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Book/movie review
22/08/2022
Text Chapters
White, S. (2012). Principles of marketing [Electronic version]. Retrieved from https://ashford.content.edu
Chapter 7: Target Markets
In this chapter, we will discuss consumer buying behavior and its various influences. Key concepts:
In the targeting case study, RC Willey Home Furnishing, you will learn how this company used leading-edge analytics such as data-driven marketing and trigger marketing in order to maximize marketing efficiency.
Chapter 8: In the Environment: Actors and Forces
In this chapter, we will discuss the impacts of the global business environment in terms of cultural, technological, economic, and political factors that may either create opportunities or threats for marketers. Key concepts:
In the marketing environment case study, we’ll explore how a small Italian accordion manufacturer has survived despite the decline in the instrument’s popularity since its 1940s heyday. The secret lies in the ability to understand the impact of sociological, cultural, political, and legal factors and make the necessary adjustments in marketing approach..
Multimedia
Former CEO, Angela Ahrendts, on the repositioning and revitalization of the Burberry brand.
Learn about the importance of authenticity and partnerships in building a brand:
Cunningham, B. (2015, September 28).
#Smallbizhowto: Authentic branding on a budget. Retrieved from http://onforb.es/1iWNGib
Tour the aisles of Target and learn how data analysis drives retail pricing, merchandising and promotional strategies:
Fishback, D. (2012). How retailers get you to buy.
[Online video]. Retrieved from
https://youtu.be/VcGR5dPpeME
How Ikea leverages “customer listening”, brand evangelists (& sleep overs!) in their marketing:
Green, L. (2012). Behind the IKEA brand. [Online
video]. Retrieved from https://youtu.be/nxbaq8aPy5g
Learn about the effects of a society’s culture on the values of its members and the six key dimensions across which it can be analyzed:
Hofstede, G. (2007). Hofstede’s dimensions of culture in international markets. Journal of Business Research, 60(2007), 277-284
A $7 million neuromarketing study reveals what really gets us to buy (& why sex doesn’t sell!):
Lindstrom, M. (2010). Buy ̵ ology: Truthand lies about why we buy. New York City, NY: Crown Books
DISCUSSION 1
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Geodemographic Segmentation: Finding your People |
Finding and Targeting Your PeopleGeodemographic Segmentation: Finding Your People Geodemographics is a common and effective means to segment potential customers. Leveraging both demographic (e.g., gender, age, income, marital status) and psychographic (e.g., habits, hobbies, spending habits, values) data, households can be classified into segments and the relative attractiveness of these segments for your product or service can be determined. In this interactivity, you’re going to take a geodemographic system (Prizm Premier) and determine which segment best describes you. Then, exploring map data, you’ll assess how common your segment is for where you live and where you could live amongst more people like yourself! Finally, with knowledge of your segment’s profile, you’re going to suggest a promotion for your internship brand targeted specifically to your segment. Guided Response:1. Begin by perusing the Prizm Premier interactive tutorial (Links to an external site.)Links to an external site..
2. Visit the Prizm Premier Lifestage Groups page (Links to an external site.)Links to an external site. and determine the following: 3. Create a promotion from your mentor marketer to target your segment.
4. Publish a post to the forum below containing the following…
5. Provide feedback to three of your peers
I Need Help! I Can Help!Got questions about segmentation, Prizm or this assignment? Or maybe a helpful tip to share? Please post to our week 4 help forum, so others can benefit! FAQsDo I have to use my internship brand for this assignment?
My internship brand doesn’t market products targeted to my segment. What should I do?
|
View Prizm Premier Lifestage Groups page (Links to an external site.)Links to an external site.
My Prizm Premier lifestage segment is “Striving Singles” and the segment I chose is “Small-Town Collegiates.” I chose that segment as we are a younger family just starting out who does occasionally horseback ride and shop at True Value hardware stores. The index for my segment in San Diego County, CA, where I currently live, is very low at 14. The high indexing area for Small-Town Collegiates that I chose as my potential future home is James City County, VA. It has a 468 value for Small Town Collegiates and is where you’ll find colonial Williamsburg and the Loch Ness Monster roller coaster! For my mentor marketer, Papa John’s Pizza, I am proposing a mid-week $5 small pizza deal to appeal to Small-Town Collegiates’ tight purse strings and likely smaller households. This will be a pick-up only offer, as delivery would not likely be profitable. This segment tends to live in more rural areas and their smaller households mean smaller order values. |
DISCUSSION 2
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Foreign Market Entry Podcast |
As you are likely aware, your internship brand doesn’t just do business in the U.S. So, in this interactivity, we’re going to research their past entry into a foreign market. But rather than writing about it, we’re going to talk about it — by creating a short podcast.
Guided Response:
1. Identify a specific country to analyze your brand’s entry into
2. Research your chosen market to answer these questions:
3. Identify and create proper APA citations for 3+ different sources.
4. Script (or at least outline) for your podcast.
5. Record your podcast with SoundCloud.
6. Post your podcast link and APA formatted sources to forum below.
7. Listen and react to three peer podcasts.
I Need Help! I Can Help!
Got questions about foreign market entry, SoundCloud or this assignment? Or maybe a helpful tip to share? Please post to our week 4 help forum, so others can benefit!
FAQs
Do I have to use my internship brand for this assignment?
Do I have to use Soundcloud
| A step by step Souncloud tutorial… |
View online tutorial
| Our APA formatted citations |
Custer, C. (2011, August 26). What’s wrong with Groupon in China? Techinasia.com. Retrieved from https://www.techinasia.com/whats-wrong-with-groupon-in-china (Links to an external site.)Links to an external site.
Groupon. (n.d.). Retrieved January 25, 2016, from https://en.wikipedia.org/wiki/groupon (Links to an external site.)Links to an external site.
Kumparak, G. (2011, October 31). How Groupon Is Losing China.TechCrunch.com. Retrieved from http://techcrunch.com/2011/10/31/how-groupon-is-losing-china/ (Links to an external site.)Links to an external site.
Zhu, J. (2011, November 4). 4 mistakes behind Groupon’s failure in China.Techinasia.com. Retrieved from https://www.techinasia.com/4-mistakes-behind-groupons-failure-in-china (Links to an external site.)Links to an external site.
The writer is very fast, professional and responded to the review request fast also. Thank you.
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