials and how each one applies to the targeted generation. Use YouTube or the companies’ websites to reference where you got the commercials and information.
2. Once you have completed part one, look at the positioning of the products in the market. How would you propose the company position or reposition the products in the market to attract a new or different generation? Hint: Creating a perceptual map is the easiest way to show your understanding of this concept. Make sure you also explain your chart.
Unit 4 AS#2 Adopter Categories
When companies innovate new products, consumers follow a pattern of when they adopt the new product into their lives.
1. Use the Categories of Adopters chart to help you define each category and provide an example of a person buying a product for each.
2. Once you have defined and understand each category, explain how you fit into the chart, providing examples of when you bought certain products and how that made you fit into a specific category.
3. Lastly, pick a product that you purchased and then explain how a company could augment the product or the marketing to speed up your category position, so you would adopt the product even faster.
Unit 5 AS#1 Brand Management
Congratulations, you have just been hired as a Brand Manager for one of the following companies (Pepsico, Mars, Kraft, Proctor & Gamble, Nestle, or Unilever) Pick One.
As the brand manager, you now have to determine where to invest $10 million dollars and in which brand. You must present your idea to the CEO and President of the company so make sure your ideas are clear and well explained as losing money on this investment could mean losing your job.
1. Explain your strategy to invest the $10 million dollars, you can think outside of the box or not. Your grade is based on how well you present the idea, not if the idea has any validity.
2. Explain why the Return on Investment will be in the market, discussing consumer trends for products. (some academic research is highly recommended to complete this assignment)
3. Lastly, how will your investment impact the other brands in the portfolio of the company. Make sure to look up all of the products that the company produces in the category you select to invest in as well as the other categories of products that each company makes.
Unit 5 AS#2 Price Discrimination
When many people hear the word discrimination, they immediately think of race or gender discrimination which is illegal in the USA. Price discrimination, however, is legal and has nothing to do with race or gender. By definition: Charging different people different prices is legal as long as it does not use other forms of discrimination as the basis of the pricing model. Please note that prices must be made available for all to see and no two individuals making a purchase at the same time and same place are charged different prices unless qualifying criteria are met.
1. Describe a business that uses price discrimination, the pricing model, and how it is not considered illegal (meaning how it is legal to do).
2. Are there situations in which price discrimination is unfair and should be considered illegal (remember to not confuse the word discrimination with price discrimination.
3. Lastly, evaluate the profitability of using different prices for different people. That would mean that some people are paying more, while others are paying less. This would suggest less profits, so why not just charge everyone the same high price??? Explain your understanding of how price discrimination works to maximize profits for the business.
Unit 6 AS#1 Financial Impact of Marketing
Companies spend millions, if not billions of dollars on marketing every year. Pick a company that does significant marketing and is a public company. You will need to look up the company’s annual report to find the total amount spent on marketing for the last calendar year (20XX).
1. Once you find the information from the company’s website and annual report, explain the number and what the company reported spending the money on.
2. Do some mathematical comparisons, total revenue as compared to marketing budget, total liability as compared to marketing budget to determine the percentages the company plans to spend just on marketing.
3. ROI (Return on Investment) is also a calculation that can be conducted. Assume that any gain from the year prior to your current year selected is due to increased investment, what would be the percentage ROI that the company achieved by this increased investment. (estimated numbers are okay, as long as you show your work, calculations, and explain your answers.
Unit 6 AS#2 Just-In-Time
Consumers are demanding their products faster, delivered to their door, and even if I need it today, I want it delivered today. Companies are struggling to keep up with this demand as transportation and delivery are extra costs that the company wants to minimize.
1. Explain how companies are using Point-of-Sale systems and perpetual inventory control systems to expedite the shipping of products.
2. With JIT, companies are also getting raw material deliveries just when they need the new inventory to manufacture and produce new products for shipping. This has greatly cut down on maintaining large inventory costs and provides greater expectations of less waste of products from spoilage or other inventory issues. Explain how a new business could implement JIT to reduce costs and improve logistics to reduce the time to get the products to the customers.
3. Lastly, with digital wallets and one-click shopping, explain how companies can maintain limited inventory while still supplying numerous orders in an unplanned manner. Explain any issues you foresee coming from this issue.
Unit 7 AS#1 Developing an Advertising Campaign
Use the steps outlined in the text to develop an advertising campaign for a company of your choice and a newly innovative product you want to release to the public.
1. Be creative and think of an idea of how to get your product known in as many markets as you can with as little money as you have to spend for the campaign.
2. Describe the 6 steps in detail and how your campaign will generate more consumer knowledge and word of mouth.
3. Lastly, look at the chart of creative elements of advertising and select three that describes your approach the best. Explain how using these creative elements will provide a positive perspective of the product and the company.
Unit 7 AS#2 Personal Selling
Congratulations, you were just hired as a salesperson. The biggest challenge for a salesperson is closing the deal with customers.
1. Pretend you are trying to sell a product to me, Your Professor. Write a script for how you would sell the product, explaining how it works, the benefits to me, and any cost that may be incurred from making the purchase.
2. Once you have your script, highlight your closing points, having at least three options of wording to close me on the product deal. A. I want it but not sure, B. I am on the fence, C. I do not really need it, but if you can sell me on it, I might just by it.
3. Lastly, describe how you can use social media or public relations advertising to convince me that I should by the product. Explain why these points would create a more attractive purchase option for me.