Marketing Homework Help

Hershey recently created a line of upscale chocolates called “Cacao Reserve by Hershey’s.” The company created fancy packaging, priced the product at the high end and did little mass marketing for its

Hershey recently created a line of upscale chocolates called “Cacao Reserve by Hershey’s.” The company created fancy packaging, priced the product at the high end and did little mass marketing for its new product. Initial sales were disappointingly slow even though the premium chocolate market is growing nicely with brands like Ghirardelli fairing well. As a consequence, Hershey almost immediately (within six months) dropped its prices and started mass advertising. Using concepts in the chapter, why do you think Hershey failed in the move into the premium chocolate market? Do you think the adjustments were the most appropriate, or could Hershey have taken other steps?

2 pages

 
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Samsung cell phones (highly competitive market, includes product/service components) Directions Refer to the product or service you selected at the beginning of the semester Samsung cell phones (highl

Samsung cell phones (highly competitive market, includes product/service components)

Directions

  • Refer to the product or service you selected at the beginning of the semester Samsung cell phones (highly competitive market, includes product/service components). This week, you want to take a closer look at what consumer factors may be relevant for customers who are considering buying your product or service offering.  This will require some critical thinking on your part based on your own behavior if you are a customer yourself, or you may want to talk to others who have purchased the product.  Sometimes you can find clues when looking at the marketing messages that may be addressing some of these factors.
  • So far, you have only been considering the customers of your product or service as one big group, or a mass market.  More astute marketing breaks down this large group into smaller market segments of consumers who have similar characteristics.  For any specific product or service, there could be numerous market segments.  However, company resources may only allow a company to pursue one or two or these market segments, which then become target market(s).  In this paper, you should divide the mass market for your product or service into at least two market segments and then pick one target market you think would have the most potential for future growth.
  • Think outside your own box.  Chances are you picked a product with which you are familiar. That is a good starting point, and you may represent one target market.  But you may represent a target market that is saturated and therefore not the best target market to pick for the remainder of the semester.  So be sure your second target market is different enough and represents growth potential.
  • If you did not do a thorough analysis of the competition in the prior writing assignment, you may need to go back and figure out the nature of the product’s or service’s competition.  This will be important when you address the positioning of your product for your newly identified target market inasmuch as positioning is a competition-based concept.
  • We understand you are not an employee of the company and do not have access to the insider data that you feel will allow you to discuss the questions to the degree you would like.  Take your best educated and reasoned guesses whenever you need to do so.
  • Your job will be to critically examine all of the segmentation bases and arrive at your own description of potential market segments for your product or service.
  • You may want to visit this resource for more information on how to construct a perceptual map
  • Prepare your assignment beginning with a title page with your name and the name of your product or service.  Then answer each of the following questions (two in part 1 and two in part 2) in order and number the beginning of your response to each question.  Do not repeat the question.  Do use headings to separate the sections.

Part 1

  1. Consumer decision-making process.  Go through the six steps of the purchase process outlined in the readings and identify where marketing can influence each of the six steps.   For example, if a consumer just identified a need for your product in step one, then the company can advertise how your product fills that need.  Or, if a consumer purchased your product, the consumer can be called and asked about their satisfaction with the product and if there is any dissatisfaction steps can be taken to ensure the customer satisfaction.  Be sure to be more specific with respect to your product or service than this example.
  2. Segmentation.  Using the various criteria of the segmentation bases described in the week’s readings and in Table 4.1, identify at least two distinct market segments for your product or service.  Each market segment description must include at least three (more if needed) of the characteristics from amongst any of the four bases categories, e.g. one from demographic variables, one or two from psychographic variables, and one from behavioral variables, or a similar scheme.  Be sure to explain your choices based on what customer need the product or service offering can fill for each segment

