TYPE: INDIVIDUAL …. NOT GROUP
DUE DATE : The week of Nov 24, 2014 during class
QUALITY OF WORK: YOU MUST MAKE A SERIOUS EFFORT AND EXPLAIN IN DETAIL YOUR THOUGHT PROCESS AND REASONING. DO NOT TURN IN A PAPER THAT ONLY DISCUSSES EACH TOPIC WITH A SINGLE SENTENCE OR TWO. THIS IS A GOLDEN OPPORTUNITY TO POSITIVELY AFFECT YOUR GRADE…..
– Choose a product, service, or business in the industry of your choice. Make sure that there are at least two other similar (but with different target audiences ) products, services, or businesses in the same industry, so that you can compare the three. Examples: Theme Parks featuring Disneyland, Knotts Berry Farm, and Six Flags Magic Mountain or…. three magazines like Cat Fancy, Fortune, and Seventeen … or….car models like Tercel, an Xterra, and a Ferrari ….or…..food places like Jack-in-the-Box, Denny’s and Outback Steakhouse …. You get the idea???? Make up your own three.
– Discuss, in as much detail as necessary, the following topics:
1. Pick any product on earth that has ‘multiple’ segments and explain how you would attempt to position your product to appeal to all of those segments….remember in class we discussed “Lean Cuisine” frozen entrees and how some people buy them for nutrition, some for taste, some for variety, some for price, etc….. Use your own example.
2. Describe all of the segmentation variables that your three choices used to target their customers. How are they different from each other? (Geographic, Demographic, Psychographic, and Benefits Sought). A chart that supplements your discussion is necessary. This will be a long answer.
3. Discuss the Marketing Mix for all three products. ( Four P’s ) . Compare all three in detail …Make a chart of the four P’s… I expect this section to be quite extensive …. ( Long discussion and chart )
4. Visit the web sites for all three competitors. Give a synopsis of your findings and thoughts. Are they user friendly sites?
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