An important objective of this class is to see how managers can apply our in-class concepts to better market their products. This could entail discovering opportunities for new products or services or preparing for restructuring of an industry or developing better marketing strategies.
Below are listed 6 issues/problems that entail recent changes in consumer behavior that present opportunities for new businesses (and threats to current ones). Each group is required to select 1 such issue/problem, identify what factors are causing this problem, analyze the problem thoroughly in all its aspects by conducting surveys (n=20-30) among relevant multiple segments (e.g., university disruption – students, parents, administrators, and faculty) and present strategies that companies can adopt either to better prepare themselves for those changes and/or improve their marketing strategies and/or to introduce new products/services.
The problem is :
6. There are several changes taking place in the spatial/geographical aspects of where people decide to live in a city/town. For example, increasing number of people want to move from suburbs to downtown (in contrast to a dominant trend of last several years of more consumers wanting to live in suburbs). Please list 2-3 such big changes, why are they taking place, what issues and challenges they present for marketers and retail stores, and what can they do to respond to those changes.
A) Problem Definition Section explains the issue/problem in all its aspects and identifies its causes and the challenge(s) it poses for current players in that industry. If you choose, you can select one player or brand in the industry (vs. the whole industry). (Aspects and causes-25pts; Challenges-15pts) 40 points
B) Survey Findings Section presents findings from surveys of multiple relevant segments 20 points
C) Marketing Strategy Section connects the first two sections (and not based on your subjective opinion) to explain 4-5 specific strategies for current player(s) to either better market their product or better prepare for impending changes or provide specifics about introducing the new product/idea. 40 points
