Okay so this is for the mid-term exam, the professor gave us the questions and we need to make the research and prepare our selves. The questions should be answered in a briefly way, no need for essays, they just need to be straight to the point, no essay to write, its just short answers for the question. I will attach the question on a word document, please excuse my writing, but I was just trying to gather as much information as I could from the professor as he was telling us the questions so I was writing fast but I managed to write a lot of things and made the questions as simple as possible for you to understand. For question 1, I will send you my SWOT analysis that I did. I will also send you the presentation of the review mid-term exam so you can have a look at it and get an idea. Please don’t hesitate to contact me with any questions. Don’t let the length of the questions fool you, he told us that he doesn’t want anything long, its short answers straight to the point, he even said that if you know everything then you can just finsih the exam in 10 minutes so that’s how simple he wants the answers, but they need to be correct and to the point!
How to use the SWOT analysis:
Going back and using the SWOT analysis that you have done, you will only be responsible for putting on the paper two points from each of the section and then coming up with 4 implications of that SWOT analysis, in other words interpreting those results. So you’ll write down 2 Strengths, 2 Weaknesses, 2 Opportunities and 2 Threats on the paper and then choose one of each section, and come up with the interpretation of that point means, or what the company should do as a result of that weakness, strength, threat or opportunity. Need to think about what it means, how the company can use this information. What I will judge you on is whether you are able to show a direct relationship between SWOT analysis and your interpretation of what that company should do. Good marketers know how to get that information and make decision and choices based on that information and that’s what I am asking you to do.
Strength: The ability to offer low priced deals to families
How can you use that information?
Continue to capitalize on that strength by offering promotions such as deals for families that might include several different menu items
In other words their ability to craft low priced food for families translates to an actual promotion and you just come up with the promotional idea.
Opportunities: Opportunities to add healthy items on their menu as a results of consumer trend in eating healthy food
How can you use this information?
Create a veggie burger
Segment and messages:
Identify a brand and describe the segment, come up with a product, a message and media implications based on that segment. How can you relate the description of your segment of your choosing?
The Segment should be in real depth, need to say everything, from demographics to psychographics, interests, what are they doing, what could be their hobbies etc based on the segment you choose.
For product implication we can do 2 things: introduce a new product that this brand should create or changes to an existing product, it can be an addition of a feature or it could be augmenting the product in some way that would be more appropriate for this target audience for this specific segment. (example Apple can create a gaming console and compete with Sony PS4 and Xbox
I want to be able to see the relationship between that message and the segment, if your thought is to look up some of their messages that’s not going to work, you need to come up with a new message that directly relates with the segment, meaning that there is something to your description that leads me to understand why you chose that message.
The message has to be related to the segment, all of these implications.
Is the type of media that this segment will be most likely to use, Example: If it’s a person who likes bicycles then the media option would be to advertise on bicycle magazines, if its someone who is tech savvy and online all the time and is gaming product then you might want to choose online banner advertisers on websites that are gear towards that individual.
Need to draw a direct relation with your segment and the product, messages and media implications.
Developing a segment is no good and is useless unless you can do these things
You don’t have to build a new segment, you can just describe the existing segment. Choose a brand, describe their segment, choose a single segment for that brand and describe it in details.
The customer when purchasing a product goes through five stages: Problem Recognition, Information Search, Evaluation of Alternatives, Purchase Decision, Post Purchase evaluation
Have to represent how our customer is going through these processes and then come up with a marketing tactic that will align with this process. So in other words you need to choose your brand and go through this process and come up with a marketing tactic.
Chase Freedom Card:
Problem recognition: (What might be a problem that could be recognize that will trigger the need for the chase freedom card?)
They applied for loan and had no credit score
So at this stage we want them to think of chase freedom card so what might be a tactic at this stage of process that we would be thinking about? Potentially to create awareness
Promotional event or advertise on tv, in general advertise
The customer will go to google and find information
Tactic: What should Chase freedom do?
Buy SEM to receive top position on google searches
Evaluation of Alternatives:
The customer looks at different websites
Tactic: What should Chase do?
Create a better website, or creating content on your website which is convincing this customer that you have the best card
Post Purchase evaluation:
The customer is thinking whether they are happy with their card, using it, calling customer service and talking to my friends about my new card
Tactic: What can chase do?
Chase will send you something in the mail, welcoming you, sending you material to make sure you are comfortable with your decision
Come up with a brand/product show me what the customer is doing and what the company tactic will be as a marketer to make sure I am reaching that customer during that phase
For this question I had an assignment which I handed in and I did a customer analysis for Playstation 4 and if you can please use this and come up with tactics. You can also put whatever you believe is right:
Problem Recognition: Need to upgrade from Playstation 3, entertainment purposes for like playing video games
Extensive research: The buyer/gamer does extensive research online on technology websites
Evaluation of alternatives: Compares the competitors, Xbox One, Wii U
Purchase decision: (For the exam we don’t have to do it so ignore this)
Post purchase Evaluation: (I did it wrong so please you come up with it)
Then once you are done with this 4 points, for each one find a tactic on what PS4 should do in order to win these customers.
Describe that brands Ideas Question 4
Come up with a brand, describe that brands idea, what is that brand about and you will offer 3 execution elements on how that brand comes to life. You will show that you not only understand how to define a brands promise or position but then how that position comes to life with 3 execution elements.
Disney comes to life how? They have these characters running around the park entertaining you, all the Disney employees are well trained on the brand and they treat you really well and how to create fun and excitement in their theme parks and they decorate them with these amazing different characters that are all about creating entertainment and fun so everything that is Disney related is all about family entertainment and fun. You see that idea translated in everything they do.
Target example: They deliver on their brand in the way they create their store experience in the way they price the products
Nike example: Nike is about performance, all their products is about having a better performance
Nordstrom: Is about providing the best service you can find in a retail environment so what do they do? They train their employees to provide the best service, the employees deliver on the brand idea
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