Communications Question

Description

General instructions:

1. Enter one of the following crowd funding sites:

Kickstarter – https://www.kickstarter.com /

Indiegogo – https://www.indiegogo.com /

2. Choose a new product from these sites AND a company, which will be the one marketing it (not the

company that invented the product from the crowd sourcing site, but a different well-established

company). The campaign of the product/service must be from the past 3 months (Instructions how the

know the launch date of the campaign will be given in class).

o Learn about the product from the crowdfunding page.

o Learn about the company from its site.

▪ Describe in a short paragraph the product you chose and add a link to the crowdfunding page of the

product.

▪ Let us know Which company you chose that will be the one marketing the new product.

Answer the following questions:

1. Internal analysis: The Marketing concepts (up to ½ a page, 10 points):

Identify the marketing concept that characterizes the firm you chose (usually you can learn about it from

the “about” section in the site).

2. Internal analysis: “What business are we in?” (One sentence, 6 points)

Define the business of the firm as we learned.

3. Information search and the Macro environment (up to 1.5 pages, 24 points):

Refer to your definition of the business of the firm in question 2.

Describe 4 relevant Macro environment influences that you learned about, according to the following

instructions:

A. Search for a secondary data resource about the relevant industry to the business definition, from

which you can learn about relevant Macro environment influences. You may use any source such as

online newspapers, a marketing intelligence source such as Statista or Market Line, or a relevant

Google search.

Based on what you learned from the resources, describe 2 Macro environment influences.

Add the links of the resources you based your answer on in an Appendix.

B. Write a query using ChatGPT 3.5/4 or other GenAI tools that will help you learn about relevant

Macro influences to the industry of the business definition.

Based on the result, describe 2 Macro environment influences (different from the ones you

described in A).

Add in the same Appendix the name of the tool you used, a description of your query and of the

final result to it.

C. Provide a brief critical comparison between the two sources of information (secondary vs. GenAI)

as a means to gather information.

4. The Micro environment – Competition (up to 3/4 page, 20 points):

A. Identify one product form competitor one product category level competitor and one generic level

competitor.

B. Enter the site of each competitor and provide a short and relevant analysis of it (one paragraph for each

competitor). You may choose what to emphasize from all we learned about competition. Think of what the

company you are writing about would want to know about its potential competitors, as a base of making

marketing decisions.

5. The Micro environment – Customers (up to 1 page, 20 points):

A. Identify what the company currently does in order to retain and develop its customers.

B. Suggest two more thing it can do to better manage its relationship with its customers.

6. Perform a SWOT analysis for the firm in the relevant business (up to 3/4 page, 20 points).

General requirements:

▪ Maximum pages for the assignment: 5 + Appendix.