MKT401 MODULE 1-5 SLP
Module 1 – SLP
INSIDE THE BUYER’S MIND
Your SLP assignment in MKT401 is to show how an organization of your choosing gets prospective, potential, and/or present customers to discriminate or generalize between its products and those of competitors.
For SLP 1, start with the following information about your chosen organization:
NAME and ADDRESS of the organization or company you have chosen;
The organization’s MISSION (what business it is in or what it is supposed to do.)
The GENERAL OBJECTIVES or GOALS of the organization
The CUSTOMERS it serves
The PRODUCTS (GOODS and/or SERVICES) it provides
The company’s primary COMPETITORS, and a brief summary of how each (including your company) competes.
How does your company get prospective, potential, and/or present customers to DISCRIMINATEand/or GENERALIZE between your company’s products and competitive products?
When finished, submit your 2-3 page SLP1 by the module deadline.
SLP Assignment Expectations
In preparing your SLP1; you need to demonstrate your learning of the concepts and frameworks for analysis outlined in the modular learning objectives. In particular, you are expected to:
Explain how your company differentiates its products so that potential and/or prospective buyers of its products see those products as similar to and/or different from competitive products.
Note that this assignment does NOT require you to prepare a detailed essay. Use the numbering and section headings indicated below for each of the seven topics indicated above followed by a discussion of each designated topic.
The Company and Its Competitive Position
- NAME and ADDRESS
- MISSION
- GENERAL OBJECTIVES
- CUSTOMERS
- PRODUCTS
- COMPETITORS
- PRODUCT STRATEGY: DISCRIMINATE and/or GENERALIZE
How Do I Select a Company for Analysis?
Selection of a organization that will enable you to obtain the required information is critical. So before choosing the organization you will study, look through the Summary of SLP Topics to make sure that you understand the information you will need for each of the modular parts of your SLP. Keep in mind that much information is available online. That means that just because you have access to the business next door, or have a strong military retail presence very close to you, there may not be much relevant information available that is compatible with the topics. Since this is a general “business” type course, you should try to find a traditional type of business to study.
Keep in mind these options when selecting a company:
- An office of an organization or company that “markets” a product or service in which you work and that is willing to let you have access to the information that the project requires;
- An organization in which you have been employed by in the past or a not-for-profit organization with which you have some contact;
- An organization on the Internet
- Your own business or plans for a business
Over the session, for the most part, you will analyze your company in conjunction with the material presented in the current module.
Note that for module 2 onwards you should include all your prior SLP sections in numerical order when submitting your current assignment.
Module 2 – SLP
DIVERSITY BREEDS SIMILARITY
SLP2 asks you to consider how your chosen organization is challenged by outside factors affecting the buying behaviors of its buyers and to consider if the products and/or services sold by your company are the result a buyer’s culture, social status, physical environment or other factors, and how the organization reacts to such factors.
Make sure you use the following section headings for each of the Question/Issues:
List the main PRODUCTS (goods and/or services).
DESCRIBE IN DETAIL each product or service giving the reader a rich and deep understanding of the markets for those products or services.
How is the purchase of each product or service influenced by ENVIRONMENTAL FACTORS?
Assess the organizations’ products or services relative to those of competitors based onENVIRONMENTAL FACTORS.
When finished, submit the combined SLP1 and SLP2 by the module deadline.
SLP Assignment Expectations
In preparing your SLP2; you need to demonstrate your learning of the concepts and frameworks for analysis outlined in the modular learning objectives. In particular, are expected to:
Explain how your company uses environmental factors to differentiate its products so that potential and/or prospective buyers of its products see those products as similar to and/or different from competitive products.
Note that this assignment does NOT require you to prepare a detailed essay. Use section headings for each of the first 7 topics and the 4 topics indicated above followed by a discussion of each designated topic.
SLP2 should be 2-3 pages added to SLP1, which should be revised in line with your core professor’s comments.
The Company and Its Competitive Position
NAME and ADDRESS
MISSION
GENERAL OBJECTIVES
CUSTOMERS
PRODUCTS
MARKETS
COMPETITORS
PRODUCT STRATEGY: DISCRIMINATE and/or GENERALIZE
Environment
ENVIRONMENTAL FACTORS THAT AFFECT PRODUCT PURCHASE
COMPETITIVE POSITION OF PRODUCTS BASED ON ENVIRONMENTAL FACTORS
Module 3 – SLP
STIMULATING NEED
SLP3 asks you to consider how your chosen organization stimulates need.
Make sure you use the following section headings for each of the Question/Issues:
Describe the TYPES OF PROMOTION USED by your company.
What changes (additions or subtractions) in promotion (need stimulation) would you RECOMMENDin order to increase sales?
In terms of stimulating need, how effective would be product placement in a non-traditional retailer? Would you recommend that your company place your products in NON-TRADITIONAL PLACES? Why or why not? If so, where?
When finished, submit the combined SLP3 and SLP1-2.
SLP Assignment Expectations
In preparing your SLP3; you need to demonstrate your learning of the concepts and frameworks for analysis outlined in the modular learning objectives. In particular, are expected to:
- Explain how marketers stimulate needs
- Explain how your company uses promotion to stimulate need.
