You are invited to attend the Trident Symposium International (TSI), a meeting for entrepreneurs and marketing execs (also known as MKT501). Use this forum to discuss a product or service you wish to launch. Click the list of recommended products/service areas. It is acceptable to create a small service-oriented business that is unique to your geographic area.During class, you will develop a comprehensive strategic marketing plan; TSI provides a unique opportunity to share with peers and evolve your ideas. While the business you will work with may not be real, the research, application, and competitive analysis used in the class will be.The list is divided into categories that reflect career paths followed by many of Trident s students. It allows you to pick a product that can work for your future or current profession. If you would like to choose a product or service not listed above, you must receive faculty approval early in week 1. If you did not get approval prior to posting, you may need to redo the work.During this class, you will be working progressively with a product/service of your creation. Prior to selecting a topic and starting on the assignments, you should review the other units. This will help you to select an appropriate product/service with which to work.Be sure to pick a product or service that is ready to market. If you are developing a new product (or service), assume that it is beyond the development phase ready for the marketplace.Customer ProfilingUnderstanding your customer profile is essential to the overall marketing plan. Customer profiles also help with selecting the correct media for the target markets, positioning, and segmentation.WEEK 1 DISCUSSION POSTProvide a brief description of the product/service with which you will work.Visit US Framework and VALS Types and complete the following:Choose three possible profiles for your product s audiences. NOTE: You can take the VALS survey if you wish.Explain why you are targeting these segments. Provide three possible places to advertise to these audiences.This post should be 2 paragraphs in length (150-200 words). Since you are engaging in research, be sure to cite in the body of the post and add a reference list in APA format.WEEK 1 INTERACTIVE RESPONSES TO CLASSMATES1st Interactive Response:Analyze the following for product target market profile. Critique the selections. The service to which I would like to launch would be: HR outsourcing. This is because the small service oriented business would be unique in urban areas because of the apparent lack of human resources. By ushering in the newer era for this service, it will entice newer nationalities and cultures to venture into this new surrounding. From that VALS survey the three profiles for the product audience would be: (1) innovators, (2) experiencers and (3) thinkers. Some of the main reasons to which the three were selected centers around three basic notions. These would be: (1) success and (2) stability and (3) foundation. By forming traditional and intellectual perspectives, this allows other individuals from different cultures and backgrounds to contribute to the bigger picture and it also entices career paths and opportunities for individuals to aspire to. This is a great concept because it features a dominant (innovators) and a secondary (experiencers) to compliment each other. “Your primary VALS type means that you are most like the Innovators consumer group. Your secondary type the group you are next most like is Experiencers. (Strategic Business Insights, 2009, p.9). 2nd Interactive Response:Analyze discussion of customer profiling. Share ideas or techniques that can be used in communicating the product message with the target.The product/service I am choosing for the course is IT Training specifically in Cyber-security Defense. The service provides consultation and information to customers teaching best practices to prevent, mitigate, defend, and recover from a data breach. Many of you may be aware of the rise in identity theft, ransomware, data leak, and compromised companies where hackers were able to steal and sell millions of customer data. A case recently would be the Equifax breach where a vulnerability exposed sensitive personal information (SPI) data for over 143 million Americans (“The Equifax Data Breach”, 2018). I currently work in the Information Security department at a fortune 50 company specializing in Cyber-security defense. News like this keep my company, peers, and myself awake at night, as with the growth and reliance we have on technology, there are actors with bad intentions using technology against us to steal or even sabotage.I completed the VALS survey and read the descriptors of segments and would market my service to Makers, Innovators, and Achievers. Innovators take in information and are knowledgeable about current events, believe in science and R&D, and are receptive of new ideas and technology. They are aware of the growing reliance we have on technology and should be aware of existing threats that come with it. Achievers are private, professional, and value technology that provide productivity boost. Hard working and goal oriented they are knowledgeable of current issues and events, and are conscious of businesses who may have had a breach losing their personal data. Makers distrust the government and want to protect what they perceive as theirs (their data). With government attempting to limit our use of the internet (Net Neutrality) this segment would be interested in protecting their digital information.Possible places to advertise to these audiences would be online course resources such as Udemy or Lynda to advertise and sell training. Conventions such as Defcon which is a ‘hacker’ convention hosted in Las Vegas Nevada and hosts for private, government, public sectors sharing information on current technology vulnerabilities and hacking techniques. A third outlet