12 Jul Your consulting firm has been hired to help with a campaign effort for the client company of your selected product/service.
Need tutoring on 2 assignments. One assignment is last minute (today).
First two attachments are the instruction and the previous assignment.
Purpose
The purpose of this assignment is to apply segmentation and targeting techniques to potential new subsets for a marketing campaign. This connects to course learning outcomes of constructing market segments of target customers for a product or service.
Assignment Task Overview
For this assignment, you will assume the role of a marketing analyst. Your consulting firm has been hired to help with a campaign effort for the client company of your selected product/service. You will communicate your results in a professional memorandum.
There are three steps to this assignment. Review all three steps before you begin.
Step 1: Refer to the product/service you chose for your Value Proposition Assignment.
The product/service you chose for the Value Proposition Assignment in Week 2 will be the subject of this assignment.
Review any feedback you received on your Value Proposition memo. You will be writing a longer, more detailed memo about the same product/service for this assignment.
Follow the specific instructions outlined in Steps 2 and 3 below.
Step 2: Respond to each of the following questions as they relate to your product/service. Note the research and references requirement.
Your market segmentation memo will have three major sections.
Respond to all the questions in each section.
Your memo also must meet the research and references requirement in Step 3.
I. Market Segment Analysis
Determine and describe the current primary segment. The client has an interesting question. What target market can be perceived by current messaging for the product/service? Visit the public website for your company's product/service. Based on the information available and any other publicly available information, infer the primary target market based on the messaging you find.
Describe the primary segment you believe your company is targeting for this product/service. Focus only on this product/service (e.g., for Disney+, focus on just the streaming service, not the parks or other Disney offerings).
Describe the primary segment in terms of the behavioral, demographic, and psychographic characteristics for the segment. Give this segment an appropriate name. See, Segmenting and Targeting Markets and Customers in Learning Resources.
Classify the primary segment according to one of the VALS types discussed in the Segmenting and Targeting Markets and Customers Learning Resource.
II. New Market Segments
Construct new segments. Your client company is interested in diversifying and building its target customer base for this product/service in the US market. Who is currently being underserved or overlooked? Who could be better served by being addressed directly?
Construct and describe two new potential segments or subsegments for your company to target for this product/service for the US market. Describe each new segment in terms of its behavioral, demographic, and psychographic characteristics. Give each segment an appropriate name. Follow steps 1-4 of the process described in the Selecting Target Markets Learning Resource. Begin by identifying the customer need for this product/service. Then, break the market down into subgroups. Develop profiles of target segments. Do some secondary research on your two segments. Note: You will not need to develop a full research plan or conduct primary research for this assignment.
Of the two potential segments or subsegments you have created, which of the two has greater market potential for your company to target? Why?
Classify your new segment or subsegment according to one of the VALS types discussed in the Segmenting and Targeting Markets and Customers Learning Resource.
III. Recommendation
Present the best new segment or subsegment. What is the new segment or subsegment you recommend your company target for its product/service?
Create a simple customer persona to present your new segment and illustrate that segment in a table with the following fields and information relevant to the product/service: [segment name] [representative photo] [demographic] [background] [needs] [goals] [challenges] [perceptions] [motivations] [VALS type] See customer persona example here: 3 Examples of a Customer Persona – Simplicable
Any product changes needed by this segment or subsegment? Are any product/service changes required to serve the segment you have identified? If so, what are they?
How attractive/valuable is this segment or subsegment? Based on your research, is the segment you have identified attractive enough to justify an extended marketing campaign for your company? Or, should the campaign be one of more limited duration? Why?
Step 3: Format your submission to comply with these requirements.
Communicate your case analysis results in a Microsoft Word document formatted as a professional memorandum. Your memo will be longer than a typical one-page memo. It is reasonable to expect this assignment to be about five pages in length, single-spaced.
Here is a sample professional memo.
