MKT 571 Course Experience Tradition / mkt571edu.com

MKT 571 Course Experience Tradition / mkt571edu.com
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MKT 571 Final Exam Guide (New) 1. Which component of a marketing audit includes major developments in income, prices, savings, and credit that affect the company? Technological Political Economic Cultural 2. Marketers must see themselves as benefit providers. For example, when a shopper purchases new shoes, he or she expects the shoes to cover his or her feet and allow him or her to walk unobstructed. This is an example of what level in the consumer-value hierarchy? Core benefit Pure tangible product Basic product Potential benefit

MKT 571 Final Exam Guide 1) Which of the following is most closely associated with a proactive marketing orientation? A. It involves delivering superior value. B. It is about understanding and meeting customers’ expressed needs. C. It represents the “make and sell" philosophy. D. The marketer focuses on the customers’ latent or hidden needs. 2) Marketing __________ is the art and science of choosing target markets and getting, keeping, and growing customers through creating, delivering, and communicating superior customer value. A. internally B. management C. segmentation D. integration

MKT 571 Week 1 Assignment Researching Marketing Questions Purpose of Assignment This assignment is designed to help students analyze and interpret primary and/or secondary data and research. First, students will be provided with a marketing report that allows for preparing basic executive level data insights. Second, they will be allowed to pick a company and product or service. This assignment will help prepare students for the development of their marketing plan. Students will be creating a marketing plan (refer to Marketing Plan and Outline document) so they may want to choose a company and product or service that has data readily available or where they can use demographic/psychographic data to provide insights.

MKT 571 Week 1 DQ 1 What have been the major marketing trends in the last decade? What new marketing trends do you anticipate in the next 10 years?

MKT 571 Week 1 DQ 2 UOP has been the darling of Wall Street during the last few years. They offer some of the highest profit margins of any company in America today. And UOP has had a fine record of growing both revenue and profits. They are, by far, the largest private university in the Country. From a marketing standpoint what do you think UOP is doing well? What areas do you think can be improved?

MKT 571 Week 1 Individual Assignment Qualitative Focus Group Research Discussion Guide (2 Papers) This Tutorial contains 2 Papers Select a local company and one of its products or services. Create a 1,400-word Discussion Guide for your selected product or service to be used during the course of a Focus Group that researches your product or services target market. In your plan, be sure to do the following: Identify a problem or opportunity that may be facing that product or service. Identify a primary target audience for that product or service in terms that relate to the audience's demographics, needs, or preferences as those relate to the product or service, and behaviors related to the category of or the specific product or service. The better you define them, the better the screener will be at recruiting the right people for the focus group.

MKT 571 Week 2 Assignment Understanding Target Markets Purpose of Assignment To develop effective relationship marketing, a company must first understand its targeted consumers' buying influences and behaviors. This week's assignment is the first part of the development of a marketing plan. It provides the foundation of the marketing plan and introduces the student to a variety of diagrammatic tools for understanding a business. Assignment Steps To develop effective relationship marketing, a company must first understand its targeted consumers' buying influences and behaviors. In Week 2, create the Research section of your plan. Create the research section of your marketing plan in minimum of 700 words. Include at least 3 elements of the Research List of Topics (see list below): Research List of Topics: Primary Research

MKT 571 Week 2 DQ 1 This week we are reading about "branding". Here is a recent article on the subject. Comments please.

MKT 571 Week 2 DQ 2 We are entering a real crowded and mature market with our CNN product. (Read class case introduction). Here is a two part DQ. 1. Describe the overall strategy we should adopt to maximize our potential for success. 2. In one sentence write your positioning statement for the product

MKT 571 Week 2 Individual Assignment Segmentation Techniques (2 Papers) This Tutorial contains 2 Papers Go to the Strategic Business Insights website. Take the VALS Survey. Have the results sent to you by . The results are sent in a Microsoft® Word document showing your primary and secondary VALS segments. Go to the Nielsen website. Explore the Nielsen Segmentation Methodology, the featured and other segments, and then click on Zip Code Lookup. Enter your Zip Code and the code provided and click Enter. A map showing your geographic area will pop up along with information on the distribution of people by age, race/ethnicity, marital status, and presence of children. On the left will be three options: PRIZM, P$CYCLE, and ConneXions (three segmentation techniques based on Zip Codes, Wealth, and Connectivity).

