Assignment #2: Persona Development & Positioning Map CLO's & Grade Weighting 2. Research consumer behaviour, competition,...

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Assignment #2: Persona Development & Positioning Map CLO's & Grade Weighting 2. Research consumer behaviour, competition, and target markets to develop a value proposition of a product or services that considers sustainability. 5. Manage customer interactions in a Customer Relationship Management tool in order to improve company performance and client loyalty. 6. Identify opportunities and challenges associated with sustainable marketing business practices. Assignment Value: 20% of total grade Instructions Congratulations! Your manager at M1 Consulting Inc. was so pleased with the analysis you completed that they would like you to continue the project. The format of your analysis can be one of three forms. It is your choice: Traditional report written in full paragraphs and sentences (no more than 5 pages) Video with references included (no longer than 10 minutes) Audio with accompanying notes and references (no longer than 10 minutes) Use the same small company that you analyzed in your Business Strategy Evaluation case study assignment. You are expected to research this company, using at least 3 different resources. You will include a list of these references at the conclusion of the document. These can include: > The company's website > Other websites > Books, journals, magazines, newspapers > Interview with employees or other stakeholders > Other reputable sources as found Your manager has asked that this report focus on the customers of the company you chose. Your report should contain the following sections, at minimum: 1. A Title Page to include the name of the company, and your name, your instructor's name, and the date (not included in page count) 2. Segmentation, approximately 1 page Written or described in complete paragraph format, a description at least 2 of this company's target market segments. Be sure to describe it in terms of: . 3. Customer Behaviour, approximately 1 page Based on the specific nature of the product and/or service your chosen company offers, develop a clear picture of your company's customers. Focus on the internal and external influences on them, and be sure to consider some combination of psychological, socio-cultural, and situational influences. Geographics bemographics Psychographics Behaviouristics 4. Positioning, approximately to 1 page Based on your segmentation of this company's market in #2 above, build a profile (or persona) for one typical customer of their product or service. This profile should include all relevant segmentation variables as outlined in the course, and should give actual personality to the person. (e.g. Alice is a 42 year-old mother of 2......and then describe Alice using the highlights of the segmentation analysis....) Create a positioning (or perceptual) map for this product/service. Be sure to select the appropriate x and y axes, all relevant competitors, and position the offering accordingly. The MS-Word Table function will be helpful here. Describe the key parts of the map in a few lines. . 5. Recommendations, approximately to 1 page Based on what you have learned about this company through your analysis in both Assignments #1 and #2, what are 3 marketing-related initiatives you would recommend this company undertake in the future. Briefly explain 'why' for each (but you do not have to provide many details on "how'), based on what you have learned about the company Ensure that each recommendation relates to one of the 4 P's of the marketing mix . 6. References/Bibliography - final page (not included in page count) List all references used, including publications and websites. *Please Note: Please cite any content that is not your own creation. It is expected that you will use your own words, but even so, the ideas might have come from another source, so use citations. Use a minimal number of direct quotes - only where necessary. If material is not cited and is not original, it will be considered plagiarism. Please consult your professor if you have any questions or concerns about this. **There is no required citation format required in this course - use your own judgement and be consistent.** Use 12-point font, preferably Calibri or Arial. Emphasize the headings that label each new section using Styles in the Home tab (when using Word). Include page numbers in your report. Please see attached marking rubric. Submit through Blackboard (under Assessments tab in the course menu). CATEGORY Rubric Application of Content Grand Total Exemplary Quality of Content Depth and Breadth of Research 5 13-15 Proficient 3-4 10-12 Clear evidence that multiple and appropriate sources of research information were used in this project. Application of course topics and research used throughout the project. All information is clear, appropriate and correct. Partially Proficient 2 7-9 Adequate evidence that sources of research were used in the creation of this project. Application of course topics and research evident throughout most of the project. Most information is clear, appropriate and correct. Comments: Incomplete 1 3-6 