would be to advertise and share information via Social Media. Customers with social media activity use technology daily and should be interested in keeping their data private and may be unaware of how much information they may actually be sharing via a ‘tweet’ or a status post.Each reply should be one paragraph in length (or about 75 words) and must be substantive in nature. Do not simply say I agree or That is great. Specify why and be detailed in your explanation. You may use research in your responses, but it is not required.WEEK 2 DISCUSSION POSTSpeaking the Right LanguageGetting the right message out to the right market with the right media needs to be considered in the marketing plan. With so many options available today, the media mix should incorporate traditional and new media.Provide a brief description of your chosen product/service. (This should be used throughout class.)Select a competitor s product or service and list at least three places where you found it promoted.Discuss how each promotion caught your attention.What made you notice this ad or placement?What type of appeal did the messages use to capture attention?Did you or will you buy the product because of the ad? Explain why or why not.This post should be 2 paragraphs in length (150-200 words). Since you are engaging in research, be sure to cite in the body of the post and add a reference list in APA format.WEEK 2 INTERACTIVE RESPONSES TO CLASSMATES1st Interactive Response:Select one student’s product and look for it on social media, promotions, special events, television commercials, print ads, or billboards. Assess if the placements and messages are a good fit for the product.For this course the product I have choose to market is organic white honey, specifically Kiawe White Honey, which is unique to the Hawaiian Islands. As I am situated in Hawaii, I have access and the opportunity to market and share one of Hawaii s hidden treasures, not found anywhere else. In today s health conscious world, integration into health stores such as Whole Foods or on Amazon will provide the retail arm needed to disrupt this market.After reviewing the US Framework and VALS Types I have chosen three possible VALS segments to market to my product. The segments I chose are Innovators, Experiencers, and Achievers. I am primarily targeting these segments as all three, according to SBI have the highest percentages of belonging to a fitness club or gym of 42%, 36%, and 30% respectively. As I have identified my product being appealing to a health-conscious market this is an important statistic to consider. Next, I considered how often these segments order from Amazon in the past year. SBI notes 77% of Innovators, 46% of Experiencers, and 61% of Achievers ordered from Amazon in the past year. Previously I mentioned Whole Foods as a potential distributor which is important as Amazon owns Whole Foods. Finally, I considered individual psychological descriptors for each segment noted by SBI and factored what segment descriptor most closely fit my marketing approach. To advertise to these segments as all three had the highest Amazon use in the past year, this is the first platform I will target. By working with Whole Foods and Amazon I may be able to get my product exposure on Amazon and subsequently sold both online and in store, potentially reaching a large number of people. Second, as gym memberships and health clubs are popular with the chosen segments. I will market my product at fitness chains throughout the US and in fitness magazines. Lastly, I will look to donate some of my product to create exposure and appeal as a company to some of the individual psychological descriptors.2nd Interactive Response: share how the messages affect you and why.The Pear is a solar-powered wireless/Bluetooth earphone that enables guests to answer phone calls and listen to audio files without consistent charging. This product suits the patrons’ needs and is convenient; other popular brands made similar products, however, they haven t fully accessed every facet of the customer demands essentially, failed to deliver. In relation to the VALS types, the three possible profiles for your product s audiences are Thinkers, Achievers, and Innovators. If I was prioritizing these profiles, the order would be Innovators, Achievers, and Thinkers, respectively.Innovators are creative; they develop and endorse new ideas that stimulate production, occasionally. Achievers are goal-oriented; if there is a professional or personal task, Achievers use opportunities to accomplish the task and meet the goal. I would say that Thinkers and Innovators are similar, however, there is a dissonance between the two. The three locations that are feasible to advertise to these audiences are Los Angeles, California, Miami, Florida and Atlanta, Georgia. These cities are flourishing exceptionally, which increases the likelihood the product distribution and lucrative success.Each reply should be one paragraph in length (or about 75 words) and must be substantive in nature. Do not simply say I agree or That is great. Specify why and be detailed in your explanation. You may use research in your responses, but it is not required.In your own words, respond to the discussion and comments of classmates. Grades will be based on effectual, concise, and interactive feedback. The excessive use of quotes will directly impact performance, since this indicates a lack of comprehension and shows that you may not have mastered the concepts.Grading Note:At Trident University International, rubrics are used for grading. These rubrics specify the points available for each component of an assignment. Points are earned based on the level of work submitted. The rubric below is used for discussions in the MBA/MSHRM/MSL degree programs. Rubrics for Cases and SLPs are found on the Dropbox link for those assignments.
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