Note that this assignment does NOT require you to prepare a detailed essay. Use section headings for each of the first 7 topics and the 4 topics indicated above followed by a discussion of each designated topic.
SLP3 should be 2-3 pages added to SLP1-2, which should be revised in line with your core professor’s comments.
The Company and Its Competitive Position
NAME and ADDRESS
MISSION
GENERAL OBJECTIVES
CUSTOMERS
PRODUCTS
MARKETS
COMPETITORS
PROCUCT STRATEGY: DISCRIMINATE and/or GENERALIZE
Environment
ENVIRONMENTAL FACTORS THAT AFFECT PRODUCT PURCHASE
COMPETITIVE POSITION OF PRODUCTS BASED ON ENVIRONMENTAL FACTORS
Promotion
TYPES OF PROMOTION
USED
RECOMMENDED
NON-TRADITONAL PRODUCT PLACEMENT
Module 4 – SLP
LISTING ALTERNATIVES, WEIGHING ALTERNATIVES, AND SELECTING AN ALTERNATIVE
In preparing SLP 4, consider how the outcome of the buying decision process changed during the recent economic recession.
Make sure you use the following section headings for each of the Question/Issues:
-Why did sellers experienced a CHANGE IN SALES?
–Did the FACTORS prospective and potential buyers use in weighing what your company offers change?
-Did the WEIGHTS on the factors prospective and potential buyers use in weighing what your company offers changed?
– In terms of the DOWNTURN, why did certain types of business suffer more than others? How does your company fit into this picture?
-How do the MODELS of consumer buyer decision-making differ from the models of business buyer decision-making?
When finished, submit the combined SLP4 and SLP1-2-3 by the module deadline.
SLP Assignment Expectations
In preparing your SLP4; you need to demonstrate your learning of the concepts and frameworks for analysis outlined in the modular learning objectives. In particular, are expected to:
Explain how changes in the economic environment affect the criteria used to evaluate alternatives and the weights placed on those criteria.
Note that this assignment does NOT require you to prepare a detailed essay. Use section headings for each of the first 7 topics and the 4 topics indicated above followed by a discussion of each designated topic.
SLP4 should be 2-3 pages added to SLP1-2-3, which should be revised in line with your core professor’s comments.
The Company and Its Competitive Position
NAME and ADDRESS
MISSION
GENERAL OBJECTIVES
CUSTOMERS
PRODUCTS
MARKETS
COMPETITORS
PRODUCT STRATEGY: DISCRIMINATE and/or GENERALIZE
Environment
ENVIRONMENTAL FACTORS THAT AFFECT PRODUCT PURCHASE
CHANGE IN SALES
DOWNTURN
COMPETITIVE POSITION OF PRODUCTS BASED ON ENVIRONMENTAL FACTORS
Promotion
TYPES OF PROMOTION
USED
RECOMMENDED
NON-TRADITONAL PRODUCT PLACEMENT
Factors used in listing, weighing, and selecting
MODEL OF THE DECISION-MAKING PROCESS
FACTORS
WEIGHTS ON THE FACTORS
Module 5 – SLP
HANDLING CUSTOMER FRUSTRATION
In preparing SLP 5, please respond to the following questions which direct you to consider customer frustration and how the company you are auditing handles that frustration.
- List and describe ways that potential or prospective buyers are FRUSTRATION with your company or its products or services.
- How does your company try to AVOID pre-purchase buyer frustration?
- How does PROMOTION deflect potential or prospective buyer frustration? In terms of your answer to this question, note the similarities and differences between how your company handles potential or prospective buyer frustration and how Jet Blue handled potential or prospective buyer frustration.
When finished, submit the combined SLP5 and SLP1-2-3-4 by the module deadline.
SLP Assignment Expectations
In preparing your SLP5; you need to demonstrate your learning of the concepts and frameworks for analysis outlined in the modular learning objectives. In particular, are expected to:
Explain how changes in the economic environment affect the criteria used to evaluate alternatives and the weights placed on those criteria.
Note that this assignment does NOT require you to prepare a detailed essay. Use section headings for each of the first 7 topics and the 4 topics indicated above followed by a discussion of each designated topic.
SLP5 should be 2-3 pages added to SLP1-2-3-4, which should be revised in line with your core professor’s comments.
The Company and Its Competitive Position
NAME and ADDRESS
MISSION
GENERAL OBJECTIVES
CUSTOMERS
PRODUCTS
MARKETS
COMPETITORS
PROCUCT STRATEGY: DISCRIMINATE and/or GENERALIZE
Environment
ENVIRONMENTAL FACTORS THAT AFFECT PRODUCT PURCHASE
CHANGE IN SALES
DOWNTURN
COMPETITIVE POSITION OF PRODUCTS BASED ON ENVIRONMENTAL FACTORS
Promotion
TYPES OF PROMOTION
USED
RECOMMENDED
NON-TRADITONAL PRODUCT PLACEMENT
Factors used in listing, weighing, and selecting
MODEL OF THE DECISION-MAKING PROCESS
FACTORS
WEIGHTS ON THE FACTORS
Handling Frustration
SOURCES OF FRUSTRATION
COMPANY AVOIDS FRUSTRATION
PROMOTION DEFLECTS FRUSTRATION
