Download Link to SEM I Exercises for 2-6 thru 2-10-12 Grp #3

DAY 1: 2-6-12 Any time you have completed an assignment for
that day - make sure you practice activities on Quia such as
Hangman, Rags to Riches, etc.
ACTIVITY 1: Student will complete Promotion Exercise 1:
Task
Scenario – a go-karting business is just setting up in your local area. It will be opening in three
weeks. In addition to an ‘arrive and drive’ option, the business is hoping to attract group
bookings for parties as well as offering corporate entertainment. It will have a cafe bar as well as
the track. Put together a recommendation for the owners about how they should go about
promoting the opening of the new track. Justify your recommendations. BE SPECIFIC!!!!!
ACTIVITY 2: Student will complete Promotion Exercise 2 on-line:
http://www.uefap.com/vocab/exercise/matching/pppp.htm COPY AND PASTE RESULTS INTO
THIS DOCUMENT
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DAY 2: 2-7-12
ACTIVITY 1: Students to Test on Objective 2.01
ACTIVITY 2: After testing, students to view
Also view: http://news.yahoo.com/video/whoknew-19124225/pizzatoppings-pepperoni-tuna-peas-or-squid Regarding Pizza delivery
DAY 3: 2-8-12
ACTIVITY 1: After discussing key vocabulary terms, have students log onto the
internet to research demographics in Durham County, NC. (information as of 2010
census)
1.
2.
3.
4.
5.
High school graduates
College graduates with at least a bachelor's degree
% in change in population from 2000 to 2010
Median household income
Are there more females or males living in Durham County
ACTIVITY 2: Out of the NFL, NBA, MLB and NASCAR - which group do
you think would have the most loyal fan base?
Use the internet to research NASCAR demographics - answer the following questions:
http://www.gommi.com/rftc_media/race_demographics.htm
1. What is the income level of the largest % of NASCAR Fans?
2. What region of the US has the largest number of NASCAR Fans?
3.
4.
5.
6.
What region of the US has the least number of NASCAR fans?
The average NASCAR fan consumes how many hours of media per week?
Which NASCAR event has the highest attendance by fans?
Explain the term "track side sampling"
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DAY 4: 2-9-12
Knowing your Market
In an earlier lesson we learned that your market is the people who you expect will be buying
your product or paying for your service. In any place you will see all types of people each with
their specific needs and wants. You certainly can’t be expected to meet everybody’s needs- that
would be impossible! Look at your school. You have the students, the teachers, the lunchroom
staff, the janitors, the school nurse, the principal. Each of these people has very different needs.
The specific group of people that you want to sell to is called your target market. An example
might be if you were selling skateboards. I doubt your target market would be retired people. It
would likely be kids. Knowing your target market makes it easier for you to come up with
marketing strategies, or the way in which you will sell your product and get people to want to
buy it.
Exercise One
In Group A there is a list of various products and services that a business might sell. In Group B
there are various target markets. Match the terms using the appropriate #
1
Math tutoring
Women over 70
2
Lipstick
10 yr. old girls
3
Lawn mowing service
Middle aged men
4
Popsicles
Single mothers
5
Backpacks
Teens
6
French cuisine restaurant
Rich men over 60
7
Baseball cards
Elementary school kids
8
$.25 candies
NBA nuts
9
PSL's
NASCAR nut
10
Lakers merchandise
12 yr. old boys
11
Dale Earnhart Cap
TV nuts
12
Time Warner cable services
Football nuts
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There are many kinds of marketing strategies. You might decide that the best thing for your
product is to rent a shop and sell from those premises. Advantage: ease of start-up.
Disadvantage: Can mean long hours such as a Video Store.
You might decide to sell your product by going door to door asking people if they want to buy.
Or you might need to sell only to shop keepers so that they stock your item and customers buy
from them. You might decide it’s a good idea to advertise in the local newspaper or it
might be better to advertise in a national, glossy magazine. Your marketing strategy will be
decided by your target market.
If for example, you have a lawn service business where you mow people’s lawn, clip their hedge
and rake up leaves, a door-to-door approach may be an excellent marketing strategy for you.
A large amusement park such as Carowinds may advertise in a national glossy magazine, such
as "Southern Family Vacations". Selling things such as baseball cards or a used car - - the ad
would probably be in a local newspaper. It would not make much sense to advertise a used car
in Durham, NC in a newspaper in Miami, Florida unless it was a classic car.
Exercise Two
Kelly has a business that manufactures two types of lunch boxes. The first type is a basic silver,
metal lunch box with a thermos inside. The other type of lunch box is plastic with different
scenes from the Harry Potter movies both outside and on the thermos inside.
a) Describe her target market for each of these lunch boxes.
b) Can you suggest a few marketing strategies that could be effective for each of the two lunch
boxes.