MKT 571 Week 2 Team Assignment What Is A Marketing Plan? (2 Papers) This Tutorial contains 2 Papers Develop a 1,050-word marketing plan discussion which includes the following: Discuss what a marketing plan is and is not. Examine the elements that should be included in a marketing plan. Examine the importance of a marketing plan. Discuss how a marketing plan can be applied to a new product launch. Discuss ways to determine goals, strategies, tactics, and objectives for a new marketing plan. Cite a minimum of three scholarly references in addition to the text. Format the paper consistent with APA guidelines. Click the Assignment Files tab to submit your assignment.

MKT 571 Week 3 Assignment Promotion and the Product Life Cycle Purpose of Assignment All products/services go through a life cycle of NPI (new product introduction), growth, maturity and decline. These various stages affect the marketing strategy and promotional efforts. In Week 3, you will incorporate a product strategy that addresses at least 3 areas of the product life cycle. The primary objective of this assignment is to allow the student to demonstrate an understanding of the factors that can affect the launch of a product or service. A secondary objective is to understand the differences in a product launch in the U.S. (domestic market) and an international market. Assignment Steps Generate a minimum 700-word product strategy in Microsoft® Word. Incorporate a product strategy that addresses the following: At least three areas of the product life cycle (NPI-new product introduction, growth, maturity and decline).

MKT 571 Week 3 DQ 1 What do you think are the most important characteristics/attributes of successful sales people? Discuss BTW Sales is part of the marketing function.

MKT 571 Week 3 DQ 2 You are working at Johnson & Johnson and one of your responsibilities is to set prices for new drugs. The firm has invented a cure for Aids and is protected by patent. The cost for the one time injection that cures the disease is $100 and includes amortization of the development cost (The $1 billion cost to develop the product is included in the $100) and the cost raw materials. Assume that insurance companies currently spend $200,000 to treat an Aids patient. Assume 20% of the world population is covered by insurance or socialized medicine. What price do you charge for the treatment? Defend your answer. Consider all your stakeholders. (Including your stock holders) Hint. You won't find the answer to this hummer in your text. Also don't spend too much time trying to quantify your answer. I'm looking more for your top of mind solution to this one.

MKT 571 Week 3 Individual Assignment Career Connection: Customer Relationships and Satisfaction (2 Papers) This Tutorial contains 2 Papers You are a marketing manager for a local company and you are developing a plan to improve customer relationships and increase satisfaction. Select one of the following types of local companies: Florist Veterinarian Health/Natural Food Store Accounting/Tax Preparation Create a 2,100-word Customer Satisfaction Plan in which you include the following: Explain how each type of business might segment the local market based on consumer/business demographic information, behaviors, psychographics (attitudes, interests, and lifestyle), geography, and/or product or service benefits.

MKT 571 Week 3 Team Assignment New Product Launch Marketing Plan, Part 1 Create a 1,400-word Product Launch Plan in a Microsoft® Word document. The Product Launch plan will be for two countries. Select your home (domestic) market and another for the international market. Do not select the U.S. and Canada, the U.S. and Britain, or Canada and Britain as your combinations. While the audiences should have the same need for the product or service you come up with, they should have distinctive cultures and habits. Include the following in the Product Launch Plan: Define the product or service being offered. Describe the product or service offering. Assess the market needs for this product or service. Choose an anticipated target audience and include a description. Defend your choice of product or service. Develop a brief SWOT analysis.

