Assignment Analysis on Marketing Management
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- Document Type: Assignment help (any type)
- Subject: Marketing
- Number of Words: 1800
- Citation/Referencing Style: APA
Aim for concise, accurate, thoughtful answers that are based on evidence, analysis, and theory.
- Explain the hierarchy of brand associations. Give examples at each level. (25 points)
- What trends should marketers watch for? What techniques can a marketer utilize to track new or underlying trends? (25 points)
- What are the two reasons advertising is important? Give an example of why each reason is important. (25 points)
- Explain why many segmentation schemes fail. (25 points)
- Consumers looking for entertainment have many options. Each content provider has business strengths and weaknesses. For example, Netflix has a recommendation engine and a relatively vast library for streaming. Hulu can be freely accessed because of advertising sponsorships, but has limited selections, movies, and availability durations. Cable services “on demand” features are free, but some customers like the convenience of one-stop shop for cable, phone, etc., and selections are limited (in number and duration). Redbox has an altogether different model, with vending for DVDs located in popular places (e.g., near McDonald’s, in airports), interchangeable pick-ups and return locations, and of course limited selections. (50 points)
- How would you advise each of these companies with regard to their strategy, positioning, and tactical execution? For each one, draw scenarios where their strengths might be retained, weaknesses strengthened or eliminated, and future directions pursued to make the business model more solid, profitable, and less prone to competitive matching or attack.
- Could a Blockbuster type of shop re-enter this arena; i.e., a storefront where consumers go to pick up and drop off DVDs, or is that customer model now defunct? If you could imagine it, what would you recommend they do? If not, imagine you were to design an entertainment provider from scratch (movies and video games, mostly), what would they look like —STP and 4Ps? What elements in the 5 Cs are likely to be the most relevant to address in the near future?
- If these companies start looking even more similar and commodity-like in the next 3-5 years, how would you advise each company to break from the pack and distinguish themselves by offering…. what?
- How can any of these providers take greater advantage of a CRM philosophy? Most of them have little by the way of retention programs, e.g., customers can cancel or rejoin at anytime. Are there benefits for staying? How you would you institute a method of retention?
- Volta’s core business is the financial investment instruments it wants to sell. Its value-addeds include financial advisors who provide nearly free counsel.
- 1 Like most financial advisors, Volta’s people sell products that seem simple to them, but complicated to most of their customers. Financial investments are a classic credence purchase, implying that the customer won’t know for a long time whether the advice to invest in certain ways was indeed optimal. Volta’s clients come for advice because they figure that the advisors have knowledge and abilities that they don’t.
- 2 Volta is a business, and as such, has a business manager. Some 18 months ago, the manager asked the advisors to have their clients fill out periodic customer satisfaction surveys. The survey captures customers perceptions regarding: whether a receptionist was polite when taking a call to make an appointment with an advisor; how quickly the appointment could be made; how professional was the advisor; did the advisor’s work area appear to be organized and professional, and so on. (50 points)
- What do you think about the survey? What measures do you believe would be good indicators of an advisor’s performance?
- How could the brand be positioned to be more tangible and experiential (and even more search) so that consumers could be more confident in Volta’s quality and Volta would have more obvious bragging rights about its brand?
- What would be a preferred advertising method for Volta’s services? Which methods would optimize its brand?
- What elements of financial investment assistance would you classify as “core” and what would you list under “value-added”? How could Volta distinguish itself from other financial advisor firms by modifying their core or value-added services?
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