BUS 508 A FINANCE & ACCOUNTING Assignment 3 Week 7 Marketing-Marketing Manager AnalysisACTMARKETING- MARKETING MANAGER ANALYSIS Due DateWeek 7Note: While representative of possible situations faced by the Brooklyn Nets, all scenarios in this assignment are fictional.Real BusinessFor a large discount retail store like Target or Walmart, it can be difficult to get the marketing mix just right for a given product. There are so many products in the store fighting for the attention of customers. There is also the challenge of helping the suppliers of each product maximize their profits while making sure the store is making money. With so many things to consider, working in marketing for such a large business can be a challenge.Your RoleThis week, you’ll be acting as a Marketing Manager in the sporting goods section. WHAT IS A MARKETING MANAGER?Marketing Managers are responsible for developing, implementing and executing marketing plans, either for an entire organization or for particular categories or products within the organization, in order to attract potential customers and keep existing ones.Their day-to-day tasks include managing and coordinating marketing and creative staff, leading market research to improve existing products and services, working with advertising agencies, and determining the best way to get products in front of customers. As a marketing manager for a discount retail store in Brooklyn, you have been asked to evaluate a marketing plan for basketballs to ensure that the 4 P’s of marketing are being applied well. Using your knowledge of the 4 P’s and the best approach to generating sales, you’ll take a look at a number of marketing recommendations and choose the approach that you believe will sell the most products. INSTRUCTIONSStep 1: ProductIn the Marketing Analysis Presentation provided by your marketing team, you’ll see three different basketballs that need to be included in the product display on Slide 2. Each product has unique features.Based on the information provided about the customers that shop at the store location on Slide 3, choose the basketball that you think will sell the most. Explain the rationale for your decision. Step 2: PlaceOn Slide 4 of the Marketing Analysis Presentation, you’ll see the results of a survey that asked potential buyers about where they are most likely to purchase these products.Use your knowledge about product placement to choose the best place to sell the products, deciding between traditional stores and online. Explain the rationale for your decision. Step 3: PromotionSlide 5 of the Marketing Analysis Presentation shows three recommended advertisements, including a special deal promotion, for the product that is expected to sell the best.Based on the information provided about the customers that shop at this store location on Slide 3, determine which promotional activity will sell the most product at this particular store. Explain the rationale for your decision. Step 4: PriceFinally, look at the pricing options available for each of the three products together on Slide 6.Based on your knowledge of the Pricing Strategies discussed on pages 186-187 in the textbook, choose the option that has the best pricing mix for all three products. Refer to the customer information on Slide 2, if needed. Explain the rationale for your decision.Note: You should complete Step 5 after reading the material in Week 7. Step 5: Brand & Sales PitchThe company that makes one of the basketballs is looking to rebrand the product. They have asked for your input on possible brands ideas.First, read the Brand Vision statement which summarizes the goal for the new brand. Then, look at the logo, name, and tagline recommendations. Which of the two brand directions do you think best meets the goals of the brand vision? Please support your decisions.Second, write a 2-3 sentence sales pitch that you would use to try to convince someone to purchase this product. Step 6: Market SegmentationThe marketing plan for the basketballs at the Brooklyn store has been in place now for four months, and the marketing team has assembled a report reviewing sales data and customer feedback for the last quarter's basketball sales. Overall, the results are lower than you expected and you are concerened that your marketing and creative staff have not properly segmented your target customers.Remember, like many products in the marketplace, the basketball's marketing campaigns must target two different groups of customers: (1) adults who purchase the item as a gift and, therefore, do not actually use the product; and (2) adults and teenagers who purchase the item for their own use and enjoyment. Both groups have different reasons and expectations surrounding the item in question, and those reasons and expectations will have significant impacts on the buyers' purchasing deicisons.Review the five customer segments detailed on pages 194-195 of your textbook: Behavioral, Sociographic, Psychographic, Geographic and Demographic. Select one focus area of each segment that you feel is most relevant to the sale of basketballs at this store location.Keeping in mind the 4 P’s, write 1-2 questions for each focus area that will guide your staff as they investigate these aspects of your campaign.Example:Segment: GeographicFocus Area: NeighborhoodQuestions: What combination of marketing and media channels did we use to reach current and potential customers? How are we gathering information on where current customers live who purchased a basketball?

ReflectionConsider the following:Many business activities generate data that can be thought of as random. An example described in the textbook is the servicing of cars at an oil change shop. Each car entering the shop can be considered an experiment with random outcomes. A variable of interest in this experiment could be the amount of time necessary to service the car. Service time will vary randomly with each car. Often, we can capture the most relevant characteristics of a stochastic process with a simple probability distribution model. We can then analyze the model to make predictions and drive decisions. For instance, we could estimate the number of technicians the oil change shop needs to service demand on a Saturday afternoon.Respond to the following questions:What is a random variable? How would you differentiate a discrete from a continuous random variable?A laptop manufacturing company has implemented a 2-step process to test the quality of each production batch. In the first step, a technician randomly selects 15 laptops from the batch and determines whether they meet specifications. The batch is considered acceptable provided no more than 1 laptop fails to meet specifications. Otherwise, the entire batch has to be tested in the second step. Historical data shows that 95% of the laptops produced adhere to specifications.Reflect on the following in a minimum of 500 words:What are the 4 characteristics of a binomial experiment?Can we use a binomial distribution to model this process?What is the probability that the entire batch unnecessarily has to be tested if in fact 95% of its laptops conform to specifications? (Hint: Use Excels =BINOMDIST() function to find the probability)What is the probability that the batch is incorrectly accepted if only 75% of its laptops actually conform to specifications?What situations in your organization might this type of analysis apply to? Explain.