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MKG 470 CT 4
Option #2: Primary Scales
A nation-wide, upscale grocery store is considering releasing a new line of quinoa-based organic foods under the store’s private label. They would like to do some marketing research before doing so, however, in order to determine how well current and potential customers might accept these products.
In this assignment, you are asked to illustrate the use of primary scales for measuring consumer preferences for quinoa-based, organic food products.
- Develop Likert, semantic differential, and Stapel scales for measuring consumer preferences for quinoa-based, organic food products.
- List five descriptive factors about the consumer that you would want to study.
- For each of the scales and descriptive factors you identify, discuss why you chose them and how the grocery store would use this information.
- Discuss the potential ethical implications that primary data collections might entail.
Your assignment should be in a paper 3-4 pages long, not including the required title and reference pages. Adhere to the CSU-Global Guide to Writing and APA Requirements. Include at least three scholarly sources (you may use the recommended readings) to support your answers. The CSU-Global Library is a good place to find these sources. Remember to use in-text citations as appropriate and to include your sources in your reference page.
The primary objective of this assignment is to allow the student to demonstrate an understanding of the factors that can affect the
The primary objective of this assignment is to allow the student to demonstrate an understanding of the factors that can affect the positioning decisions in the launch of a product or service, and the evidence-based (authoritative, research-based) decisions to forecast potential changes required in the marketing mix strategies through the PLC.
All products/services go through a product life cycle (introduction, growth, maturity and decline). These various stages influence the marketing mix strategies, which need to be adjusted to maintain “positioning” through the PLC.
A secondary objective is to understand the differences in a product launch in the selected targeted U.S. (domestic market) and international markets.
Resources:
Chapters 12, 13, 15 and 19, Kotler & Keller. 2016)
Assignment Steps
Generate a 900 product strategy in Microsoft® Word or using Riverpoint Writer.
Incorporate a product strategy that addresses the following:
· At least three areas of the product life cycle (introduction, growth, maturity and decline).
· How you will measure (what metrics will be used to determine success or failure) the marketing activities (chapter 1, Kotler & Keller. 2016).
· Define at least two different marketing mix strategies (product, price, place, promotion), and how these will be impacted by the changing competitive environment and other factors in the PLC stages.
· Address at least 6 of the product differentiation factors defined in chapter 13, pg 371 (Kotler & Keller. 2016)
This assignment will be a continuation of the marketing plan for the global or multi-regional company you chose in Week 1. This will be incorporated into your overall marketing plan for Week 6.
Note: Charts/graphs/tables do not count toward the word count.
As in other assignments, do not use first or second person. See the Course Policies for formatting requirements, including abstract, introduction, and conclusion.
Cite a minimum of three peer-reviewed references plus your textbook as your primary resource for marketing principles.
Format your assignment consistent with APA guidelines.
To develop effective relationship marketing, a company must first understand its targeted consumers’ buying influences and behaviors.
Purpose of Assignment
To develop effective relationship marketing, a company must first understand its targeted consumers’ buying influences and behaviors. This week’s assignment is the first part of the development of a marketing plan, which is to accomplish your market Situation Analysis research for the 1. Market Environment and 2. SWOT Analyses, and 3. your Segmentation, Targeting, and Positioning (STP Process: Review Chapter 9 pgs 246 to 264).
As with all academic and professional papers, do not use first or second person in your writing. These are evidence-based objective documents, not personal perspective. Make sure you have read the Course Policies regarding requirements for formatting assignments.
Resources and Links
· Marketing Research Plan Template
· 7-step segmentation process (Table 9.6, chapter 9, Marketing Management 15e)
· Market Environmental Analysis (6 major environmental forces, pg 73, chapter 3, Marketing Management 15e; and the PESTLE Analysis: PESTLEAnalysis.comhttp://pestleanalysis.com/marketing-competitor-analysis/
Assignment Steps
To develop effective relationship marketing, a company must first understand its targeted consumers’ buying influences and behaviors. In this Week 2 assignment, you will accomplish the Research section of your plan, which is the Situation Analysis, covering the SWOT Analysis, STP Analysis, and Environment Analysis.
Create the research section of your marketing plan in 900 words.
Include at least 3 elements of the Research List of Topics (see list below):
· Research List of Topics:
o Define and Accomplish Primary Research on the Target Market
o Define and Accomplish Secondary Research on the Target Market
o Target Customer Profile (geographic, demographic, psychographic, behavioral data characteristics)
o Methods you will use for Continuous Consumer Monitoring and Research, and Environmental Scanning
o Identify Market, Economic, Technological, Regulatory, Legal, Social, and Ecological Forces
o Current and Potential Future Opportunities
o Current and Potential Future Competitive and Environmental Threats
· Diagrams are not required but can be used to provide clarity and conciseness. Diagrams (and subsequent discussion) can include:
o a bulleted SWOT (emphasizes internal market–Strengths, Weakness, Opportunities, Threats)
o TOWS (emphasizes the external market–Threats, Opportunities, Weakness, Strength),
o PEST (Political, Economical, Social, Technological),
o SOAR (Strengths, Opportunities, Aspirations, Results), and/or
o STEEP (Social, Technological, Environmental, Economical, Political).
All diagram(s) must include a subsequent discussion of the diagram(s) providing insight and clarity.
Develop the Target Market section of your marketing plan as a result of your research, which includes an overview of the demographics (age, income, family members, and birthdays) and psychographics / lifestyle analysis (activities, interests, and opinions (AIO)) for each targeted market (a narrowly defined, specific domestic market and a narrowly defined, specific international market). This is an overview of your findings (basic trends and insights from the data that is presented in annual reports and other SEC type filings, as well as research in free public and government demographic, behavioral, and psychographic databases).
Explain the insights you have gained from your inspection and analysis of the demographic and psychographic information you have found.
This assignment will be incorporated into your overall marketing plan for Week 6.
Cite a minimum of three peer-reviewed references within the content of the paper, as well as these references at the end.
Format your assignment consistent with APA guidelines.
Click the Assignment Files tab to submit your assignment.