HOMEWORK

Module 1 – Case

BUYER BEHAVIOR, MARKET ANALYSIS, AND PUBLIC RELATIONS

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Assignment Overview

Marketing, Pricing, and Selling to Customers

Companies large and small create marketing strategies and make pricing decisions that affect the success of products or services. Before a product is introduced, the business must research who is most likely to buy it, at what price, and how they can communicate with that group.

Case 1 Resources

The Marketing Concept

 (2021)

Creating a Marketing Strategy

 (2021)

What Is a Product?

 (2021)

Developing a Marketing Mix

 (2021)

Market Segmentation

 (2021)

Creating Products That Deliver Value

 (2021)

Pricing Strategies and Future Trends

 (2021)

Trends in Developing Products and Pricing

 (2021)

Case Assignment

After completing case readings, head to IBISWorld (Click Additional Library Resources on the Library Portal Page) and select an industry that interests you; one that an entrepreneur or small business can enter.

Industry Background

Write a background of the industry. Include key figures and information about the industry, its performance, and outlook. Report the most important information. 

Cite and reference

 IBISWorld. (1/2 page)

The Players

Next, write about the competitiveness of the industry and a COVID-19 (Coronavirus) Impact. Complete this section with an overview of its two largest players: their target markets and how they differentiate themselves. 
Cite and reference
 IBISWorld. (1 page)

Marketing Assessment

Do an internet and social media search on the industry’s two largest competitors and provide an analysis of how they market their products, deliver value, and talk about price. It is important to provide citations for your research. (1 page)

Entrepreneurial Application

Based on the research above, provide advice for an entrepreneur who wants to enter the industry. How can the new business differentiate itself? What is its target market? How can it compete on price or value? (1/2 page)

No quotations are permitted in this paper. Each paragraph (except the introduction and conclusion) must contain at least one in-text 

citation

.

Since you are engaging in research, be sure to 

cite

 and 

reference the sources in APA format

. NOTE: failure to use research with accompanying citations to support content will result in reduced scoring “Level 2-Developing” on the grading rubric.

This is a professional paper; not a personal one based on feelings. It must be written in the third person; this means words like “I”, “we”, and “you” are not appropriate.

Assignment Expectations

Use the attached APA-formatted template (

MKT301 Case1

) to create your submission.

· The template is set up in APA 7: double-spacing, font, margins, headings, page breaks, APA help links.

Your submission will include:

· Trident University International’s cover page

· A paper with APA citations (2- to 3-sentence introduction, 3-page body, 2- to 3-sentence conclusion)

· The reference list page in APA format

BUYER BEHAVIOR, MARKET ANALYSIS, AND PUBLIC RELATIONS

Assignment Overview

Marketing Public Relations

Connections between marketing and public relations have grown stronger over the last decade. Some experts have coined Marketing Public Relations (MPR) as an area of expertise in the field. MPR is another way to communicate messages to the market, specifically the internet which is already highly saturated with all sorts of ads and promotions.

Session Long Project 1 Resources

What is Marketing Public Relations?

 (2021)

Public Relations Marketing: 5 Ways Not To Fail

 (2021)

Public Relations Helps Build Goodwill

 (2021)

Why The Most Memorable — And Powerful — PR Is Personal

 (2021)

13 Tactics To Counter Negative Publicity When Internal Issues Become PR Crises

 (2021)

How To Rebrand After A PR Crisis: Nine Experts Weigh In

 (2021)

How PR & Marketing Work Better Together

 (2019)

SLP Assignment 

Small Business MPR Communication

For this project, select a small business. It can be a store from your hometown, a favorite family-owned restaurant, or an online business. You may even use a small club, charity, group, or house of worship for the assignment. While large corporations use MPR, it can be successful in a local market because a few extra sales or one or two new customers can make a large difference for a small business.

An MPR communication combines a press release with blog writing. You want to make something about your chosen business interesting and newsworthy. It could be a story about the owners, the company helping the community, an event, or an innovative product or service it offers.

Headline

While you are writing, think about a great title that will make people want to read.

The Lead (50 words)

· Start with an introduction that grabs the reader’s attention and make them want to find out more.

· Includes who, what, where, when, and why plus subject, verb, and object.

The Body (200-300 words)

· Focus on a single topic. Follow up with supporting information (the most important content first).

· Divided into 3- to 5-line paragraphs.

Boilerplate Information

· The organization’s name, address, etc. A little about the company (2-3 sentences).

· EXAMPLE: Click on a 

News Release

 to see what Trident uses. Your version will be shorter.

