JOUR 250 Lecture Notes - Lecture 22: Horse Length, Market Segmentation, Marketing Mix

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jademammoth966

22 Feb 2018

School

Ball State University

Department

Journalism

Course

JOUR 250

Professor

O' Malley

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Document Summary

Chapter 7-- l situation analysis: factual statement of the organization"s current situation and how it got there. Co history, products + services, sales volume, share of market, competitive status, etc. Swot: uses the faces to point out strengths, weaknesses, opportunities, and threats marketing objectives: Corporate: goals of the co stated in terms of profit on return. Meet satisfying objectives: shift management"s view of the org from a producer of products or services to a satisfy of target market needs. Sales target objectives: objectives that relate to a company sales and my be expressed in terms of total sales volume, by product or customer style, market share, growth of sales, or gross profit steps to achieve objectives: Info from situational analysis should be organized into swot setting advertising objectives: tasks to be taken on by advertising specific, realistic, measurable advertising strategy: how to accomplish the advertising objectives using 2 substrategies. Creative: creative team"s guide fro writing and producing an ad.

Related Questions

Prepare a Project Proposal that includes the nature of the project, the sources of information you plan to use, and the most important concepts and techniques to be applied.

The outline topics should include the following:

A brief summary of the company you have chosen, such as business lines, and its industry;
Information sources (e.g. industry studies, market share reports, financial statements, etc.);

The analyses you will include in your study. This will likely require a summary review of the material in later sections of the course, such as competitor analysis;

If you have access to, and permission to use, internal company documents, please discuss so in the outline.

You are required to complete a course project that reveals mastery in application of the strategic managerial accounting and performance management concepts emphasised in the course. This involves reporting on a specific organisation within an industry, analysing the firmâs competitive position (e.g., market position, cost competitiveness, market power, innovation, SWOT, etc.), its managerial accounting approach, and the non-financial performance metrics should be used in monitoring firm performance, all aligned with value creation for the chosen firm.

This project should be a formal business report that covers all elements of the strategic management process: mission statement, strategic goals, strategic objectives, actionable plans (if available, analyse the specific budget planning process used by the Firm; if not, search for relevant articles for the subject company and recommend a process that you believe is appropriate for the company), and performance monitoring processes employed by the Firm, including its board of directors. These processes and strategies are to be supported with managerial accounting and performance management concepts.

In selecting a company to analyze, first focus on information availability. If you work for the company, ensure that you can obtain the information required to do a proper job on this assignment. If you choose a company you do not work for, begin your search among larger public companies with ample information available. Company websites are often the best place to begin, in particular the investor relations site. Look for annual reports, quarterly reports, press releases, white papers, and other sources of information (e.g., public filings, such as for the U.S. Securities & Exchange Commission at http://www.sec.gov./

Your tasks are to:

Â· Briefly describe the business of the Firm (i.e. industry segments, geographic service area, market position, and size as measured by revenues, employees, and market capitalisation). Describe the mission statement and strategic objectives of the Firm.
Â· Analyse the behaviour of expenses of the business, distinguishing between variable costs and fixed costs (or estimates thereof), describe the relationships between sales volume, costs, and profit. Estimate a break-even point for the Firm and support with relevant calculations and discussion.

Â· Discuss the level of the Firmâs operating leverage.

Â· Assess the budgeting process and procedures for the Firm, bearing in mind the context of the business and its characteristics. Identify methods employed for budgeting, managerial reporting, and control, and make recommendations for improvement. Justify your recommendations.

Â· Summarise the Firmâs performance over the past five years in terms of sales and earnings growth, return on equity, return for shareholders, and non-financial performance measures (e.g. market share, recognition, customer satisfaction).

Â· Analyse the fixed capital needs (i.e. capital expenditures) of the company, and discuss significant capital projects, how they fit with the strategic goals of the Firm. Evaluate risks associated with major capital projects and suggest risk mitigation strategies. Justify your suggestions.

Â· Briefly profile two or three key competitors and analyse the basis for competition (e.g., is it cost? Innovation? Capital intensity? Branding?). Compare the Firm with these key competitors on key performance metrics (e.g., revenue growth, profit margins, return on equity, financial leverage, receivables turnover, payables turnover, asset turnover, operating costs, market share, market share growth, etc.). Identify areas where the Firm may outperform or underperform the peer group, and suggest improvements for weaknesses.

