I need this case study done, all the instructions are attached and also the questions regarding the case study are in topic 1 power point slides 24 to 26.

MKT 701 Case Study Analysis Guidelines Learning Objectives: 1. Identify the range of decisions implicit in strategic marketing management and planning. 2. Apply a variety of analytical frameworks to making such decisions. 3. Demonstrate critical thinking in decisions that are innovative and sustainable. The case analyses should be approached as if you are a marketing manager that has been asked to present three long-term strategies to the board of directors of the brand/product in question. Based on your understanding of the case and external research on the CURRENT situation, what are the three best strategies to revitalize this brand/product to the same target market and/or alternative markets? Please do not limit yourself to the specifics of the case when formulating your strategies. Think 'BIG PICTURE' (internal/external factors, complementary products/industries, sustainability, etc.). Strategic recommendations should be measurable and broad enough to encompass the direction of the brand for at least 5 years. At the same time, analyses should explain in detail the logic and process behind implementing such initiatives. Please use the below rubric as a guideline and checklist for your submissions. Critical Thinking Rubric Not Proficient 0 Some Proficiency Proficient Highly Proficient 3-4 5 1-2 Total Points Received (x2) Identified and Explained Issues Fails to identify, summarize, or explain the main problem or question, or represents the issues inaccurately or inappropriately. Identifies main issues but does not summarize or explain them clearly or sufficiently. Successfully identifies and summarizes the main issues, but does not explain why/how they are problems or create questions. Clearly identifies and summarizes main issues and successfully identifies implicit issues, addressing their relationship to each other. Recognizes Stakeholders and Contexts Fails to accurately identify and explain any context for the issues or presents problems as having no connections to other contexts. Shows some understanding of the influences of theoretical contexts on stakeholders, but does not identify any specific ones relevant to situation at hand. Correctly identified all the empirical and most of the theoretical contexts relevant to all the main stakeholders in the situation. Not only correctly identifies all the contexts relevant to stakeholders, but also finds minor stakeholders and contexts and shows conflicts of interests among them. Takes Intellectual Risks Stays strictly within the guidelines of the assignment. Considers new directions or approaches without going beyond the guidelines of the assignment. Incorporates new directions or approaches to the assignment in the final product. Actively seeks out and follows through on untested and potentially risky directions or approaches to the assignment in the final product. Evaluates Assumptions Fails to identify and evaluate any of the important assumptions behind the recommendations made. Identifies some of the most important assumptions, but does not evaluate them Identifies and evaluates all the important assumptions, but not the ones deeper in the backgroundthe Not only identifies and evaluates all the important assumptions, but also some of the more hidden, more abstract ones. Not Proficient 0 Some Proficiency Proficient Highly Proficient 3-4 5 1-2 Total Points Received (x2) Innovative Thinking Merely restates existing ideas. for plausibility or clarity. more abstract ones. Experiments with creating a novel or unique idea, format, or product. Actually creates a novel or unique idea, identifies a new void, or proposes a new product. Extends a novel or unique idea, question, format, or product to create new knowledge or knowledge that crosses boundaries. Topic 1: Defining Marketing for the 21st Century What is Marketing? Marketing is an organizational function that creates, communicates, and delivers value to customers. Marketing should focus on \"meeting needs profitably\" and \"delivering a consistently higher standard of living\". What is Marketing Management? The aim of marketing management is to make selling superfluous in that they should know and understand consumers so well that the product sells itself. Marketing managers should make consumers so ready to buy that all the company needs to do is make the product available. eBay recognized that consumers needed an online source for locating unrelated items they wanted to buy. IKEA noticed that people wanted quality furniture but at low prices. What is Marketed? Goods (appliances, electronics, food, etc.) Services (US economy is 70-30 services to goods) Experiences- some organizations actually sell the experience as their core product (Disney, Starbucks) Persons (celebrities, politicians) What is Marketed? (Continued) Places (Las Vegas, California, GulfShores) Organizations (universities, corporations, nonprofits, etc.) Information (Siemens isn't only selling Xrays or MRIs, but information. Their