Marketing Assignment
Question 1
TedTalk Video: "What Consumers Want" by Joseph Pine.
After watching the video, please answer the questions listed below in your own words.Your response should be a minimum of approximately 200 words and MUST address each question posed. Please DO NOT give me ONE LONG PARAGRAPH. Organize your thoughts.
Questions for Reflection:
1. Explain the significance of the progression of economic value. Walk through the progression from Commodities, to Services, to Goods, to Experience. Identify the Business Imperative and Consumer sensitivity for each.
2. What is mass marketing? Explain why this model of marketing is not as effective as it was in years past.
3. Why do people value connectivity? Describe the benefits of connectivity to a business.
4. According to Joseph Pine say about authenticity?
5. How will the concepts presented in this video affect consumer preferences in the future?
Question 2
Your response should be approximately 200 words. Your response should be in your own words.Use the scroll bar to see further down the Twitter feed. There are plenty of items from which to choose. Review the Twitter feed above. You should be able to click on the links in each Tweet to view the contents.
1. Select a Tweet from the feed. This Tweet should relate to course concepts and topics
2. Review the blog or information
3. Summarize the information you discovered for class (please include the link of your selected item).
Question 3
Case 4.4 Netflix Continues to Change the Face of In-Home Movies Around the Globe
Netflix has changed the way consumers rent movies and have reaped the financial reward. Many consumers now use non-television platforms such as Netflix, although at roughly 25 percent penetration, there still seems to be room for growth. Part of Netflix's power is its availability on a wide range of platforms, including Blu-ray players and gaming consoles.
Recently, Netflix decided to split its online-streaming-video and DVDs-by-mail services into separate subscriptions. This change upset many of its customers since it represents a 60 percent increase in the total subscription fee to get both options. Consumers vented their frustrations with this price increase on social media such as Facebook and Twitter and threatened to cancel their subscriptions.
Interestingly, Netflix executives said they expected this reaction but said the increased revenue is required to sustain rising costs of expansion. The negative reaction by customers to this move seems to have emboldened competitors to strike back. Blockbuster, Amazon, and Walmart are now more heavily promoting their own online video-streaming services to compete with Netflix in an effort to attract disgruntled customers. Analysts predict that Netflix will lose over 2 million subscribers as a result of this change.
Such losses may be offset by Netflix's global expansion. Netflix has added instant-streaming video service to numerous countries in Central and South America and the Caribbean, where "pay TV" is very popular. Consider the following statistics:
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TABLE A
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Worldwide Market Potential for Digital Movie Delivery Services
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Region
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US$ Million
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% of Globe
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Asia
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2,694
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30.10
|
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Europe
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2,327
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26.00
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North America & the Caribbean
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2,288
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25.60
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Latin America
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715
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8.00
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Middle East
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448
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5.00
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Africa
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354
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4.00
|
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Oceana
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122
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1.40
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Total
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8,948
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100.00
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Source: Philip N. Parker, INSEAD (2008).
Mexico and Brazil are the pay TV powerhouses of Latin America. Brazil has 8.9 million pay TV homes now and will have around 20 million by the end of 2014. Mexico has 9.7 million pay TV homes today and this will grow to 18.7 million pay TV homes by 2014. These are strong markets growing very rapidly, with 26 percent and 40 percent growth respectively during 2010.
Other regions where Netflix plans to expand include Europe and Asia. Tables A and B give financial information about digital movie delivery services globally.
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TABLE B
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Market Potential for Digital Movie Delivery Services in Europe
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Country
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US$ Million
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% of Europe
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Germany
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380.63
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16.36
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The United Kingdom
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288.85
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12.41
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France
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276.72
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11.89
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Italy
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241.08
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10.36
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Spain
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183.98
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7.91
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Russia
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142.91
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6.14
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The Netherlands
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86.19
|
3.70
|
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Poland
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85.39
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3.67
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Belgium
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50.93
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2.19
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Sweden
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44.91
|
1.93
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Greece
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44.07
|
1.89
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Ukraine
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44.00
|
1.89
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Austria
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43.09
|
1.85
|
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Switzerland
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40.43
|
1.74
|
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Norway
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34.94
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1.50
|
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Czech Republic
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33.93
|
1.46
|
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Romania
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33.64
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1.45
|
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Portugal
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31.07
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1.34
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Denmark
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27.38
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1.18
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Hungary
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26.03
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1.12
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Ireland
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25.50
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1.10
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Finland
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25.18
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1.08
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Kazakhstan
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22.29
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0.96
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Slovakia
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14.86
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0.64
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Belarus
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14.34
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0.62
|
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Other
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84.75
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3.64
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Total
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2327.12
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100.00
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Source: Philip M. Parker, INSEAD (2008).