SLP Assignment Expectations

Use the attached template (

MKT301 SLP1

) to create your submission.

Your submission will include:

· A 1-page, single-spaced MPR communication for your chosen small organization or business.

1

3

MKT301 Case 1

MKT301 Case 1

Your Name

Trident University International

MKT301 Principles of Marketing

Due Date

MKT301 Case 1

Remember to always indent the first line of a paragraph (use the tab key) or paragraph formatting (see below). The introduction should be short (2-3 sentences). The margins, font size, spacing, and font type (bold or plain) are set in APA format. While you may change the names of the headings, do not change the formatting or style of font except as specified below. This template uses Times New Roman 12-point. You may also use: Calibri (11), Arial (11), Georgia (11) or Lucida Sans Unicode (10).
After completing case readings, head to IBISWorld (Click Additional Library Resources on the Library Portal Page) and select an industry that interests you; one that an entrepreneur or small business can enter.

No quotations are permitted in this paper. Each paragraph (except the introduction and conclusion) must contain at least one in-text citation. Since you are engaging in research, be sure to cite and reference the sources in APA format. NOTE: failure to use research with accompanying citations to support content will result in reduced scoring “Level 2-Developing” on the grading rubric. This is a professional paper; not a personal one based on feelings. It must be written in the third person; this means words like “I”, “we”, and “you” are not appropriate.

Industry Background

Write a background of the industry. Include key figures and information about the industry, its performance, and outlook. Report the most important information.

Cite and reference

IBISWorld. (1/2 page)

The Players

Next, write about the competitiveness of the industry and a COVID-19 (Coronavirus) Impact. Complete this section with an overview of its two largest players: their target markets and how they differentiate themselves. Cite and reference IBISWorld. (1 page)

Marketing Assessment

Do an internet and social media search on the industry’s two largest competitors and provide an analysis of how they market their products, deliver value, and talk about price. It is important to provide citations for your research. (1 page)

Entrepreneurial Application

Based on the research above, provide advice for an entrepreneur who wants to enter the industry. How can the new business differentiate itself? What is its target market? How can it compete on price or value? (1/2 page)

Conclusion

Add some concluding remarks: 2 to 3-sentence conclusion.

References

Below are some basic rules to follow when creating a reference list:

· Begin your reference list on a new page.

· The word References should be centered and bold at the top of the page.

· Double-space your reference list.

· For each author, list the last name first followed by the initials for their first and middle names.

· Arrange your reference list alphabetically by the last name of the author.

· Use a hanging indent after the first line of your citation (Word does this for you). Type your entry and then click “Paragraph” on the HOME tab to create the “hanging indent.”

APA has a handout

for the most common types of references.

 

COVID-19 (Coronavirus) Impact Update

IBISWorld’s analysts constantly monitor the industry impacts of current events in real-time – here is an update of how this industry is likely to be impacted as a result of the global COVID-19 pandemic:

· Revenue for the Online Mortgage Brokers industry increased in 2020 due to surging demand from businesses conducted online. Industry revenue is expected to continue increasing, albeit at a slowe rate. For more detail, please see the Current Performance chapter.

· Due to a decline in the 30-year conventional mortgage rate, demand for online brokers has increased during COVID-19 (coronavirus) pandemic. For more detail, please see the Current Performance chapter.

· Demand for residential mortgages has increased over the five years to 2021, especially during the coronavirus pandemic as more consumers sought out newer and larger homes. For more detail, please see the Products and Service chapter.

Industry Definition

Closing time: Rising mortgage rates are expected to subdue refinancing activity

This industry includes companies that broker home mortgages online and companies that provide online mortgage marketplaces. It excludes banking and nonbanking institutions that originate home mortgages through online channels, but does include revenue from brokers that earn commissions on online home mortgages originated by these institutions.

Supply Chain

Key External Drivers

 

Percentage of business conducted online

30-year conventional mortgage rate

House price index

OD – External competition

Housing starts

2nd Tier Suppliers

 

Office Furniture Manufacturing in the US

 

 

1st Tier Suppliers

 

Computer & Packaged Software Wholesaling in the US

 

 

Paper Wholesaling in the US

 

 

Copier & Office Equipment Wholesaling in the US

 

 

Data Processing & Hosting Services in the US

 

 

Internet Service Providers in the US

 

 

Online Mortgage Brokers

1st Tier Buyers

 

Consumers in the US

 

 

Commercial Banking in the US

 

 

2nd Tier Buyers

 

Construction in the US

 

Real Estate and Rental and Leasing in the US

Related Industries

·
Commercial Banking in the US

·

Savings Banks & Thrifts in the US

·

Real Estate Loans & Collateralized Debt in the US

·

Loan Brokers in the US

Related International Industries

· Non-Depository Financing in Australia

· Non-Depository Financing in the UK

· Non-Banks and Other Financial Institutions in New Zealand

Major Players

Lendingtree Inc.

