Market research analyst at Prime Apparel

        You’ve been a market research analyst at Prime Apparel for a few months now and have had time to review all of the marketing strategy data that was developed by the new marketing manager. Your review includes interpreting the research and analytics that were used to make decisions and how the communication of those decisions impacted sales. This information is beneficial for when you need to present a sales update to the rest of the leadership team. Assessment Completion Instructions This assessment is split into 2 parts that need to be completed in the following order: Complete the marketing simulation. You will repeat The Four Ps of Successful Strategy Simulation you completed in Wk 5. You may use these same marketing selections in this week’s simulation (based on the notes you took in Wk 5) or adapt your decisions with each attempt to reach the goal of a net profit of $1,500. Create a presentation using the instructions below in which you assess the effectiveness of business communications in relation to the sales of the backpacks to present to leadership team. Assessment Deliverable Analyze the marketing strategy you developed and finalized while completing Wks 5 and 6: The Four Ps of Successful Strategy Simulation. Based on the strategy, create an 8- to 10-slide presentation to present to the leadership team in which you assess the effectiveness of business communications in relation to the sales of the backpacks. Include the following: A summary of the marketing strategy An evaluation of 2 communications methods used and how these methods impact the sales approach Recommendations for how Prime Apparel can evaluate business research and analytics to support planning and decision-making An explanation of how the marketing strategy impacts sales decisions, including how the sales teams need to communicate these decisions and information  

Sample Solution

 

The Effectiveness of Business Communications in Relation to the Sales of Backpacks at Prime Apparel

By Bard

Slide 2: Introduction

Good morning, everyone. I'm Bard, a market research analyst at Prime Apparel. I'm here today to talk to you about the effectiveness of business communications in relation to the sales of backpacks.

Slide 3: Summary of the marketing strategy

The marketing strategy for backpacks at Prime Apparel is focused on three main areas: product, price, and place.

  • Product: The backpacks are high-quality, stylish, and functional. They are also competitively priced.
  • Price: The backpacks are priced at a premium, but they are still affordable for most consumers.
  • Place: The backpacks are sold through a variety of channels, including Prime Apparel's website, brick-and-mortar stores, and third-party retailers.

Slide 4: Evaluation of 2 communications methods

Full Answer Section

   

The two main communications methods used to promote the backpacks are advertising and public relations.

  • Advertising: Prime Apparel has run a series of print and online ads for the backpacks. The ads have been effective in raising awareness of the product and generating interest.
  • Public relations: Prime Apparel has also secured a number of positive press mentions for the backpacks. These mentions have helped to build credibility and trust for the brand.

Slide 5: Recommendations for evaluating business research and analytics

Prime Apparel can evaluate business research and analytics in a number of ways, including:

  • Conducting surveys and focus groups: This can help to get feedback from customers about the product, price, and place.
  • Analyzing sales data: This can help to track sales trends and identify areas for improvement.
  • Benchmarking against competitors: This can help to see how Prime Apparel is performing compared to other companies in the industry.

Slide 6: Explanation of how the marketing strategy impacts sales decisions

The marketing strategy for backpacks at Prime Apparel impacts sales decisions in a number of ways, including:

  • Product: The product decisions are based on the target market, the competition, and the company's goals.
  • Price: The price decisions are based on the cost of production, the target market, and the competition.
  • Place: The place decisions are based on the target market, the competition, and the company's distribution channels.

Slide 7: How the sales teams need to communicate these decisions and information

The sales teams need to communicate the marketing strategy to customers in a clear and concise way. They also need to be able to answer customer questions about the product, price, and place.

Slide 8: Conclusion

The marketing strategy for backpacks at Prime Apparel is effective in reaching the target market and generating sales. The business communications methods used to promote the backpacks are also effective. Prime Apparel can continue to improve the marketing strategy by evaluating business research and analytics and by communicating the strategy to the sales teams.

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