Little evidence that sources of research were used in the creation of this project. Some application of course topics and research are evident. Some information is confusing or incorrect. Not Present or Acceptable 0 No evidence that sources of research were used in the creation of this project. Application of course topics and research are not evident. Information is confusing or incorrect. Total Possible /20 Score Total Possible /5 Total Possible /15 Ada Support Inc. Sareh Sadat Mohammadi Covey, Angie 2022-10-23 Company and Business Description The software and technology industry is growing at a considerable rate as more firms continue venturing into the industry. Ada Support Inc. is a renowned brand interaction application that enables companies to automate conversations with their customers and employees, hence saving costs and enhancing revenue growth (Ada Support Inc., 2022). Being a computer software company, Ada Support Inc. operates in the software industry, particularly in the application software sub-industry. The company was established in 2016, thus it has operated for 5 years, which has helped companies globally to communicate with their employees and customers more effectively. Technological advancements enable companies to offer automated customer support efficiently without losing their customer base. Ada Support Inc. offers Al-driven services to organizations that include answering popular support questions, delivering personalized interaction, and anticipating customer needs (Ada Support Inc., 2022). Despite the company being located in Canada, it provides services to any company worldwide that intends to boost its employee and customer interactions. Large organizations with a diverse customer base are the company's main customers as they require automated chat boxes to manage their customers and enhance their brand interactions. Software Industry Analysis Ada Support Inc. is committed to providing software that enables organizations to automate conversations with their employees and customers. The software industry entails the creation, distribution, repairing, and maintaining software that is used in various departments. The industry enables organizations to streamline their operations and handle challenges related to proficiency and quality more efficiently. Due to the rapid growth of the software industry, Ada Support Inc. faces stiff competition from other companies like Experience Cloud, Mobile Studio, and IBM Marketing Cloud which offer similar services. According to the economic outlook, the revenue of the software market is projected to grow up to US$580bn by the end of 2022 (Statista, 2022). The largest market segment of the software industry is Enterprise Software with a market volume of above US$230 in 2022 (Statista, 2022). Most revenue of the software industry originates from the United States and is expected to grow at an annual rate of 6.5% until 2027 (Statista, 2022). Economic, competitive, technological, political, and demographic are the environmental forces that will influence the future growth or downfall of the software industry. Ada Support Inc. Marketing Mix The marketing mix of a business organization includes the 4Ps; product, pricing, place, and promotion strategies. In the product strategy, Ada offers an automated chat box that allows organizations to converse and interact with their employees and customers effectively (Ada Support Inc., 2022). Additionally, the company provides support to firms struggling with employee management through its scalable and intuitive design that helps employees relate to their organizational goals. The company engages in a segmented pricing strategy where it charges different prices to organizations based on their size, number of employees, geographical settings, and the associated industry (Wu et al., 2019). For instance, a company operating in the software industry and located in Canada will pay less than a company based in the United States operating in the retail industry. The company mainly operates online where it engages with its clients from all over the world and offers services accordingly. Ada mainly promotes its services through social media platforms like Twitter and LinkedIn, its website, and paid advertisements on search engines. Ethics and Corporate Social Responsibility Business organizations are expected to portray appealing ethics and corporate social responsibility in their operations. Kim & Thapa (2018) outline that ethics entail the moral standards and principles that influence behavior in the business world, while corporate social responsibility forms the integrative management concept that establishes responsible behavior in corporations regarding their values, interests, competencies, and objectives. Ada Support Inc. demonstrates ethical behavior by paying its employees fair wages that align with their obligations and productivity. Through such practices, Ada motivates its employees to conduct their duties efficiently as they are assured of deserved and timely payment. As a result, the company has experienced significant growth since its establishment and rose through the ranks to become a reliable computer software company in the global context. SWOT