Marketing analysis comparing Prada and Forever 21

/in /by

PROJECT SPECIFICS:

– Choose two products, services, or businesses in the industry of your choice. Make sure that they have totally different target audiences so that you can compare the two. Examples: car models like a Toyota Tercel, and a Maserati ….or…..food places like a Soup Kitchen, and Ruth’s Chris Steakhouse …. You get the idea ?? 

– Keep it under 15 pages…. There are 10 questions on the topics you have chosen .

– Single or double spaced….surprise me.

– Print it out two-sided if possible….SAVE PAPER.

– No citation page required ( most of this you will have to figure out in your head.

– No table of contents ( just answer all questions in the order asked ).

– All tables and charts must be electronically created ( no hand drawn )

– # 1, plus  # 2, plus # 3, plus # 4, should be equal in length to one half of your paper by themselves. The     other six questions should equal the other half of the paper ( approximately ).

– Discuss, in as much detail as necessary, the following topics:

1.   Describe all of the segmentation variables that your two choices used to target their customers. How are they different from each other ? (Geographic, Demographic, Psychographic, and Benefits Sought). A chart that supplements your discussion is necessary. This will be a long answer.

2.    Discuss the Marketing Mix for the two products. ( Four P’s ) . Compare both in detail …Make a chart of the four P’s… I expect this section to be quite extensive …. ( Long discussion and chart )

3.   Visit the web sites for both competitors. Give a synopsis of your findings and thoughts. Are they user friendly sites ? Do they provide needed information ? Are they interactive ? Do they offer coupons, locations, or directions, if applicable ? Tell me as though I am blind. This should be pretty detailed.

4.   How have each of the the competitors positioned themselves in the market- place ? In your opinion, have they done a good job ? If not, why not ? Do you feel that the target consumers see the company properly (as the company expects) ? Design a short survey…5 Questions  / 15-20 people….. to find out and analyze the results. For example, do both competitors occupy the same place in the consumers mind or are they somehow differentiated from each other ? Is one the “quality leader” while the other is vying to be the “price” leader, etc. ?

5.    What  issues do these competitors have to deal with ? Think in terms of INTERNAL and EXTERNAL factors…. Do a SWOT analysis for your primary choice.

 

6.   What can you find out about your choices and how they are addressing the “societal marketing concept” ? Do they pollute ? Do they recycle ? Do they use toxic chemicals ? ( hint: look at their web sites or in-house literature ). Do they support charitable causes ? Google it.

7 .   How does Personal Selling ( Relationship Selling ) affect the final consumer who buys your product ? Connect the dots for me….what kind of ‘white collar’ sales efforts from ALL the different suppliers was required to ‘create’ the final product ?  In other words, how did the efforts of all the B2B buyers and sales people associated with your primary choice impact the final consumer once they bought your product or service?

8 .   Discuss at least three different activities that your choice has to deal with in their ‘Blue Collar’ supply chain management process. ( ie: suppliers, assembly line workers, raw ingredients, resellers, forklift drivers, trucking companies, etc. ). Explain how they interact with or handle these issues.