Here is a tutorial on writing a professional memo: memo (umgc.edu)
Address your memo to Vice President of Marketing Tiffany Morrow. Assume Ms. Morrow is your boss at a fictional consulting firm called "Destiny Marketing." The memo is from you, and your role is a marketing analyst at Destiny Marketing. This memo is regarding the company, which is your client, and the client's product/service. Your memo will communicate to Ms. Morrow your analysis. All questions in Step 2 must be included in your memo. A memo does not have a cover page.
Research and References Requirement
All statements of fact within the memo must be supported by a credible source, and that source must be cited using APA in-text citations. See, Is My Source Credible?
Include a list of your sources in APA format. The reference list is required and should appear at the end of the memo in the space where attachments are normally found. [insert source for APA reference list format here.
,
TO: Apple Marketing Team
FROM: Farrin Conway
DATE: June 27, 2023
SUBJECT: Value Proposition
Value position defines a significant statement, comprising a specific problem with the
audience, how products and services solve the problem and communicating intangible
and quantifiable benefits of the solution. In Apple TV+, the product solves customers'
problem and offer intangible and quantifiable benefits of the solution. The Apple TV+
is a premium streaming service that provides high-quality, exclusive, and original
content to customers in the US market, providing real-time solutions to streaming
services' cost, availability, and content originality. The Apple TV + benefits constitute
the great remote, application of smart home technology, a wide range of app
compatibility, multi-user experience, and portability. Therefore Apple TV+ is a
premium steaming service that provides high-quality, exclusive, and original content
to customers in the US market, providing real-time solutions to streaming services cost,
availability, and content originality.
2
exclusive
and original content
APPLE TV+
,
DATA EXERCISE #2
Due at the End of Week 5
Format of the Project:
The Data Exercise must be posted to the LEO Student Assignments as a Attachments
are limited to a maximum two files in doc, docx., xls. xlsx., or rtf. formats. OTHER
FORMATS ARE NOT ACCEPTABLE, will not be reviewed or graded.
Please note that hand-written and scanned works, pdf. files, jpg. files, as well as
files posted in google drive, will not be accepted or graded.
Please note that starting from the Fall 2020 semester the UMGC moved to the 7th
Edition of the APA Style. The links to the 7th Edition of the APA Style
methodology are posted in Content – Course Resources – Writing Resources.
No more than 20% of the text of the project should be made up of quotes.
Please note that Use of the 7th Edition APA Citation Methodology is required for
all parts of the assignment
Written projects:
1. Must be typed, double-spaced, in 12-point Times New Roman or Arial font, with
one-inch margins
2. Must have the title page in APA-7th style
3. Must have in-text citations in APA-7th edition style
4. Must have reference list in APA-7th edition style. Please note that you must
reference the data you are using for the project
5. Must be prepared using word processing software (Microsoft Word preferred)
DATA EXERCISE #2
Consists of three parts
Part 1: The Unemployment Rate (weight 30% of the assignment
grade) Complete the following exercise
Visit the Bureau of Labor Statistics Web Site, www.bls.gov/news.release/empsit.toc.htm
(http://www.bls.gov/news.release/empsit.toc.htm). Select Employment Situation
Summary.
Please note that using the data from previously published releases and
summaries will produce grade zero for this part of the project.
Write a report (1 – 2 pages double spaced) in your own words to answer the
questions:
1. What month (and year) is summarized? What was the unemployment rate for
that month? How does that rate compare with the rate in the previous month?
2. What were the unemployment rates for adult women, teenagers, blacks,
Hispanics, and whites? How did these rates compare with those a month earlier? 3.
What factors make it difficult to determine the unemployment rate? 4. Why is
unemployment an economic problem?
5. What are the noneconomic effects of unemployment?
6. Who loses from unemployment?
7. Please analyze and discuss the significance of the data that you received
for this Data exercise.
