Assignment and Reflection about Principles of Marketing

MKTG 3723 – Penghao Wang

Write Up 2

For this project, you will do write-up throughout the semester.

You will find an article in a recent edition of Bloomberg Business week. It should be something that you find interesting. Then, you’ll analyze the content and put together a short (approximately one page, no more than 2 pages) write-up in which you report your analysis.

Each write-up should include:

Basic information: ∂ The date of publication: March 14, 2018 ∂ The title and author of the article : Having Trouble Marketing to Millennials? Invent a New

Generation. Author: Jennifer Kaplan ∂ Page numbers on which the article can be found: (please find below link)

https://www.bloomberg.com/news/articles/2018-03-14/beermaker-bets-on-new-marketing-tactic- inventing-a-generation

∂ A (brief) summary of the article: The article is about a beer manufacturing company known as MillerCoors introducing a new product line in the market with a specific target market. In particular, it targeting a generation that would ordinarily be categorized under millennials. The target is people born between 1993 to 1997. This is a group that would want to try out new things but do not have a lot of money. This is why the company said the tagline for the beer is “Good, cheap bear. Wait what?”

Analysis:

∂ How does this article relate to what we ’ve discussed in class? Why would a marketing professional be interested in the article, and how would they apply it to the marketing decisions they make? Be sure to use course terms. Part of your grade will include how well and correctly you use course terms when discussing your article.

This article related to what have been discussed in class as it focuses on market segmentation and targeting. Showing how the beer company has identified a target group through engaging in demographic and psychographic segmentation. Marketing professionals should be interested in the article as it discusses the issue of market segmentation and target, and how businesses can position their products in the market. MillerCoors, the beer manufacturing has been able to do market segmentation through identifying a group of people sharing characteristics that cause the to have similar product need, with the product being cheap beer.

MKTG 3723 – Penghao Wang

∂ Why do you think this article was published in this magazine? Consider how it connects to the broader business world. If your major is not marketing, it may be helpful to consider what value someone in your major would get from the article if they were to read it.

This article was published in the magazine as it discusses an aspect of business marketing that can help business achieve market share and increase revenues. Marketing is a key area in business as it can determine the success of a company. Segmentation, target, and position are issues in marketing that affects the success of a marketing campaign. This article can be of use to a business that is having a problem with identifying a target group that best suit their product line.