Presentation slide

Jan 11th, 2017
Anonymous
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Question description

Good Morning,

I need help with my portion of the team assignment presentation. I will need about 2 slides. Please see the instructions, and speaker notes is an requirement. Please see the two attach papers for an ideal. This is my portion (Develop an initial budget for your plan)

Compile the information presented in your previous team papers into slides to include in this presentation. Be sure to follow the same order as the papers progressed through each week and then add in this week's material to complete the marketing plan presentation.

Prepare a 15- to 20-slide Microsoft® PowerPoint® presentation with speaker's notes illustrating your previous team assignment material as well as this week's work on your promotional strategy to complete the full marketing plan.

Include the following in the presentation:

  • A cover slide with the presentation title, the names of each participating team member, date, course, and instructor.
  • An introduction slide.
  • Slides that integrate the work from your previous team paper's that have been updated per instructor feedback.
  • Slides that explain your promotional strategy for your product or service.
  • Include how you will use at least three of the following elements:
    • Advertising
    • Public relations
    • Digital marketing, including social media
    • Sales promotion
    • Direct marketing
    • Event marketing
    • Outdoor
  • Develop an initial budget for your plan. cxhende
  • Prepare a pie chart showing the dollars/percentages budgeted for each included marketing activity for the first year.
  • Provide justification for your choices.
  • Explain the evaluation and control methods you will use to measure the success of your plan.
  • A conclusion slide.




