Human Resource Management homework help. Module 3 – Case
PRINCIPLES OF MARKETING
Assignment Overview
The Airbus A380 was Europe’s answer to the familiar Boeing 747 Jumbo jet that is still in production. Recently, Airbus announced that manufacturer of the A380 would be discontinued. The right plane at the wrong time?
Case Assignment
Products, like people, have life cycles. The product life cycle is broken into four stages: introduction, growth, maturity, and decline. This concept is used by management and by marketing professionals as a factor in deciding when it is appropriate to increase advertising, reduce prices, expand to new markets, or redesign packaging. (By the way, just redesigning its packaging makes something a new product!)
A product always starts with an idea, and within the confines of modern business, and it will not go any further until research and development (R&D) is completed and the idea is found to be feasible and potentially profitable to the company. At that point, the product is manufactured, marketed, and rolled out. If it is not found to be feasible, then R&D continues or the product is scrapped for the time being. One point to note is that no matter how good a product turns out, if no one wants it, it is scrapped.
The introduction stage is where the company invests a lot of money into advertising and a marketing campaign where consumers first become aware of a product and the benefits of having or using it. Assuming the product is successful, it enters its growth phase. Demand grows, production is increased, and the availability of the product expands.
As a product matures, it enters its most profitable stage, while the costs of both manufacturing and marketing decline. (This is when a company can focus its newly available funds on another potential new product.) However, competition increases when competitors begin to copy the company’s newest product. The product may lose market share and begin its decline.
The stage of a product’s life cycle impacts the way in which it is marketed to consumers. A new product needs to be explained, while a mature product needs to be differentiated from its competitors.
You should now review the background material. Use the appropriate analytical tools in addressing the following assignment questions:
- After first describing each of the four stages in a product life cycle (introduction, growth, maturity, and decline), determine where the Boeing 747 and Airbus A380 jumbo jets are in their own life cycle. Explain why you selected the stages for each one.
- Next, explain what a market segment and target customers are, including citations for appropriate references for the definitions. Determine what the market segment is for jumbo jets and who its target consumers are now. What consumers should Airbus target to reverse the decline?
- How has the product mix for Airbus changed now that the A380 will no longer be produced?
- How can Airbus adjust the marketing mix for its jets to ensure that it is competitive moving forward? In other words, what is your vision for the future of the Airbus? What does Airbus have to do to achieve that future, if it has one?
Keys to the Assignment
- Your paper should be 4-5 pages long (not including title and reference pages), which means not less than 4 full pages.
- Use at least 3 library resources in your research. At least two of these resources must be high-quality references from peer-reviewed academic journals. These are found in the Trident Online Library.
- Explain your analysis using terminology and concepts introduced in this module. Terminology definitions must have citations from peer-reviewed academic journals.
- Cite all sources and provide a reference list using APA format.
- Proofread and edit the paper. The goal is zero errors.
- Submit your paper to TLC by the due date for this module.
- For instruction on writing papers, citing sources, proper referencing, and so forth, use Trident University’s Student Guide to Writing a High-Quality Academic Paper.
Module 3 – SLP
PRINCIPLES OF MARKETING
For this SLP assignment, you will prepare a 5-minute video, a PowerPoint presentation with voice-over, or a PowerPoint presentation with speaker notes.
Visit two large retailers (e.g., Target and Walmart) near you. (Please note: If you are in a location that does not have large retailers nearby, choose two competing retailers with whom you are familiar. If you have any concerns, please contact your professor for approval of your choices.)
Walk around the stores and make note of the components of the marketing mix (the 4 P’s) and what types of marketing and buying behaviors you observe. Prepare a 5-minute video or a pictorial PowerPoint presentation with only photos (at least 8 slides, not counting the cover and reference list slides) and a voice over comparing and contrasting the marketing mixes of the two retailers. You want to convey to the viewer the look and feel of the different retail experiences, so take lots of pictures that relate to the 4 Ps.
If you do not have the ability to create a video presentation or a presentation with audio, you can insert speaker notes on the notes page for each slide that explains the picture on it in detail.
Keys to the Assignment
- Your presentation should be prepared in a professional manner, as if you were making a presentation to your boss.
- PowerPoint presentations must include voice-overs or speaker notes.
- Explain your analysis orally, using terminology and concepts introduced in this module.
- Include a title page and reference sheet with your assignment submission.
- Cite all sources for definitions of terminology and provide a reference list using APA format.
- Presentations should be edited and error-free.
Videos
Learnloads. (2014, March 10). What are distribution channels? Retrieved from https://youtu.be/ALoo4vrKKUw. Standard YouTube License.
Marcy Research. (2018, November 8). Perceptual mapping. Retrieved from https://youtu.be/L9hgJ-4hLYg. Standard YouTube License.
Marketing 91. (2017, January 6). Product life cycle. Retrieved from https://youtu.be/pq3e1b_7uho. Standard YouTube License.
Patel, N. (2019, May 8). Pricing strategies. How to price your product or services for maximum profit. Retrieved from https://youtu.be/0NGQLgrHRe4. Standard YouTube License.
