Marketing Concepts Assignment

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timer Asked: Feb 15th, 2019
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The guideline has been uploaded. Please follow it and write the answer. It should be 1.5 line-spacing and approx. 2600 words in total.

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Assignment 2: Understanding Customers’ Value Needs

Introduction

Assignments have been designed to help you integrate and apply the marketing concepts, terms, and information you have learned up to this point. These concepts provide a foundation on which other course concepts are built. Assessing your comprehension will help ensure that you are on track to successfully complete the course. This assignment is worth 20% of your final grade in the course.

2.1: Market Research Concepts (20 marks)

Suggested time: 2.5 hours

Length: Please write your response in essay format and limit your response to 2 pages using 1.5 line-spacing. If you need to include a table, attach it as an exhibit or appendix and summarize your findings in the body of the assignment.

Final Mark: This assignment is worth 20% of your final mark.

Assessment: This part of the assignment will be assessed using the following criteria:


Demonstration of ability to navigate the Statistics Canada website to retrieve the requested information.


Critical assessment (advantages and disadvantages) of the use of Statistics Canada data for market segmentation and strategy development.

Statistics Canada is a key source of secondary data in Canada, particularly for basic demographic information on Canadian cities and regions. Using both Statistics Canada data (http://www.statcan.gc.ca) and any other data you can find on the Internet, develop a report on a Canadian city of your choice that answers these questions:


What is the total population of the city? (2 points)


Using means (averages), frequencies (number of people), and percentages provided by Statistics Canada describe: (8 points)


The population of the city in terms of age, income, education, ethnic background, marital status, occupation, and housing


The demographic characteristics of the entire Canadian population


The most significant thing you learned from this exercise


Review all of the information provided on the Statistics Canada website. For marketers seeking to develop market segment profiles or marketing strategy, what are four advantages and four disadvantages of using this data, from a marketing perspective? (10 points)

2.2: Consumer and Organizational Buying Behaviour (20 marks)

Suggested time: 2 to 3 hours

Length: Please write your response in essay format and in point form as appropriate and limit your response to 2 pages using 1.5 line-spacing.

Assessment: This part of the assignment will be assessed using the following criteria:


The extent to which the answer provides comparison and contrasts and is able to illustrate how the model applied or did not apply in this situation.


Depth of insight with respect to the implications for sales and marketing.

In this module, you learned that consumers and organizations go through a progression of steps as they make purchase decisions.


Describe your decision process for each step in the consumer decision-making process when deciding to purchase an Apple iPad (http://www.apple.com) (5 points)


How does your consumer decision-making process for an Apple iPad compare with the model illustrated in Figure 5.5 in the textbook on page 164? (5 points)


With respect to Figure 2.1, the FCB Grid discussed earlier in this module, what type of decision is your decision to purchase an Apple iPad? Explain why your decision is a high/low involvement and a think/feel decision? (5 points)


Assuming the consumer decision-making process is typical and that competition in the tablet market continues to increase, what are five sales and marketing implications for Apple to increase their chance of success in selling to a consumer like you? (5 points)

2.3: Mega Bloks— Segmentation and Positioning (45 marks)

Suggested time: 4 to 6 hours

Length: Please write your response in essay and/or point form as appropriate and limit your response to 3–4 pages using 1.5 line-spacing.

Assessment: This part of the assignment will be assessed using the following criteria:


Strategic marketing insight of the SWOT Analysis


Level of detail in the target market segment profiles


Depth of rationale and use of marketing concepts, terms, and information to support conclusions or recommendations

Refer to Assignment 1.2 SWOT Analysis for Mega Bloks. Reread the Marketing in Action Case, “Real Choices at Mega Bloks” in Chapter 2 on pages 83–84 in your textbook and review the organization’s website at http://www.megabloks.com to learn more about the company.


Review the SWOT Analysis and four most important factors and their rationale facing this organization from your first assignment. Include both in this assignment. (0 points (used for reference only))


Decide on a segmentation approach for this market. Identify at least three target market segments in this market that fit this segmentation approach. Justify (from a marketing perspective) why this segmentation approach is a good one. (10 points)


Develop detailed target market profiles for these three target market segments using your own experience, secondary research, and exploratory research methods (interviews with customers and/or direct observation). Ensure you apply consumer or organizational buying behaviour concepts and terms in the profile development. (15 points)


Make a recommendation for the selection of a primary target market segment (target audience) you think this organization should target. Provide rationale as to why this target market segment should be the primary target market segment. (5 points)


Determine a positioning strategy for the organization for your primary target market segment. Provide two reasons, from a marketing perspective, why this positioning is appropriate for your target audience. (5 points)


Describe, from a marketing perspective, what allows this organization to defend this positioning or what competencies would need to be developed. (5 points)


Draw a positioning map to illustrate your positioning strategy. (5 points)

2.4 Customer Relationship Management (10 marks)

Suggested time: 1 hour

Length: Please write your response in essay format and limit your response to 1 page using 1.5 line-spacing.

