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Saint Leo University MKT301 Midterm




Question;MKT301;Midterm;Instructions;Read the scenario below carefully. Your answers;to the five (5) short essay questions below must apply specifically to the firm;and situation described in the scenario. Answer each of the questions fully;yet concisely, being sure to avoid fluff and irrelevant information. You may;use charts, graphs, and other display elements if you wish. Grammar and;spelling will count ? there will be a one (1) point deduction for each error.;You may use outside sources if you wish?however, you must cite them and no more;than approximately 15 percent of your answer may be from a third party ? use;your OWN words for most of your answer. Be sure to use examples when asked to;do so..;1.Scenario B;The;marketing consulting firm which you manage has been contacted by Prepared;Students of America to help them develop their marketing plan. The firm has;explained to you that the major reason for freshman college students to;drop out is not academics but rather social and personal issues, such as;poor time management skills and homesickness. The firm has developed a;series of Web-based courses to help new college students make the;adjustment to college life. Some of the courses include time management;test taking skills, coping with roommates, money management and social;skills.;The;courses are developed with 17-19 years old students in mind, however, the;major audiences for sales are parents and grandparents. The firm also hopes;to form relationships with organizations such as the PTA.;About;the firm;?;Privately owned;?;Very progressive and innovative;?;Small staff of about 12 people;?;Very casual and creative environment;?;Well-funded but frugal;?;Manic about quality;?;Believes they are "on a mission;?;This is their only product;?;Only about 1 year in business;?;Have yet to release a product;About;their marketing;?;Little to no market plan;?;No brand or positioning yet;?;The firm likes grassroots type marketing;?;Very Internet savvy;?;This is a blank slate - the firm is open to new and innovative ideas;In;your report, list each of the 4P's and provide a brief definition of each;of the four. (10 points);Give a specific example of each of the 4Ps that you believe appropriate for;the company's marketing plan based on the scenario above. (10 points);Remember that your clients may know nothing about the 4P's, so be very;precise in your report. They need you to be very specific so that they;understand the principles of marketing you are describing.;(Points: 20);2.Part of your;report is a SWOT analysis. List each of the four parts of a SWOT and define;or describe each of the four elements, including if they are internal or;external to the firm. (10 points);List two factors for your client's firm or product for EACH of the four;categories (eight total items). Be sure to clearly label your answer so;that your clients understand which factors go with which category. (10;points) (Points: 20);3.Define the terms;FEATURE and BENEFIT. Be sure to include the distinction between the two and;why they are important to marketing and/or sales. (10 points);List five features of your client's product and ONE benefit for each of the;features that would cause consumers to be excited about the product. (2;points each for a total of 10 points);Some things you should consider include the needs of the typical customer;for a product such as yours and what attributes it has that the competition;might lack. Points will be awarded for making a clear distinction between;the FEATURE and the BENEFIT that the consumer derives from that feature;thus you should describe the BENEFIT thoroughly. (Points: 20);4.;Since;you have studied Integrated Marketing Communications (think of the;introductory material in Week 1), also known as the Promotional Mix, you;know that you and your clients have several components to choose from when;developing your promotional plan. However, your clients are not;familiar with them and probably are only aware of the conventional methods;such as advertising in traditional media.;Select;TWO (2) of the major types of Integrated marketing Communications.;Write a 2 - 3 sentence definition for each of the two you have selected.;(10 points);For each of the two provide a specific and precise example for the firm in;the scenario above. (10 points) Be sure to explain them clearly and in;detail. After reading your report, your client should understand exactly;how you propose to spend the firm's IMC dollars.;(Points: 20);5.Based on what you;have learned about your client's culture, you believe that social policy of;corporate responsibility and marketing ethics is more appropriate for the;firm. Write a one paragraph memo to the CEO explaining why you are making;this recommendation, including a 2 -3 sentence definition of corporate;social responsibility. (6 points) Be sure to include a bulleted list of at;least four (4) types of stakeholders you believe to be important to the;firm. (4 points) You may wish to consider what you know about mission;statements.;Finally, recommend a specific activity that would support both the social;policy of ethics for the firm and at least two of the stakeholders. Be very;specific in your suggestion so the CEO can plan accordingly. HINT -;consider things that firms in your area do to serve the community. (10;points) (Points: 20)


Paper#47396 | Written in 18-Jul-2015

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