MKT 571 Week 3 Team Assignment New Product Launch Purpose of Assignment Understanding the various phases of a product or service lifecycle is critical when addressing a market. If your product is in decline and the competitor's product is in growth, your strategy for the product or service will be different. This exercise will enable students to demonstrate an understanding of both their product/service life cycle stage and a competitor's product. It is designed to help students explore product mix strategies in the various phases of a product or service life cycle. This tool is critical when addressing a market penetration, market saturation or product/service decline. Assignment Steps Resource: Plunkett Research Online located in the University Library. Design a minimum 1,050-word New or Product Refresh Product Launch Plan in Microsoft® Word. The product launch plan will be for two markets: U.S. and one international market.

MKT 571 Week 4 Assignment Price and Channel Strategy Purpose of Assignment This assignment is designed to help students analyze and understand how price setting and go to market (distribution) are interrelated and affects the profitability and growth of the business. It has been designed to be a short overview on purpose: the concepts of pricing and distribution are complex and a general understanding is what should be absorbed in one week of study. Assignment Steps Construct a minimum 700-word plan for setting price and a distribution model (place/distribution) in Microsoft® Word. This plan should address at least three elements (from the Price and Place/Distribution list below) of the Price and Place/Distribution section of the marketing plan.

MKT 571 Week 4 DQ 1 Let's assume that our overall objectives for the ReCharge bar is to generate $300 million in year 1 sales and capture the #1 market share position in the U. S market. Describe your Distribution strategy to allow these lofty goals to be accomplished.

MKT 571 Week 4 DQ 2 Let's assume that The Recharge Bar has been wildly successful and we have achieved all our major objectives in the U. S. market by the end of year three. Should we consider expanding our distribution globally? What are some of the major factors that we need to be aware of and plan for? In other words, what makes marketing on a global basis more difficult than simply distributing our product nationally?

MKT 571 Week 4 team Assignment New Product Launch Marketing Plan, Part 2 Create a 1,400-word Market Segmentation Plan for the New Product/Service Launch Marketing Plan. Include the following for both the domestic and international markets based on the team's research: Describe the target market (audience) profiles, key buying behaviors, and decision motivators for the consumer target market. Note: Do not pick different target markets for the domestic and international markets. Detail the steps involved in a new product/service development. Discuss the stages of the new product/service life cycle and how to manage each stage. Include tactical plans for the 4 Ps at each stage. Develop a pricing strategy for the new product or service offering. Differentiate the new pricing strategy for the practice of setting the price. Why is this an important distinction?

MKT 571 Week 5 Assignment Marketing Communication and Brand Strategy Purpose of Assignment This assignment is designed to help students understand the interrelationships between brand strategy and the communication message to the target audience. It is a continuation of the marketing plan and students should review the Week 3 Learning Team Assignment for assistance in product brand strategies the team has developed. Assignment Steps Develop a minimum 700-word branding strategy and marketing communication plan in Microsoft® Word. This document should address at least 5 elements of the Situational Analysis and the Product, Place/Distribution, Promotion, and Price Strategies (modified below) sections of the marketing plan (from the Situational Analysis and the Product, Place/Distribution, Promotion, and Price Strategies lists below).

MKT 571 Week 5 Career Connection Integrated Marketing Communication and Marketing Mix – Client Pitch (Part 1 and Part 2) Select a current product or service with which you are familiar. This product will be used to pitch a new integrated marketing communication and marketing mix to a client who is the marketer or producer of the product. Review the current marketing mix including the communication channels used. Part 1 Create a 12-slide presentation including detailed speaker notes that will act as the script of a presentation. Include the following in the presentation: Evaluate the effectiveness of the existing marketing mix (elements of the 4 Ps). Recommend a new marketing mix strategy based on any weakness(es) you discovered. Examine the company's current positioning strategy.

MKT 571 Week 5 Career Connection Integrated Marketing Communication and Marketing Mix – Client Pitch (Part 1 Only) (2 PPT) Select a current product or service with which you are familiar. This product will be used to pitch a new integrated marketing communication and marketing mix to a client who is the marketer or producer of the product. Review the current marketing mix including the communication channels used. Part 1 Create a 12-slide presentation including detailed speaker notes that will act as the script of a presentation. Include the following in the presentation: Evaluate the effectiveness of the existing marketing mix (elements of the 4 Ps). Recommend a new marketing mix strategy based on any weakness(es) you discovered. Examine the company's current positioning strategy.