Discussion Questions
1. Chapter 10 discusses how consumers cope with product and service encounters including product and service failures. Describe in what sense Netflix's change in pricing strategy could be seen as a product or service failure and the coping strategies that their customers appear to be utilizing.
2. What factors do you feel contributed to customers' high levels of anger toward Netflix's new pricing policy? How might Netflix have handled this situation better? Explain.
3. Netflix, as well as its competitors, use the Internet as part of a multi-channel strategy. Research the product and service offerings of two or more of Netflix's competitors in the in-home movie industry, such as Blockbuster, Walmart, Amazon Prime, or Redbox. Compare, contrast, and explain how the competitors you chose are using a multi-channel strategy.
4. Chapter 17 describes several segments of Internet shoppers that were identified by Experian based on their attitudes and behaviors. Which of these segments are most likely to fit the target market for digital movie delivery? Multiple segments may be correct. Explain the basis for your answer.
5. Chapter 15 discusses information search in the consumer decision-making process. Explain which of the strategies relating to information search patterns shown in Table 15-3 Netflix's competitors could best use to capture market share in light of Netflix's new pricing?
6. Netflix has begun the process of expanding its online video-streaming service globally. According to the case, Netflix already has a strong presence in the Western Hemisphere and is considering expansion into other countries.
a. Using Table A and what you've learned about cross-cultural marketing and culture variations, explain why Netflix may be interested in expanding into Europe.
b. Which of the European countries in Table B would be especially attractive for Netflix to enter? Justify your answer
c. What considerations should Netflix make when approaching a foreign market?
This case study presentation will be submitted using a PowerPoint document and MUST contain a minimum of narration but preferably video of you presenting your responses to this case study. There are a couple ways to go about this.
• Create: A PowerPoint presentation. Keep your slides clutter free. Learn how to directly input narration or a video into a Powerpoint presentation
• Use: the PowerPoint video tool (directly within the presentation. However, you may also use screencastomatic (present while having your presentation up on the screen with a small video of you in the corner of the screen.
Your presentation MUST include:
1. Introduction
2. Summary of Case
3. Problem statement
4. Analysis
5. Selected solution
6. Justification of the selected solution
7. YOU MUST INCLUDE A SLIDE FOR EACH ITEM LISTED ABOVE WITHIN YOUR PRESENTATION.
8. Be sure to answer/address ALL of the questions given for the case. Separate slide for each question (there are six total).
There are no short cuts to case presentations but a formalized methodology that enables the case presenter the optimal way to solve the case problem.
There are no exact answers or perfect solutions to case problems. Indeed, each recommended solution and justification can and is usually different comparatively among a group of respondents.
The solution must fit the case and must be vigorously supported.Use the data within the tables given to support your analysis and recommendations.
Question 4
Analyze the attached advertisement from multiple perspectives using Frith's Levels of Analysis
Frith's Levels of Analysis:
• The Surface Meaning: What is your overall impression at first glance after looking at the advertisement. At this level, you will describe/list all objects, people, and environment within the ad.
• Advertiser's Intended Meaning: Identify the sales message (strategy behind the ad). Does the intended meaning and the meaning you get from the ad the same? Do they differ? Explain.
• Cultural or Ideological Meaning: Individuals often draw upon their cultural experiences and background when making sense of decoding an ad. What does the ad say about your belief system?
Task:
1. Review the attached print ad above.
2. After reviewing the ad create a Word document and provide a response to all bulleted items above OR as a substitute you may post a video response.
6. Within your response, please address each of the following items:
• The Surface Meaning of the Ad (see Frith's Level of Analysis information above to discover what you will address within your response)
• The Advertiser's Meaning of the Ad (see Frith's Level of Analysis information above to discover what you will address within your response)
• The Cultural or Ideological Meaning of the Ad (see Frith's Level of Analysis information above to discover what you will address within your response)
• Describe the target groups of the ad.
• Is this ad effective? Why or why not?
• Describe the advertiser's purpose and message of the ad.
Format your assignment according to the following formatting requirements:
1. The answer should be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides.
2. The response also includes a cover page containing the title of the assignment, the student's name, the course title, and the date. The cover page is not included in the required page length.
3. Also include a reference page. The Citations and references should follow APA format. The reference page is not included in the required page length.
Attachment:- MARKETING-1STQST.rar