Assessment: This part of the assignment will be assessed using the following criteria:


Level of detail in the explanation of CRM


Use of marketing terms and concepts to support the process

Review the information about Customer Relationship Management in your textbook and answer the following questions.


What is CRM and why is it important? (5 points)


Describe the steps used in implementing a CRM System (5 points)

2.5 Report Structure and Presentation (5 marks)

Remember, you will be judged by the structure, clarity, presentation, and quality of your work. Prepare and present your assignments in a formal manner suitable for business.

To ensure the quality of your written work, refer to the Assignment and Final Project Structure under the Assignments Section on the course navigation bar.

Assessment Criteria

The assignment will be evaluated against the following performance criteria:

Content—Address all points of information as outlined in the criteria and content for the assignments and Final Project. Incorporate specific references to readings, theories, ideas, and feedback that assisted you in rethinking your experiences and increasing your awareness of your marketing skills.

Knowledge—Demonstrate your knowledge, understanding, skills, and perspectives on the course’s learning materials by applying them in the assignments and Final Project. Link theory and practice by applying what you learned from the readings, reflections, and practical application of your new marketing skills and from discussions with your fellow students.

Theory & Practice—Demonstrate the connections between the work of others (course materials, readings, activities, and discussions) and actual organizational principles, practices, and processes. Go beyond general descriptions. Be thoughtful and critical in your analyses, conclusions, and recommendations.

Critical Thinking—Use reflective, logical, and rational thinking to gather, combine, process, interpret, and analyze the information to develop a reasonable conclusion. Provide examples to support your comments and observations. Be specific and concrete. Tell a complete story. Avoid generalizations. Support a statement with a specific example that demonstrates your understanding and skill.

Completion Guidelines

Submit your Assignment using the Assignment link located on the left-hand navigation bar. Be sure to save your assignment as a Word document and name it: MKTG 2431_Lastname_Assign1_CourseCompletionDate

Reminders before submitting assignment:


Did you put your name, student number, and your course completion date on the cover page of the document?


Did you submit all parts of the assignment in one Word document to your Open Learning Faculty Member?


Did you complete all the required elements?


Did you use concepts, information, and terminology learned in this course?


Did you support your statements with specific examples?


Did you cite references, using correct referencing format?


Did you ensure that there are no spelling mistakes?


Is your report grammatically correct, clear, and well organized?

Note

Reference all quotations appropriately using the APA style (author, date, title, publisher, page number) and when needed provide website URLs or references. Visit the TRU Library at http://www.tru.ca/library/distance.html and access “How do I…?” for further information about how to cite resources.

Review all of the information provided on the Statistics Canada website. For marketers seeking to develop market segment profiles or marketing strategy, what are four advantages and four disadvantages of using this data, from a marketing perspective? (10 points)