business is really health care information technology and the end product is an electronic patient record) Ideas (Revlon does not sell cosmetics.) Modern Exchange Economy A market is a collection of buyers and sellers who transact over a particular product or product class (such as the housing market). Manufacturers go to resource markets (raw material markets, labor markets, money markets), buy resources and turn them into goods and services, and sell finished products to intermediaries, who sell them to consumers. Consumers sell their labor and receive money with which they pay for goods and services. The government collects taxes to buy goods from resource, manufacturer, and intermediary markets and uses them to provide public services. Key Markets Consumer Markets: Companies selling mass consumer goods/services focus on establishing a strong brand image by developing a superior product and packaging, ensuring availability, and backing it with engaging communications and reliable service Business Markets: Companies selling industrial goods/services often face well-informed professional buyers skilled at evaluating competitive offerings Key Markets (Continued) Global Markets: Companies in the global marketplace must decide which countries to enter; how to enter each (as an exporter, licenser, joint venture partner, contract manufacturer, or solo manufacturer); and how to adapt features to each country Nonprofit Markets: Companies selling to nonprofit organizations with limited purchasing power such as churches, universities, charitable organizations, and government agencies A metamarket is a cluster of complementary products closely related in the minds of consumers. The automobile metamarket consists of new/used car dealers, financing companies, insurance companies, mechanics, spare parts dealers, etc. Types of Needs Stated needs - customer wants an inexpensive car Real needs - customer wants a car whose operating cost, not initial price, is low Unstated needs - customer expects good service from the dealer (Residence Inn) Delight needs - customer would like the dealer to include GPS navigation system Secret needs - customer wants friends to see him/her as elegant or classy Marketers help consumers learn what they \"want\" by promoting what they \"need\" (communications industry, luxury auto market) Value and Satisfaction Value is a combination of quality, service, and price (qsp), which is called the customer value triad. Value perceptions increase with quality and service but decrease with price. Satisfaction reflects a consumer's judgment of a product's perceived performance in relation to expectations. If expectations are met, they are satisfied. If not met, they are dissatisfied. If exceeded, they are delighted. Major Market Forces Industry convergence- Coming together of computing and consumer electronic industries (Apple, Sony, Samsung) Retail transformation- retailers are beginning to focus more on abstract experiences rather than products (Dick's Sporting Goods, Bass Pro Shops) Disintermediation - eliminating the human aspect by automating the marketing process (Amazon, eBay, E-Trade). Major Market Forces (Continued) Crowdsourcing- outsourcing the tasks usually assigned to marketers or researchers to the 'crowd' or potential markets. Lego Ideas is a website dedicated to crowdsourcing consumer ideas for new Lego set designs. Designs receiving 10,000 votes are reviewed for possible development. If the Lego set is picked up, the creator gets 1% of the product's total net sales) Amazon's Mechanical Turk is an online marketplace that crowdsources human intelligence tasks. The site connects requesters for tasks with vetted workers willing to complete them from around the world. The data generated from Mturk has been shown to be as reliable as more traditional methods. Major Societal Forces Consumer information/participation- Consumers have ability to find multitude of information online (Urbanspoon, IMDB, Wikipedia, TripAdvisor, etc.) They also have more power to influence peer opinions and marketers try to harness this power (blogs, designing commercials, etc.) Consumer resistance- many feel there are few real differences between brands so they show less loyalty and are more price sensitive New Company Capabilities With the internet, marketers are able to collect richer information about markets, prospects, and competitors (loyalty cards, frequency of store visits, buying preferences, Info Scan, Behavior Scan) Social media has become an important resource for companies in reaching consumers (Dell made $2 million from coupons provided through Twitter and another $1 million from people who started at Twitter and bought a more expensive computer from the website) Marketing in Turbulent Times During sporadic spurts of prosperity and recession, marketing managers should: Secure existing market share from core customer segments - be prepared to ward off attacks from competition Push aggressively for greater market share from competition - a good sign of competitor weakness is slashing of marketing budget or reductions in promotion. Capitalize! Seek