MRKT 310 Maryland Global Campus Week 2 Marketing Strategies Research

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Business Finance

MRKT 310

University of Maryland Global Campus

MRKT

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Directions

  • Step One: Select your product or service offering from the list in Writing Assignment Instructions. The same product/service will be used in all four of your writing assignments.
  • Step Two: Research your product or service offering through the Internet and UMGC’s virtual library. Your references will need to be mostly academic sources; see library services if you do not know what an academic source means and your own outside research. Do not limit yourself to searching solely on the product or service name. Look up the industry it is in. Hoovers.com database is a good place to search for this information in the UMGC library; search on that industry as well. Look up the direct competitors. Check industry journals and the trade press. Ask your family, friends, coworkers and others what they think about the product and each of the competitors. If relevant and possible, you may want to visit a retailer to compare the products on the shelves or visit all of the websites. Keep all your research as you will need it for future writing assignments.
    • [Optional] You may want to calculate the lifetime value of a customer. See the discussion of the lifetime value calculation in the week's reading, and calculate the LTV using this simple equation: LTV = (Price) * number of annual purchases * number of years expected to purchase - initial acquisition costs. For simplicity sake, you can assume your customer will have a relationship with you for ten years and you can make an educated guess as to how much the initial acquisition costs were to get that person as a customer in terms of advertising or other types of promotion efforts. If you are not a customer yourself, make and share your assumptions about your calculation. If you are not a customer, you might want to find someone who is. Ask them why they are loyal to the product or service.
  • Step Three: Prepare your assignment to answer each of the following questions (two in part 1 and two in part 2). Although you do not need to repeat the question, each section should have a heading. The paper should contain approximately 4-5 total pages of analysis for the responses to the questions. See Writing Assignment Instructions for full details of the requirements.

Part 1 – Customer Value & Role in Mission

  1. Creating Value for Customers. Consider the customers you believe currently use your product or service and the definition of marketing offered in the course content. Discuss how you think the company creates value for its customers based on the concepts in this week's readings.
  2. Role of the Customer in the Company's Mission. The readings indicate that the best marketing begins with the customer and that commitment to the customer begins with including the customer in the company's mission statement. Find your company's mission statement. Copy, paste and cite the company mission statement (or attach as an exhibit if it is too long). Comment on its effectiveness in demonstrating the company's commitment to having a customer focus. Could the mission statement have more focus on the customer? How would you recommend it be modified? Is it supported with value statements or other evidence of a customer focus?

Part 2 – Company Analysis

  1. SWOT analysis. Perform a SWOT analysis for your company and create a table in which you display and explain your results. Identify at least one element of each of the SWOT categories (a strength, a weakness, an opportunity, and a threat). Explain your choice using a citation to support your explanation. Then identify possible implications for each of the four elements. Create and include a Table in which these elements are posted. For example, if a strength is a strong national brand name, the implication is that the company may be able to launch other related products under the positive umbrella of the same brand name. Conversely, if a major weakness is the company is carrying a lot of debt, the implication is that the company not be able to achieve significant growth, but may have to consider retrenchment strategies. Your response will be enhanced by including elements related to your product. Do not simply reproduce a SWOT analysis you find somewhere; you are being asked to perform your own analysis and create your own SWOT.
  2. Competitive Analysis. Identify at least two major competitors that are trying to sell essentially identical products to the same type of consumer. Then, identify at least three criteria that are important to those consumers when they are making their decision as to which of the three competing offers to buy (e.g. price, specific benefit, service, warranty, convenience, specific feature, etc.). Make a chart with the three criteria along the left-hand side and the competitor products (including your own product) across the top. Rank each of the products on a scale from 1= low to 5= high on each performs on each of the three criteria. Add down each column. Which product ranked highest overall based on the sum of the columns? Then, look at the highest score in each of the criteria boxes. Explain the following…Which products ranked the highest on each of the three criteria? Was it the same product, was it three different products? What do these results tell you about the competitive environment of your product category. Which product is the leader? Which product is the follower, challenger and nicher, if those categories apply? Include your chart in your text.

