Discuss why implementing the environment analysis is a critical task to the firm in an attempt to understand and identify customer needs and wants

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    Instructions:

    1.    Check to see if there are 2 essay questions.

    2.    Write down your name and student ID number on this test form below.

    3.    Compose your answers on the space next to each question using WORD program.

    4.    When you are done, submit your saved WORD file, along with the answers, into the Dropbox “Exam #2” of D2L before 11:0pm on March 14, 2014 (Friday). If the WORD file is submitted after 11:30pm, there will be a severe penalty on your grade. Check your grade on D2L later.

    Student name and ID: __________________________________________________

    Essay Questions (80 Points in Total):

    Direction: Read HBR case called “The Fashion Channel” carefully—along with the details in the tables—and answer two essay questions given. For each question, provide long-detailed and creative answers. If necessary, you may provide some relevant examples to clarify the answers.

    1.    This question is about environment analysis. Regarding the environmental analysis, answer two following questions. (40 points)

    1)    Discuss why implementing the environment analysis is a critical task to the firm in an attempt to understand and identify customer needs and wants. (10 points)

    2)    Identify a list of major trends occurring in the fashion industry as the case suggests and choose one marketing idea after implementing your 5C situation analysis. Show your entire 5C situation analysis process. (30 points)

    2.    This question is about segmentation and targeting analysis. Regarding the spirit of STP approach, answer two following questions. (40 points)

    1)    Construct your market structure map of your identified marketing idea from the previous question. The market structure map indicate the number of segments, major needs of each segment, major competitors, and average profile of each segment. For the segmentation purpose, you can use any information in the case such as the figure in the table. (20 points)

    2)    Conduct your market-attractiveness and competitive-position targeting analysis for identify a target segment. As we practiced in the class, show your entire targeting process. (20 points)

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