Princjples of Marketing Assignment

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timer Asked: Jul 22nd, 2014

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This must be completed in APA with all requirements of the attached being meet.  DO NOT BID IF YOU CANNOT COMPLETE THIS!  MKT361 Semester Assignment Summer 2014.docx

MKT 361: Principles of Marketing Semester Assignment: Summer 2014 Due Wednesday July 23 at 11pm General Information This assignment is due by 11 PM on Wednesday, July 23. This overall assignment will be graded as 100 points, and if it is turned in late, each day late will deduct 5 points from the assignment grade. No submissions will be accepted after Thursday July 31st and will result in a 0 for the assignment. It is not “difficult” work, but it is extensive, so you will need time and planning to successfully complete all the parts of the assignment. This assignment is to be completed completely by yourself using your own current work—this is not a “group” activity, no other students currently or previously enrolled in any section of Principles of Marketing may assist you, and you cannot submit previously used work from this or any other course. By itself, this assignment is worth 18% of your overall final grade in this course. This obviously makes this assignment very important to your overall grade. There is no particular required length for the overall paper—just make sure that you completely answer all questions and address all issues in each part of the assignment. You are encouraged to break the paper up into sections as I have assigned them, using sub-headings to separate them for easier comprehension. For instance, “Part 1: Social Media” would be your first section. To be successful in this assignment, a large part of that is being conscientious with your work. • Turn the assignment in on time! Don’t lose points for no reason! • Be sure to thoroughly answer/address all parts of the assignment. Pay attention to and answer any time I ask a question. If you skip a question, don’t provide required information, etc., obviously you are going to lose credit for it. Check and re-check that you have totally completed each part. Don’t add “fluff” just to make an answer seem longer—I care about the quality of the work, not the quantity. • Cite your sources. Any time you gather information for an answer from the book, an article, a website, etc., be sure to properly cite the reference both in the body of your answer as well as formally in a works cited page at the end of the assignment using APA citation. This also applies any time you “interview” or otherwise interact with a person as part of an assignment (such as during the taste test portion). Be sure to record their name as well as the date you interviewed them in the works cited page. Be sure that all work is your own. Plagiarism will not be tolerated and can result in serious consequences. Refer to APA style and use it consistently. Two good APA references are the Purdue OWL: https://owl.english.purdue.edu/owl/resource/560/01/ and the Cornell Library site: https://www.library.cornell.edu/research/citation/apa. • Check your grammar. Be sure to carefully proofread your work for typos, misspellings, grammatical errors, etc. It often helps to get someone else to read your work to catch mistakes you may overlook in your own writing. This is a silly reason to lose points on otherwise good work. Part 1: Social Media (15 points) A. Why do marketers need to care about social media? Do a web search (Google, Bing, Yahoo, DuckDuckGo, etc.) about “social media,” “social networking,” “social media marketing,” or “social network marketing.” Find two articles that address why social media is an important part of marketing. Make sure they are no older than 2012 to help make sure the content is current. Summarize these two articles in your report of roughly ½ page each. Be sure to properly cite your sources. B. What social media do you use? List all social media/social networks that you use or are a member of. I expect at least three networks. For each network, define whether you are (approximately): 1. 2. 3. 4. 5. 