Running head: SWEET TREATS STRATEGY AND POSITIONING ANALYSIS PART II Sweet Treats Strategy and Positioning Analysis Part II Learning Team B MKT 421 January 9, 2017 Shannon Peterson 1 SWEET TREATS STRATEGY AND POSITIONING ANALYSIS PART II 2 When a new product is released, it goes through a series of stages called the product life cycle. These four stages include: introduction, growth, maturity, and decline. The introduction stage is where consumers will be informed and made more aware of the product. In the growth stage, the product will be presented to multiple potential consumers with the hopes that they will be convinced to purchase the product. Next is the maturity stage where we will continue to work beside our customers to remind them of the product. Lastly, is the decline stage which we will make sure that we are implementing new products to keep our customers intrigued, wanting more and prevent the business from liquidation. In this presentation for Sweet Treats, we will analyze the marketing mix for the product life cycle, packaging for the product, pricing strategy and our channels of distribution. Marketing Efforts, Marketing Mix, and the Product Life Cycle To develop quality marketing strategies, the marketing efforts and marketing mix of Sweet Treats will be evaluated and adjusted with each phase of the product life cycle. There are the four Ps of the marketing mix to consider which are product, price, promotion and place (Kerin, Hartley, & Rudelius, 2015). There are also four product life cycle stages as mentioned above. In the introduction stage, marketing actions need to tell consumers about the product to create awareness; therefore, Sweet Treats goal is to capture consumers’ attention through a variety of promotional forms including a grand opening sale, campaign mailings and personal selling. The grand opening will be advertised on the radio and through fliers throughout WalMart and the promotion will offer one free cookie or brownie with the opportunity to join the Sweet Treats membership. The members will be eligible for exclusive offers and will be able to provide feedback on current products and suggestions for new products. SWEET TREATS STRATEGY AND POSITIONING ANALYSIS PART II 3 The mailing campaign will announce the grand opening to consumers within the area to drive in foot traffic and then the personal selling process will require two representatives who will help consumers by offering bite-sized samples, information about products and assistance with the buying process. During this time, it is also vital that the consumers’ wants and needs are evaluated to ensure they are satisfied not only with the product but the service. In the growth stage, the organization has to push why its brand and product is better and set itself apart from the competition. The marketing efforts will focus on how it has a variety of unique, tasty products available to be delivered. The advertising will include reminders of gluten-free and sugar-free products that those with dietary restrictions can enjoy. The use of radio advertisements and eye-catching emails to Sweet Treats members will also be used to achieve not only branding but sales and customer loyalty. Pricing is an important factor and very essential to attracting and retaining customers. The places where the products are available to consumers also need to be evaluated for convenience, timeliness and accessibility. Market research must often be done to compare pricing and product placing among the competition to hold a competitive edge. During the maturity stage, it is essential to develop innovative marketing ideas that focus on keeping buyers interested while maintaining a presence in the market. Consumer indifference is a common issue at this stage therefore, changing the product offerings with a new variety of goods can create an advantage over the competition (When Marketing Mirrors Jazz: Creativity during the Mature Stage of a Product’s Life Cycle, 2016). Promotional ideas must be continued to keep buyers informed. Direct mail promotional advertisements with holiday and seasonal specials, such as the treat of the week, will be used to sustain consumer awareness. In the final decline stage, marketing will be low key as the interest SWEET TREATS STRATEGY AND POSITIONING ANALYSIS PART II 4 in the product has substantially reduced. Marketing will mainly focus on loyal customers by sending personalized advertisements offering exclusive coupons and discounts. Tying together marketing efforts and the marketing mix with the product life cycle and consistently conducting an analysis of such efforts, will lead to the development of successful marketing strategies for customer satisfaction and achievement of organizational goals. How Product Packaging Adds Value The packaging of Sweet Treats in Wal-Mart will lead to a great value addition of the product in the market. First, the product packaging will be attractive and appealing to the eyes of the consumers. This will increase the chances of the purchasing the products by the consumers (Peters, Higgins and Richmond 1). Beautiful packaging will also increase chances of the customer to choosing our products against the competitor products in the market. The product will distinguish itself from others while building the company brand in the market. Aesthetic branding is important since it promotes the product sales and the brand name. Secondly, the Sweet Treats packaging will be packaged according to the ingredients used in the product to easily make consumers aware of which products that they are purchasing. This will increase the number of consumers including the people who avoid the product due to some ingredients such as dairy among others. Another way that the product can be packaged is according to the flavors so that consumers can make selections by taste as well. All of these aspects of packaging