Reference no: EM131595471
Assignment
Required Resources
Text Chapters
White, S. (2012). Principles of marketing [Electronic version]. Retrieved from https://ashford.content.edu
Chapter 3: The Marketing Mix: Product
In this chapter, we explore more about the concepts of products and its vital role in marketing strategy. Key concepts:
• Product strategy that captures customer value
• New product development and product life cycle
• Product when it's a pure Service
• Cause-related marketing and Social Marketing
In the product strategy case study, agritourism, learn how small farms were able to survive by thinking in a new way. By adding services like you-pick fruits and offering lodging, they created a new experience for customers and new sources of revenue.
Chapter 4: The Marketing Mix: Place
In this chapter, we'll explore the role of place in the marketing mix. Key concepts:
• What is "Place"
• Market Niche as a Place strategy
• Challenges marketers face in developing Place strategy
• Global approach to Place strategy
In the featured case study, T-Shirt Distribution, learn how a simple t-shirt travels through the distribution channel from raw cotton, manufacturing, and final touches (paint, sorting, colors and sizes) to the different retailers who bring t-shirts to the end user, the consumer.
Chapter 9.1: Putting Marketing in Context
In this section of chapter 9, we explore putting marketing in context. Key concepts:
• Analyzing the business portfolio
• Growth opportunities and market-product strategies
• Corporate and marketing department organization
Chapter 9.2: Analysis
In this section of chapter 9, we'll explore analysis. Key concepts:
• The goal of analysis
• SWOT analysis considerations
Multimedia
Forbes video interactive: Hear how t-shirt company Threadless crowdsources product and place ideas.
Recommended Resources
Deepen your understanding of this module's concepts by exploring the following:
An inside look at pricing and placement strategies used by retailers like Target...
McNichols, K. (2012). How retailers get you to buy. Retrieved from https://youtu.be/VcGR5dPpeME
An overview of pricing strategies...
Video Education America (Producer). (2009).
Pricing strategies [Video segment]. In The Four P's: Marketing Strategies. Available from Films on Demand database.
DISCUSSION 1: Product Life Cycle Stories
Introduction, growth, maturity and decline. Every product has a life cycle story waiting to be told. In this interactivity, you're going to document the story of a product, product category or brand that has progressed through the four product life cycle stages.
Guided Response:
1. Review section 3.2 in our text regarding product life cycles.
2. Check out our sample life cycle Storify regarding Polaroid Instant Cameras.
3. Identify an appropriate product, product category or brand.
o One that has moved through all phases of the life cycle
o Do a web search for dead brands or product fads. Or use this article about bygone tech (Links to an external site.)Links to an external site. for inspiration.
4. Research your brand/product/category to answer the following:
o The approximate timing of each life cycle phase
o The key events that marked the start or end of each phase
o Use at least three sources and refer to our example as needed.
5. Create and publish a new Storify that contains the following:
o One section on each lifecycle phase. Briefly describe the phase, when it occurred for your product and the key events that started/ended the phase.
o At least one image or video (product shots, advertisements, etc.).
o Three APA formatted citations. Reference your sources at the end.
o When done, copy the link of your published Storify story.
6. Post your Storify link to the discussion forum below.
o In the title of your post identify your product/brand/category.
o In the body of your post, provide your Storify link. See our example.
7. Respond to at least three life cycle Storifys for brand/products/categories other than the one you picked. Then answer this question:
o Of the products that you read about (including your own), which one best fits and least fits the classic life cycle curve? Explain why/how.
I Need Help! I Can Help!
Got questions about the product life cycle or Storify? Or maybe a helpful tip to share? Please post to our week 2 help forum, so others can benefit!
DISCUSSION 2
Market niches: Digital Show & Tell
Gender as Market Niche
Brands carve out niches in the marketplace by targeting a specific audience. And two of the most powerful tools a marketer has for making their target feel the brand is "for them" is how they position and package their Product and how they make use of Place - relative to both physical and virtual places of business.
You're going to select either the male targeted Sport Clips (Links to an external site.)Links to an external site. (a retail hair cuttery) or the female targeted Sister Snog (Links to an external site.)Links to an external site. (a London business social network) and describe how they target through the use of place and product. And while words are great, pictures are worth a thousand of 'em, so we're going to do digital show and tell using a cool new website annotation tool called BounceApp.
Guided Response:
• Check out our sample annotated web page (Links to an external site.)Links to an external site. for a high-end pet boutique.
o Mouse over highlighted areas to view associated commentary.
• Pick one of the two brands and visit their website
o Sport Clips (Links to an external site.)Links to an external site. or Sister Snog (Links to an external site.)Links to an external site.
o Identify a site page - landing page or otherwise - where place and/or product is featured.
- Remember; place encompasses physical and virtual locations
o Copy the webpage link from your browser.
• Screen capture and annotate the webpage using BounceApp (Links to an external site.)Links to an external site.
o See the step by step tutorial (Links to an external site.)Links to an external site.
o Identify at least three examples of how place and or product is used to reinforce the gender targeting.
o Write at least two sentences of explanation for each example.
o When done, copy the link to your annotated BounceApp page.
• Post your annotated webpage link to the discussion forum below.
o In the post title identify whether you picked Sport Clips or Sister Snog.
o In the body of post, provide your BounceApp page link. See example.
• Explore annotations for the brand you didn't pick. Respond to three of your peers, at least one of which must be for the brand you didn't pick. Comment on market niche strategies that those brands used/failed to use in promoting their website. Then answer this:
o Which brand do you think uses product and place more effectively to differentiate itself? Cite at least one reason why relative to both product and place.
o Feel free to pick a different "winner" for product versus place.
I Need Help! I Can Help!
Got questions about product or place? BounceApp? This activity? Have a helpful tip to share? Please post to our week 2 help forum, so others can benefit!
FAQs
Do I need to create a BounceApp account?
• You do not need to create an account but please do provide your first name and last initial when prompted so we can associate your commentary with you.