Zillow Group, Inc.

Main Activities

 

The primary activities of this industry are

· Brokering residential mortgages online

· Brokering mortgage refinances online

· Brokering home equity loans online

· Providing an online mortgage marketplace

The major products and services in this industry are

· Residential mortgages – single-family residences

· Residential mortgages – multi-family residences

· Refinancing

· Home equity loans

Similar Industries

 

Commercial Banking in the US
Operators in this industry provide financial services to retail and business clients in the form of commercial, industrial and consumer loans.

Savings Banks & Thrifts in the US
Operators in this industry accept customer deposits and place them into interest-bearing products. Industry firms then use these deposits to provide consumer and business loans.

Real Estate Loans & Collateralized Debt in the US
Operators in this industry provide lending services by selling securities, such as bonds, notes and stock or insurance policies to the public.

Loan Brokers in the US
Operators in this industry arrange loans, especially mortgages, by bringing borrowers and lenders together on a commission or fee basis.

Related International Industries
 

Non-Depository Financing in Australia
The industry includes financiers that lend money or provide credit to retail, corporate and wholesale customers. Financiers in the industry raise funds through wholesale channels and do not incur the liabilities of deposits. Industry operators also lease plant, equipment and machinery on a financial services basis. Deposit-taking financial institutions are excluded from the industry.
Non-Depository Financing in the UK
This industry includes companies that lend money or otherwise grant credit. These organisations do not fund their lending through deposits as a bank or building society would. Instead, they sell bonds and shares and sell loans on to other companies. Participants range from non-depository mortgage finance companies to pawnshops.

Non-Banks and Other Financial Institutions in New Zealand
Industry operators primarily provide finance to retail and commercial customers. This includes both deposit-taking and non-deposit taking firms that provide credit to retail, corporate and wholesale customers primarily on a financial-service basis. The industry excludes operating banks.

Additional Resources

Federal Housing Finance Agency

Mortgage Bankers Association

The National Association of Mortgage Brokers

Industry Jargon

 

FINTECH

Financial technology; technology that aims to compete with traditional financial methods in the delivery of financial services to improve delivery to consumers

MORTGAGE BROKERS

Intermediaries between lenders and borrowers that facilitate a mortgage transaction on a commission fee basis.

MORTGAGE LENDERS

Provide funds to borrowers in exchange for an agreement to pay back the original mortgage loan principal with interest.

MORTGAGE ORIGINATION

The process of creating a mortgage, during which a borrower submits financial information and a lender determines the borrower’s eligibility and the characteristics of the loan.

REFINANCING

The replacement of an existing debt obligation with a debt obligation under different terms. This also includes cash-out refinancing loans.

Glossary

 

BARRIERS TO ENTRY

High barriers to entry mean that new companies struggle to enter an industry, while low barriers mean it is easy for new companies to enter an industry.

CAPITAL INTENSITY

Compares the amount of money spent on capital (plant, machinery and equipment) with that spent on labor. IBISWorld uses the ratio of depreciation to wages as a proxy for capital intensity. High capital intensity is more than $0.333 of capital to $1 of labor; medium is $0.125 to $0.333 of capital to $1 of labor; low is less than $0.125 of capital for every $1 of labor.

CONSTANT PRICES

The dollar figures in the Key Statistics table, including forecasts, are adjusted for inflation using the current year (i.e. year published) as the base year. This removes the impact of changes in the purchasing power of the dollar, leaving only the “real” growth or decline in industry metrics. The inflation adjustments in IBISWorld’s reports are made using the US Bureau of Economic Analysis’ implicit GDP price deflator.

DOMESTIC DEMAND

Spending on industry goods and services within the United States, regardless of their country of origin. It is derived by adding imports to industry revenue, and then subtracting exports.

EMPLOYMENT

The number of permanent, part-time, temporary and seasonal employees, working proprietors, partners, managers and executives within the industry.

ENTERPRISE

A division that is separately managed and keeps management accounts. Each enterprise consists of one or more establishments that are under common ownership or control.

ESTABLISHMENT

The smallest type of accounting unit within an enterprise, an establishment is a single physical location where business is conducted or where services or industrial operations are performed. Multiple establishments under common control make up an enterprise.