Paxton/Patterson. (2017). The 4 Ps of the marketing mix. Retrieved from https://www.youtube.com/watch?v=Mco8vBAwOmA. Standard YouTube License.
The audiopedia. (2018). What is perceptual mapping? Retrieved from https://youtu.be/CeNpI2ufn44. Standard YouTube License.
Tutor2u. (2016). Market segmentation, targeting and position. Retrieved from https://www.youtube.com/watch?v=0srjdRDh99Y. Standard YouTube License.
Required Reading
Consumer behavior. (2012, December 29). Consumer behavior: How people make buying decisions. Marketing Principles. (v. 1.0) Retrieved from http://2012books.lardbucket.org/books/marketing-principles-v1.0/s06-consumer-behavior-how-people-m.html. Creative Commons BY-NC-SA 3.0
GuruFocus.com: SWOT analysis. (2015). Costco wholesale corporation. Chatham, NJ: Newstex. Available in the Trident Online Library.
Kemp, E. A., Borders, A. L., Anaza, N. A., & Johnston, W. J. (2018). The heart in organizational buying: Marketers’ understanding of emotions and decision-making of buyers. The Journal of Business & Industrial Marketing, 33(1), 19-28. Available in the Trident Online Library.
Phillips, T. (2017, March 10). Digital marketing strategy: Push vs pull? The Guardian. Available in the Trident Online Library.
Suttle, R. (2015). The disadvantages of target marketing. Small Business. Chron. Retrieved from http://smallbusiness.chron.com/disadvantages-target-marketing-36131.html. Copyright © 2018, Hearst Newspapers, LLC.
Tanner, J., & Raymond, M. (2012). Ch. 3: Consumer behavior: How people make buying decisions. Sections 3.1-3.6. In Marketing Principles (v. 2.0). Retrieved from https://2012books.lardbucket.org/pdfs/marketing-principles-v2.0.pdf. CC-by-NC-SA=3.0.
Vanegas, J. G., Restrepo, J. A., Barros, G. A., & Moreno, G. A. (2018). Service quality in Medellin hotels using perceptual maps. Cuadernos de Administración, 34(60). Retrieved from
http://cuadernosdeadministracion.univalle.edu.co/index.php/cuadernos_de_administracion/article/view/5927. Available in the Trident Online Library. CC BY-NA.
Optional Reading
A Step-by-Step Guide. (n.d). A step-by-step guide to constructing a perceptual map. Retrieved from http://www.segmentationstudyguide.com/understanding-perceptual-maps/a-step-by-step-guide-to-constructing-a-perceptual-map/
Blunt, L. (2019). Types of marketing channels. Chron. Retrieved from http://smallbusiness.chron.com/types-marketing-channels-21627.html. Copyright © 2018, Hearst Newspapers, LLC.
Chaffey, D. (2019). Marketing models that have stood the test of time. Smart Insights. Retrieved from http://www.smartinsights.com/digital-marketing-strategy/online-business-revenue-models/marketing-models/
D’Aveni, R.A. (2007). Mapping your competitive position. Harvard Business Review. Retrieved from https://hbr.org/2007/11/mapping-your-competitive-position. Available in the Trident Online Library.
Fontelera, J. (2019). Distribution channels and marketing analysis. Retrieved from http://smallbusiness.chron.com/distribution-channels-marketing-analysis-60985.html. Copyright © 2018, Hearst Newspapers, LLC.
Hanlon, A. (2015). The 4 C’s marketing model. Smart Insights. Retrieved from http://www.smartinsights.com/marketing-planning/marketing-models/4cs-marketing-model/
Jorina, F. (2019, January 25). Distribution channels and marketing analysis. Chron. Retrieved from http://smallbusiness.chron.com/distribution-channels-marketing-analysis-60985.html. Copyright © 2018, Hearst Newspapers, LLC.
Popky, L. (2015). Chapter 3. What hasn’t changed: Timeless marketing truths. In Marketing above the noise: Achieve strategic advantage with marketing that matters. Bibliomotion. Available in the Skillsoft database in the Trident Online Library.
Popky, L. (2015). Chapter 4. What has changed: The new realities. In Marketing above the noise: Achieve strategic advantage with marketing that matters. Bibliomotion. Available in the Skillsoft database in the Trident Online Library.
Quain, S. (2018). How does logistics differ from distribution? Chron. Retrieved from
http://smallbusiness.chron.com/logistics-differ-distribution-77542.html. Copyright © 2018, Hearst Newspapers, LLC.
Robertson, T. (2019). Difference between push & pull marketing. Small Business. Chron. Retrieved from http://smallbusiness.chron.com/difference-between-push-pull-marketing-31806.html. Copyright © 2018, Hearst Newspapers, LLC.
Vinuales, G., Magnotta, S. R., Steffes, E., & Kulkarni, G. (2019). Description and evaluation of an innovative segmentation, targeting, and positioning activity using student perceived learning and actual student learning. Marketing Education Review, 29(1), 24–36. Available in the Trident Online Library.
Woodruff, J. (2019). Different types of pricing strategy. Chron. Retrieved from https://smallbusiness.chron.com/different-types-pricing-strategy-4688.html. Copyright © 2018, Hearst Newspapers, LLC.