Assignment 2: Understanding Customers’ Value Needs Introduction Assignments have been designed to help you integrate and apply the marketing concepts, terms, and information you have learned up to this point. These concepts provide a foundation on which other course concepts are built. Assessing your comprehension will help ensure that you are on track to successfully complete the course. This assignment is worth 20% of your final grade in the course. 2.1: Market Research Concepts (20 marks) Suggested time: 2.5 hours Length: Please write your response in essay format and limit your response to 2 pages using 1.5 line-spacing. If you need to include a table, attach it as an exhibit or appendix and summarize your findings in the body of the assignment. Final Mark: This assignment is worth 20% of your final mark. Assessment: This part of the assignment will be assessed using the following criteria: • Demonstration of ability to navigate the Statistics Canada website to retrieve the requested information. • Critical assessment (advantages and disadvantages) of the use of Statistics Canada data for market segmentation and strategy development. Statistics Canada is a key source of secondary data in Canada, particularly for basic demographic information on Canadian cities and regions. Using both Statistics Canada data (http://www.statcan.gc.ca) and any other data you can find on the Internet, develop a report on a Canadian city of your choice that answers these questions: A. What is the total population of the city? (2 points) B. Using means (averages), frequencies (number of people), and percentages provided by Statistics Canada describe: (8 points) • The population of the city in terms of age, income, education, ethnic background, marital status, occupation, and housing • The demographic characteristics of the entire Canadian population • The most significant thing you learned from this exercise C. Review all of the information provided on the Statistics Canada website. For marketers seeking to develop market segment profiles or marketing strategy, what are four advantages and four disadvantages of using this data, from a marketing perspective? (10 points) 2.2: Consumer and Organizational Buying Behaviour (20 marks) Suggested time: 2 to 3 hours Length: Please write your response in essay format and in point form as appropriate and limit your response to 2 pages using 1.5 line-spacing. Assessment: This part of the assignment will be assessed using the following criteria: • The extent to which the answer provides comparison and contrasts and is able to illustrate how the model applied or did not apply in this situation. • Depth of insight with respect to the implications for sales and marketing. In this module, you learned that consumers and organizations go through a progression of steps as they make purchase decisions. A. Describe your decision process for each step in the consumer decisionmaking process when deciding to purchase an Apple iPad (http://www.apple.com) (5 points) B. How does your consumer decision-making process for an Apple iPad compare with the model illustrated in Figure 5.5 in the textbook on page 164? (5 points) C. With respect to Figure 2.1, the FCB Grid discussed earlier in this module, what type of decision is your decision to purchase an Apple iPad? Explain why your decision is a high/low involvement and a think/feel decision? (5 points) D. Assuming the consumer decision-making process is typical and that competition in the tablet market continues to increase, what are five sales and marketing implications for Apple to increase their chance of success in selling to a consumer like you? (5 points) 2.3: Mega Bloks— Segmentation and Positioning (45 marks) Suggested time: 4 to 6 hours Length: Please write your response in essay and/or point form as appropriate and limit your response to 3–4 pages using 1.5 line-spacing. Assessment: This part of the assignment will be assessed using the following criteria: • Strategic marketing insight of the SWOT Analysis • Level of detail in the target market segment profiles • Depth of rationale and use of marketing concepts, terms, and information to support conclusions or recommendations Refer to Assignment 1.2 SWOT Analysis for Mega Bloks. Reread the Marketing in Action Case, “Real Choices at Mega Bloks” in Chapter 2 on pages 83–84 in your textbook and review the organization’s website at http://www.megabloks.com to learn more about the company. A. Review the SWOT Analysis and four most important factors and their rationale facing this organization from your first assignment. Include both in this assignment. (0 points (used for reference only)) B. Decide on a segmentation approach for this market. Identify at least three target market segments in this market that fit this segmentation approach. Justify (from a marketing perspective) why this segmentation approach is a good one. (10 points) C. Develop detailed target market profiles for these three target market segments using your own experience, secondary research, and exploratory research methods (interviews with customers and/or direct observation). Ensure you apply consumer or organizational buying behaviour concepts and terms in the profile development. (15 points) D. Make a recommendation for the selection of a primary target market segment (target audience) you think this organization should target. Provide rationale as to why this target market segment should be the primary target market segment. (5 points) E. Determine a positioning strategy for the organization for your primary target market segment. Provide two reasons, from a marketing perspective, why this positioning is appropriate for your target audience. (5 points) F. Describe, from a marketing perspective, what allows this organization to defend this positioning or what competencies would need to be developed. (5 points) G.Draw a positioning map to illustrate your positioning strategy. (5 points) 2.4 Customer Relationship Management (10 marks) Suggested time: 1 hour Length: Please write your response in essay format and limit your response to 1 page using 1.5 line-spacing. Assessment: This part of the assignment will be assessed using the following criteria: • Level of detail in the explanation of CRM • Use of marketing terms and concepts to support the process Review the information about Customer Relationship Management in your textbook and answer the following questions. A. What is CRM and why is it important? (5 points) B. Describe the steps used in implementing a CRM System (5 points) 2.5 Report Structure and Presentation (5 marks) Remember, you will be judged by the structure, clarity, presentation, and quality of your work. Prepare and present your assignments in a formal manner suitable for business. To ensure the quality of your written work, refer to the Assignment and Final Project Structure under the Assignments Section on the course navigation bar. Assessment Criteria The assignment will be evaluated against the following performance criteria: Content—Address all points of information as outlined in the criteria and content for the assignments and Final Project. Incorporate specific references to readings, theories, ideas, and feedback that assisted you in rethinking your experiences and increasing your awareness of your marketing skills. Knowledge—Demonstrate your knowledge, understanding, skills, and perspectives on the course’s learning materials by applying them in the assignments and Final Project. Link theory and practice by applying what you learned from the readings, reflections, and practical application of your new marketing skills and from discussions with your fellow students. Theory & Practice—Demonstrate the connections between the work of others (course materials, readings, activities, and discussions) and actual organizational principles, practices, and processes. Go beyond general descriptions. Be thoughtful and critical in your analyses, conclusions, and recommendations. Critical Thinking—Use reflective, logical, and rational thinking to gather, combine, process, interpret, and analyze the information to develop a reasonable conclusion. Provide examples to support your comments and observations. Be specific and concrete. Tell a complete story. Avoid generalizations. Support a statement with a specific example that demonstrates your understanding and skill. Completion Guidelines Submit your Assignment using the Assignment link located on the left-hand navigation bar. Be sure to save your assignment as a Word document and name it: MKTG 2431_Lastname_Assign1_CourseCompletionDate Reminders before submitting assignment: • Did you put your name, student number, and your course completion date on the cover page of the document? • Did you submit all parts of the assignment in one Word document to your Open Learning Faculty Member? • Did you complete all the required elements? • Did you use concepts, information, and terminology learned in this course? • Did you support your statements with specific examples? • Did you cite references, using correct referencing format? • Did you ensure that there are no spelling mistakes? • Is your report grammatically correct, clear, and well organized? Note Reference all quotations appropriately using the APA style (author, date, title, publisher, page number) and when needed provide website URLs or references. Visit the TRU Library at http://www.tru.ca/library/distance.html and access “How do I…?” for further information about how to cite resources. Review all of the information provided on the Statistics Canada website. For marketers seeking to develop market segment profiles or marketing strategy, what are four advantages and four disadvantages of using this data, from a marketing perspective? (10 points)