Â· Design a Balanced Scorecard for the Firm.

This project should follow a structured approach and should be prepared and presented as a professional business report.

lilacmanatee501

Budget constraints on marketing research are most likely to leadto:

		a wrong interpretation of the research results.
		an incorrectly formulated sample size and design.
		incorrect reasons regarding why the research is needed.
		pretest measurements of competitive brand sales.

2 points

QUESTION 2

Stacy, a marketing manager at a beverage manufacturing firm,conducts a customer survey to determine the reason for a dip in thesales of Zeal, a cola, in the last quarter. The survey reveals thatthere is an immediate customer demand requiring the use of organicingredients to Zeal. The firm decides to enhance Zeal with theintroduction of organic ingredients. This new product would fallinto the category of ________.

		new-to-the-world products
		new-to-the-firm products
		improvements and revisions of existing products
		additions to existing product lines

2 points

QUESTION 3

Lauren is a brand manager at a company that manufacturestoothpaste. She wants to increase the sales of an existing brand oftoothpaste. To do so, she calls for a meeting with a teamcomprising of members from the administrative department, the humanresource department, and the finance department. All of thesemembers work together to come up with ways to improve the company'stoothpaste brand positioning. Such a team is an example of a________.

		category-management system
		cross-functional team
		departmental team
		marketing-management system

2 points

QUESTION 4

________ are methods used to determine how resources should beallocated among the various strategic business units (SBUs) in anorganization.

		Vector models
		Matrix models
		Variable models
		Portfolio models

2 points

QUESTION 5

For high-involvement products that require extensive decisionmaking, marketers should provide consumers with:

		ready availability of the products in a variety of outlets andat competitive prices.
		factual information that highlights the competitive advantage ofthe products.
		minimum information to encourage a quick purchasing process.
		eye-catching advertisements and in-store displays to encouragethem to make a purchase.

2 points

QUESTION 6

The number of times, on average, that audience members areexposed to an advertisement within a given time period is knownas:

		frame rate.
		time to target market.
		reach intensity.
		average frequency.

2 points

QUESTION 7

Ariston Inc. manufactures a wide range of personal careproducts. Its method of sales forecasting involves conductingdetailed surveys of retailers who stock the company's productstoward the end of a fiscal year. The aim of this survey is toestimate the quantity of Ariston's products the retailers arelikely to order in the next fiscal year. Which of the followingapproaches of sales forecasting is Ariston using?

		Customer expectations method
		Time-series analysis
		Sales forecast composite method
		Jury of executive opinion method

2 points

QUESTION 8

________ carry broad product assortments and compete on thebasis of offering a good selection in different product categoriesand offering lower prices on products in their largeassortments.

		Specialty stores
		Mass merchandisers
		Category killers
		Convenience stores

2 points

QUESTION 9

Which of the following best describes personal selling?

		Personal selling is a paid form of communications about anorganization, its products, or its activities that is transmittedthrough a mass medium.
		Personal selling is an activity that offers customers orresellers a direct inducement for purchasing a product.
		Personal selling is a nonpaid form of communication that seeksto influence the attitudes, feelings, and opinions of stockholders,suppliers, employees, and political bodies about anorganization.
		Personal selling is face-to-face communication with potentialbuyers to inform them about and persuade them to buy anorganization's product.

2 points

QUESTION 10

Which of the following best explains why Delicia Co., amanufacturer of potato chips, prices each bag of potato chips at 99cents rather than $1.00?

		To encourage consumers to think the chips are less expensive
		To increase sales by offering the chips at a discountedprice
		To create a signal that these chips are exceptionally fine
		To attract those consumers who are not too sure about thequality of the chips

2 points

QUESTION 11

Which of the following is NOT a step in the marketing researchprocess?

		Performance of the research
		Plan of the research
		Preview of the research
		Preparation of the research report

2 points

QUESTION 12

In the context of product purchasing, the diffusion ofinnovation is:

		used to describe the ability of an organization to createentirely new products.
		applied to products at the introductory stage of the productlife cycle.
		used to describe an audit task.
		the spread of a product through the population.

