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The objective of this assignment is to go beyond theory to provide you with the necessary;tools to use the marketing concepts presented during the week. After completing the;assignment you would have applied the concepts and the metrics to specific situations.;In particular, this assignment will give you an in-depth understanding of;Market Share (Chapter # 3);Value creation (Chapter # 4);Market Segmentation (Chapter # 5);Rubric;Multiple choice questions that require students to show their work will receive 10;points for selecting the correct answer and (0 10) for showing the correct;calculations, for a maximum total score of 20 points for each question.;Open ended question will receive (0- 20) points based on the clarity of the answer;and the relevance of connections between the case study and the concepts covered;in the course.;Instructions;1. Read the mini-case.;2. Answer the multiple choice questions by selecting the correct answer.;3. Show all your work when requested.;4. Submit your assignment by the end of week 1.;Case 1: The Prius;Toyota recently introduced a hybrid automobile named Prius. Since its introduction, this;offering has achieved a 1.2% market share in this market. Toyota has conducted research;in an effort to assess its opportunity for market share development. The table below indic ates consumers current response at each step along the share development path for;Toyotas Prius hybrid automobile as well as Toyotas desired response at each step;2010-2011 Florida International University;Page 1 of 3;Share Performance;Director;Current Response;Desired Response;Product Awareness;0.70;0.80;Product Attractiveness;0.45;0.60;Price Acceptable;0.60;0.80;Product Availability;0.55;0.70;Service Experience;0.60;0.75;1. What is Prius current Market Share Index? Show your work.;a);b);c);d);e);-14%;1.2%;5.9%;6.2%;20.2%;2. What percentage of potential market share performance has Toyota achieved with this;offering, given full effectiveness of its delivered marketing strategy at each step along;the share development path? Show your work.;a);b);c);d);e);6.2%;14%;25%;31.5%;38.75%;3. Even though target customers are aware of this product, customers do not appear to;have a favorable attitude and interest in this product and the benefits it offers. What is;the resulting loss in Priuss potential market share due to this product being seemingly;unattractive to potential customers? Show your work;a);b);c);d);e);1.2%;5.9%;6.2%;15%;20.2%;2010-2011 Florida International University;Page 2 of 3;Case 2;Honda Accord owners are fiercely loyal to their auto of choice. When interviewed by;Honda representatives, the number one reason for this continued brand attraction is solid;engineering that allows the Accord to operate trouble-free for more miles than the average;car. In fact, reliability was rated as the most important perceived product benefit for auto mobiles, with a relative importance weight of 40. The Accord rated an 8 out of 10 on this;measure, while three other competitors studied had a rating of 7, 6 and 5, respectively.;Furthermore, a Consumer Reports study of mid-size sedans rated the Accord 95 in per formance tests, at a customer price of $22,000. The average performance of all mid-size;sedans tested by Consumer Reports was 80, and the average price was $20,000.;4. What is the Accords approximate relative value against the other sedans tested?;Show your work.;a) 9;b) 27;c) 110;d) 119;e) 229;Case 3;Charles Schwab is a consumer financial services company and wants to segment the mar ket to better serve its customers and prospective customers. This market could be seg mented on the basis of differences in income, education and age, as well as differences in;amount invested, frequency of transactions and type of investments purchased.;Insight gained from Schwabs market segmentation process revealed a group of custom ers that are willing to pay more for extra benefits. They learned that there was incremental;value for both the customers and the company when customers were allowed to build their;portfolio of financial services around their needs and Schwab delivers it to their specifica tions.;5. Which segmentation strategy would you recommend? And Why?;2010-2011 Florida International University;Page 3 of 3


Paper#32134 | Written in 18-Jul-2015

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