Marketing Audit and YouTube Video Production
GENERAL—TEAM PROJECTS (Worth 400 points or 40% of your grade)
- Groups will comprise 3-5 students each.
- Teams will stay together for the remainder of the class and be responsible for completing all team/group related material.
- If you get “fired” from your team due to lack of participation, you will be responsible for completing all aspects of team work, on your own as a team of 1. Don’t get fired.
TEAM PROJECTS—MARKETING AUDIT AND YOUTUBE PROJECT COMPONENTS/SECTIONS
- MARKET RESEARCH/SECONDARY DATA AND SOURCES
- Review topics incorporated in Audit Questions (see below) and Exam Study Guide.
- Meet with your team and choose product for Team Project
- You will address all questions in the Audit from the perspective of the product you choose.
- Create a Googledoc, copy the Audit question list into the Googledoc that you create and invite me and the other members of your group to edit your Googledoc. My email address is firstname.lastname@example.org.
- There are a total of 20 questions. Decide as a group how you are going to assign the questions. Write the responsible team member name (first and last) next to each question.
- Create a Googlesheet, copy the Exam Study Guide into the Googlesheet that you create and invite me and the other members of your group to edit your Googledoc.
- For each generic term (highlighted in green) in the Audit, write a definition in the Exam study template (Excel file), and provide at least two (2) YouTube examples for each, see example.
- For the Audit, under each question (Googledoc), find 2-3 online sources (reports, videos, other) that speak to each question for the product your group has chosen. Read/review each source to confirm that it applies. Copy/paste each applicable URL under the respective question.
- Then, summarize in 2-5 sentences your response to each question.
7.Marketing Audit Research and Exam 1 Study Guide are due at 2:00pm on Wednesday, September 27, 2017.
Marketing Audit Questions: Initiating the Marketing Process (Chapters 1, 2, 3 and 4)
- Company mission statement
- What is the company mission statement?
“Inspired by the nearby Sierra Nevada Mountains, our beers are designed to be as bold, wild and unwavering as those storied granite peaks. With respect to tradition and an unbridled passion for innovation, Sierra Nevada beers are inspired by the philosophy that anything is possible. We are committed to pushing the boundaries of craft beer and we look forward to the day that flavorful beers are the standard throughout the world.”
- Is the product you chose to analyze in line with the company’s mission statement?
- The present status of the company/product Fahad
- How is the company/product positioned in terms of its competencies, customers and competitors?
- Product(s) position within the company.
- Is the product a star, question mark, cash cow or dog in terms of the BCG matrix?
This product is a cash cow.
- Company/product growth
- How will the company/product grow in the future? Use the Market Product Strategy Matrix (Figure 2-5) to determine future growth. Products grow in multiple ways.
- Environmental scan (5 environmental forces)
- How will the following environmental forces affect your company/product? Describe them in terms of opportunities and threats to the company/product.
1) Demographic shifts and cultural changes.
2) Demographic conditions and consumer income
3) Changing technology and technology’s impact on customer value
4) Type of competition faced in company’s/product’s industry and how this might change in the future
5) Regulation impact on the industry/company/product
- Situation analysis for strategic marketing Fahad
- What are the company/product strengths, weaknesses, opportunities and threats? Provide a SWOT matrix for your company for your product specifically. The SWOT for Nike Free would be different from the SWOT for Nike golf. How has the company used strengths to take advantage of market opportunities?
- Ethical and social responsibility
- Does the company have a published/visible code of ethics? From that code, what appear to be the important values of the company?
- What ethical issues face the company/product?
- What would a social audit tell us about the company/product?