to increase marketing budget - marketing is usually the first to suffer downsizing, although it's a fatal mistake Emphasize core values - focus on what defines your organization to reinforce stability and trust for consumers Drop programs that are not profitable Don't discount your best brands- Discounting established brands tells the market your price was too high before and your products are not worth the future price once discounts are over. If you want to appeal to price conscious customers, create a new brand with lower prices Company Orientations The production concept holds that consumers prefer products that are widely available and inexpensive. Managers of production-oriented businesses concentrate on achieving high production efficiency, low costs, and mass distribution (myopiaKodak, railroad industry) The product concept proposes that consumers favor products offering the most quality, performance, or innovative features. Company Orientations (Continued) The selling concept holds that consumers, if left alone, won't purchase enough products. Practiced most aggressively with unsought goodsgoods buyers don't normally think of buying such as insurance and cemetery plots. The aim is to sell what they make, keep inventory low and keep profits high. The marketing concept is a customer-centered, sense-and respond philosophy. The job isn't to find the right customers for your products, but the right products for your customers. Internal Marketing Internal marketing is the task of hiring, training, and motivating able employees who want to serve customers well. Inside-out approach A marketing manager of an airlines may want to increase customer satisfaction by providing better food, cleaner cabins, better trained cabin crew, and lower fares. However, when the catering department chooses low cost foods, maintenance dept chooses inexpensive cleaning services, finance determines prices, and HR hires people without customer service experience; satisfaction becomes difficult to attain. Social Responsibility Social responsibility requires understanding the financial and nonfinancial returns to business and society from marketing activities (social responsibility) It goes beyond just sales revenue by analyzing the legal, ethical, social, and environmental effects of marketing activities and programs. Types of Corporate Social Initiatives Corporate social marketing- supporting behavior change (MADD, Truth campaign) Corporate community involvement- being visible in the community and associating brand with positive actions Socially responsible business practices - recycled packaging (Pepsi) Types of Corporate Social Initiatives (Continued) Corporate social marketing- supporting behavior change (MADD, Truth campaign) Sustainablity/Corporate philanthropy - donating a percentage of revenues to a specific cause Tyson Chicken ran a promotional campaign where they donated 5 lbs. of chicken per comment on their blog which asked respondents for suggestions on how to end child hunger. Haagen Dasz donates percentage of profits to honeybee research and protection (1/3 of food supply). Mark Zuckerberg donated 99% of his Facebook shares to promote equality for children ($45 billion) Traditional Marketing Mix Marketing Management Case ABC company operates in several industries: chemicals, cameras, and film which it organizes into strategic business units (SBU). Corporate management is considering what to do with the camera division which produces a range of 35 mm and digital cameras. Although they have a sizable market, profits are declining for 35 mm market due to rapid growth in digital cameras. The next slides are the steps which should be taken and potential actions to respond to the above case Marketing Management Tasks The solution should follow these steps: 1) Develop a marketing strategy and plan: identify long run opportunities. ABC can design its cameras with better features, create a new line of video cameras, or use its core competency in optics to design binoculars or telescopes. 2) Monitor marketing environment- assess market potential and forecast demand. Should analyze customers, suppliers, and competitors. Make decisions based on available budget and accurately show how the money spent will affect sales/profits Marketing Management Tasks (Continued) 3) Connect with customers - Who buys cameras, and why? What features and prices are they looking for? Where do they shop? 4) Focus on strength of brand- Has the 35 mm film become obsolete? Should ABC position itself as a superior brand (premium prices, excellent service, extensive advertising)? Or should it build a simple, low priced camera aimed at more price conscious consumers? Something in between? Marketing Management Tasks (Continued, 2) 5) Shape the market offering- What are the tangible offerings ABC will provide (leasing, delivery, repair, training)? 6) Delivering and communicating value- Are consumers sold on the value of the product? Hedonic vs. utilitarian value of cameras? 7) Take action for long term growth- initiate new product development, testing, and launch as part of a \"big picture\" assessment