Portfolio 4: Lesson 10 Assignments
Introduction to Assignment: About two-thirds of US consumers prefer to shop in traditional brick-and-mortar stores. On the other hand, recent studies have found that consumers are beginning to purchase some types of products more online than at retail stores. Today, 44% of consumers purchase books online and 36% of consumers purchase clothing, accessories, and shoes online. If these trends continue, some brick and mortar retailers could go out of business. On the other hand, some brick and mortar retailers are thriving by serving customers through both channels, while a few specialty retailers continue to sell only through traditional (brick and mortar) channels.1
This exercise gives you a chance to compare the relative advantages of each channel and project what value each channel offers to the consumer.
Deliverables: 1. Visit a typical retail store where you can buy clothes, books, sporting equipment, and shoes. Pick four specific products in three different categories and note their retail price. Category examples include but are not limited to electronics, shoes, fragrances, jewelry, tools, clothing, over-the-counter medication, luggage, household items, furniture, building materials, automotive parts, grocery items, toys, and books.
2. Search online for vendors who sell the identical four products in exactly the same variation of size, color, and so forth.
3. Create a spreadsheet or matrix to compare prices online to the retail store price. Be sure to include shipping costs, if any, from the online stores.
4. What are the other "costs," including time, effort, travel expense, and so forth, associated with each purchase?
5. Explain the relative value of each channel. List the reasons why a consumer would choose to pay a higher price through one channel or the other?
6. What do you believe brick and mortar stores must do to successfully compete with online retail vendors?
1. Loechner, Jack. "Shoppers Prefer Personalized Brick & Mortar vs. Online." Research Brief.May 27, 2013.
Lesson 11 Assignments
Assignment Introduction: For this assignment, please do the following:
1. Select two print advertisements-an effective ad and an ineffective ad.
2. Identify the source-name of magazine, website, catalog, or other source.
3. Identify the target market-person and usage situation.
4. Identify the objective(s)-cognitive, affective, behavioral.
5. Evaluate the potential effectiveness of each ad using the following criteria:
a. Recall-Is the product obvious? Is the company obvious?
b. Persuasion-Is the key benefit obvious? Are you convinced?
Deliverables: Please submit both print ads (copy and paste from a website or submit a digital image from your camera or scanner).
For the effective print ad, please include the following:
1. Copy of the effective print ad
2. Source
3. Brief description of the target market for the ad
4. Brief description of the objective(s) of the ad
5. Evaluation of the ad using recall and persuasion criteria
For the ineffective print ad, please include the following:
1. Copy of the ineffective print ad
2. Source
3. Brief description of the target market for the ad
4. Brief description of the objective(s) of the ad
5. Evaluation of the ad using recall and persuasion criteria
Lesson 12 Assignments
Deliverables: 1. Review the following two crowdfunding websites: Kickstarter.comand Indiegogo.com
2. Conduct your own research to identify three projects that were successfully funded through crowdfunding.
3. Explain why you think those projects or products were successful in using crowdfunding.
4. Find three products or projects that were less successful, or which you believe will be less successful through crowdfunding, and explain why they did not or probably will not succeed.
5. Come up with a few bullet points that represent your "formula for success" in the utilization of crowdfunding as a means to either raise capital or bring a new idea to market.