personal purchase analysis

personal purchase analysis
PERSONAL PURCHASE ANALYSIS Marketing 1000; Assignment #1 – (10%) Goal: To explore and apply Marketing Mix and Competitive Advantage theory fundamentals learned in Chapters 1 through 3 of the MKTG text. Assignment: Analyse a personal use product to reflect on what the company marketing strategy might be. Submission: Submit via Blackboard. Late submissions will receive grade deductions in accordance with Georgian/ILAC submission guidelines. This assignment does not require a great deal of research or referencing, but if you do use information that you gather from a resource including websites, product packages etc, please be sure to cite the information using APA guidelines. If you are unsure how to cite the resource, please refer to the Georgina website for additional direction, or contact me for assistance. It is always wise to err on the side of over citation (reference everything you have borrowed) versus less. Your assignments may be processed via TurnItIn plagiarism detection software. Any report where plagiarism is identified will be processed according to college regulations. ASSIGNMENT DETAILS: Select a product that you have recently purchased for personal use. The items should have been purchased in the last 3 months. It can be any product from a beverage or food item, a household or apparel item or a large purchase such as a vehicle. The only item that cannot be selected is a laptop or mobile phone/device. Answers will be graded based on your understanding of the marketing theory, your ability to creatively apply the theory and your written report. There are no right or wrong answers with respect to specific perspectives on analysis. Please be sure to focus your answers on the questions asked. Be clear specific and concise. This report does not ask you to explain theories. Answer the following Questions: PART 1 (approximately one page double spaced) (15 marks) Product Name (1 mark) 1.2) Describe the item in your own words: What is it, what does it do? (4 marks) 1.3) Why did you purchase this item? What was your use/need? (4 marks) 1.4) Where did you purchase the item? Why? (2 marks) 1.5) Provide 2 Pictures of item (2 marks) (You may copy and paste pictures to the Assignment, provide link to web-based images and/or attach or email images to the assignment): a) Picture of actual product b) Picture of product packaging 1.6) Provide the Purchase Date, and Price (2 marks) PART 2 (approximately 250 words, one page double spaced (10 marks) 2.1) List 2 Competitive Items that you might have purchased instead of this item. Describe the items and note the 4ps for each. (Competitive items are items that are similar in use and product features but differ in Marketing Mix details – 4p’s). For example, if you purchased a 2-door compact vehicle, a competitive item would be a vehicle similar in size or if you purchased a chocolate bar, a competitive item would be another chocolate bar. 2.2) Why did you select the item you purchased instead of the other 2 options? 2.3) What part of the Marketing Mix offered the advantage that you caused you to purchase the item instead of the Competitive Item? Price, Product, Promotion or Place? PART 3 (approximately 250 words, one page double spaced) (10 marks) 3.1) List 2 Alternative/Substitute Items that you might have purchased instead of this item and note the 4ps for each. (Alternative items are items that differ in product details but solve the same use case/need). For example, if you purchased a 2-door compact vehicle, an alternative/substitute item might be a Motorized Scooter or Bike if your use case/need is for transportation of 1 person. If your purchase was a chocolate bar, an alternative item might be a candy snack if your use case/need is for a sweet treat. 3.2) Why did you select the item you purchased instead of the other 2 options? 3.3) What part of the Marketing Mix offered the advantage that you caused you to purchase the item instead of the Alternative item? Price, Product, Promotion or Place? PART 4 (5 marks) 4.1) Now that you have reflected on both the Marketing Mix of the item and its competitive advantage, describe who you think might be the Target Customer for your product. Provide 4 reasons why you think this might be the target audience based each of the 4ps: Product, Price, Promotion, Place.