Analysis of Ada Support Inc. Strengths Provision of automated chat boxes that are popular and necessary in the modern business world. Unique branding. Affordable prices. Weaknesses Small workforce. Limited resources 3 Opportunities More organizations are embracing technology for customer services. Projected high industry growth soon. Government support. . Threats Lack of entry barriers in the software industry. High competition in the industry. . Summary of the Analysis Investing in Ada Support Inc. is a good venture that the management should consider as a long- term project. Though the company has prospered in recent years, it accumulates minimal revenue, hence the management should purchase the entire corporation instead of becoming a major shareholder. Ada can potentially grow into a massive software company in the future if it capitalizes on the opportunities emerging in the technology sector. Considering that the software industry is projected to grow at an annual rate of 6.5% in the next few years, the company can also expand with the same margin. Thus, investing in the organization is profitable as the firm can earn more revenue in the future after capitalizing on the market opportunities. Many organizations in the modern business world are preferring automated chat boxes for their customer services, which provides an opportunity for Ada to grow. The management can acquire the company and finance it sufficiently to boost its services and facilitate its operations. Moreover, most governments globally are pushing for digitalization and financing companies that facilitate the process. Therefore, Ada can benefit from government finances, which will lower its operating costs and boost its revenues. As a result, investing in the computer software company can generate huge cash flows in the future as compared to other firms operating in different industries. The management should consider buying the company when it is still small as it has a high potential of expanding significantly in the future. 4 References Ada Support Inc. (2022). Brand Interaction Platform: Conversational Al. https://www.ada.cx/ Kim, M. S., & Thapa, B. (2018). Relationship of ethical leadership, corporate social responsibility, and organizational performance. Sustainability, 10(2), 447. https://doi.org/10.3390/su10020447 Statista. (2022). Software - Market data analysis and forecasts. Statista Technology Market Outlook. https://www.statista.com/outlook/tmo/software/worldwide Wu, C., Buyya, R., & Ramamohanarao, K. (2019). Value-based cloud price modeling for segmented business to business market. Future Generation Computer Systems, 101, 502-523. https://doi.org/10.1016/j.future.2019.06.013 Assignment #2: Persona Development & Positioning Map CLO's & Grade Weighting 2. Research consumer behaviour, competition, and target markets to develop a value proposition of a product or services that considers sustainability. 5. Manage customer interactions in a Customer Relationship Management tool in order to improve company performance and client loyalty. 6. Identify opportunities and challenges associated with sustainable marketing business practices. Assignment Value: 20% of total grade Instructions Congratulations! Your manager at M1 Consulting Inc. was so pleased with the analysis you completed that they would like you to continue the project. The format of your analysis can be one of three forms. It is your choice: Traditional report written in full paragraphs and sentences (no more than 5 pages) Video with references included (no longer than 10 minutes) Audio with accompanying notes and references (no longer than 10 minutes) Use the same small company that you analyzed in your Business Strategy Evaluation case study assignment. You are expected to research this company, using at least 3 different resources. You will include a list of these references at the conclusion of the document. These can include: > The company's website > Other websites > Books, journals, magazines, newspapers > Interview with employees or other stakeholders > Other reputable sources as found Your manager has asked that this report focus on the customers of the company you chose. Your report should contain the following sections, at minimum: 1. A Title Page to include the name of the company, and your name, your instructor's name, and the date (not included in page count) 2. Segmentation, approximately 1 page Written or described in complete paragraph format, a description at least 2 of this company's target market segments. Be sure to describe it in terms of: . 3. Customer Behaviour, approximately 1 page Based on the specific nature of the product and/or service your chosen company offers, develop a clear picture of your company's customers. Focus on the internal and external influences on them, and be sure to consider some combination of psychological, socio-cultural, and situational influences. Geographics bemographics Psychographics Behaviouristics 4. Positioning, approximately to 1 page Based on your segmentation of this company's market in #2 above, build a profile (or persona) for one typical customer of their product or service. This profile should include all relevant segmentation variables as outlined in the course, and should give actual personality to the person. (e.g. Alice is a 42 year-old mother of 2......and then describe Alice using the highlights of the segmentation analysis....) Create a positioning (or perceptual) map for this product/service. Be sure to select the appropriate x and y axes, all relevant competitors, and position the offering accordingly. The MS-Word Table function will be helpful here. Describe the key parts of the map in a few lines. . 