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Hi this is a team assignment, my part is just question # 5. Please see attached outline word document.
Resource: Consumer Behavior: Building Marketing Strategy, Ch. 3
Select a new product or service that will be launched by either an existing organization or one you will create. This will be the product or service you will use for the remainder of the team assignments due in Weeks 4 and 5. (The team chose Versacart )
Obtain your instructor’s approval of your team’s product or service before beginning this project.
Develop a 700- to 1,050-word analysis explaining the following headings: (my part from this assignment is just # 5
- 1. Describe the organization’s background, industry, and product or service.
- 2. Describe in detail the product or service in detail.
- 3. Choose a value listed on Figure 3-1 (p. 79) that you feel is most applicable to the marketing of your new product/service. Describe the marketing implication of your new product/service of this value.
- 4. Given the projected changes in America’s demographics, which demographic shifts, if any, do you feel will have a noticeable impact on the marketing for your new product/service in the next 10 years?
- 5. Describe reference groups that would be influential to an individual making the decision to purchase the new product/service. What marketing strategies will you implement based on these reference group influences? (Only this part is to be answered) (use in-text citation according to the reference you used to answer this question)
Include at least three sources of research that support your analysis; at least one must be the textbook, one from the University Library, and one piece of secondary research.
Format your assignment consistent with APA guidelines.