This is a marketing analysis assignment in Q&A format comparing two companies in the same industry with completely different target audiences. I chose Prada and Forever 21 as the subject
Discuss, in as much detail as necessary, the following topics:
- Describe all of the segmentation variables that your two choices used to target their customers. How are they different from each other?(Geographic, Demographic, Psychographic, and Benefits Sought). A chart that supplements your discussion is necessary.
- Discuss the Marketing Mix for the two products. ( Four P’s ) . Compare both in detail …Make a chart of the four P’s
- Visit the web sites for both competitors. Give a synopsis of your findings and thoughts. Are they user friendly sites ? Do they provide needed information ? Are they interactive ? Do they offer coupons, locations, or directions, if applicable ? Tell me as though I am blind. This should be pretty detailed.
- How have each of the the competitors positioned themselves in the market- place ? In your opinion, have they done a good job ? If not, why not ? Do you feel that the target consumers see the company properly (as the company expects) ? Design a short survey…5 Questions / 15-20 people….. to find out and analyze the results. For example, do both competitors occupy the same place in the consumers mind or are they somehow differentiated from each other ? Is one the “quality leader” while the other is vying to be the “price” leader, etc. ?
- What issues do these competitors have to deal with ? Think in terms of INTERNAL and EXTERNAL factors…. Do a SWOT analysis for your primary choice.
- What can you find out about your choices and how they are addressing the “societal marketing concept” ? Do they pollute ? Do they recycle ? Do they use toxic chemicals ? ( hint: look at their web sites or in-house literature ). Do they support charitable causes ? Google it.
- How does Personal Selling ( Relationship Selling ) affect the final consumer who buys your product ? Connect the dots for me….what kind of ‘white collar’ sales efforts from ALL the different suppliers was required to ‘create’ the final product ? In other words, how did the efforts of all the B2B buyers and sales people associated with your primary choice impact the final consumer once they bought your product or service?
- Discuss at least three different activities that your choice has to deal with in their ‘Blue Collar’ supply chain management process. (i.e.: suppliers, assembly line workers, raw ingredients, resellers, forklift drivers, trucking companies, etc. ). Explain how they interact with or handle these issues.
- Give a descriptive analysis of your impressions of both competitive advertising efforts. …Include a description of your favorite campaign or ad. If they don’t have one, suggest one .
- We have talked about ‘Land’s End’ and how they were able to sell more product by data mining a list of customers, out of their own data storage, and then matching accessories to the ‘Blue Sports Jacket and Grey Slacks” that were purchased as much as 18 months before by their ‘best’ customers…..remember, they offered those customers matching shirts, ties, shoes, etc., and the company was rewarded because over 30 % of those past customers ordered ‘new’ merchandise from the special mailing that Land’s End sent them…..Think about either of your products….how would you try to get your ‘BEST’ customers to order MORE ? Your best customers are 1-recent….2-frequent….and 3- monetary/high dollar people.
Sample Solution