6. Very active member utilizing it once every day or two Active member utilizing it at least once a week Semi-active member utilizing it every two weeks or so Occasional member utilizing it once a month or so Infrequent member utilizing it a handful of times per year Inactive member: used to use it more frequently but have “abandoned” it for whatever reason Do you notice advertising on these sites? If so, do you care that they are using this platform to try to market to you? Do you ever click on the ads you may see? Some of the most popular networks to jog your memory include: Facebook, Twitter, LinkedIn, YouTube, Google+, Pinterest, Instagram, XboxLive, Playstation Network, Whisper, Flickr, MySpace, FourSquare, TripAdvisor, Yelp, deviantART, Etsy, Epinions, Epicurious, StumbleUpon, Digg, and a plethora of others on just about every topic imaginable. Part 2: Brand Product Lines and Mix (20 points) Refer to Chapter 10, Learning Outcome 3: Product Items, Lines, and Mixes in our MKTG textbook. Specifically study Exhibit 10.1: Campbell’s Product Lines and Product Mix. Notice how the Campbell’s company has multiple product lines spread horizontally (the Width of the Product Mix), and that each line then has various products listed vertically within it (the Depth of the Product Lines). Construct a similar table for two brands of your choosing in two different “product categories.” Make sure that each brand has at least four product lines in its product mix and that each product line has at least three product items within the line (so a total of at least twelve individual product items). When I say “product categories,” this is not the same as Types of Consumer Products listed in Chapter 10, Learning Outcome 2. For instance, Campbell’s would be primarily categorized as shelf-stable food and beverage, but that would be inherently different from say a quick service restaurant brand even though they still serve food and beverages. And obviously food and beverage is vastly different from automobiles, electronics, furniture, cleaning products, firearms, etc. Essentially, make sure your two brands are not competitors in the same category. List some of the brand’s major competitors for each product line. Why do you think these brands have so many different product lines and items? Are the different product items easy extensions of an existing product or a radical new design? Do you think it’s more important for brands to be innovative or to continue to expand already successful lines? Be sure to properly cite your sources of your information: company websites, actual in-store observation, etc. Part 3: Summer Travel (25 points) Nearly $600 billion was spent in the US by both American and international leisure travelers in 2012 (http://www.ustravel.org/sites/default/files/page/2009/11/US_Travel_Answer_Sheet_March_2013.pdf). The summer months are definitely some of the most popular times for Americans to travel both domestically and abroad. Travel agents used to be the gateway to all things travel, but there has been a monumental shift in the industry forcing many of these companies out of business or to evolve into new formats. Instead, the internet has empowered consumers to do it themselves and cut out the travel agent intermediary. It is estimated that Americans booking travel online will hit an alltime high this summer of roughly $61 billion (http://www.usatoday.com/story/dispatches/2014/05/29/summer-travelspending-forecast/9636671/). To examine the power of the internet when it comes to booking travel and how it coincides with Marketing, you will go through the search process of booking a trip online. Essentially, you are going to virtually plan a vacation as completely as possible online. A. Choose a destination This is entirely up to you. The only requirement is that you will fly to this destination so obviously it makes sense if it is not immediately nearby your home. For simplicity, I would suggest keeping it within the United States as the search will likely be much easier to complete, but you may choose an international destination if you wish. What kind of traveler are you? Do you prefer to plan out every detail and experience you want to have before hand? Or do you just want to relax and see what happens? Are you concerned about achieving specific goals while on vacation— go to a certain amusement park, catch a particular show, eat at a particular restaurant, etc.—or do you just get there and let the rest of the time work itself out? B. Search First, you will search for your flight online. Choose an online travel search site. Popular options include: www.expedia.com, www.travelocity.com, www.orbitz.com, and www.kayak.com. There are also many others, but these are some of the “heavy hitters” in the industry. As a special note, Kayak touts themselves as being a “one-stop shop” that searches other sites for you so you can save time and compare. This may or may not appeal to you. Using one of these search sites, pick your departure and arrival airports. Choose the closest major airport to your home. For instance, Birmingham is probably the closest to Columbus. Otherwise, Jackson or Memphis could also be close contenders. Pick a travel date at least one month in the future, or any time after that you choose. Make your trip last at least 4 days. So for instance, if you choose to depart Birmingham on Friday September 12th flying to New York City, you would return Monday September 15th