Marketing Project \#2 (2 parts) all questions are worth 5 points except Sky Blue Inc. is a fast-moving, innovative company located in the North where noted (some are worth 10 points). East, USA. They are in the Renewable Energy Solutions Industry. They Part 1: WW - please answer questions 1 thru 5 based on WW serve both Commercial customers (Business/ Industry clients looking to switch their current energy sources to sustainable, green friendly Please watch the video on WW (link below). Answer all questions and methods), and Residential customers (homeowners looking to minimize submit as a PDF to Brightspace. fossil fuels and move to solar and sustainable solutions in their home). The video: copy/paste in browser: The company formed 7 years ago, and after a successful and strong sales https://www.youtube.com/watch?v=fXnwhUCSTfA planning push they connected with several eager Commercial customers and they began implementing and selling their renewable energy solutions for these Commercial clients. After two years of business, they Questions Part 1 (WW) also started serving Residential customers. Both Commercial and Residential customer segments showed great interest due to Sky Blue's 1. Explain why did Weight Watchers decided to change its name to WW? expertise and customer service. Satisfied customers spread the good word. Sky Blue was looked upon favorably in their region (East coast). 2. As stated in the video, identify some of WW's competitors. What are these competitors doing that has led to some of WW's market/profit They sell both Wind and Solar "Renewable Energy Solutions" to their erosion? customer bases on the East Coast. Wind Solutions are popular for their Commercial customers, and Solar Solutions are popular for both 3. To support its repositioning efforts, what changes is WW making in Commercial and Residential customers. the way it markets itself and its products and services? (per video) For their first four years of business operations, they had been focused 4. In the video, WW talks about weight loss, but also speaks of wellness on the East Coast. Due to their quality work, innovative product, and and other important consumer trends. What additional consumer / strong engineering talents, many customers from the West Coast began lifestyle trends should WW consider as inspiration for their brand? ie) reaching them and offering them work. Sky Blue took the Think of a few important trends that WW may want to take note of for business. They have now decided to begin focusing on both the West future brand associations. Coast, as well as the East Coast for clients and growth. Their CEO noted there is a high demand on the West coast for these types of 5. How successful do you believe WW will ultimately be in its strategic products. They are excited to expand and grow! They want to be repositioning efforts that were shared with you during the video? Explain. profitable. They want to connect with lots of potential clients. 10 points The CEO calls you for your marketing assistance. She exclaims: "West Coast, here we come!" Part 2 of Project \#2: Blue Sky Industries (questions 6 thru 15) Questions 6 thru 15: For questions 6 thru 15, please review Sky Blue Industries information. 6. Imagine you are a potential Sky Blue Residential Consumer. What 11. Review table 2.0 again. Assuming a residential customer is choosing type of decision making category (of the 3 we discussed) best describes between the 3 alternatives (Sky Blue, Clean Air Inc, and Renew 4U Inc.), the decision making category for Sky Blue's energy solutions and using the non- Compensatory "elimination by aspects" rule approach, products. Why? Hint: one of the categories was "emotional based". and the most important attribute they demand is customer service / warranties, what company would they select? Explain. 7. Given the desire Sky Blue has to increase business in the West Coast, they decide to conduct market research. What secondary data do 12. Sky Blue conducts a survey and learns that Commercial / Business you recommend they gather in their market research? Consider the buyers of alternative (green) energy solutions are looking for products questions they have and the data that could help them make great that have excellent ratings on certain attributes, including: price/cost of decisions on how to proceed. List 2 secondary data sources, and explain installation, brand reputation, and long term Return on Investment (ROI why you feel these would be beneficial. savings). 8. Given Sky Blue has decided to conduct market research for their Sky Blue also conducts some secondary data research and learns that expansion to the west coast, what primary data do you recommend they their company's specific warranties and customer service program are far gather in their market research? Consider the questions they have and superior than their competitors, plus their ease of product installation is the data that could help them make great decisions on how to proceed in also far superior to competitor products. But sadly, these attributes are the West Coast. List 2 primary data sources of information, how they not first of mind (on the attribute list) that Commercial consumers are might go about conducting the research, and explain why you feel these considering when selecting a company to purchase their green energy 2 would be most beneficial. solutions from. a) How might Sky Blue go about educating Commercial customers on the importance of these 3 attributes? b) Should they bother 9. Considering Maslow's Hierarchy of Needs. Which specific levels on doing so? Why or why not? 10 points the pyramid are triggered with the purchase of alternative green energy (based on the residential consumer perspective)? And explain why you 13. Assume you are the marketing representatives at Sky Blue and selected these specific levels? focused on supporting their Residential Consumer Division. You desire loyal consumers, yet you learn that cognitive dissonance is a huge factor 10. Review table 2.0 below. Assuming a residential customer is for several residential customers. You learn that post -purchase; some choosing between the 3 alternatives (Sky Blue, Clean Air Inc, and Renew residential customers are experiencing buyer's remorse after the product 4U Inc.) , and using the Compensatory "simple additive" Decision Rule is installed. approach, what company would they select? For example, despite feeling good that they are helping the environment, the customers worry about the cost of it all, the appearance, does their reference group approve of their purchase, and they fret over whether it is was a good decision or not. What 2 marketing techniques can your marketing team use to help move the customers out of "the state of