Part 2

  1. Target market & strategy.  Select one of the market segments you described in your segmentation response as the one you believe is or can be the most profitable for your product or service offering and explain why you feel they can represent growth for the company.  Refer to the six criteria for an attractive market segment as described in course content under ‘Selecting Target Markets’.  Name your target market so you can use this name throughout all of your remaining writing assignments.  Your name should be descriptive of the segments’ characteristics like ‘savvy young shoppers’ or ‘educated baby boomers’, or ‘urban hipsters’, or the like.  The goal is for your faculty member to get a mental image of your target market for the remainder of the semester. Should the company focus all their resources on this new target market (concentrated marketing) or should they continue to pursue both the new and the existing target market as well as other market segments (multi-segment marketing)?  Alternatively, is the market so saturated might they be more successful by focusing solely on an even more narrow market segment, perhaps an even narrower version (niche marketing) of your selected target market, as their best chance for growth?  What is your reasoning?
  2. Positioning.  Draw yourself a perceptual map as illustrated in the week’s readings or the website in the directions. Be sure to pick two criteria that are important to your new target market for your two axes, perhaps two of the criteria you used in Week 1 in your competitive analysis.  Map at least the two major competitors you noted in the previous writing assignment and add any others that you may have discovered since then.  Describe what the perceptual map is telling you regarding how each product is perceived in the minds of the new target market you described above.  You may have to make a series of educated guesses for some of the data points.  Ideally, you want to find uncontested space. If your product overlaps with a competing offering discuss whether or not your product or service should try for an ‘uncontested’ space on the map and ‘reposition’ itself; or if it should keep the same position and compete head on with the other produc
 
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Marketing Homework Help

Scenario 1: You are the marketing manager for the firm of your choice responsible for developing the tactical and strategic marketing plan. You are also responsible for the successful implementation a

Scenario 1: You are the marketing manager for the firm of your choice responsible for developing the tactical and strategic marketing plan. You are also responsible for the successful implementation and evaluation of the plan and have full P&L responsibility for your product/service line.

Scenario 2: You are the owner of a small to mid-sized business. You are currently developing your marketing plan for the upcoming year. The marketing plan will include both the tactical and strategic plan elements. You will also discuss the implementation and evaluation of the strategic marketing plan.

In this paper you will answer the following:

  • Summarize your selected scenario and details about the firm and/or product line.
  • Assess which of Michael Porter’s basic strategies you will use to market this product and why.
  • As you know from your reading, consumers have different product needs and use products differently. Segmentation seeks to group different demands and needs into clusters with similar demand patterns. Using the dimensions of market segmentation, determine and defend which markets you will target with your marketing plan. Outline your target market in detail.
  • Justify the stages in the consumer decision making process for your selected product or service. Be sure to discuss how consumers evaluate alternatives and what mediums they use in the information search stage.
  • Conduct research to determine where improvements should be made to your product or service line. Discuss these improvements and the estimated cost in developing and launching these enhancements. This could be a product line extension, a service improvement, new packaging, Web site enhancements, etc. The purpose of this element of the marketing plan is continuous improvement. You should justify the need of these enhancements based on your research, such as a review of the competition, feedback from customers, or a review of the marketing environment.

Submission Details:

  • Submit your answers in a 6- to 9-page, excluding title and references Microsoft Word document, using APA style.
 
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Corporate strategy is an assessment of how well management reacts to its business environment. There are five stages to corporate strategy according to Thompson, Strickland & Gamble (2019). These are

Corporate strategy is an assessment of how well management reacts to its business environment.There are five stages to corporate strategy according to Thompson, Strickland & Gamble (2019). These are developing a vision, setting objectives, crafting a strategy, executing the strategy, and monitoring and making adjustments along the way. “top management’s views about the company’s long-term direction and what product-market-customer business mix seems optimal for the road ahead constitute a strategic vision for the company” (Thompson, Strickland & Gamble, 2019, p.23).Once the vision of the company is set, objectives on how to reach to vision are put together, followed by creating a strategy to meet the objectives. After a strategy is conceived, it must be executed from top to bottom. This is where all the noise comes. At the lower levels, there are many forces pushing and pulling the company one way or another. Because of this, the company must monitor their course and adjust along the way.Corporate strategy is not a one-time effort, it is an ongoing process. The analogy of a ship is often used, and it fits perfectly. A ship may have a vision to go from Europe to New York, but along the way, the tides shift, and storms may alter to course, which means the captain must make corrections along the way to realize the vision or goal. 