5. Recommendations, approximately to 1 page Based on what you have learned about this company through your analysis in both Assignments #1 and #2, what are 3 marketing-related initiatives you would recommend this company undertake in the future. Briefly explain 'why' for each (but you do not have to provide many details on "how'), based on what you have learned about the company Ensure that each recommendation relates to one of the 4 P's of the marketing mix . 6. References/Bibliography - final page (not included in page count) List all references used, including publications and websites. *Please Note: Please cite any content that is not your own creation. It is expected that you will use your own words, but even so, the ideas might have come from another source, so use citations. Use a minimal number of direct quotes - only where necessary. If material is not cited and is not original, it will be considered plagiarism. Please consult your professor if you have any questions or concerns about this. **There is no required citation format required in this course - use your own judgement and be consistent.** Use 12-point font, preferably Calibri or Arial. Emphasize the headings that label each new section using Styles in the Home tab (when using Word). Include page numbers in your report. Please see attached marking rubric. Submit through Blackboard (under Assessments tab in the course menu). CATEGORY Rubric Application of Content Grand Total Exemplary Quality of Content Depth and Breadth of Research 5 13-15 Proficient 3-4 10-12 Clear evidence that multiple and appropriate sources of research information were used in this project. Application of course topics and research used throughout the project. All information is clear, appropriate and correct. Partially Proficient 2 7-9 Adequate evidence that sources of research were used in the creation of this project. Application of course topics and research evident throughout most of the project. Most information is clear, appropriate and correct. Comments: Incomplete 1 3-6 Little evidence that sources of research were used in the creation of this project. Some application of course topics and research are evident. Some information is confusing or incorrect. Not Present or Acceptable 0 No evidence that sources of research were used in the creation of this project. Application of course topics and research are not evident. Information is confusing or incorrect. Total Possible /20 Score Total Possible /5 Total Possible /15 Ada Support Inc. Sareh Sadat Mohammadi Covey, Angie 2022-10-23 Company and Business Description The software and technology industry is growing at a considerable rate as more firms continue venturing into the industry. Ada Support Inc. is a renowned brand interaction application that enables companies to automate conversations with their customers and employees, hence saving costs and enhancing revenue growth (Ada Support Inc., 2022). Being a computer software company, Ada Support Inc. operates in the software industry, particularly in the application software sub-industry. The company was established in 2016, thus it has operated for 5 years, which has helped companies globally to communicate with their employees and customers more effectively. Technological advancements enable companies to offer automated customer support efficiently without losing their customer base. Ada Support Inc. offers Al-driven services to organizations that include answering popular support questions, delivering personalized interaction, and anticipating customer needs (Ada Support Inc., 2022). Despite the company being located in Canada, it provides services to any company worldwide that intends to boost its employee and customer interactions. Large organizations with a diverse customer base are the company's main customers as they require automated chat boxes to manage their customers and enhance their brand interactions. Software Industry Analysis Ada Support Inc. is committed to providing software that enables organizations to automate conversations with their employees and customers. The software industry entails the creation, distribution, repairing, and maintaining software that is used in various departments. The industry enables organizations to streamline their operations and handle challenges related to proficiency and quality more efficiently. Due to the rapid growth of the software industry, Ada Support Inc. faces stiff competition from other companies like Experience Cloud, Mobile Studio, and IBM Marketing Cloud which offer similar services. According to the economic outlook, the revenue of the software market is projected to grow up to US$580bn by the end of 2022 (Statista, 2022). The largest market segment of the software