will increase the value of the products in the market and also by meeting the health needs of the customers (Hiam, 277). The packaging of the Sweet Treats will also help to fight counterfeit products in the market and ensure that people get the right products that meet their health demands (Del and SWEET TREATS STRATEGY AND POSITIONING ANALYSIS PART II 5 Conte 109). Packaging will be different based on different flavors thus making it difficult to produce the counterfeit products of all favors. This will enlighten customers on the packaging of the products that they choose reducing the chances of counterfeit products in the market. The packaging of the Sweet Treats will also protect it from easy damage and cause unnecessary dirt that may scare the customer due to health issues. Broken products could cause losses to the company and discourage people from purchasing them (Klimchuk, and Krasovec 25). Therefore, secure packaging of the products will protect it from damage and dirt which will attract more customers as well as retaining customers in the market. Therefore, packaging of the Sweet Treats in Wal-Mart will help in attract more customers due to its aesthetic state, serve all types of customers, fight counterfeit products and protect the products from damage and being dirty. This will make the products better and attractive to the customers in the market. Pricing Strategy One of the most important components of Sweet Treats’ marketing mix is an appropriate pricing strategy. Identifying the right pricing level is a key factor because pricing our products too high or too low can lead to loss of sales for the company. Some of the factors that Sweet Treats’ marketing team should consider are (1) fixed and variable costs, (2) competition, (3) company objectives, (4) positioning strategies, and (5) target group and their willingness to pay (The Marketing Mix, nd). First, the best pricing strategy for Sweet Treats to consider is competitive pricing. There are other companies already offering gluten free, dairy free, wheat free and vegetarian deserts so Sweet Treats needs to have a pricing strategy that will be comparable to these companies. Sweet Treats has an added appeal because we are offering a delivery service and an opportunity to add a drink of choice with the deserts. Sweet Treats will set pricing that is on the same level as the competition when entering the market. SWEET TREATS STRATEGY AND POSITIONING ANALYSIS PART II 6 Sweet Treats will offer two options of deserts, cookies and brownies. A half-dozen cookies or brownies will cost $6.95. A full dozen of cookies or brownies will cost $11.95. If the customer would like to add regular milk, soy milk, or almond milk, the additional cost will vary depending on the location of the store. The reason for this is because prices vary greatly in different regions. For example, in 2016 the average price for a gallon of milk in New York, NY was $4.05, while the average price in Dallas, TX was $2.93 (Rella, 2016). Sweet Treats will price the added milk according to the average price at specific locations. The final price that Sweet Treats will consider is delivery. A delivery service fee of $4.95 will be added to orders that are $25.00 or less. Orders over $25.00 will include a delivery fee of $7.95. Finally, orders that are over $50.00 will be delivered at no charge. By offering free delivery for large orders, Sweet Treats will entice consumers to purchase more products which will not only help the brand to grow but to grow the customer base as well. Channels of Distribution Small businesses need to find a way to serve their customers regardless of where they are located; therefore selecting the right distribution channel is an important aspect of building a competitive advantage for businesses of every size, according to Shorey Consulting (Linton, 2017). Sweet Treats main channel of distribution will be accessing the foot traffic from the many customers of Wal-Mart. This helps us to rely on a brand name that will give us access to hundreds of consumers and a variety of consumers per store. Also, as Sweet Treats delves into business there are options in how the consumer will receive their treats. The objective of Sweet Treats distribution is to allow the consumer options on receiving the product. There will be two main options offered to the customer: order online for delivery or in store pickup and the other option is to meet with a Sweet Treats consultant in store for tastings SWEET TREATS STRATEGY AND POSITIONING ANALYSIS PART II 7 while discussing delivery options. The options for delivery will be either to the customers home or business. There will also be a hot and fresh service offered within a five mile radius from the store location and this other option will be shipped directly to your home using the local delivery services of UPS, FedEx or USPS. This example illustrates a narrow vs wide reach of distribution. The narrow example is the limitation on the delivery service (direct distribution) for hot and fresh dessert and the wide reach service is the option to have it delivered to your home via one of the three shipping providers (indirect distribution). These two methods allow Sweet Treats the opportunity to use both forms of distribution. The direct distribution cost remains low as there are options here as well. There will be one main company vehicle per location to handle the large orders and the smaller orders will be handled by employees using their personal vehicles in which they will be compensated for mileage while delivering the product. The indirect distribution used will save the company the expense of purchasing more vehicles. The value this gives to the company is, there are tracking numbers offered by these companies that will allow the customer to know exactly what is going on with their order and when it will arrive in real time. Conclusion