MKT 530 Chapter 17 Discussion Questions Assignment FALL 2020 - Upload PDF

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QUESTION ONE The brand considered is Honda, and its 5Cs are discussed below. The Company Honda prides itself on being the leader in various segments. Research and development, design and innovation, the channels used to distribute products, and information technology contribute to Honda’s pride in being the leader in the industry. The company’s work culture is very robust, with workers playing a role in its problem-solving exercises. Honda’s strengths are its brand name, being a leader in the market, an extensive customer base, and being strong financially. Weaknesses could be that the company’s supply chain in inflexible, revenue per unit decreases, stresses on the job have caused workers to leave frequently, and the recall of its vehicles. The opportunities for Honda are potential growth in the low-end market, the opportunity to target regional companies for collaboration, growing opportunities in overseas markets, such as in Asia and China, and producing electric vehicles. Threats from competitors and automobile regulation in the industry are issues that Honda will have to contend with. Customers Concerning brand loyalty, Honda’s customers can be price sensitive, which requires the company to focus on their attitude and behavior. The target markets are high and low-end segments. However, there are a few customers who prefer quality in comparison to the price of its products.

The Competition 1

Honda has a challenge concerning market growth due to the intense rivalry that exists among its competitors. Differentiation is low, and this is a challenge that affects the company’s profitability. Substitutes and new entrants in the market are issues that Honda has to address in dealing with competitors. The Collaborators Forming partnerships with collaborators has been favorable for the company, as it has been able to develop new product lines and enhance its distribution process. The Context Labor and tax laws, developments on the global level, political factors, growth in the population, inflation, and advancement in technology affect Honda’s operations. Honda can improve its presence in communities by being more visible and involved. This presence would aid in enhancing its corporate image. Honda could also focus on other markets, such as China, to increase its sales. Investment in technological innovation, such as digitized operations, could also allow the company to be above its competitors.

QUESTION TWO 2

A Politician should proceed with caution and ensure that the objectives of winning an election are transparent and unbiased. Politicians could focus on segments based on demographics and geographical location. Each segment should be analyzed not to obtain personal gains but to ensure the constituents are developed and fairly treated. In deciding the segment or region to target, Politicians should seek to understand the diversity, problems, culture, and needs of each election’s region. Obtaining such an understanding would assist in developing strategies for succeeding in a campaign. The Politician would have to be positioned in such a way as to involve the marketing mix such as product and promotion.

QUESTION THREE In choosing a career path as a comedian, the product would be the jokes, the nature of the jokes, content, and delivery style. These should be unique and carefully developed and differentiated from those of other competitors to ensure success and achieve the goal of entertaining an audience through humor. It might be somewhat challenging for a comedian to decide the value or price of each performance at the start of a career. Hence, liaising with other experienced comedians to ascertain how they do their pricing might be work considering. When this is done, discounting or keeping the price below the competition at the start could help establish the career. The place to deliver your product is very crucial and may have a significant impact on your success. Since this person is young, the youth and young adults should be targeted. These persons frequent malls, television stations, the internet, social media, and popular websites. These avenues could be considered at first, then maybe branching out into other places could be included. 3

Making others aware of your product will require advertising, whether on TV stations, the internet, billboards, educational institutions, or word of mouth. These methods would help in promoting your product.

REFERENCES https://notesmatic.com/2019/08/honda-motors-swot-analysis-2019/

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