Assignment:
Question 1
1.Diversification is a growth strategy designed to emphasize new products and new markets, or acquire a business or start up a new company. For example, Pepsi bought Frito Lay. As the marketing manager for a car dealership, briefly describe the diversification strategy that you would recommend for the company.
2.In a brand extension, a company uses an established brand to introduce a new product. Briefly explain why that might not be a good concept to use, and provide a specific example to substantiate your answer.
3.Repositioning or product repositioning means to change the perception of a product or brand in the mind of the consumer in relation to the competitor's brands. One example in the sports industry is bowling. In your opinion, what other product needs to be revised, repositioned, or repacked? Briefly explain how the product should be updated.
Question 2
- Select one of the following concepts to examine: in-group / out-group, bystander effect, conformity, nonconformity, foot-in-the-door strategy, or door-in-the-face strategy.
- Next, describe one situation in which you observed the concept chosen. (Situations can be anything from observing people in a grocery store to interacting with your children or a colleague, among many others.)
- Then, identify the concept you observed and discuss how it relates to the situation.