Sweet Treats ultimate goal is to become a household name with the help of Walmart. It is also the hopes that in time, consumers will know the history of how Sweet Treats came about. When starting the Sweet Treats business like any other business, there are steps that must be followed. Marketing mix, marketing efforts and product life cycles are the first steps of the business process that helps it to get up and running. Marketing is definitely going to be a key factor to getting sales and moving the product. Another decision that needs to be made is how a SWEET TREATS STRATEGY AND POSITIONING ANALYSIS PART II 8 business will package the product for sales and shipping of the treats and the pricing strategy that will be used. The last item is distribution of the products to get them out to the consumers. The distribution process used could be direct or indirect so it is imperative that this process is thought out so that a variety of consumers are being reached. Supply and demand will come into play along this area because this is how Sweet Treats will determine its inventory, making sure the shelves remain stocked with the customer’s demands. Just like with the products that Sweet Treats will offer, with all of these ingredients/processes mixed or executed properly, this will lead to a very successful product and service with the hopes that the consumers can see and taste the beauty of our treats. SWEET TREATS STRATEGY AND POSITIONING ANALYSIS PART II 9 References Del, Nobile M. A, and Amalia Conte. Packaging for Food Preservation. New York, NY: Springer, 2013. Internet resource Hiam, Alexander. Marketing for Dummies. , 2014. Internet resource. Kerin, R., Hartley, S., & Rudelius, W. (2015). Marketing (12th ed.). New York, New York: McGraw-Hill. Klimchuk, Marianne R, and Sandra A. Krasovec. (2012). (Packaging Design: Successful Product Branding from Concept to Shelf. Hoboken, NJ: John Wiley & Sons. Linton, I. (2017, January 7). Distribution Channel Selecton Factors. Retrieved from Chron Small Business: http://smallbusiness.chron.com/distribution-channel-selection-factors13111.html Peters, Jim, Brian Higgins, and Michael Richmond. Creating Value Through Packaging: Unlocking a New Business and Management Strategy. Lancaster: DEStech Publications, 2013. Print. Rella, E. (2016). Finance. Retrieved from: http://www.aol.com/article/2016/02/11/the-most-and-least-expensive-city-for-a-gallonof-milk/21311355/. The Marketing Mix. (nd). Retrieved from: www.learnmarketing.com/price/htm. SWEET TREATS STRATEGY AND POSITIONING ANALYSIS PART II 10 When marketing mirrors jazz: Creativity during the mature stage of a product's life cycle. (2016). Strategic Direction, 32(4), 15.
1 Strategy and Positioning Analysis Part 1 Learning Team B MKT/421 December 19, 2016 Shannon Peterson 2 Walmart Stores Inc. is the largest American retail corporation that serves many countries worldwide. As of October 2016, Walmart currently has 11,593 stores in over 28 countries including department stores, grocery stores and hypermarkets. This corporation was founded in 1962 by Sam Walton and incorporated in 1969. The first store was opened in Rogers, Arkansas by Sam Walton with the notion to lower the cost of living for everyone by working together. Over the past 50 years, Walmart has grown from grossing $12 million in sales annually to making $40 million a day grossing over $14 billion annually. The products that Walmart sell come from a wide variety of sorts. They have become a company with integrity that consumers trust and are known for being a one stop shop. Walmart sells everything from groceries, clothes, toys, furniture and even have automotive services at select locations. With Walmart establishing such a brand and being as successful as they are, they have decided to branch out into the world of delivering baked goods to homes. This new venture is one that is sure to appeal to their consumers as they are already a brand that has not only become a household name but have been delivering world class services since its origination. The Product Sweet Treats is a delivery service that will offer consumers a chance to order a sweet treat with a drink or side of their choice. But what will make us stand out from our competitors, is we will be offering an option that meets customer’s dietary restrictions. In today’s society, there are a lot of people who are gluten free, wheat free, dairy free, vegans, etc. By offering this service, it allows us to reach more consumers allowing everyone to enjoy these sweet treats. Here you have an option to order something for yourself or provide a thoughtful gift to your family and friends. 3 Our standard package consists of an option between a dozen cookies or brownies with a side of milk with an option to choose between which type of milk you would like to be delivered. We have regular milk, soy milk, and almond milk as your options. Our next package will be your choice of pie (apple, peach, blueberry, pumpkin, or pecan) delivered with a side of ice cream. Once again, we will have options for customers to meet their dietary restrictions. We understand that sometimes it is hard to find a bakery who offers these options, and it’s even harder to find someone who can deliver these products. We want to make sure that customers all over can enjoy a guilty pleasure, which is why we have partnered with Walmart. Most of the time, you have to live in a big city to find somewhere who offers more than just your everyday bakery items. By teaming up with Walmart, we can reach people even in the most rural parts of the Unites States. Target Market Segments Sweet Treats will focus on its target market utilizing the four bases of segmentation: demographic segmentation, psychographic segmentation, geographic segmentation, and behavioral segmentation. Demographic Most Americans make an effort to eat healthy, whether it is gluten free, dairy free, wheat free or vegetarian. According to PR Newswire, 60% of American adult’s limit, or completely eliminate, at least one particular nutritional component from their diet. Specifically, nonwhites, age 18-49 years, restrict gluten in their diets (Riffkin, 2015). and 33% of nonwhites include gluten free products in their diets, compared to only 17% of whites. 