marketing research|Business
Hang in there so close to the end of the semester. Select six(6) of the seven (7) questions.
Upload to the NYU class portal assignment tab- final exam.
Question: How long do the responses have to be?
Answer: It is a take- home exam you have the entire world via your keyboard for information. It should reflect that effort and the fact that you have had a week to do it. One paragraph responses to the questions is not enough. Please note that I ask for examples to demonstrate your understanding and at least your ability to perform a Google search.
Start before the due date and you’ll be rushed and it will reflect in your responses. I will check them against the Turnitin database.
Yes, you do need to document your source material. Please us single space and 11 pt font.
1) a. What are three reasons a firm might determine it should expand a product line? Provide an example of two companies doing this. (you can NOT use APPLE as one of your companies)
b. Why are some reasons for contracting a product line? Provide an example of two companies doing this. (you can NOT use APPLE as one of your companies)
2) The Hispanic market is unlike any in the United States today. How do firms target this ever growing demographic? (Hint: it’s not just changing the language on the labels). Provide two examples of companies in support of your response.
3) Discuss customer relationship management (CRM) and identify three strategies for creating value for customers and capturing value from customers in return. Provide two examples of companies that reflect your responses. (you can NOT use APPLE as one of your companies)
4) It’s Time for a Second BreakfastWALL STREET JOURNAL ARTICLE
by: Ellen Byron
Apr 26, 2017
QUESTIONS: (This question requires you to respond to all four of the following questions)
4A.What is a ‘second breakfast’ and why is it becoming more prevalent in the U.S.?
4B.The article provides several examples of how restaurants and food companies are capitalizing on the second breakfast trend. Which of those companies do you think is doing it best? Why?
4C. What marketing research methods would you suggest to help companies better understand the second breakfast phenomenon?
4D Besides the obvious opportunities for food companies and restaurants, what other companies or product categories might capitalize on the second breakfast trend? Explain.
5)Why should customer needs be the driving force in segmenting the toothpaste market?
6) Famous playwright Arthur Miller stated, “OUR CULTURE IS NOW ADVERTISING. All these people trying to figure out how to persuade Americans what to buy, whom to trust, and what to think”
a) What impact is this having on our society? Is it a good thing, a bad thing or just our American culture thing?
7) Burger Chain to Serve up ChangesWALL STREET JOURNAL ARTICLE
By: Rhea Rao
July 05, 2017
Shake Shack was once a darling of the fast-casual dining sector. Now, it’s experienced a 2.5% fall in same-store sales in the first quarter and it revised its 2017 comparable sales outlook downward. Shake Shack, like many of its competitors, is battling weak foot traffic and rising labor costs. Still, there are global expansion plans. There are 84 stores in the U.S. and stores in 12 countries overall, including Japan, United Arab Emirates and Russia. Shake Shack is also in the midst of a technology push. Tara Comonte, Shack Shack’s CFO, said her focus at Shake Shack is to leverage the use of technology to connect with customers as the company continues to grow. Shake Shack launched its mobile app earlier this year allowing customers to skip the physical lineof fast-casual chains adopting technologies to enhance the customer experience.
QUESTIONS: (This question requires you to respond to all three of the following questions)
7A. Who is Shake Shack’s target market? How does Shake Shack differentiate itself from other fast-casual restaurants?
7B. Comment on the value of Shake Shack’s policy that every new employee spends part of their training period working in a Shake Shack restaurant.
7C. Why do you think many fast-casual restaurants are experiencing declining sales?