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EXERCISE THREE
You always need a product that has good enough quality that someone
will part with their hard earned cash to buy it, but people buy for different reasons. Some are
looking for the best price and some are looking for the best quality and price is not an option.
Pricing your product or service must take this into consideration. You also must know what price
your competition is selling the same or similar product. Pricing is part of your marketing strategy.
Of course, a low price means that you will have to sell many to break even. Can your target
market buy the amount that your break even point is demanding?
Chico is starting a hamburger joint. He believes that his main target market will be the teenagers
from the nearby high school. He hopes that they will pile in at lunchtime, after school and on
weekends. He calculated his break even point when selling his hamburgers at $6.00 each, at a
1000 hamburgers a month which works out that he must sell about 40 burgers a day. He also
knows that three blocks away the burgers are sold at $2.50 each. If Chico lowers his price $1.50
for each burger and makes them a little bit smaller he can get a break even point of 1600 per
month or about 66 burgers a day.
A) What do you think Chico should do?
B) Can you help him with a marketing strategy? (The answer is YES Present your ideas here)
C) Use one piece of paper to design a poster on your computer to attract Chico’s
target market to his hamburger joint. Take time to create the project - - something
you would not be ashamed of posting yourself. We will print these out and put up in
the room - - make them nice!!!!!
Create the poster on the next blank page. If you
prefer to have it landscape - create a new document and name it Chico's HB joint.
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DAY 5:
2-10-12
ACTIVITY 1: Student will complete an exercise on psychographic marketing - matching
terms relating to wannabee's buying fake Rolexes, successful businessmen wanting brief
commercials so they can move onto achieving something else., etc.
Psychographics marketing
Psychographics marketing may be a concept that you are not fully
aware of, but it is an essential part of marketing. Psychographics
marketing involves dividing potential customers into groups, according
to their psychological characteristics. This sounds incredibly
complicated, but it is actually a relatively simple concept once you
understand it.
What is psychographics marketing?
Most marketing involves certain demographics, which refers to factors
such as the age, location, marital status, ethnicity and religion of the
person in question. Psychographics goes beyond this to ask questions of the lifestyles, behavior and
attitude of the person in question to build up a more detailed picture of who they are. These tend to be
directly related to consumerism, and the type of products that people prefer to buy based on their lifestyle
choices.
Why is psychographics marketing important?
Surveys that ask these types of questions are vital to market researchers, who often use them to gain
information on people who have bought their products in the past, or may be tempted to do so in the
future. Psychographics marketing can work alongside demographic marketing to allow advertisers to
promote their products effectively, in order to sell their products in the long term. As many advertisers
concentrate predominantly on demographics, using psychographics marketing as well can leave
advertisers one-step ahead of their competition. Match the terms in the table below that you think would
make sense:
1
Sailboats
The belonger
2
Gray headed man in convertible
Purchases "Made in America"
3
Spending time with family/friends
Prefers brief ads - in a hurry
4
Investment banker
Wannabe
5
The belonger
Recycles - ride bicycles
6
The achiever
Feels inadequate - sucker for TV shopping
7
Fake Rolexes
Mid-life crisis
8
Socially Conscious
Leather jackets - tattoos - beards
9
Needs Driven
The achiever
10
Harley Davidson Rider
Loves the sea
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ACTIVITY 2:
market segmentation - behavioural segmentation
Behavioural segmentation divides customers into groups based on the way they
respond to, use or know of a product. Behavioural segments can group consumers
in terms of:
Occasions
When a product is consumed or purchased. For example, cereals have traditionally
been marketed as a breakfast-related product. Kelloggs have always encouraged
consumers to eat breakfast cereals on the "occasion" of getting up. More recently,
they have tried to extend the consumption of cereals by promoting the product as
an ideal, anytime snack food.
Usage
Some markets can be segmented into light, medium and heavy user groups
Loyalty
Loyal consumers - those who buy one brand all or most of the time - are valuable
customers. Many companies try to segment their markets into those where loyal
customers can be found and retained compared with segments where customers
rarely display any product loyalty. The holiday market is an excellent example of
this. The "mass-market" overseas tour operators such as Thomson, Airtours, JMC
and First Choice have very low levels of customer loyalty - which means that
customers need to be recruited again every year. Compare this with specialist,
niche operators such as Laskarina which has customers who have traveled with the
brand in each of the last 15-20 years.
Benefits Sought
An important form of behavioural segmentation. Benefit segmentation requires
Marketers to understand and find the main benefits customers look for in a
product. An excellent example is the toothpaste market where research has found
four main "benefit segments" - economic; medicinal, cosmetic and taste.
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EXERCISE
Student will go on-line and research the products a cruise
line has to offer. He/she will plan a trip for a family
vacation, and then plan a trip for a romantic get-away - student is to observe the difference in how the
products are being marketed. Share information below costs, activities, entertainment, etc.:
FAMILY VACATION
ROMANTIC GET-AWAY
CLASS DISCUSSION:
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