4 Psychographic While many Americans choose to restrict their diets of certain nutritional components due to diagnosed diseases, such as Celiac disease related to gluten products, “eating healthy” has become a lifestyle choice for a large portion of the population. Sweet Treats will offer a variety of healthy alternative treats to satisfy this particular need. Geographic Many consumers that choose restrictive dietary products live and work in the large cities. Because Sweet Treats delivers their products, they can reach this very large market segment. As the demand grows in more rural areas, the company will be able to satisfy its customers in these locations. Walmart stores are located throughout the country in both large cities and small towns, making Sweet Treats easily accessible to consumers. Behavioral Factors Consumers of baked goods and ice cream desire appealing textures and flavors. Sweet Treats understands this and markets products that have been proven to give the consumer a culinary delight. The usage rate increases during the Thanksgiving and Christmas seasons; therefore, Sweet Treats will be ready to increase production during this time. SWOT Analysis There are two vital marketing components that must be considered for the SWOT analysis of Sweet Treats. First, the organization must consider the three areas of the strategic marketing process, which are resource allocation, putting plans into action, and plan evaluation (Kerin, Hartley, & Rudelius, 2015). Sweet Treats must efficiently allocate its valuable resources to the right target market for optimal growth potential. At the same time, the marketing objectives must align with the company’s strategic goals and actively move toward such goals. 5 Finally, the marketing plan must be evaluated to ensure it is effectively driving in sales and delivering the expected results. The second component of the SWOT analysis for consideration is the marketing mix or “4Ps”, which are price, product, place, and promotion (Kerin, et al., 2015). Sweet Treats has to offer fairly priced, quality products that are easily accessed and conveniently purchased to meet consumer demands. Additionally, the products and marketing strategies must promote the Sweet Treats brand. Following is the SWOT analysis of Sweet Treats for review: Strengths (Internal)   Weaknesses (Internal) Delivering fresh baked goods to meet  New to the market consumer demands  Lack of brand recognition Experienced bakers, staff, and  Online presence and marketing  Consumer loyalty  Delivery time restraints management provide a solid business foundation  Offering sugar-free and gluten-free products  Competitive pricing  Attractive brand name and packaging  Support of Wal-Mart brand Opportunities (External) Threats (External) 6   Demand for special occasion brands: Mrs. Fields, Cheryl’s Cookies, packages: birthday, holiday, etc.  Demand for catering events  Expansion for growth and Carolina Cookie  Increasing online competition from national sellers development  Competing with large recognized  Technological and Internet capabilities Improper marketing strategies can create financial risk  Substitution options to consumers Competitive Analysis Current company’s Potential Competitive Rival’s strengths and Competitor’s strengths and weaknesses strengths and weaknesses weaknesses (COSTO) Target Market Strengths Strengths Strengths    Wide customer base Strong market presence due to international  Expansive Niche market that is loyal 7 presence  Global supply chain Weaknesses supply chain Weaknesses Weaknesses  Sale of one type of  Exclusivity to product. No members range of  Less influence  Low profit different types, in terms of margins nor healthy healthy cookies products. selections Product Strengths  Healthy  Appealing to all ages  Wide range that customers can select Strengths  Wide array of Strengths  products Established almost identical  Listed calorie products with charts, and existing loyal ingredients customer base. label from  The existing other dietary 8 products from the nearby bakeries Weaknesses  No cookies delivery business within the targeted market range  Selling of incomplete dietary cookies that are nongluten free Place Walmart is in a Competitors try to Contrary to the position to distribute keep up with the existing bakeries its products to a large strategies of their other offering cookies, customer base due to competitors and Walmart will provide its advanced supply therefore, COSTA gluten free and vegan 9 chain an also in its would most likely many stores that are increase its outlets to located in various reach more customer countries. However, base. However, this long supply chains may take long periods especially in due to its already loyal international markets niche customer base. cookies. However, the existing market likes the different flavored cookies currently in the market. Children love flavored are not ideal for sale cookies from the of cookies existing sellers and the parents spent a lot in making their children happy. Promotion Due to its large The competitors The existing rivals amounts of revenue, depend on door-to- flourish in buy 3 get 1 Walmart is able to door marketing. form of promotion. conduct effective and Additionally, their Besides, the focus is wide promotion. focus is in radio and on customized cookies TV advertisements. packages bearing the Unfortunately, the customers’ name. market is migrating to However, there is no social networks. The much of promotion largest percentage