or later. Number of people is up to you—you by yourself, other adults, children. Just be sure to remember what you have chosen as you will keep using the same search dates and travelers. Make the search and evaluate the results. What criteria will you use to judge which flight to choose? Lowest cost? Number of stops? Airline brand? Time of day? Is there any mention of number of seats available at this price? “Choose” at least one flight and record its airline, flight number(s), times, stops, and price. Be sure to go far enough in your search that taxes and fees are added and you have your final total. Taking this information, now try to find the same flight a more direct way to compare. For instance, if you used Expedia and chose a Delta Airlines flight, now go to www.delta.com and repeat the search. What similarities and differences do you notice? Is the price similar? Is there any mention of number of seats available? Do the same for your hotel accommodations. Search sites will often allow you to “bundle” flight and hotel, so if you want to include your hotel search along with your airline search in the previous sections, that is acceptable as well. How will you choose your hotel? Price? Location? Amenities? Brand? Using your online travel search site that you used for your flight, also choose your hotel—record its brand, location, the type of room, and the price. Then try to find it directly as well. For instance, if you used Expedia and found a Holiday Inn Express, now go to www.holidayinn.com (it will likely redirect you to its parent website) and perform the same search. What are the similarities and differences? Price? Amenities? Number of rooms available? Finally, you will use the power of crowdsourced ratings and reviews to finish out your trip. Did you notice ratings and reviews provided for your hotel for instance? Go to www.tripadvisor.com and search your hotel you previously chose. How does it rate? How does it compare to other options in your destination city? Still at TripAdvisor, seek out at least two restaurants and at least two entertainment options for your trip. Entertainment could include a variety of activities-tours, concerts, shows, museums, amusement parks, zoos, etc. What sort of restaurants and entertainment would you like to experience? How do your choices rate on TripAdvisor? Do you feel that you should or even could plan a trip around these ratings? Do you put a lot of trust in these reviews provided by complete strangers? Does a place or experience you think you might like now seem not appealing due to negative reviews and ratings? Do you feel you would rather be “adventurous” and not even view these sort of listed reviews? C. Analysis What did you learn from this exercise? Have you performed searches like this before or was the process new to you? How user friendly were the websites you used? Did you enjoy being able to search and compare things yourself, or would you rather have someone do it for you, such as a travel agent? Would you be willing to pay a higher price for someone else to help you—if so, how much more? Did you notice advertisements on the pages you visited? Part 4: National Brands vs. Private Brands Blind Taste Test (40 points) A “national brand” or “manufacturer’s brand” is a widely-recognized and usually well advertised product brand name found in a variety of distribution outlets. Examples include Campbell’s soups, Coca Cola beverages, Ritz crackers, Dawn dish soap, Solo cups, Dewalt tools, etc. An overall umbrella company (the manufacturer) often owns these particular brands: Coca Cola the company owns Coke, Diet Coke, Sprite, Dasani, etc., and Proctor and Gamble owns Dawn, Gillette, Tampax, Tide, Pampers, Crest, Charmin, etc. A “private brand,” “private label,” “generic,” or “store brand” is a brand owned and sold by a particular store—it is basically only found in that store and not in other distribution outlets. Private brands are almost always lower priced than their national branded counterparts. Examples include Walmart’s Equate brand over-the-counter medications as well as their Great Value brand food items and Sam’s Choice brand beverages; Publix supermarkets’ Publix brand, Target’s Up and Up brand, Kroger’s Private Selection and Kroger Value brands, etc. Find two articles that explain some of the differences between, benefits, and/or problems associated with private or generic branding versus national brands. Make sure they are no older than 2010 to help make sure the content is current. Summarize these two articles in your report of roughly ½ page each. Be sure to properly cite your sources. Why do stores go to the time and effort to develop, manufacture, distribute, and market their own varieties of products instead of just selling the national brands? Are there actually