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Trident MKT Module 1 case and SLP

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Question;Module 1 -;Case;Case;Assignment;Select TWO products which you;have recently bought or rented, ONE a High Involvement purchase, and ONE a Low;Involvement purchase, in the following product categories;HIGH;INVOLVEMENT(expensive;or otherwise important): Examples;?;Automobile;?;Home or apartment;?;Jewelry;LOW;INVOLVEMENT(relatively;inexpensive or routine);?;Candy bar;?;Fast food;?;Newspaper or magazine;Excluding the title page, any;appendices or references write a four page paper in which you do the following;First;Page;Applying the teaching;materials, explain why the first product you chose was a High Involvement;purchase and why the second was a Low Involvement purchase. (10%);Using the five stage model of;the Purchase Decision Process in the model of consumer buying behavior;described in Module 1, describe in detail the process you went through in;buying each product. Bear in mind that the purpose of the assignment is to;demonstrate the depth of your understanding of the teaching materials. (20%);Second;Page;Identify and discuss the;differences between the way you went through the purchase decision processes;for the two products. (20%);Third;and Fourth Pages;Assume now that you are a;marketer of both of the two products that you have discussed in the previous;pages. Applying only the teaching materials, (specifically the presentation;Uses of a Model of Buying Behavior"), explain how you might use your;understanding of the Model of Consumer Buying Behavior for the two products.;(Note that the presentation "Uses of a Model of Consumer Buying;Behavior" is relevant to this part of the assignment). (50%);List at the end all of the;references you have cited in the body of the paper.;Note that the weight that will;be assigned in grading to each of the sections of the assignment is indicated;as a percentage after each one.;Ensure that you include on the;title page;?;the name of the university, (Trident University International).;?;the course number, (MKT301);?;the term, (Winter 2012);?;the Module number, (Module One);?;the words inboldabove including both the two sets of;high and low involvement products and the section starting "First;Page" and ending "...of the assignment.;?;the brand names of the two products you chose for each type of;involvement, e.g. "High Involvement: Samsonite luggage, Low Involvement;Del Monte canned fruit;?;your name;?;the name of the professor or instructor to whom the paper is;submitted, (your assigned Professor or Instructor) and;?;the date on which it was written.;IT IS VERY IMPORTANT THAT YOU;INCLUDE ALL THE INFORMATION INDICATED ABOVE.;Assignment Expectations;The notes associated with the;question indicate that, as for other assignments in the course, you should;demonstrate your knowledge and understanding of the taught materials in the;specific context of this assignment. The emphasis in my grading is primarily on;whether you show that you understand what is being taught. In that regard some;relevant concepts and frameworks to demonstrate your understanding of in this;assignment include;?;The difference between goods and services.;?;What is meant by Involvement and why it might be high or low.;?;The stages of the Purchase Decision Process, (PDP) and;?;How a potential buyer might follow this process;?;How the differences between High and Low Involvement affect the;way someone might follow the PDP;?;How marketers might use their understanding of the model of;buying behavior including the PDP to;o Segment;a market, including explaining what is meant by segmentation and why;segmentation can be useful in marketing.;o Influence;purchase probabilities as indicated in the relevant presentation.;Bear in mind that the main goal;of the assignment is for you to use it to demonstrate your learning and;understanding of the background materials. In order to do well in this;assignment you MUST apply and demonstrate your learning from the background;materials.;I know that there's a lot in;Module 1 to cover, but this forms the grounding for the remaining modules, so;once you have conquered this, the rest will be a lot easier.;SLP 1;SLP;Assignments;Have you ever wondered what it;would be like to do something completely different? Well here is an opportunity;for you to combine your wondering with analysis and perhaps to put some flesh;on those dreams.;Your SLP assignment in MKT301;is to develop a marketing strategy for a service business which you will (hypothetically);manage. That is to say, you are to assume that you will be free to start a;one-person business and are to examine yourself, develop a service business;concept (for profit or not - the choice is yours) which you will provide, and;develop a marketing strategy for it. You can assume that this will be a;one-person business consisting of you alone, or that you will employ others.;In doing this project your;fundamental goal is to demonstrate your understanding of and learning about;what is being taught in the course.;Over the session you will;conduct the necessary marketing analysis for your strategy and present this in;your SLP. In each module you will complete a section of the marketing strategy;building on the sections previously completed in prior modules. What you are to;submit in each module is as follows;?;MOD01:Title page, MOD01 section (see below), References;Appendices.;?;MOD02:Title page, MOD01 + MOD02 sections, References;Appendices.;?;MOD03:Title page, MOD01 + MOD02 + MOD03 sections, References;Appendices.;?;MOD04:Title page, MOD01 + MOD02 + MOD03 + MOD04 sections;References & Appendices.;?;MOD05:Title page, MOD01 + MOD02 + MOD03 + MOD04 + MOD05;sections, References & Appendices.;Thus in Module 01 the marketing;strategy paper submitted only consists of the sections indicated below. For;Module 02 the paper will consist of the sections you submitted for Module 01;plus those required for Module 02. For Module 03 it will consists of the prior;sections for Modules 01 and 02 plus the new section for Module 03, and so on.;We expect your learning in this;course to be cumulative and that this will be reflected in the SLP. Thus what;you learn in later sections of the course will build on what has been learnt;earlier, and as you progress through the course you should consider revising;earlier sections of the SLP.;Note that graders are;instructed to grade your work when first