Tutor Answer

Knutsen
School: University of Maryland

Attached.

Running head: MOUNTING THE VIABLE SUPERIORITY

Mounting the Viable Superiority

Student Name
Institution Affiliation

1

MOUNTING THE VIABLE SUPERIORITY

2

2.1: Marketing Research Concepts-20 Marks
A. What is the total population of the city?
The greater Toronto metropolis is the most populous city in Canada with a population of
5,928,040 inhabitants according to the 2016 census report. This makes Toronto the 4th largest
city in North America and of course the most vibrant city in Canada.


Toronto’s Demographic properties

The city of Toronto has an average income of $47, 616. The average mean of the population
stands at 39.7 years, while the median age is at 39.4%. The data shows that at least 68.9% of
Toronto is between 15-64 years. The population density per square kilometer is 1003.8 years.
The average household size in Toronto is 3. The city has a median total income of $30, 089 for
all working classes. Most of the people living within Toronto hold a certificate for higher
education as 4,879,095 have college degrees as compared to 794,735 (87%) which represents
13% (Population estimates, 2019). Indeed, most of the people living in the city are married to
2,466,925 being legally married while 1,537,495 are not married.
The ethnic composition of Toronto is 50.2% white representing at least half of the city's
population. The minorities were largely Asians (12.7%), Latin Americans (2.8%), and blacks
(8.5%), Arabs (1.1%), Aboriginal (0.7%). The Canadian citizens are 5,134,440 while the nonCanadians are 728,410. Most of the citizens in the city were originally from Europe, British
Isles, Canada, and North America. 87% of the population in the city are gainful employment
especially in the professional and technical services, retail trade, manufacturing, and healthcare
services while at least 5.8% of the people in the city unemployed.


The demographic characteristics of the entire Canadian population

Canada had a population of 35, 171, 728 people according to the 2016 census report. The
current estimates of the population stood at 37, 163, 656 people. The country has an average of
3.9 people per kilometer. At least 60% of Canadians live in Quebec and Ontario provinces. The
life expectancy of the population is 81 years (Population estimates, 2019). The average income
after tax was estimated to be at $57, 000 in 2016. The median employment income for all
workers was at $33,300. 32% of the Canadians are original inhabitants while 18.3% of them
were English, 13.9% were French, Scottish 13.4%, Irish (13.8%) and Germans (9.8%). The
average unemployment rate is 5.8%.

MOUNTING THE VIABLE SUPERIORITY


3

The most significant thing you learned from this exercise

The most significant lesson I have learned is that Canada has a vibrant economy and the
population is sparsely populated. The population growth in the country has been influencing by
indigenous populations as well as the immigrants that have enabled social diversity (Population
estimates, 2019). The country is also more inhabited in Ontario and Quebec in the southern
border due to its habitable conditions as well as the vibrant growth of cities such as Toronto.
B. Review all of the information provided on the Statistics Canada website. For
marketers seeking to develop market segment profiles or marketing strategy, what
are four advantages and four disadvantages of using this data, from a marketing
perspective? (10 points)
Pros


The demographic data is easier to obtain and analyze for market segmentation purposes



The targeting is made easier by the synthesized information collected from population
demographics and can enable a firm target a segment easily such as millennials or
married individuals of a certain age.



The data from demographics can be easily understood and readily used by people across
the organization since it is not complex



The co...

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Review

Anonymous
Tutor went the extra mile to help me with this essay. Citations were a bit shaky but I appreciated how well he handled APA styles and how ok he was to change them even though I didnt specify. Got a B+ which is believable and acceptable.

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