Week 3 – Case Analysis
Objective: To recommend a new product strategy for a clearly identified target market that addresses the organizations root problem.
Expectations:
Begin by reading the Nascar Case in the text.
Assume the year is 2015 and prepare a 3 page proposal memo to the CEO with a comprehensive new product strategy for a clearly identified target market.
Your proposal must include:
Identification of the root problem you feel needs to be addressed in no more than one paragraph.
Identification of the target market you plan to attract with the new strategy including demographic, behavioral, geographic and psychographic segmentation descriptors. Include rationale for why this particular market was selected supported by data.
New Product Strategy – comprehensive description of tangible and intangible attributes of the product, “type” of product, form of strategy option used for this new product development, differentiation and positioning strategy. Be sure to include your rationale supported by data.
Be sure your proposal is comprehensive and includes the appropriate marketing concepts that will convince the CEO of your expertise and validity of ideas.
Format:
This does not have to be in APA format, however you must include a Reference page with at least 3 references.
Not to exceed 3 pages, not including References.
New Product Strategy:
Identify root problem – one paragraph
Identify target market and segmentation strategies
New product strategy
Format: /5
3 references
3 pages (not including references page)
Has the NASCAR fan base become too old, similar to Harley Davidson? Also similar to Harley Davidson, NASCAR must attract new and younger market segments. Should NASCAR have activities that involve the fans between races to increase fan engagement, similar to baseball? What about more diverse drivers besides white males? For instance, currently there is a female, Danica Patrick, driving in NASCAR. Will Ms. Patrick attract a new market segment base of females?
General APA Writing Tips (Not required for week 3 assignment):
In general, there is a 1/2″ paragraph indention for the first line of each new paragraph. The APA writing style uses left justify only, is double spaced, and includes a cover sheet. There is a 1″ margin on all four sides and header on each page (directions for the 6th edition are below).
There are no blank lines between paragraphs in the APA writing style. To delete the extra lines between paragraphs: in Word, click Paragraph, Spacing, then check the box that says, “Don’t add space to the paragraphs of the same style.”
To format the header for the first page and subsequent pages of the work in the 6th Edition of the APA Manual:Open a new Word document, click Page Number > top of Page > select Option 1. Under Design, click the box that says, “Different First Page.”
Then type “Running head: SHORTENED TITLE [insert the name of your shortened title in all caps] and tab the page number to the right margin. Close the header.
On the second and subsequent pages of the work, click Page Number > Top of Page > select Option 1 and type SHORTENED TITLE [insert the name of your shortened title in all caps] and tab the page number to the right margin Close the header
To see the layout of a sample APA paper, look in the APA Manual, 6th Edition pp. 41-59
For academic writing, the writer is expected to write in the third person. In the third person, the writer avoids the pronouns, “I, me, we, and our.” The third person is used to make the writing more objective by taking the individual, “self,” out of the writing. This method is very helpful for academic writing, a form in which facts, not opinions, drive the tone of the text. Writing in the third person allows the writer to come across as unbiased and, thus, more informed (APA Manual,6th Edition, p. 69)