submitted, AND TO REVISE THE FINAL;GRADE AWARDED IN THE LIGHT OF IMPROVEMENTS MADE TO THE ENTIRE SLP AS SUBMITTED;IN MODULE 5. THESE GRADES CAN ONLY BE INCREASED, NOT DECREASED.;Thus graders will assign SLP;grades for each module but when grading the complete SLP in MOD05, will also;review the preceding sections and may adjust upwards the Final Course grade to;take account of improvements in the sections for MOD01-04. Note that the final;section of the project allows for you to indicate how your learning from the;project has improved both through your own thinking and via the feedback;provided.;Thus it is to your benefit to;keep under review the earlier sections as your knowledge and understanding;improves and to ensure that at least the final document submitted in MOD05 has;been revised to fully reflect your learning. So that the grader can easily see;where you have revised earlier sections you must draw his or her attention to;these revisions e.g. by using the Track Changes feature of Word.;Excluding your title page and;the prior sections (which you are required to include) each of the parts of;your SLP is to be approximately three pages long. Thus the entire marketing;strategy when completed will be about fifteen pages long, excluding title page;references and any appendices.;You should review the entire;SLP by previewing the requirements of Modules 01 through 05 inclusive when you;start the course. The entire SLP and a presentation providing detailed notes;regarding each section are provided for you in the Background Info section.;These required readings should be studied before starting the project;Provide the following;information;1.NAME, LOCATION & NATURE.;?;Thenameof your prospective (hypothetical);service business and;?;its probablelocation. Note that;you?ll be asked to examine location in more detail in MOD03.;?;A brief description of thenatureof the business, (?body-guard;service?, ?bar?, ?child-care?, etc.). You will expand on this in MOD02.;(Reminder: There are detailed;notes on how to approach each section of the SLP in the Background Information;page).;2.SELF-ANALYSIS.For this you should;?;assess yourskills, abilities and competencies;(strengths as well as weaknesses) and;?;compare these with thedemands of potential markets;and;?;the offerings ofcompetitors.;Ensure that the self-analysis;is relevant to the proposed service and that you make the comparisons.;3. CUSTOMER ANALYSIS.;?;Identifypotential customersyou could serve.;?;Identify thebenefitsthey seek.;?;Describe and label yourmarketand anysegmentsthere are.;?;Estimate thesize;and value of thepotential market.;?;Estimate thesize;abnd value of the (to be)served market.;4.ANALYSIS;OF PRIMARY COMPETITORS;In a table identify the main;competitors and provide a brief summary of how each competes. For example, does;the competitor use low-price, reliability, reputation, high quality or some;other basis for positioning itself in the market?;5. To complete sections 3 and 4;you should do someMARKET RESEARCH, i.e.;talk to people and gather some data to get some relevant information for your;business idea. Briefly explain what you did and indicate thesourcesyou have used.;6. Analyze theMARKETING;ENVIRONMENT. The Marketing Environment is covered in a;Powerpoint presentation provided for MOD01. Excluding any factors which are not;important or which are analyzed in other sections (e.g. competition), analyze;the other major Marketing Environment factors which need to be taken into;account in the development of your marketing strategy, e.g.;?;Political factors;?;Economic factors;?;Social and cultural factors;?;Technological factors;?;Legal or Governmental factors;?;Non-marketing costs (supply purchases and manufacturing);Note that though the sections;above are to be presented individually the analysis which underlies them is;inter-related and you will probably have to think about yourself, the possible;market, and potential and actual competitors at the same time, and to revise;your thinking about them as you progress. Thus for instance for MOD01 you;should expect to spend some time researching and thinking about your skills;the market and the competition together, before you can come to a conclusion;about what service you will offer.;A set of notes giving guidance;on each section of the SLP, and a Word document listing all the sections of the;SLP for all modules are provided on the Background Info page. PLEASE READ BOTH;BEFORE STARTING YOUR PROJECT.;As far as style of writing is;concerned do not write an essay, you will waste a lot of space that way. Three;pages is not a lot so you'll have to decide what you think is important to;include. Use the text inCAPSabove as section headings for each of;the topics indicated and elsewhere use words inboldas;sub-headings. What you write should be organized, succinct, and professional.;SLP Assignment Expectations;It is expected that you will;explain the alternatives you considered and why you decided to make the;recommendations you do.This is very important.;Explaining the reasons for the decisions you have made and the analysis;underlying them is a much more powerful way to demonstrate your learning than;simply stating what those decisions are.;It is also expected that you;will use information from the background readings as well as any good quality;sources you can find to deepen your understanding of the project and cite all;sources and provide a reference list at the end of the paper.;The following will be assessed;in particular;?;Your demonstrated understanding of the concepts used in the;project. Generally formal definitions are not required as understanding can;usually be demonstrated by the way you apply or interpret the concepts.;?;It is expected that you will select appropriate framework s for;analysis from the teaching materials and demonstrate your understanding of them;through your application of them to the project;?;Your ability to conduct marketing analysis appropriate to the;project. Some sections above require simple description, (e.g. name and;location) while others require analysis (the rest). Graders will place more;weight on analysis than description.;The criteria used for;assessment will be those explained on the MOD01 Home page, namely;?;Focus.;?;Breadth.;?;Depth.;?;Critical thinking, including selections and application of;relevant frameworks.;?;Effective and appropriate communication skills.

 

Paper#46969 | Written in 18-Jul-2015

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