Identify some challenges and risks associated with launching a new product or service in that industry. Also profile some innovators and/or early adopters who are already seeking to create or acquire new products or services in that industry.

Assignment Task

Describe how to take advantage of these trends and identify current and predictable gaps in competitive offerings. Quantify the potential market by estimating the number of consumers who may have the need that you have identified and by estimating the product/service adoption rate.

Identify some challenges and risks associated with launching a new product or service in that industry. Also profile some innovators and/or early adopters who are already seeking to create or acquire new products or services in that industry.

Do you think firms that market products for children have any special ethical responsibilities when they advertise? Why or why not? Give examples that support your position. [MO1.5, MO1.6]

Answer the following essay questions.

A. Choose a specific industry (e.g., grocery retailing, the airline industry), and apply Porter’s Five Forces model to discuss that industry’s competitive forces and their relative influence. (Note: The following website provides useful information about the Porter model: Porter’s Five Forces: Understanding Competitive Forces to Maximize Profitability.) [MO1.1, MO1.2, MO1.3, MO1.4]

B. Discuss how online, social media, and other technology-related marketing tools could provide competitive advantages in the industry you analyzed in essay question A. [MO1.6, MO1.7]

C. Do you think firms that market products for children have any special ethical responsibilities when they advertise? Why or why not? Give examples that support your position. [MO1.5, MO1.6]

What is the current marketing strategy used by the firm? Is it effective? What can be done to improve it? Apart from cornstarch products, what other items would be used as alternatives to plastics?

M5a1mar

Questionnaires are usually preferred for their ability to reach many people within a short time. Some of the questions asked during the interviews and in the questionnaires were;   

In your view, how are Bonnie Bio’s products essential in protecting our environment?

Do you think the sales for the company are increasing or decreasing?

Where do you see the firm in the next five years?

What is the current marketing strategy used by the firm? Is it effective? What can be done to improve it?

Apart from cornstarch products, what other items would be used as alternatives to plastics?

Answers to these questions would provide insights into the situation of environmental pollution in the world.

Why are some successful while others struggle to be productive? Discuss similar more famous and notable real-life or fictional examples?

Think of the groups you belong to; why are some successful while others struggle to be productive? Discuss similar more famous and notable real-life or fictional examples?

Do use terminology from the assigned readings, cite the textbook with at least an in-text citation (Dipboye, 2016), and bring in current events (provide a URL) to add to the conversation and to support your points.

How will the personnel influence sales? What kind of sales techniques can the personnel be trained in?Does the business plan to develop a unique image? How can this unique image and atmospherics be achieved?

What’s the business’s mission? What goals does the business hope to achieve via marketing? What does the business intend to do to accomplish those goals?

Identify the business’s strengths, weaknesses, opportunities, and threats. List three things the business does well, three areas it could improve in, three things working in its favor or to its advantage, and three ways the external environment negatively impacts or may impact the business. Review the examples in Chapter 2 in your textbook.

Identify the business’s consumer base in three paragraphs. Who are its potential customers? What are their ages, genders, and interests? What do they each want and need in regard to the business’s products or services?

How will you reach those targeted customers? What’s the message you want them to receive about the business’s products or services? Review the examples and case studies in Chapters 2 and 3 in your textbook.

What products or services need to be developed so that the target audience will perceive them as valuable enough to buy?

How will the business price these goods so that customers believe they received a fair deal?

Where will the products/services be sold, and what methods will be used when selling them?

How does the business plan to get the word out about these products or services? What allocated resources are needed for marketing efforts to be put in place and successful?

Does the business plan to develop a unique image? How can this unique image and atmospherics be achieved?

How will the personnel influence sales? What kind of sales techniques can the personnel be trained in?

Discuss three major ways that service prices are perceived differently from goods prices by customers.

Marketing Service Offering

1- Discuss three major ways that service prices are perceived differently from goods prices by customers.

2- Articulate the key ways that pricing of services differs from pricing of goods from a company’s perspective.

3- Demonstrate what value means to customers and the role that price plays in value.

4- Describe strategies that companies use to price services.

What is the role of bloggers or other influencers in connecting with Generation Z? Describe and provide examples.

Prompt
Draft a report for the CMO in the scenario and recommend marketing strategies to engage Generation Z, or the “I-Generation.” Specifically, you must address the following criteria:

What is unique about Generation Z in terms of marketing?

Identify two digital marketing approaches that work best for this generation.

How do you best reach this generation with your message focusing on brand image ?

Identify two social media platforms preferred by Generation Z. Give examples and reasons.

What is the role of bloggers or other influencers in connecting with Generation Z? Describe and provide examples.

Do online advertisements work with this generation? Explain.

Describe the role of traditional methods of marketing with Generation Z.

Which forms of traditional media can work best in influencing Generation Z?
How will the park use these forms of traditional media in its plan?

Consider outdoor, promotional, and guerilla marketing.

Describe the pros and cons of using TV and radio.