quality differences between the two? A. Choose competing products—national and private Choose two competing edible products from the same category—one national brand (for example: Coca Cola’s Coke Classic) and one private brand (for example: Walmart’s Sam’s Choice Cola). Be sure to purchase a sufficient quantity of the products to successfully perform the Blind Taste Test portion. This could be any readily-available food or beverage items, from any store of your choosing, as long as you can buy the product essentially “side-by-side” on the shelf in one particular store—meaning, don’t buy your national brand from Walmart and then buy your private brand from CVS— buy from the same store! Other ideas include, but are not limited to: cereal, canned goods, frozen meals, snacks, snack cakes, frozen desserts, sodas, sports drinks, juice, baked goods, soups, chips, crackers, cookies, ready-to-eat meals, oatmeal, etc. Avoid plain bottled water as besides the packaging there is naturally very little way to possibly distinguish a difference between brands. Also, do not use medications or alcohol—only food or beverages. Be sure to choose products that are as exactly similar as possible: portion size, flavor, color, preparation method, etc. Create a table to detail the similarities between them. The Cost Per Ounce for each product should be either available on the price tag on the store shelf or can be easily calculated using the total price for the product divided by the total ounces purchased. For instance, if you go to Walmart and buy a 2 liter bottle of Coca Cola for $1.28 and a 2 liter of Sam’s Choice Cola for $.88, you would divide each of those prices by 67.6 fluid ounces (readily available on the label of the product) and multiply by 100 to make it into dollars and cents. You will also detail differences in the primary Nutrition Facts for each product. For example: Purchased at: Walmart Coca Cola Walmart’s Sam’s Choice Cola Cost Per Ounce 1.9 cents (1.28/67.6*100) 1.3 cents (.88/67.6*100) Serving Size 12 ounces 8 ounces Calories 140 110 Total Fat 0g 0g Sodium 45mg 25mg Total Carbs 39g 29g Sugars 39g 29g Protein 0g 0g Vitamins and Minerals (listed ~ ~ individually in the table) Notice that the Sam’s Choice is listed at 8 ounce servings while the Coca Cola is 12 ounces. Also obviously sodas do not provide much in the way of nutrition, especially vitamins and minerals, but other foods you may choose may. B. Blind Taste Test You will administer a blind taste test of a sample of each product as well as a questionnaire to 20 friends and/or family members. They may include other students, but they cannot be enrolled in any section of MKT361 Principles of Marketing this semester here at MUW. You cannot complete the test yourself. Try to get a mix of different people demographically—age, sex, race, marital status, children status, etc. Check beforehand that your subjects do not have any food allergy to the product you are testing or its ingredients. You will administer the test using the blind procedure—meaning the test subject is not to be told the brands being tested until after the entire test and questionnaire is completed. You don’t actually have to blind fold them, it just means don’t tell them what brands they are eating. Prepare two sample servings using separate plates, cups, bowls, etc.—one for the national brand and one for the private brand. It does not have to be a full “serving size” as suggest by the Nutrition Facts, but it should be several pieces of cereal, chips, crackers, etc., or an adequate portion of a beverage so that a few sips could be taken. The subject will taste each brand more than once during the test. Label each plate/cup/bowl as either A or B. It doesn’t matter whether the national or private brand is A or B, but keep track on your own which is the national and which is the private brand. Again, don’t tell the subject which is which! Conduct the taste test using the exact procedure and questionnaire below. Record their answers immediately during the test so that you ensure the accuracy of your response. Be sure to thoroughly familiarize yourself with the procedure and questionnaire prior to testing to ensure it is conducted accurately. Subjects must answer all of the product attribute questions but may choose to not answer any of the demographics (but you do need to try to ask each one and allow the subject to choose not to answer each one individually). If a demographics question is not answered, mark N/A on your report for that question. Reporting the Results Summarize your results. This means I do not need to see every single answer you have recorded from each respondent. Tables and graphs are especially helpful for this kind of presentation. Include the demographics information as well. Remember to cite who you interviewed and the date as your sources on your works cited page. Here are some (completely fictitious) graph examples just to get you thinking. These can be inserted in Word with Excel handling the data computations. 