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.
General Background Eco-preneurship alludes to the ecological enterprise who are balanced towards thinking of maintainable business thoughts (Libecap, 2009, p.34). EcoPreneurs to be sure recognize ecological difficulties and in this way create natural items and administrations which will help in tackling both the business and ecological difficulties by giving a manageable arrangement. The primary upper hand for Eco-preneurship organizations is the way that they can use practical choices in vitality, squander administration and other spectra of the environment. Recognizable proof of the issue It is undoubtedly rising that a large portion of the business adventures today are just inspired by benefits and development without due worry on positive natural effects. It is this issue offers ascend to an arrangement of manageable business arrangements given by the EcoPreneurs. This paper will try to enroll the advantages of an eco-preneurship business adventure. Mission statement Eco-preneurship makes organizations all the more ecologically in charge of their activities. In the ongoing past, there has been an objection over the carbon emanation threat. A few gatherings have yielded the Kyoto Protocol which goes for making ventures greater condition delicate in their creation and general activity. There are different rules that hold eco-preneurship business adventures towards their manageable business arrangements. These standards are gone for decreasing vitality squander and also carbon emanation. Organizations must perceive the way that they owe an obligation to the earth in which they work in and should in this manner create supportable arrangements towards handling issues identified with waste administration, vitality needs, carbon outflow, perilous compound utilization and in addition air contamination. What is basic to consider is the way that the greater part of the eco-preneurship business adventures determine numerous advantages because of their eco-accommodating business tasks. This paper concisely investigates the advantages that eco-preneurship has both to itself and the bigger condition in which it works. Fundamental Body As prior made reference to, eco-preneurship alludes to natural business. Eco-preneurship for the most part has an upper hand that they draw from being earth delicate. In fact, there are numerous advantages that the eco-preneurship business adventures appreciate. Isaak (1999, p.11) uncovers that eco-preneurship appreciates a decent notoriety because of their drives towards keeping up a reasonable domain. This preferred standpoint gives eco-preneurships an upper hand against contenders subsequently these organizations can store up an extensive number of clients, both existing and new clients. With the huge number of clients among the eco-preneurship adventures, there will be expanded deals volumes which convert into productive business adventures. Eco-preneurship guarantees that carbon outflows are decreased to unimportant dimensions. Carbon outflow is the principle worry of each significant organization on the planet today. Following the Kyoto Protocol, organizations are required to be more cautious in decreasing their carbon discharge. Since eco-preneurship is balanced towards giving manageable ecological arrangements, lessening carbon discharge has been at their foreknowledge. Eco-preneurships in this manner lessen carbon discharge through diminished transportation. These organizations can present ecologically stable arrangements towards diminishing transportation by using the locally accessible material for their creation lines subsequently lessening the need to buy such things from an inaccessible area. As indicated by Schaltegger and Wagner (2006, p.47), nature is loaded with eco-openings which would give an in the nick of time answer for the issues that the earth experiences on an everyday premise. For example, thinking about McDonalds, a huge ground sirloin sandwich eatery found in many parts of the world; such an organization could use privately provided chicken and other nourishment stuffs that it requires in its generation procedure. Also, this will prompt the development of little and medium undertakings in the nations of task. Accordingly, the eco-preneurship will have the capacity to help economical earth sound arrangements and adequately decreasing the carbon emanation hazard. On the other hand, utilizing sun oriented or wind vitality additionally decreases the carbon emanation. Most eco-preneurships make utilization of these vitality hotspots to help their condition. Then again, eco-preneurship can lessen the measure of dangerous synthetic use. Numerous eco-preneurships for the most part make utilization of synthetic substances that are not hurtful to the earth. Synthetic use inside organizations generally discovers its way into nature, either through drainage or purposefully (Folmer and Tietenberg, 2005, p.114). These synthetic compounds cause colossal natural harm to harvests and living beings. Eco-preneurships consequently diminish the measure of unsafe synthetic utilization. Synthetic compounds that are utilized inside the eco-preneurship business adventures ought to be tried and appropriately dealt