MKT 571 UP Increase and Decrease in Revenue or Type of Business Essay
ANSWER
Part 1: Analysis of Week 1 Business Growth Overview
To: Senior Vice President (SVP) of Marketing From: [Your Name] Date: [Date]
Subject: Analysis of Business Growth Overview
I have analyzed the Week 1 Business Growth Overview dataset, and I’m pleased to provide you with insights and commentary on the major areas of increase and decrease in revenue, trends, and potential marketing strategies.
Name of Company: [Company Name] Location of Company Headquarters: [Company Headquarters Location] Name of Product or Service: [Product or Service Name] General Description of Company: [Provide a brief description of the company, including the number of employees, revenue, type of ownership, web page, etc.]
General Description of Product or Service: [Provide a brief description of the product or service, including its key features and benefits.]
Now, let’s delve into the analysis:
Major Areas of Increase and Decrease in Revenue or Type/Category of Business:
- Revenue Growth: In the past year, the company has seen significant growth in revenue, primarily attributed to [mention specific factors such as product launches, expanded market presence, etc.]. This growth indicates that the product or service is resonating well with the target audience.
- Decrease in a Particular Category: However, there has been a slight decline in revenue from [mention the specific category or area]. This decline might be due to [potential reasons such as market saturation or changes in consumer preferences]. It’s essential to closely monitor this trend.
Trends Evident in Terms of Revenue or Type/Category of Business:
- Market Expansion: The company has successfully expanded into [mention specific markets or regions], leading to a notable increase in revenue. This indicates that there is room for further expansion and growth in these markets.
- Shift in Consumer Behavior: We’ve observed a shift in consumer behavior towards [mention the trend, e.g., online shopping, sustainability]. This trend presents an opportunity for the company to tailor marketing strategies to align with changing consumer preferences.
Insights for Formulating Marketing Strategies:
- Targeted Expansion: Given the success in certain markets, the company should consider further expansion into similar regions or markets with similar characteristics. This could involve localized marketing campaigns and product adaptations.
- Consumer-Centric Approach: To capitalize on the shifting consumer behavior, the marketing strategy should focus on highlighting the product/service’s alignment with these trends. This could include emphasizing sustainability efforts or enhancing the online shopping experience.
- Category Recovery: For the category experiencing a decline, it’s essential to conduct a thorough market analysis and consumer research to identify the root causes. Marketing strategies should be devised to rejuvenate this category, such as product innovation or rebranding.
Additional Analysis and Marketing Goals/Strategies (if I were SVP):
If I were the SVP, I would also consider the following additional analyses to further refine our marketing goals and strategies:
- Competitive Landscape: Conduct a comprehensive analysis of our competitors in the selected markets to identify opportunities for differentiation and competitive advantage.
- Customer Segmentation: Segment our customer base to better tailor marketing efforts and product offerings to specific demographics or buyer personas.
- Marketing ROI: Evaluate the return on investment for our marketing campaigns to ensure we are allocating resources effectively.
- Technology Integration: Explore opportunities to leverage emerging technologies (e.g., AI, AR/VR) in our marketing efforts to enhance customer engagement.
By conducting these additional analyses, we can develop a well-rounded marketing plan that not only sustains current growth but also positions us for continued success in the ever-evolving market landscape.
Please let me know if you require any further information or if you would like to discuss these insights and strategies in more detail.
Sincerely, [Your Name]
Part 2: Company and Product Selection Summary
To: Instructor From: [Your Name] Date: [Date]
Subject: Company and Product Selection Summary
I have selected the following global/multi-regional company and its product/service as the basis for my marketing plan:
Company Name: [Company Name] Product/Service Name: [Product/Service Name] Company Description: [Provide a brief description of the company, including the total number of employees, production volume, distribution methods, and any relevant information from annual reports.]
Product/Service Description: [Provide a brief description of the product or service, including its key features and benefits.]
I have also obtained two years of annual reports and two years of 10K reports for my data source, which will be used to analyze the company’s financial and business conditions for my marketing plan.
Please confirm my selection, and I will proceed with my marketing plan based on this company and product/service. If you have any further instructions or recommendations, please let me know.
Thank you for your guidance.
Sincerely, [Your Name]
QUESTION
Description
Researching Marketing Questions
ASSIGNMENT CONTENT
- Major areas of increase and decrease in revenue or type and/or category of business
- Trends that are evident in terms of revenue or type and/or category of business
- Insights that would help formulate marketing strategies to either continue growth or reverse decline
- Additional analysis you (if you were SVP) would like to build a marketing goal and strategy or strategies (and why)
- Name of Company
- Location of Company Headquarters
- Name of Product or Service selected
- General description of company (number of employees, revenue, type of ownership, web page, etc.)
- General description of product or service
ASSIGNMENT STEPS
Part 1:
Analyze the Week 1 Business Growth Overview dataset. This is a marketing report generated by an analyst for the Senior Vice President (SVP) of Marketing at a large corporation. The analyst is new and has provided summary data but no insights or commentary for the SVP.
Construct a memorandum for the SVP providing insights and commentary. The memorandum should include your analysis of the following:
Part 2:
Select a global or multi-regional (does business in more than one country) company and one of its products or services that will serve as the basis for your marketing plan. You should obtain two years of annual reports as well as two years of 10K reports (provides a comprehensive overview of the company’s business and financial condition and includes audited financial statements) for your data source. Once you have selected your product or service, you must define the size and type of your selected company that provides the product or service (available from annual reports). This need not be elaborate but must include total number of employees, production volume, distribution methods, and so forth. Record this information in a summary document as outlined below.
Company and product selection is a critical part of this project. You must ensure your proposed company can implement the marketing methods discussed in Marketing Management.
Prepare a summary document and send it to your instructor as a record of your selection.
Fill in the order form and submit all your files, including instructions, rubrics, and other information given to you by your instructor.
Once you complete filling the forms, complete your payment. We will get the order and assign it to a writer.
When your order is completed, it’s assigned to an editor for approval. The editor approves the order.
Once approved, we will upload the order to your account for you to download. You can rate your writer or give your customer review.