Please use only US Sources

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Writing Assignment Instructions Print GENERAL INSTRUCTIONS Please review this information at the start of Week 1 and for each assignment! There are four writing assignments, due in Weeks 2, 4, 6, and 8 of this course. In this document you will find the format instructions that apply to all four assignments. Review the Writing Assignment Rubric You will use the same one product or service as the subject of each of your four writing assignments. Please select ONE product or service offering from the list below. • T-Mobile • Southwest Airline • Jeep • Fitbit • Roadtrek Zion • Mini Maids PRODUCT CHOICE & CONTENT Think carefully about your choice as you will focus on this product or service offering for each of the four writing assignments. It is in your best interest to select a product or service that interests you and for which you feel you can gain sufficient information. Your focus will be on the domestic, or U.S. marketing of this product only. If the product is also marketing in other countries you do not need to concern yourself with the global operations. You are not expected to be an expert on the product or service, and you will have large gaps in your knowledge due to proprietary information. You are not expected to purchase any sources that may have the information you need. You are expected to form well-reasoned conclusions based on what you do know or have found through research, or can reasonably assume. Respond comprehensively. Give examples when appropriate. Be sure to provide your own perspective on each of the questions. See Supporting Conclusions with Your Ideas and Reasoning. FORMAT & WRITING Each writing assignment will require you to respond to four questions total (two in Part 1 and two in Part 2). You must respond to all four questions, or the assignment will be unsatisfactory. Each assignment should be approximately four to five pages of double-spaced text in length. A page is approximately 250 words. You may attach exhibits if you wish. More pages are acceptable, however, fewer than three pages is not satisfactory. Note that a percentage of your grade will be based on your grammar, composition, adherence to the submission requirements, and use of an appropriate college-level style guide for writing and referencing (APA format). Prepare each assignment in Microsoft Word. Here are the technical requirements: • Use a simple 12-point font such as Times New Roman and black ink primarily. Use color where it enhances your ability to communicate your thoughts • A cover page is required. A references page is required. The cover page and references page are not included in the written analysis or the page count. • Be sure your name, writing assignment number, the date, and the name of your product or service are on the cover page of your writing assignment. • Use headings to separate topics (e.g., Part 1, 1. Creating Value for Customers) Use a minimum of six (6) references, four (4) of them dated 2016 to the present. • Includes references that explain the assignment concepts and references to the actual product. • Use credible academic sources. See, Is My Source Credible? • Wikipedia it is not acceptable as a reference source. Use APA format for citation of sources, both in-text and on the references list. See, Using APA in this course . • You should use APA style for a student paper. Follow APA 7th edition. See a sample APA 7 th edition student paper here. • More information about using APA, including a sample APA student paper, can be found under Course Resources>APA & Writing Resources or at UMGC's virtual library Upload your Word document (only .doc or .docx) in your Assignments folder by the due date in the LEO calendar. The due date is Tuesday 11:59 pm Eastern Time. • Save and post your paper in the following manner: FirstInitial_LastName_A1. For example, for Assignment 1, Marlon Hutchison would post: MHutchison_A1. Where to go for help with the Writing Assignments • Have a content question? Post your specific or general questions to Ask the Professor. • Need help with research? Ask a Librarian or see Research Resources. • Need help with APA citation? Go to Citing and Writing (UMGC Library APA Resources). • Need help with writing? Consider Writing Tutoring through UMGC. Go to the tutoring site via the “Tutoring Assistance” link on the top navigation bar in the classroom. See, Writing Tutoring.
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Running Head: MARKETING STRATEGIES

MARKETING STRATEGIES
Name
Institution Affiliation
Date

1

MARKETING STRATEGIES

2

Mini maids cleaning and caregiving service
The service I have chosen is the mini maids cleaning and caregiving service. The mini maid
simply exploits the science of cleaning in the United States of America. It is one of the fast-growing
services offered in the state. The opportunity arose in the early 1970s when most of the women
were transformed into official workers. As a result, they had to look for a means by which care
would be offered to their kids. The service was majorly founded by Leone, who found a maid as a
burden other than a luxury. The idea kept on cooking in her mind. Thus, she took the initiative to
establish the mini maids' group that offers quality service of child-caring and cleaning service to
those in need. With time Leone found that the work became exceedingly great and required more
labor force. She recruited and trained the new members concerning the job and the tasks required
of them (Rahimi et al.,2019). It has become one of the lucrative and admirable services that people
run for.
The team modeled management principles to help govern the company, and the concept
was tuned and became the min maid service company. The vision became a reality when one works
on it. The mini maid service company is one of the best companies in the sector in the current
situation (Rahimi et al.,2019). They compete fairly in the market, and their cheaper pricing
technique gives them a competitive advantage over the rest. Among the cleaning companies and
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Service Company and bonus building care. However, the mini maid service company outstands
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because of the pro...


Anonymous
Really useful study material!

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