Just some comments about this post please.

 
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Marketing Homework Help

Paper & Power Point Paper Choose a Fortune 500 organization WALMART Conduct research and write an 8-10 page paper addressing each of the topics/questions below. Use the topics as headings to for

Paper & Power Point

Paper

Choose a Fortune 500 organization   WALMART

Conduct research and write an 8-10 page paper addressing each of the topics/questions below.

Use the topics as headings to format the paper

The cover sheet, illustrations, pictures, long or multiple quotations will not count toward the 8-10 page requirement

At least 1 reference of an academic or scholarly source is required for this team paper.

You are expected to use academic sources such as FSCJ’s Library and Learning Commons peer-reviewed database or Internet sources, such as: “.org”, “.edu”, “.mil”, “.gov.”

Sources not allowed are Wikipedia, Dictionaries, wikis, or blogs. 

Use APA writing style for in-text citations and each reference source that you use. Remember, all wording that is not your own must be cited. For APA writing assistance refer to Student Resources under the “Start Here Module”

Limit the use of direct quotes. Direct quotes should not exceed ½ page in total. Deductions will result if this rule is violated.

Use 12-point Times New Roman font, 1-inch margins, and double-spacing. 

The cover sheet should include team member’s names, name of company, and course information

Project Topics & Questions

  • Brief organizational history 
  • Current performance and strategic posture
  • Describe the Opportunities and Threats of the External Environment
  • Describe the Strengths and Weaknesses of the Internal Environment
  • Analyze the strategic factors of the organization
  • What are the organization’s staffing practices?
  • What types of marketing strategies are effective?
  • How does technology impact the business?
  • Where does the organization rate in the market?
  • Recommendations for improvements to increase market share
  • Is the organization operating in an ethical manner?

The project topics/questions above are minimum requirements for the team project. If the minimum requirements are met, further analysis can be conducted and the paper can exceed the maximum 10-page limit, but it cannot be less than 8 pages.

PowerPoint Presentation 

Develop a 10–15 PowerPoint slide presentation with speaker notes. The purpose of the PowerPoint is to highlight specific points from your research as if the team were presenting this information to executive management. Executive management does want to know about other competitors to make decisions on what would be the appropriate direction for the organization.

 
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Read the case study indicated below, and answer the following questions: James, M. L. (2010). Accounting for business combinations and the convergence of International Financial Reporting Standards wi

Read the case study indicated below, and answer the following questions:

James, M. L. (2010). Accounting for business combinations and the convergence of International Financial Reporting Standards with U.S. Generally Accepted Accounting Principles: A case study. Journal of the International Academy for Case Studies, 16(1), 95-108.

1.       What key financial ratios will be affected by the adoption of FAS 141R and FAS 160? What will be the likely effect?

2.       Could any of the recent and forthcoming changes affect the company’s acquisition strategies and potentially its growth?

3.       What were FASB’s primary reasons for issuing FAS 141R and FAS 160?

4.       What are qualifying SPEs? Do they exist under IFRS? What is the effect of FAS 166 eliminating the concept of qualifying SPEs on the convergence of accounting standards?

5.       If the company adopts IFRS, what changes should management be aware of?

6.       What are the principle differences between IFRS and U.S. GAAP?

Your submission should be a minimum of three pages in length in APA style; however, a title page, a running head, and an abstract are not required. Be sure to cite and reference all quoted or paraphrased material appropriately in APA style.

 
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