MKT 571 Week 5 DQ 1 Let's assume our objective for ReCharge is to deliver $300 million in first year sales and to capture the #1 market share position in the category by the end of our first full year of operation. (BTW. Setting marketing objectives prior to developing strategy is real important) What should our promotional budget be? Why? What methodology did you use to come up with your budget?

MKT 571 Week 5 DQ 2 Instead you're going to get a chance to get your creative juices going and to hopefully have some fun doing it. Each of you will demonstrate your creative approach to the ReCharge Bar by developing a TV commercial, radio spot or magazine ad. You don't need to get fancy with the graphics. You can verbally describe what is going on. But write the actual copy for your ad. You will need to restate your target audience and positioning. You won't be able to max out your points if you forget. (Please, no attachments in the main folder or mega files. If you want to share graphics drop it in the Chatroom.) Step out of the box, (And your comfort zone) and have some fun with it. I think we will have our own award ceremony. We will vote on the best ad.

MKT 571 Week 5 Team Assignment Media Options Purpose of Assignment The purpose of this assignment is to creatively illustrate traditional and new media options. An understanding of the target audience and effective communication for each is a desired outcome. It provides the Learning Team the opportunity to creatively illustrate traditional and new media options. An understanding of the target audience and effective communication for each is a desired outcome. Assignment Steps As a Learning Team choose a brand (different from the Week 3 Learning Team Assignment) and a related brand strategy. Create a Microsoft® PowerPoint® presentation, Prezi, or Vimeo video, etc. which illustrates one traditional media option (print, TV, radio, billboard, etc.) and one new (social media) media option for your brand and brand strategy. Each presentation should be a minimum of 7-10 slides or, if Prezi or Vimeo video, an 8-minute minimum.

MKT 571 Week 5 Team Assignment New Product Launch Marketing Plan, Part 3 Develop a 1,400-word Communication Plan including the following: Discuss the marketing communication channels available for the domestic and international markets. Evaluate the merits and drawbacks of the channel options in relation to the target audience, your product or service, and the timing of the launch phase. Select the communication channel that is best for marketing your product or service in the domestic and international markets. Discuss the reach of each communication channel. Cite at least three scholarly sources. Format your assignment consistent with APA guidelines. Click the Assignment Files tab to submit your assignment.

MKT 571 Week 6 Assignment Social, Ethical, and Legal Implications Purpose of Assignment The purpose of this assignment is to help students think through the importance of social, legal, and ethical issues that may arise with their product or service and the implications of decisions made within those frameworks. It is designed to help the learners understand ethical and legal issues related to marketing practices. This knowledge helps to prevent such issues when developing the marketing strategies in their marketing plan. The executive overview of the marketing plan is not a summary and conclusion, but an overview of what the plan entails and what it does not address. Assignment Steps Producing and marketing a product without regard to ethical, legal, and social considerations is detrimental to the overall success of any company.

MKT 571 Week 6 Team Assignment Career Connection New Product Launch Marketing Plan – Final Project Complete the final phase of your New Product Launch Marketing Plan. Consider your product launch to date, reflect on additional learning, and incorporate feedback to the Learning Team's Marketing Plan for your new product/service. Once all previous weeks' sections and the remaining parts of the Plan are compiled, it should be no more than 3,500 words. Be sure to include the following: • Create an Executive Summary of no more than 350 words. • Incorporate the Situational Analysis (Week 3). • Incorporate the Market Growth Potential and Competitive Analysis (Week 3). • Incorporate the Pricing, Segmentation, Target Market, and Positioning (Week 4). • Incorporate the Marketing Communications Plan - including media selection, discussion of reach and frequency, and costs (Week 5). • Calculate the financial information (including forecasting demand, break-even analysis, sales, promotional budget, and marketing expenses for three years by quarter).

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