Week 7 Assignment 3
Step 1: Product
In the Marketing Analysis Presentation provided by your marketing team, you’ll see three different basketballs that need to be included in the product display on Slide 2. Each product has unique features.
Step 2: Place
On Slide 4 of the Marketing Analysis Presentation, you’ll see the results of a survey that asked potential buyers about where they are most likely to purchase these products.
Step 3: Promotion
Slide 5 of the Marketing Analysis Presentation shows three recommended advertisements, including a special deal promotion, for the product that is expected to sell the best.
Step 4: Price
Finally, Look at the pricing options available for each of the three products together on Slide 6.
Note: You should complete Step 5 after reading the material in Week 7.
Step 5: Brand & Sales Pitch
The company that makes one of the basketballs is looking to rebrand the product. They have asked for your input on possible brand ideas.
Step 6: Market Segmentation
The marketing plan for the basketballs at the Brooklyn store has been in place now for four months, and the marketing team has assembled a report reviewing sales data and customer feedback for the last quarter’s basketball sales. Overall, the results are lower than you expected and you are concerned that your marketing and creative staff have not properly segmented your target customers. Remember, like many products in the marketplace, the basketball’s marketing campaigns must target two different groups of customers: (1) adults who purchase the item as a gift and, therefore, do not actually use the product; and (2) adults and teenagers who purchase the item for their own use and enjoyment. Both groups have different reasons and expectations surrounding the item in question, and those reasons and expectations will have significant impacts on the buyers’ purchasing decisions.