with in order to diminish the odds of discharging them into nature. Vitality and asset effectiveness is another advantage that the eco-preneurships have. Eco-preneurships as a rule look for economical vitality use with the end goal to guarantee that there is restricted vitality misfortune amid the creation of merchandise and enterprises. The saved vitality is therefore directed towards meeting other vitality necessities inside the endeavor. A decent case of productive vitality use by the eco-preneurships, is the utilization of sunlight based and wind powers. These are practical and sustainable power source assets which are probably going to prompt diminished carbon discharge. These wellsprings of vitality are generally viewed as perfect. The upside of this is, the eco-preneurship will acquire less expenses in their vitality use since they will have relied upon feasible and sustainable power sources. Sparing is a noteworthy favorable position and advantage that eco-preneurships get from their reasonable natural arrangements and ought to in this manner maintain these qualities (Isaak, 1998, p.16). Moreover, eco-preneurship guarantees that there is a powerful waste administration framework set up with the goal that any squanders that radiate from the business adventure is to be sure overseen legitimately, subsequently lessening the measure of ecological contamination. Modern waste is a migraine to the majority of the organizations. Eco-preneurship along these lines gives an economical arrangement towards this situation. All things considered, eco-preneurships are to a great extent aggressive because of the way that they present economical waste administration frameworks which viably manage the natural difficulties relating to squander administration (Schaper, 2005, p.63). A case of a waste administration framework that the eco-preneurship sets up is found in the sugarcane processing plants. The bargase which is the waste gotten from squashing the sugarcane is utilized to deliver vitality. The bargase is scorched in chambers that deliver vitality that is later diverted towards turning turbines. The turbines create power economically for use inside the organization. A portion of the sugarcane squander is likewise disintegrated and utilized as compost by the ranchers. Henceforth, there is constrained waste in eco-preneurship. Both strong and fluid squanders are successfully overseen in the eco-preneurships. There is a very much overseen framework that guarantees that strong squanders are dealt with first before being discharged into the earth. Subsequently, eco-preneurships are ecologically delicate in this manner accumulating support for such organizations among world pioneers. Eco-preneurship makes effective utilization of water assets. Water is progressively winding up rare in the dynamic climate atmosphere that we keep on encountering. Along these lines, this calls for effective utilization of water. Eco-preneurships are useful since they set up frameworks that guarantee that there is productive utilization of water assets. For instance, in the sugarcane plant, water that is utilized to clean the production line is directed towards flooding the harvests thus guaranteeing restricted water wastage. What's more, eco-preneurships guarantee that there is less air contamination. This is a direct result of the maintainable and sustainable power source that the organizations utilize. For example, sun oriented and wind control are spotless vitality sources in this manner less air contamination to nature. This is useful to the eco-preneurships since they are probably going to increase worldwide acknowledgment that will support their picture universally henceforth the organization will observer an expansion in client volumes (Libecap, 2009, p.28). The huge pool of clients will respond to high deals volume and in this manner greater productivity for the eco-preneurships. Eco-preneurships are socially capable since they advance maintainable ecological arrangements and all things considered are worshipped as being socially delicate. The eco-preneurships through their ecological mindfulness creation are probably going to build openings that are accessible for the work of different faculty. These work force will be conveyed in nature division in order to help the center estimations of the eco-preneurships. Folmer and Tietenberg (2005, p.34) contend that the elective utilization of vitality arrangements is probably going to spare the organization monetary assets that will be utilized in utilizing more staff to guarantee an economical business condition. Commonly, the Eco-preneurships will be worried about discovering better methods for dealing with nature and along these lines the requirement for more development which must be acknowledged through infusing new HR into their frameworks. End Eco-preneurships are in this manner bowed towards guaranteeing a spotless situation to help the network inside. The natural business visionaries additionally help to diminish carbon discharge using sustainable power sources that exude from sun based and wind control. These vitality sources consequently help to diminish the expenses of generation too, thus prompting greater productivity for the eco-preneurships. >GET ANSWER