1. VALS is a very popular proprietary market segmentation tool.
Go to the Strategic Business Insights website at https://www.strategicbusinessinsights.com/vals/presurvey.shtml and take the free VALS survey. Do you agree with the results? Why or why not?
Describe products or companies where it might be appropriate to utilize market segmentation according to personality traits? 350 words and 3 references.
Our textbook (1) reference for all questions: Ferrell, O.C., & Hartline, M (2014). Marketing Strategy : Texts and Cases, 6th edition. Mason, OH: South-Western, Cengage Learning.
Case: IndyCar
Auto racing is the fastest growing spectator sport in the United States.Unfortunately, open-wheel racing has experienced a period of decline while other forms of auto racing-most notably NASCAR-have grown. After years of damaging competition, the Indy Racing League and Champ Car (CART) have finally reunified. New sponsors, new business opportunities, and a new television contract are positive signs for IndyCar, but the league remains a distant third to NASCAR in terms of popularity in the motorsports market. IndyCar must address several concerns in order to strengthen its standing in the American motorsports market, continue the task of reconnecting with former fans, and build connections with new fans and sponsors.
2. In some ways, the internal split that formed the IRL was a type of forced market segmentation. Given that, from a segmentation perspective, why was the split unsuccessful? 350 words and 3 references
3. With respect to market segmentation, how does the typical IndyCar fan differ from other motorsports fans? Does this difference have any effect on IndyCar's success? 350 words and 3 references
IndyCar has hired you as a strategic marketing analyst. The company seeks your answers to three important questions: Be sure to explain your answers with 350 and 3 references
4. What should be the mix of formats for future IndyCar races use (oval tracks, street/road courses)?
5. Where should future IndyCar Series races be located (U.S. or foreign markets)?
6. How can IndyCar prove to potential sponsors that its events are valuable entities?
Case: Chevrolet
This case examines Chevrolet's history of product innovation, branding strategy, and successful product mix in connection with its relationship to parent General Motors and its rivalry with Ford. Chevrolet has a long history of success in developing and marketing cars, trucks, and SUVs that are practical, sporty, and affordable. The brand's relationship with General Motors is both a strength and a weakness, especially in the aftermath of the federal government's bailout of General Motors. Answers need to be 350 words and 3 references.
7. Evaluate the diversity of vehicle models and sizes sold under the Chevrolet brand name. What strengths and weaknesses are evident in the company's product mix?
8. The models sold under the Chevy brand hold very different attributes and images when to each other. For example, the Chevy Corvette possesses a very different image than the Chevy Sonic. Do you see this variety as a plus or a minus for the Chevy brand? Explain
9. One of the most difficult strategic decisions that a company can make is to delete one or more products from its portfolio. However, Chevrolet has asked you to do just that: cut one or more models from the Chevy brand. Which model(s) do you suggest and why? Where would you reallocate the newly available resources and why?
350 words per question