2 points

QUESTION 13

Distribution allowances are typical examples of ________.

		push strategies
		profile strategies
		pull strategies
		mixed promotional strategies

2 points

QUESTION 14

Which of the following is a benefit of mathematical modeling asa marketing research method?

		It is ideal for investigating customer beliefs, attitudes,satisfaction, and other issues.
		It generates a substantial number of ideas when compared withother methods.
		It is involved in the analysis and interpretation of primarydata exclusively.
		It provides an efficient way to study problems with extremelylarge secondary data sets.

2 points

QUESTION 15

Identify the persuasion objective of the sales force in personalselling.

		To reassure consumers of product or service superiority throughdemonstrable actions
		To enable prompt delivery of the product or service that exceedscustomer expectations
		To ensure immediate follow-up calls and visits to addressunresolved or new concerns
		To clearly distinguish attributes of a firm's products orservices from those of competitors

2 points

QUESTION 16

Which of the following statements is true of the influences ofprice, product, and promotions on consumer behavior?

		Consistent bombarding of messages about a product will put offpotential consumers.
		Salespeople do not have a direct impact on consumer behavior andits patterns.
		Value-conscious consumers buy products on the basis of placerather than other attributes.
		Marketing communications play a critical role in informingconsumers about products and services.

2 points

QUESTION 17

According to the VALSâ¢ model, Experiencers are:

		driven to demonstrate success.
		driven by a desire for social or physical activity.
		driven by knowledge and principles.
		driven by the level of resources and innovation.

2 points

QUESTION 18

In which of the following stages of the new product developmentprocess is the new product proposal evaluated and responsibilityfor a project assigned to a project team?

		Product development
		Idea screening
		Test marketing
		Project planning

2 points

QUESTION 19

Which of the following is an advantage of secondary data overprimary data?

		Secondary data sources are limited, making the information morevaluable.
		Secondary data are cheaper to obtain and utilize.
		Secondary data are collected specifically for the researchproblem under investigation.
		Secondary data are always available for strategy-specificresearch questions.

2 points

QUESTION 20

An automobile manufacturing firm decides to meet all itssuppliers while planning to manufacture a new automobile that is aminor variant of an existing model in terms of design andperformance. The firm wants to provide its loyal customers withautomobiles at a low price without compromising on performance.According to authors Crawford and DiBenedetto, this new productfalls into the category of ________.

		price redemptions
		repositionings
		price exemptions
		cost reductions

skyweasel924

Fraud case Studies Case 2 - Pleasant Pasta

Overview

Pleasant Pasta (the Company) was the largest dry pasta producer inNorth America. As a manufacturer and marketer of pasta
products, Pleasant competed for market share with many othercompanies in a low-growth industry. Despite the competitive
nature and maturity of the pasta market, Pleasantâs management teamwas determined to become a high-growth company.
After successfully executing an initial public offering (IPO),Pleasantâs management team developed a short-term strategywhich
would allow the Company to achieve the rapid growth promised to itsnew investors. Specifically, Pleasant decided to focus
on marketing its products under generic brand names owned byseveral leading grocery chains. While the strategy did allow
the Company to initially achieve the sales and earnings growthmanagement desired, it became clear that Pleasant could not
continue to rapidly grow its business solely through genericchannels of distribution. Aware of this, management devised along
term performance plan that outlined aggressive top and bottom linenumbers for fiscal years 2002, 2003, and 2004. The strategic
initiative referred to as âExtraordinary Performanceâ unambiguouslylaid out managementâs primary objective for the next three
years: grow revenue, grow earnings, and grow earnings per share(EPS) at all costs.

