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Unit 2: Analysis for Marketing Decisions

  1. What questions do you have about the overarching Unit 5 assignment? Although not due until the end of the class, it is important that you begin planning for this project early in the course. What are your initial thoughts about how you will approach this assignment? Explain. (Week 5 product is not the same as the product in week 1&2. Can improve on a product as long as it makes it a new product such as when headphone went from wired to wireless. Can be a service such as a beauty salon as long as it something different from others.)
  2. Using the product, you chose in Unit 1 discussion board, List two features of the product and assess how they transform into benefits for you; determine consumer behavior towards your product as compared to their current behavior towards your competitor’s product. Discuss how the product fits your lifestyle or psychographic.
  3. Based on Maslow’s Hierarchy of Needs, what level of need will your ‘improved’ product meet? Explain.
  4. Draft a mission statement for your product for week 5 and set three (3) specific applicable marketing goals which you would like to meet in your marketing strategy.
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