industry is Enterprise Software with a market volume of above US$230 in 2022 (Statista, 2022). Most revenue of the software industry originates from the United States and is expected to grow at an annual rate of 6.5% until 2027 (Statista, 2022). Economic, competitive, technological, political, and demographic are the environmental forces that will influence the future growth or downfall of the software industry. Ada Support Inc. Marketing Mix The marketing mix of a business organization includes the 4Ps; product, pricing, place, and promotion strategies. In the product strategy, Ada offers an automated chat box that allows organizations to converse and interact with their employees and customers effectively (Ada Support Inc., 2022). Additionally, the company provides support to firms struggling with employee management through its scalable and intuitive design that helps employees relate to their organizational goals. The company engages in a segmented pricing strategy where it charges different prices to organizations based on their size, number of employees, geographical settings, and the associated industry (Wu et al., 2019). For instance, a company operating in the software industry and located in Canada will pay less than a company based in the United States operating in the retail industry. The company mainly operates online where it engages with its clients from all over the world and offers services accordingly. Ada mainly promotes its services through social media platforms like Twitter and LinkedIn, its website, and paid advertisements on search engines. Ethics and Corporate Social Responsibility Business organizations are expected to portray appealing ethics and corporate social responsibility in their operations. Kim & Thapa (2018) outline that ethics entail the moral standards and principles that influence behavior in the business world, while corporate social responsibility forms the integrative management concept that establishes responsible behavior in corporations regarding their values, interests, competencies, and objectives. Ada Support Inc. demonstrates ethical behavior by paying its employees fair wages that align with their obligations and productivity. Through such practices, Ada motivates its employees to conduct their duties efficiently as they are assured of deserved and timely payment. As a result, the company has experienced significant growth since its establishment and rose through the ranks to become a reliable computer software company in the global context. SWOT Analysis of Ada Support Inc. Strengths Provision of automated chat boxes that are popular and necessary in the modern business world. Unique branding. Affordable prices. Weaknesses Small workforce. Limited resources 3 Opportunities More organizations are embracing technology for customer services. Projected high industry growth soon. Government support. . Threats Lack of entry barriers in the software industry. High competition in the industry. . Summary of the Analysis Investing in Ada Support Inc. is a good venture that the management should consider as a long- term project. Though the company has prospered in recent years, it accumulates minimal revenue, hence the management should purchase the entire corporation instead of becoming a major shareholder. Ada can potentially grow into a massive software company in the future if it capitalizes on the opportunities emerging in the technology sector. Considering that the software industry is projected to grow at an annual rate of 6.5% in the next few years, the company can also expand with the same margin. Thus, investing in the organization is profitable as the firm can earn more revenue in the future after capitalizing on the market opportunities. Many organizations in the modern business world are preferring automated chat boxes for their customer services, which provides an opportunity for Ada to grow. The management can acquire the company and finance it sufficiently to boost its services and facilitate its operations. Moreover, most governments globally are pushing for digitalization and financing companies that facilitate the process. Therefore, Ada can benefit from government finances, which will lower its operating costs and boost its revenues. As a result, investing in the computer software company can generate huge cash flows in the future as compared to other firms operating in different industries. The management should consider buying the company when it is still small as it has a high potential of expanding significantly in the future. 4 References Ada Support Inc. (2022). Brand Interaction Platform: Conversational Al. https://www.ada.cx/ Kim, M. S., & Thapa, B. (2018). Relationship of ethical leadership, corporate social responsibility, and organizational performance. Sustainability, 10(2), 447. https://doi.org/10.3390/su10020447 Statista. (2022). Software - Market data analysis and forecasts. Statista Technology Market Outlook. https://www.statista.com/outlook/tmo/software/worldwide Wu, C., Buyya, R., & Ramamohanarao, K. (2019). Value-based cloud price modeling for segmented business to business market. Future Generation Computer Systems, 101, 502-523. https://doi.org/10.1016/j.future.2019.06.013