Achieve the âExtraordinaryâ targets
Shortly after the start of fiscal year 2002, it became obvious thatPleasant Pasta was having difficulty meeting the aggressive
âExtraordinaryâ targets set by management. Due primarily to theincreasing popularity of low-carbohydrate diets like theAtkins
diet, consumer demand for pasta had dropped, rather dramatically.Plummeting demand coupled with a historically low industry
growth rate created a difficult environment for the Company tooperate in. Dissatisfied with performance, the CEO assembled
a task force to focus on âclosing the gapâ between theâExtraordinaryâ targets and actual results. In these meetings,the
CEO boldly stressed that their task would only be accomplished whenreported results met analystsâ expectations. As a direct
consequence, task force members were committed to the fullexecution of strategic profit initiatives to enable theCompany
to meet its âExtraordinaryâ targets. Without a doubt, the tone atthe top set by the CEO in these meetings had an impact on
task force members because most considered the use of improperaccounting practices to be part of the plan to achieve the
âExtraordinaryâ initiatives.

Close the Gap
To start, the task force focused on the âtrade promotionâ expenseaccount to help close the gap between actual and targeted
profit. For example, the Company had recently acquired severalother large pasta brands. A routine aspect of promoting such
brands involved product discounts, promotions, advertising, andvolume rebates that together made up âtrade promotionâ
expenses. Based on a detailed financial analysis, it was clear thatthese types of expenses were consistently greater than the
amount âaccruedâ for in the budget, which reduced actual profits.To remedy this, the task force decided that Pleasant Pastawas
justified in including a portion of promotional expenses into thebrand acquisition costs, thereby capitalizing a portion of thecosts
that had previously been expensed. These unsupported journalentries reduced the trade promotion expenses by greater than
50%, boosting the Companyâs actual profits.
The second phase of the task forceâs strategic profit initiativefocused on reducing manufacturing expenses. Since its IPO,the
Company had grown at a tremendous rate and taken on a number ofsignificant capital projects to expand production lines.
Under GAAP, the Company should have separated out internal laborcosts from ordinary operating expenses, capitalizing only the
labor related to the capital projects. However, the task forcedetermined that it would be best to reduce operating expensesby
capitalizing all budgeted internal labor and manufacturingoverruns. To further contain rising expenses, the task forcerefused to
write off âobsoleteâ assets, which had the effect of reducingreported depreciation expense.
As the pasta market continued to shrink, the task force realizedthat its efforts to suppress the Companyâs expenses weresimply
not enough. Determined to meet the CEOâs objectives, the task forcebegan to concentrate on ways to increase Pastaâs reported
sales revenue. Reduced demand for pasta had driven many customerorders well below the contractually agreed upon minimum
purchase volume. As such, numerous customers were contractuallyrequired to pay the Company a higher price on purchases Â© 2014KPMGLLP, a Delaware limited liability partnership and the U.S. memberfirm of the KPMG network of
independent member firms affiliated with KPMG InternationalCooperative (âKPMG Internationalâ), a Swiss entity. All
rights reserved. Printed in the U.S.A. The KPMG name, logo andâcutting through complexityâ are registered trademarks
or trademarks of KPMG International. NDPPS 309511 Case 2 PleasantPasta until contractual volume numbers were met. Under GAAP, thepremiums paid on each order should have been recognized as
revenue immediately. However, at the direction of the task force,the Company not only recognized the revenue associated with
the actual price increases, but also their projected priceincreases in order to boost reported earnings. Further, the taskforce
authorized significant promotional discounts that resulted inseveral material sales in the final days of each period. Unwillingto fall
short of the âExtraordinaryâ targets, the task force evenimproperly recognized revenue before shipping the product in manyend
of year transactions.
Overall, the task forceâs efforts to improperly reduce costs andinflate revenues resulted in an overstatement of EPS by 23%in
2002, 41% in 2003, and 59% in 2004. Additionally, over thefraudulent years, Pleasant Pastaâs pretax income wasimproperly
inflated by greater than 66%, which helped to fuel a significantstock price increase for the company.

Fraud Discovery
In 2008, Pleasant Pasta publicly admitted that the Companyâs 2002,2003, and 2004 consolidated financial statements were
materially misstated due to fraud. In its admission and subsequentrestatement, the Company attributed the fraud to an
inadequate system of internal controls as well as managementâsfailure to maintain an appropriate tone at the top. Thediscovery
was made through a combination of an internal whistle-blower,significant management turnover, and ultimately an SEC
investigation.

i would like a summry for the case .

burgundytermite294

JOUR 250 Lecture Notes - Lecture 22: Horse Length, Market Segmentation, Marketing Mix

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