70 60 50 Overall Cola Choice 40 Sam's 30 Sam's Coca Cola Coca Cola 20 10 0 Males Females What did you learn from this project? Do you see any correlations? For example, did all the women prefer the national brand, did parents of young children prefer the private brand, was there a difference in age, education level, or race preferring one or the other? What did you learn about national versus private brands from this project? Did you repeatedly get a similar response (A was too salty, B didn’t have as nice a color, etc.) that would be Marketing Research that a brand might use to improve their product in the future? Present your findings. You will prepare a short 2-3 minute presentation that summarizes your testing and results. It must be at least 2 minutes long, but can go over 3 minutes if needed, but try to keep it reasonable. You will record yourself presenting on a smartphone, webcam, whatever works for you and then upload it to YouTube and include the full URL web address in your paper. I know if you use a smartphone, you can usually send the video straight from your phone to YouTube as long as you already have a YouTube account set up. As part of the online student authentication process, you are also required to show in your video a photo ID with your name on it. Please block out any other identifying information: driver’s license number, address, weight, etc., using your finger or a piece of tape or whatever. You may leave it as Public or are free to make it Unlisted if you would like, just be sure to provide me with a working link. I have posted an example video for you on YouTube that both shows you what I mean and hopefully makes the requirements a little more clear as well. http://www.youtube.com/watch?v=X5CTb9ppd_I If you need help in using YouTube, there is a Blackboard course that can introduce you to it and explain all of this in great detail. In Blackboard, in your Courses, you should see a course entitled YouTube_MUW. Click on it and go through the instructions if you are new to YouTube or have questions. Again, the requirements are that you complete your taste test, summarize your findings, and then create a 2-3 minute presentation video that includes a photo ID, what products you tested, and your summarized findings. You will upload that video to YouTube and provide me with a link to it in your report itself. C. Testing Procedure 1. Have the subject taste the first product- A. Let it clear fully from their mouth. They may drink some water if desired. 2. Have the subject taste the second product- B. Again, let it clear/drink water. 3. Ask question 1 on the questionnaire. 4. Have the subject taste A again. Clear taste/drink water. 5. Ask questions 2, 3, and 4 on the questionnaire. 6. Have the subject taste B again. 7. Ask questions 5, 6, 7 on the questionnaire. 8. Finally, ask all the remaining demographics questions on the questionnaire. D. Questionnaire Product Attributes 1. 2. 3. 4. Do you prefer product A or B? Why? What do you dislike about the product you just tasted (product A?) What do you like about the product you just tasted (product A?) Please evaluate the product (product A) on the following characteristics a. Color b. Taste c. Smell d. Texture e. Size f. Shape 5. What do you dislike about the product you just tasted (product B?) 6. What do you like about the product you just tasted (product B?) 7. Please evaluate the product (product B) on the following characteristics a. Color b. Taste c. Smell d. Texture e. Size f. Shape Demographics Information 8. Are you…? a. Married b. Divorced c. Single 9. How many children do you have? a. None b. 1 10. 11. 12. 13. 14. 15. 16. c. 2-3 d. 4 or more What is the age of your youngest child? a. I do not have any children b. 5 or under c. 6-10 d. 11-14 e. 15-18 f. Over 18 What is your sex? a. Male b. Female What is the highest degree or level of school you have completed? If currently enrolled, mark the previous grade or highest degree received. a. Not completed high school b. High school graduate c. Some college d. Associates degree e. Bachelors degree f. Graduate degree Are you currently…? a. Full-time employed b. Part-time employed c. Unemployed d. Retired e. Homemaker f. Student Please specify your race. a. American Indian or Alaska Native b. Asian c. Black or African American d. Native Hawaiian or Other Pacific Islander e. White or Caucasian f. Other Are you of Hispanic descent? a. Yes b. No What is your age? a. Under 18 b. 18-21 c. 22-25 d. 26-30 e. 31-40 f. 41-50 g. 51-60 h. 61 or over

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