EXPORTS

Total value of industry goods and services sold by US companies to customers abroad.

IMPORTS

Total value of industry goods and services brought in from foreign countries to be sold in the United States.

INDUSTRY CONCENTRATION

An indicator of the dominance of the top four players in an industry. Concentration is considered high if the top players account for more than 70% of industry revenue. Medium is 40% to 70% of industry revenue. Low is less than 40%.

INDUSTRY REVENUE

The total sales of industry goods and services (exclusive of excise and sales tax); subsidies on production; all other operating income from outside the firm (such as commission income, repair and service income, and rent, leasing and hiring income); and capital work done by rental or lease. Receipts from interest royalties, dividends and the sale of fixed tangible assets are excluded.

INDUSTRY VALUE ADDED (IVA)

The market value of goods and services produced by the industry minus the cost of goods and services used in production. IVA is also described as the industry’s contribution to GDP, or profit plus wages and depreciation.

INTERNATIONAL TRADE

The level of international trade is determined by ratios of exports to revenue and imports to domestic demand. For exports/revenue: low is less than 5%, medium is 5% to 20%, and high is more than 20%. Imports/domestic demand: low is less than 5%, medium is 5% to 35%, and high is more than 35%.

LIFE CYCLE

All industries go through periods of growth, maturity and decline. IBISWorld determines an industry’s life cycle by considering its growth rate (measured by IVA) compared with GDP; the growth rate of the number of establishments; the amount of change the industry’s products are undergoing; the rate of technological change; and the level of customer acceptance of industry products and services.

NONEMPLOYING ESTABLISHMENT

Businesses with no paid employment or payroll, also known as nonemployers. These are mostly set up by self-employed individuals.

PROFIT

IBISWorld uses earnings before interest and tax (EBIT) as an indicator of a company’s profitability. It is calculated as revenue minus expenses, excluding interest and tax.

REGIONS

West | CA, NV, OR, WA, HI, AK
Great Lakes | OH, IN, IL, WI, MI
Mid-Atlantic | NY, NJ, PA, DE, MD
New England | ME, NH, VT, MA, CT, RI
Plains | MN, IA, MO, KS, NE, SD, ND
Rocky Mountains | CO, UT, WY, ID, MT
Southeast | VA, WV, KY, TN, AR, LA, MS, AL, GA, FL, SC, NC
Southwest | OK, TX, NM, AZ

VOLATILITY

The level of volatility is determined by averaging the absolute change in revenue in each of the past five years. Volatility levels: very high is more than ±20%; high volatility is ±10% to ±20%; moderate volatility is ±3% to ±10%; and low volatility is less than ±3%.

WAGES

The gross total wages and salaries of all employees in the industry.

Headline:

While you are writing, think about a great title that will make people want to read.

The Lead

Start with an introduction that will grab the reader’s attention and make them want to find out more. Includes who, what, where, when, and why plus subject, verb and object. (50 words)

The Body

Focus on a single topic. Follow up with supporting information (the most important content first). Divided into 3-to-5-line paragraphs. (200-300 words)

Boilerplate Information

The organization’s name, address, etc. A little about the company (2-3 sentences). EXAMPLE: Click on a

News Release

to see what Trident uses. Your version will be shorter.

##

Add Your Name Here

Discussion: Marketing, Social Media Trends, and TikTok

 

Previous 

Next 

Social Media and Marketing

Social Media is more than catching up with friends, sharing one’s life or food choices, talking politics, or creating videos and memes that can entertain. When used properly, social media is a powerful tool for marketers. With so many channels to choose from, professionals need to make good choices communicating with consumers.

Module 1 Discussion Week 1 Resources

Buyer Behavior

 (2021)

Trends in Social Media

 (2021)

Nine Effective Ways Marketers Can Avoid Social Media Gaffes

 (2021)

Five Essential Digital Marketing Tips for Beginners

 (2021)

Chief Meme Officer: Possibly marketing’s best force multiplier right now

 (2021)

Introduction to Social Media and Digital Marketing

 (2019)

Social Media and Technology Trends

 (2019)

Week 1 Discussion Post

Based on this week’s readings or other research, share at least two trends in social media marketing that organizations need to know about. (Research Support Required)

This post should be 1-2 paragraphs in length (at least 100 words). Since you are engaging in research, be sure to 

cite

 in the body of the post and 

add a reference list in APA format

. NOTE: failure to use research with 

accompanying in-text citations

 to support content will result in reduced scoring “Level 2-Developing” on the grading rubric.

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