MRK106 Group Assignment #2

.docx

School

Seneca College *

*We aren’t endorsed by this school

Course

MRK101

Subject

Marketing

Date

Jan 9, 2024

Type

docx

Pages

2

Uploaded by AmbassadorFogChimpanzee34

Group Assignment #2 – Neuro Sonic Overview In this exercise you will review the content we have covered in class by applying your new knowledge to the Neuro Sonic drink line as found in the materials supplied. Case Materials To prepare, please review the following material. You will base your answers to the following questions on this content: The Neuro Web site: https://drinkneuro.com/ This video: https://youtu.be/jI6tg_ZQeqE News Article about Kim Kardashian and Neuro Drinks https://www.thedailymeal.com/healthy-eating/kim-kardashian-obsessed-neuro-drinks- healthy/042518 Article about a recent lawsuit related to Neuro Drinks https://www.bevnet.com/news/2016/following-civil-complaint-neuro-update-labels-change- marketing-practices Questions – Total marks = 100 1. Create a properly labelled SWOT for the Neuro Sonic product line based on what you observed/learned in the above materials (Chapter 2). [10 Marks] 2. Identify and describe two different possible Target Markets for Neuro Sonic drinks. Be sure to include some specific demographic, geographic, psychographic and behavioural indicators for each (Chapter 6). [10 Marks] 3. Of the 4 types of consumer products, which would Neuro Sonic be? Explain the 4Ps that relate to this product type and the typical consumer buying behavior associated with it (Chapter 8) [10 Marks] 4. Draw a generic product life cycle graph and (1) indicate where you believe Neuro Sonic should be located, then (2) indicate where Red Bull should be located and then lastly (3) Diet Coke. Explain your reasoning for each briefly (Chapter 8). [10 Marks] 5. You learned terms related to different types of consumers for products along the PLC. What type of consumer would typically purchase a newly released beverage like Neuro Sonic. What would a consumer that has just recently decided it is time to try a Diet Coke be called (Chapter 8)? [10 Marks] 6. Describe elements of the product strategy for Neuro Sonic in terms of features, advantages, and benefits to one of the above target markets. Include bullet points related to packaging, labelling and any guarantees that may be offered (Chapter 9). [10 Marks] 7. There are three different approaches to setting an approximate price level for a product. List the three approaches and then pick one or two that you might have selected for Neuro Sonic. Briefly explain why. (Chapter 11) [10 Marks] 8. Would you expect the demand for Neuro Sonic to increase or decrease depending on the price? What do you think would happen if the price increased? What would happen if the price decreased? Based on your answer, would you use the term Elastic or Inelastic to describe the price/demand for Neuro Sonic? (Chapter 11) [10 Marks]
9. Of the three channel structures for distribution, which do you think is the best one for Neuro Sonic and why do you think so (Chapter 12)? [10 Marks] 10. Assignment presentation – Grammar/spelling/visually appealing/proper citations [10 marks] Deliverables Put together a word document answering the nine questions. Only one student should submit on behalf of the group. Clearly include your group members names on the assignment.
Your preview ends here
Eager to read complete document? Join bartleby learn and gain access to the full version
  • Access to all documents
  • Unlimited textbook solutions
  • 24/7 expert homework help