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NC BUSM1150 simulation project 3

Your first simulation project was definitely in some need. Overall, the project was written nicely,although it was in need of a noticeable bit of proofing. Mainly, the issue was that you didn’t deal with the true nature of the simulation project. You wrote about a fictitious entity and did not study the locational characteristics of an actual business. This project had a quantitative element to it – things like traffic and foot counts and needed to be based on research on not conjecture.

A list of possible projects is provided below, but students can create their own projects subject to the instructor’s approval. Each report should be submitted in written form (3-5 pages each)

1. Study the yellow pages for a certain business category such as “real estate” or “plumbers.” Compare and contrast the way businesses in that sector advertise and compete with each other through their advertising. Pay attention to headlines, body copy, placement, etc. [Promotion]

2. Select a consumer product. Go to a store that carries that product and make a list of direct competitors. Describe the product in comparison to its competitors in terms of size, packaging, price, advertising, etc. [Competition]

3 Pick two stores in your area that are in direct competition with each other. Determine how the stores attempt to differentiate themselves from each other in terms of the marketing mix. [Competition]

4. Examine a product-oriented advertisement in a magazine. Analyze how the advertiser has attempted to sell theproduct through headlines, advertising copy, graphic arts, and so forth. [Promotion]

5. Pick a product or service currently being marketed that “bothers” you in some way (ex: cigarette or alcohol commercials aimed at children, political “slur” campaigns, etc.). Discuss what you think are the ethical implications of theproduct or service’s introduction into the market place. Discuss what you would do (or change) if you were the marketingmanager in charge of that offering. Discuss whether you think the product should be marketed or not, and how the needs of the company must balance with societal concerns. [Ethics]

6. Find a local business that is currently not on the Internet. Described how going online could improve themarketing efforts of that business. Be specific![E-marketing]

7. Use the Thomas Register of manufacturers (in your local library or”> to locate a productthat interests you. Write a print advertisement for that product that could be used to direct marketit in a national magazine. [Direct marketing]

8. Watch an infomercial (a commercial that runs 30 minutes to sell a product). Aside from length, what are the differences between the infomercial and a regular 30-second commercial? What are the advantages and disadvantages? [Product and promotion]

9. Think up a target group to which you would like to market a product or service. Do one of the following to locate a mailing list:

1) Locate a copy of the Standard Rate and Data Service (SRDS) in your local library

2) Use mailing list vendors described in various marketing journals.

3) Contact a mailing list broker to locate a suitable mailing list

Contact the list broker and ask them to supply the information concerning renting the list. You can have the material faxed, mailed, or emailed. Describe the list, its costs, and how it properly targets your identified market. [Targeting and direct marketing]

10. Think up a target group to which you would like to market a product or service. Locate a publication that would properly target that market. Order a media kit from the advertising offices of the publication. Describe how the publication properly targets your identified market. What are the costs, sizes, discounts, etc. [Targeting and directmarketing]

11. Conduct a survey of student preferences (ex. Coke versus Pepsi, Verizon versus Nextel or Singluar, or MTV versus VH-1). Include in your preferences at least 25 students in the same demographic category. Report your findings. Use averages, graphs, and tables to report your findings. [Market research]

12. Pick a brand-name product such as a breakfast cereal or grooming product. Find a generic equivalent to thatproduct (note: the product must have a generic equivalent for this project, so becareful). Describe how price, packaging, and promotion effect the sale of the brand-name product over its generic counterpart. [Productdifferentiation]

13. Pick a small local store or restaurant. Describe the nature of its location. What is the nature of foot traffic, automobile traffic, and location to neighborhoods? How does the location help or hinder that store? How does proximity to other similar or dissimilar businesses help or hinder? [Location]

14. Pick a product that is sold in a retail chain (ex. Levis jeans or Nike shoes). Trace it back through the channel of distribution to the manufacturer. In your report you can include a diagram of each organization from manufacturer to retailer that is involved in the marketing channel. [Channel]

15. Run an auction for an item you would like to sell on ebay, Yahoo auctions, or auctions. Describe your strategy in terms of product, pricing, and promotion. How successful or unsuccessful were you? Discuss what you learned. In your report include a printout of your auction registration.

16. Choose a cable TV specialty channel such as ESPN or Disney. Describe the demographics and psychographics that the channel seems to be aiming towards. [Demographics and psychographics]

17. Read several marketing-related help wanted advertisements. Use marketing journals for this exercise as opposed to newspapers. Describe the duties and requirements for the jobs. [Marketing occupations]

18. Attend a marketing-related function such as an office products show or marketing seminar. (Note:your instructor may be able to help you locate a local event). Write a general account of the event. [General marketing]

19. Research a failed product or service (Examples include, Crystal Pepsi, the McDLT sandwich, the Yugo automobile). Describe why they failed from a marketing perspective. How did the marketers fail to supply a goodproduct or service? [General marketing]

20. Research the music industry. How much does the artist (the company & product) get paid for every CD, poster, or other product sold. Describe your interpretation of the importance of promotion to help the artist sell more products. [Pricing and promotion]

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