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Reflection about Principles of Marketing

For this project, you will do a write-up throughout the semester

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You will find an article in a recent edition of Bloomberg Business Week. It should be something that you find interesting. Then, you’ll analyze the content and put together a short (approximately one page, no more than 2 pages) write-up in which you report your analysis.

Each write-up should include:

Basic information: ∂ The date of publication: March 14, 2018, ∂ The title and author of the article: Having Trouble Marketing to Millennials? Invent a New

Generation. Author: Jennifer Kaplan ∂ Page numbers on which the article can be found: (please find below link)

https://www.bloomberg.com/news/articles/2018-03-14/beermaker-bets-on-new-marketing-tactic- inventing-a-generation

∂ A (brief) summary of the article: The article is about a beer manufacturing company known as MillerCoors introducing a new product line in the market with a specific target market. In particular, it targeting a generation that would ordinarily be categorized under millennials. The target is people born between 1993 to 1997. This is a group that would want to try out new things but does not have a lot of money. This is why the company said the tagline for the beer is “Good, cheap beer. Wait what?”

 

Analysis:

∂ How does this article relate to what we’ve discussed in class? Why would a marketing professional be interested in the article, and how would they apply it to the marketing decisions they make? Be sure to use course terms. Part of your grade will include how well and correctly you use course terms when discussing your article.

This article is related to what has been discussed in class as it focuses on market segmentation and targeting. Showing how the beer company has identified a target group through engaging in demographic and psychographic segmentation. Marketing professionals should be interested in the article as it discusses the issue of market segmentation and target, and how businesses can position their products in the market. MillerCoors, the beer manufacturing has been able to do market segmentation through identifying a group of people sharing characteristics that cause them to have similar product needs, with the product being cheap beer.

 

MKTG 3723 – Penghao Wang

∂ Why do you think this article was published in this magazine? Consider how it connects to the broader business world. If your major is not marketing, it may be helpful to consider what value someone in your major would get from the article if they were to read it.

This article was published in the magazine as it discusses an aspect of business marketing that can help businesses achieve market share and increase revenues. Marketing is a key area in business as it can determine the success of a company. Segmentation, target, and position are issues in marketing that affect the success of a marketing campaign. This article can be of use to a business that is having a problem with identifying a target group that best suit their product line.

 

MKTG 3723 – Penghao Wang

Reflection 3 Use this assignment to reflect upon what you’ve read and learned over the course of this module. Also use it as an opportunity to ask for clarification on any topics you didn’t fully understand, or questions that came up while you were working. Think of it as the participation and discussion you might do in a face-to-face class. I’ll clarify things and answer your questions just like I would in class or during office hours. Full credit will be given to reflections that seem thought-out and well-considered.

1. First Impressions: List thoughts or ideas that came to mind as you did the work for the week.

1) Proper identification of target group through market segmentation can enable a business to be successful.

2) Product position is currently being implemented through public relations or corporate social responsibilities.

3) Segmentation is all about identifying of unique feature characteristic in a group that will attract that particular group to the product that is being introduced into the market.

2. Key Terms: List words and concepts you felt were important this week.

Segmenting and Targeting Markets Criteria for successful segments Targeting tools Cannibalization Positioning Marketing Research Collecting and analyzing the data Uses of internet for research Product Concepts Branding strategies and Trademarks Product life cycles Services and Nonprofit Organization Marketing

3. Questions: List any questions that came to mind while you completed the work this week. These questions can be about the content, a topic related to the content, or about assignments or the format of the class.

1) About the segmentation bases on the concept of segmentation. In particular, how do the four bases identified in class connect to the identification commonalities of consumers? The bases am referring to producer, resellers, governments, and institutions.

2) Do consumers choose products because of goods or services? Are there any market data to illustrate?

 

MKTG 3723 – Penghao Wang

Assignment 3 (Chapter 8) 1. Go to the American Airlines website and explore the American Airlines Advantage loyalty program. This link will take you directly to the loyalty program page, but you will likely need to click around and visit other pages for all the relevant information.

a) List and briefly describe the target market segments you see, as they pertain to the loyalty program.

The advantage of being a member of the loyalty program is that one is able to earn miles when they fly on American oneworld® and other participating airlines. The target segments are indicated by what one can use with the miles earned. The following are some of the target segments that can be identified:

1. Business travels-One can also use the miles earned to fly to nearly 1,000 destinations worldwide. 2. Use miles to upgrade to first or business class on American and select partner airlines. 3. Tourists-One of the things that an individual who has earned miles can use the miles for is on

vacation packages, car rentals and hotel stays. 4. Online shoppers-one can also use the miles earned to purchase retail products.

b) What bases for segmentation is American Airlines using?

Demographic segmentation Psychographic segmentation

c) Why do you think so? Provide specific details that link the loyalty program to the basis of your explanation.

Demographic has been used because there is a specific type of American Airline that one has to use to earn miles under the loyalty programs. In particular, one has to use American oneworld®. The loyalty program target people engaging in traveling such as on business trips and tourist which goes into psychographic segmentation. This is evidenced by the way one can use the earned miles.

 

MKTG 3723 – Penghao Wang

2. Look at the American Airlines ads below, continue to browse their website, and take a look at some of their recent press releases.

a) How do you think they are trying to position American Airlines?

Safety and security-On October 03, 2018 the Airline lauded the Congress for passing the FAA bill that would provide needed certainty, enhance safety, and help the company better serve their team members, customers and airports throughout their network.

Meals-In a press released on September 24, 2018 the airline announced a partnership Zoes kitchen to introduce a new food-for-sale menu for customers seated in Main Cabin that will; offer delicious, light and healthy choices onboard. The aim is to elevate the inflight dining experience.

Convenience-In October 2, 2018 the airline announced the enhancing of the 2019 schedule by increasing the number of destinations covered in Mexico, the Caribbean and Latin America from United States.

Comfort-In a press released September 25, 2018 explain how American Airline was named a “Five Star Global Airline” by Airline Passenger Experience Association (APEX). The rating is based on customer overall rating based on comfort, cabin service, food and beverage, entertainment and WI- FI.

b) What positioning base(s) are they using? Price and quality Product class Product user

c) Why do you think so?

This is because most of the activities that Airline is engaged in is aimed towards making the quality of the service superior to those of its competitors, through focusing on the needs of the user. For example, improving on meals, luxury and safety goes to the fact that the Airline is focused on product quality by investing in the user. Naturally, quality attracts class, therefore, product quality brings about class.

 

MKTG 3723 – Penghao Wang

3. Now, create a positioning map featuring American Airlines and 4 of their closest competitors. You may choose the competitors and the dimensions for your map. See Exhibit 8.3 on page 151 for an example. How you create your map is up to you – you can use Word’s shapes tools, create it in PowerPoint, or draw it by hand – but please put your image directly into this document.

Price Market Position

. United Airlines

American Airlines

Delta Jet Blue

South West

High

Low

Quality-low

 

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