Assignment (035-15 marks) Read the following three minitexts and attempt the questions siven below for each of them. Answers will be assessed based on your understanding and able to explain it appropriately. Be specific and explain in a proper way to justify your answer Write the answer in your own words and in a proper structure. Make sure to mention references A. Marketing Environment Marketing Technology Crowdfunding (05 marks) If you have a great product idea but no money. never fear. there's Kickstarter. an online crowdfunding site. Founded in 2008. Kickstarter enables companies to raise money from multiple individuals and has helped launch more than 60.000 projects. Pebble Technology Corporation created a smart wristwatch called Pebble, which works with iPhones or Android phones, but didn't have the funding to produce and market the device. So young CEO Erie Migicovsky turned to Kickstarter for crowdfunding. His modest goal was to raise S100,000, but the company raised Si million in only one day and a total of S10.27 million in just over one month! Nearly 70.000 people preordered the SI15 watch and Pebble now has to deliver on the promise. Kickstarter takes a s percent ee on the total funds raised and Amazon Payments handles the processing of the runds, Kickstarter charges pledgers credit cards and the project creator receives the funds within only a few weeks. The JOBS Act legislation signed into law in 2012 provides a legal framework for this type of financing, which is expected to grow even faster as a result. However, Kickstarter and similar sites don't guarantee that the projects will be delivered as promised. and some people are concerned that crowdfunding will beget crowd/rading Find another crowdfunding site and describe two projects featured on that site. B. Consumer Markets & Consumer Buyer Behavior Marketing by the Numbers Evaluatin Alternatives (05 marks) One way consumers can evaluate alternatives is to identify important attributes and asses how purchase alternatives perform on those attributes. Consider the purchase of an automobile. Fach attribute, such as mileagte, is given - weight to reflect its level of importance to that com umer. Then the consumer evaluates each alternative on each attribute. For example, in the table. gas mileage (weighted at 0.5) is the most important attribute for this consumer. The consumer believe that Brand C performs best on gas mileage rating it 7 Chigher ratings indicate higher performance). Brand B is perceived as performing the worst on this attribute (rating of 3) Styling and price are the consumer's next most important attributes. Warrant is least important. A score can be calculated for each brand by multiplying the importance weight for each attribute by the brand's score on that attribute. These weighted scores are then summed to determine the score for that brand. For example. Score for Brand A-(0.2 x 4) + (0.5 X 6) + (0.1 x 5) + (0.2 x 4) -0.8 3.0 - 0.5-0.8 -5.1. This consumer will select the brand with the highest score Alternative Brand Importance Attributes Weight Styling Gsm 06 0.1 02 C. Building Customer Value: Products, Services & Brands Marketing Technology Mobile Hotspot (05 marks) You've heard of mobile Wi-Fi hotspots, but one is truly mobile your car. Automobile manufacturers Audi, Ford, Nissan, and General Motors are equipping cars with 10-inch screens and Internet access. Cadillac's new XTS includes an iPad-like touch screen and voice commands so you can keep in touch with your friends on Facebook. The government is concemed that Web access will cause a spike in accidents due to increased driver distraction and wants the devices to only work when the car is in park. Such guidelines are only suggestions, however, leaving car manufacturers to include whatever they think customers want in their vehicles. The industry's argument is that these new gadgets are safer than the handheld ones drivers are already using in their cars. Automakers claim that there will be even fewer buttons than currently found in cars, possibly resulting in greater safety for drivers and passengers. 1. Describe the core, actual, and augmented levels of product associated with an automobile. What level does the mobile Wi- Fi system represent? Explain. 2. Debate the pros and cons of including Wi-Fi Internet access in automobiles. Should the Internet access feature be included in automobiles? 1. Calculate the scores for Brands B and C. Which brand would this consumer likely choose? 2. Which brand is this consumer least likely to purchase? Discuss two ways the marketer of this brand can enhance consumer attitudes toward purchasing its brand Assignment (03 x 5-15 marks) Read the following three minitexts and attempt the questions given below for each of them. Answers will be assessed based on your understanding and able to explain it appropriately. Be specific and explain in a proper way to justify your answer. Write the answer in your own words and in a proper structure. Make sure to mention references A. Marketing Environment Marketing Technology Crowdfunding (05 marks) If you have a great product idea but no money. never fear, there's Kickstarter. An online crowdfunding site. Founded in 2008. Kickstarter enables companies to money from multiple individuals and has helped launch more than 60.000 projects. Pebble Technology Corporation created a smart" wristwatch called Pebble, which works with iPhones or Android phones, but didn't have the funding to produce and market the device. So young CEO Erie Misticovsky turned to Kickstarter for crowdfunding. His modest soal was to raise $100.000, but the company raised $1 million in only one day and total or $10.27 million in just over one month! Nearly 70.000 people preordered the SI15 wareh. and Pebble now has to deliver on the promise. Kickstarter takes a percent fee on the total funds raised and Amazon Payments handles the processing of the funds. Kickstarter charges pledgers credit cards and the project creator receives the funds within only a few weeks. The JOBS Act legislation signed into law in 2012 provides a legal framework for this type of financing, which is expected to grow even faster as a result. However, Kickstarter and similar sites don't szuarantee that the projects will be delivered as promised and some people are concerned that crowdfunding will beget crowdfunding Find another crowdfunding site and describe two projects featured on that site. B. Consumer Markets & Consumer Buyer Behavior Marketing by the Numbers Evaluatins Alternatives (05 marks) One way CONSIN can evaluate alternatives is to identity important attributes und NOSS how purchase alternatives perform an those attributes Consider the purchase of an automobile. Each attribute. such a smileuse. is siven weight to reflect its level of importance to that consumer. Then the consumer evaluates each alternative on each attribute. For example, in the table. sas mileage (weighted at 0.5) is the most important attribute for this consumer The consumer believes that Brand C performs best on gas mileage rating it 7 (higher ratings indicate higher performance). Brand B is perceived as performing the worst on this attribute rating of 3). Styling and price are the consumer's next most important attributes Warrant is least important. A Neore can be calculated for each brand by multiplying the importance weight for each attribute by the brandi's seore on that attribute. These weighted scores are then summed to determine the score for that brand. For example. Score for Brand A- (0.2 x 4) + (0.5 X 6) + (0.1 x 5) + (0.2 x 4) -0.8 + 3.0 +0.5 +0.85.1. This consumer will select the brand with the highest score. Alternative Brands portune Attributes Weight (m) styling 02 G 0.5 Warty O. 0.2 1. Calculate the scores for Brands B and C. Which brand would this consumer likely choose? 2. Which brand is this consumer least likely to purchase? Dinu two ways the marketer of this brand can enhance consumer attitudes toward purchasing its brand