8. Reflect on what you have learned from this exercise.
Part 2: The Inflation Rate (weight 30% of the assignment
grade) Complete the following exercise:
Visit the Bureau of Labor Statistics Web Site, www.bls.gov/news.release/cpi.toc.htm
(http://www.bls.gov/news.release/cpi.toc.htm). You will be using ―Consumer Price
Index Summary‖ and the ―Table 1 Consumer Price Index for All Urban Consumers (CPI-
U): U. S. city average, by expenditure category ―.
Please note that using the data from previously published releases and
summaries will produce grade zero for this part of the project.
Write a report (1 – 2 pages double spaced) in your own words to answer the
questions:
1. What month (and year) is summarized? What was the level of the CPIU for that
month? (See Table 1 ―Consumer Price Index for All Urban Consumers‖). What does
this number represent?
2. What was the rate of inflation (percentage change in the CPIU) for the last
available month? How does that rate of inflation compare with the rate in the
previous month?
3. What was the rate of inflation (percentage change in the CPIU) for the last 12
months for ―all items‖?
4. Which two categories of goods or services had the greatest price increase for the
last 12 months? Which two categories of goods or services had the lowest price
increase for the last 12 months?
5. Which two categories of goods or services had the largest price decrease for the
last 12 months?
6. Who loses from inflation?
7. Who benefits from inflation?
8. Please analyze and discuss the significance of the data that you received
for this Data Exercise.
9. Reflect on what you have learned from this exercise.
Part 3: Unemployment Data by Labor Force Groups and Duration (30% of the project grade)
Go to https://www.govinfo.gov/app/collection/erp
This is the home page of the Economic Report of the President.
Click on the most recent available Report, scroll down, and download individual tables as Excel.
Please note that using the data from previous Reports will produce grade zero for
this part of the project.
1. Find unemployment data (Table B–27.—Civilian unemployment rate) for each
year 2000 to present. Use three labor force groups: men 20 years and over,
women 20 years and over, both sexes 16 to 19 years of age.
a. Present the result in your project as a table.
b. Create one or more charts (line graph, bar graph, etc.).
2. Find unemployment data (Table B–27.—Civilian unemployment rate) for each
year 2000 to present by educational attainment (25 years and over). Use the
following groups: less than an high school diploma; high school graduates, no
college; some college or associate degree; bachelor’s degree and higher. a.
Present the result in your project as a table.
b. Create one or more charts (line graph, bar graph, etc.).
3. Use the Economic Report of the President (Table B–28.—Unemployment by
duration and reason) to find data on the duration of unemployment for each year
2000 to present.
a. Present the result in your project as a table.
b. Create one or more charts (line graph, bar graph, etc.). Write a report (2 pages double-spaced) in your own words about the results you
received.
In this paper consider, but do not be limited to the following:
1. Which years had the highest and lowest unemployment rates? How do the rates
compare among these groups?
2. Compare the unemployment rates by educational attainment. How do the rates
compare among these groups? What relationship, if any, do you find? 3. Compare
the distribution of unemployment by duration over these years. Which years had
the highest and lowest unemployment duration? What relationship, if any, do you
find?
4. Demographic studies show that the proportion of teenagers and minorities in the
U.S. population is likely to increase in the near future. In your opinion, what
implications, if any, will this trend have on the unemployment rate?
5. Please analyze and discuss the significance of the data that you received
for this Data exercise.
6. Reflect on what you have learned from this exercise.
PRESENTATION OF THE DATA EXERCISE AND USE OF APA CITATION
METHODOLOGY (10%) of the project grade):
• Organization, format, and presentation of paper including the title page, introduction, body, and summary. Begin each section with a subheading; use the subheadings described in the assignment (3% of the project grade).
• Use of tables, figures, and other graphics to summarize and support analysis presented in the paper. All tables and charts should have the numbering system: ―Table 1‖, a substantive title, and a reference to the source of the information. (3% of the project grade).
• Research sources and significance of research information and data, and use of APA citation methodology (4% of the project grade).
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