Marketing and Advertising MK640

Lesson 1: Marketing, A Macro Perspective

Discussion Question 2 (26 points)

Upon completion of the Required Readings, write a thorough, well-planned narrative answer to each of the following discussion questions. Rely on your Required Readings and the Lecture and Research Update for specific information to answer each discussion question, but turn to your original thoughts when asked to apply, evaluate, analyze, or synthesize the information. Appropriately cite all resources used to answer the discussion questions and include an APA-formatted bibliography for each. Your Discussion Question responses should be both grammatically and mechanically correct, and formatted in the same fashion as the questions themselves. If there is a Part A, your response should identify a Part A, etc.

Organize a list illustrating how old economy business and marketing practices are changing. The list must include at least five (5) old practices and their modern day replacement. Give four (4) examples of how a new practice has been used in businesses. Relate whenever possible to your own first-hand knowledge and experiences. (26 points) (A 1½-page response is required.)

Lesson 2: Market Segmentation and Targeting

Discussion Question 1 (25 points)

Upon completion of the Required Readings, write a thorough, well-planned narrative answer to each of the following discussion questions. Rely on your Required Readings and the Lecture and Research Update for specific information to answer each discussion question, but turn to your original thoughts when asked to apply, evaluate, analyze, or synthesize the information. Appropriately cite all resources used to answer the discussion questions and include an APA-formatted bibliography for each. Your Discussion Question responses should be both grammatically and mechanically correct, and formatted in the same fashion as the questions themselves. If there is a Part A, your response should identify a Part A, etc.

Assume a business entity of your choosing is planning to introduce a new product or service. Construct a market research plan that shows five (5) steps that might be taken to determine the viability of the offering and methods for bringing it to market. Be sure to describe the business and the products or services being marketed. The steps should be discussed in a sequential manner illustrating how the plan progresses from one step to the next. (25 points) (A 1½-page response is required.)

Lesson 2: Market Segmentation and Targeting

Discussion Question 2 (25 points)

Upon completion of the Required Readings, write a thorough, well-planned narrative answer to each of the following discussion questions. Rely on your Required Readings and the Lecture and Research Update for specific information to answer each discussion question, but turn to your original thoughts when asked to apply, evaluate, analyze, or synthesize the information. Appropriately cite all resources used to answer the discussion questions and include an APA-formatted bibliography for each. Your Discussion Question responses should be both grammatically and mechanically correct, and formatted in the same fashion as the questions themselves. If there is a Part A, your response should identify a Part A, etc.

For the same business in Discussion Question 1, write five (5) close-ended and five (5) open-ended questions to be used in a questionnaire surveying the existing or potential marketplace. Underneath each question describe the purpose or rationale for asking the question. In addition state your method of administration for the survey and explain how it fits into one (1) or more components of the overall marketing decision support process that you discussed in the question above. (25 points) (A 1½-page response is required.)

Lesson 2: Market Segmentation and Targeting

Activity 2: Marketing Self-Segmentation (100 points)

You must cite all resources used and include an APA-formatted bibliography. Your Activity responses should be both grammatically and mechanically correct, and formatted in the same fashion as the Activity itself. If there is a Part A, your response should identify a Part A, etc.

Each of us fits different points within a plethora of marketing segmentation schemes. You have now been exposed to VALS categories, to LOHAS and BOBOs, to definitions of major US social classes, to identity marketing, and to demographic and psychographic modes of classifying clusters of buyers. You have also learned the key elements of a variety of market segments (target markets). Based upon the knowledge gained from your test, selected readings and course lecture, respond to the following. (100 points) (A 2-page response is required for the combination of Parts A and B.)

Part A List four (4) market segments (target markets) into which you fit.

Part B Discuss completely each of the four (4) market segments. Include descriptors such as demographics, lifestyle, and usage behaviors for each.

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