of that is customer 10 the targeted market engaging and helps today spent a lot of them to live healthy their time on the social lives. networks. Price The cookies prices The favorable prices The promotion of buy vary based on the that depend on the 3 get 1 free entices the packages. The lowest customer’s type of customers into bulky package is 100mg flavor favor the buying. and the highest competitors. package is 10kg. The prices are affordable. There is discount for loyal customers and those buying on bulky. Competitive Switching costs that Advertising used as Predatory pricing that Barriers will be incurred the sinking cost by the tends to be customer through delivering of existing competitors. friendly. Loyal schemes that Predatory acquisition involve having that involves member customers. competition bulky purchased products. Online presence where customers can Vertical integration commission. This 11 do online ordering that prevent the new plays the biggest role and payment. entrants into the in the competitor’s market reasons for thriving in Strategic leadership the market. through developing clear and effective goals to help the company establish the customer’s relation. Leveraging on core competencies through offering the gluten free and vegan cookies. Likely responses Positive response Competitors are more These are more likely from customers, thus likely to create similar to create substitute increasing sales for line of products that products that appear the company. will compete with more appealing to Walmart’s line of compete in the market. healthy cookies. Market to Buy 12 When we start working on the Marketing of the product and how we will push the product to be purchased. We will be going over a human’s emotions to attack the market of this product and service. Product will have to have the right prices of the product and service. The prices need to be reasonable to if someone went into a bakery and purchase it over the counter. Attack the buyers that have health restrictions and anyone that keeps a big fitness life. If we could make a bar that is only for a gym or instructor to give to their customers as well. We will have to go after the market of customers that do not have the ability to back at their own place that they call home. As a business we can take over the catering business of the Sweat Treats. As a team we will bring the logical decisions so we can go forward. Positioning Statement For the consumer that suffers from food allergens, Sweet Treats offers a variety of gluten, wheat, and dairy free sweets. Sweet Treats provides the safest, freshest allergy free product to your door exactly the way you want it. Sweet treats, wants everyone with a sweet tooth to have an opportunity to fill that need, even though they are allergic to certain foods. Sweet Treats is combining forces with the nationwide grocer Walmart, to offer a variety of sweet treats that are either gluten free, wheat free, dairy free or a combination to consumers. Sweet treats, offers treats that are customizable by the customer to meet allergy needs that are delivered fresh to your door. The target market Sweet Treats is trying to reach is the large market cities where they can deliver the product to either business or home using the Walmart connection. The main focus will be the groups of people that suffer from allergens that are still wanting their sweet tooth fix. 13 From 1997-2007 food allergens increased 50% and 1 in 13 children has a food allergy. (FARE Food Allergy Research & Education, 2016) Sweet Treats is meeting customer needs with allergens by providing tasty sweet treats to those with allergies that otherwise could not have treats such as cakes, cookies, pies, ice cream and other desserts. What sets Sweet Treats apart from the other competitors is that they are offering customizable treats that are allergy free, fresh, and very tasty that are delivered to your door when promised. Focusing on the customers’ needs and provide exceptional service is what sets us apart from others. References FARE Food Allergy Research & Education. (2016, December 18). Retrieved from Foodallergy: http://www.foodallergy.org/food-allergy-awareness-week/social#.WFcqPlyYKRg Gerencer, T. (2016). MoneyNation. How much money does Walmart make in a year? Retrieved from http://moneynation.com/how-much-money-does-walmart-make/ Kerin, R., Hartley, S., & Rudelius, W. (2015). Marketing (12th ed.). New York, New York: McGraw-Hill. Majority of Households Have Someone with Diet Restrictions. (2014). PR Newswire. Retrieved From: http://www.foodmanufacturing.com/news/2014/06/majority-ushouseholds-have-someone-diet-restrictions Riffkin, R. (2015). One in Five Americans Include Gluten Free Foods in Diet. Gallup. 14 Retrieved From: http://www.gallup.com/poll/184307/one-five-americans-include-glutenfree-foods-diet.aspx Walmart. (2016). Our History. Retrieved from http://corporate.walmart.com/our-story/ourhistory

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STRATEGY AND POSITIONING:
NAME:
COURSE NAME AND NUMBER:
INSTITUTION:
DATE:

ESTIMATED BUDGET
Media class

Media Vehicle

Total cost per
vehicle

Total cost per
Media class
(Monthly)

Total Cost
(Annually)

Outdoor
Advertising

-Posters
-Neon lights
-Bus adverts
-Billboards

Billboards range
from $5,000$15,000 for highquality designs
Posters, neon lights,
and others $ 300 to
produce and
distribute

Approximately
$10,000

Approximately
$120,000

Television
Media

Television
channels

$300 for one 30second
(4 ads per day)

Approximately$
36,000

Approximately$4
32,000

Radio Media

Radio channels $ 90-$120 weekly
Approximately
on a rotator
$2,400
Using a maximum of
5 channels

Approximately
$28,800

Media
class

Media
Vehicle

Total cost per
vehicle

Digital
Marketing

Websites
Blogs
Emails
Search Engines
Pop-ups and
banner ...

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