2nd 3 Assignment

 

5.1 Discussion: Devotional – Planning

 

Getting Started

Planning: Our Part of God’s Part?

Managers spend large parts of their lives planning and controlling, two of the four functions according to management theory. Yet we are told on Sunday and in our Bible study that God is in control and we should turn it all over to Him. Woody Allen is quoted as saying, “If you want to hear God laugh, tell him about your plans.” This makes us laugh until we realize how much time we spend making plans in our business and personal life. Is all that time wasted?

Upon successful completion of this discussion, you will be able to:

• Develop a biblical framework to resolve ethical dilemmas in marketing strategies and tactics.

Resources

• Bible (New International Version)

Background Information

• “All right,” the Lord said to Satan, “everything he has is in your power, but you must not hurt Job himself.” (Job 1:12, NIV)
• “For I know the plans I have for you,” declares the Lord, “plans to prosper you and not to harm you, plans to give you hope and a future.” (Jeremiah 29:11, NIV)

Instructions

3. Review the rubric to make sure you understand the criteria for earning your grade.
4. We are asked by our supervisors, peers, and work team to develop plans for success. We invest significant time and energy in finding and reviewing data, and manipulating spreadsheets and charts and graphs to forecast the future so we think we know what will happen. This course and many others train you on how to perform those analyses.
5. The course author was once managing a sales team and asked a common question to one of its members, “How much will you sell next year?” The man, an openly devout Christian, quickly responded, “Whatever God brings to me.” While the author did not disagree that it could happen, he responded back, “OK but God expects you to do your part, so how much are you going to try to sell?” The salesperson was not prepared for that question and walked away with a strange look on his face.
6. In this module, you submit the revised final draft of your internal and external marketing environments report. That report will – or should – include significant analysis of external elements, factors, and pressures that are outside of your client’s control but may have a substantial impact on their plans. We say that analysis is art and science, that science is finding the numbers and art is interpreting them. If there is so much that we cannot control, and we believe that God is in control, can we expect our plans to be valid? We see in the Book of Job that God’s faithful servant lost it all through a series of unexpected and unforeseen events including two natural disasters (lightning and wind). In a few hours, these two unpredictable and indefensible calamities and two attacks by enemies erased all of Job’s success after many years of planning and implementation. Then we are told in Jeremiah that God has good plans for us, almost suggesting that since He has plans for us, we don’t need any plans, that it’s already taken care of.
7. You identified a company or industry of interest to use in your degree program. Consider these questions and post your thoughts on them:

   How much can and should a company in your industry of interest plan or how much should it’s management team rely on letting God do it all?
   What are some unpredictable and indefensible calamities that might affect your industry of interest?
   How is it our responsibility as a manager or leader in that industry of interest to do everything we can to plan when external events beyond our control can have such a significant negative impact on our plans?

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5.2 Discussion: Research-based Peer Alternative Response to 4.3

 

marketing plan. While data is objective, analysis and interpretation of data are influenced by experience, preference, perspective, and risk tolerance. This is why strategy is often referred to as both an art and a science, and why a team can come up with a better solution than one person working alone. The science is finding data and calculating results; the art is looking at the data, understanding what it means today, and forecasting what it will mean tomorrow.

Since the client may view the data differently from the writer, it is helpful for the original writer to be aware of and prepared for alternative interpretations. You as the peer reviewer will be the one who prepares the writer for those alternative interpretations that could be asked by the client during the presentation of the report. You are therefore helping your peer prepare for questions and concerns that he or she might have missed or might have interpreted to be of a different level of impact.

Your role as a peer reviewer is to objectively examine the same category but to come up with a different interpretation of the data and/or a different recommendation. This means you will need to do your own research on the category to understand it well enough to provide an analysis and recommendation. Your solution must be based on your sources which will not be the same as the original writer. As a peer reviewer who must present an alternative interpretation and/or recommendation, you push and prompt the other person to reconsider his or her decision based on a different objective analysis. This allows the original writer to strengthen the proposal before the client sees it.

Upon successful completion of this discussion, you will be able to:

• Analyze the effectiveness of emerging promotional strategies.

Resources

• Textbook: The 30 Day MBA in Marketing: Your Fast Track Guide to Business Success, Ch. 6-7, pp. 115-150
• Textbook: Value-based Marketing Strategy: Pricing and Costs for Relationship, Ch. 4
• Textbook: Setting Profitable Prices: A Step-By-Step Guide to Pricing Strategy-Without Hiring a Consultant, Ch. 1-7, pp. 3-51
• File: Market Analysis Report Template

Instructions

Review the rubric to make sure you understand the criteria for earning your grade.
1. Review the pricing, promotion, and distribution report from your peer as submitted to the 4.3 Discussion.
2. You will need to do appropriate research on the industry and category so that you understand them in order to make an educated analysis and recommendation for this section of the consultant’s report. It is important to start out with a thorough understanding of the category and industry. You should not rely on the original writer’s research and description of the industry.
3. You will provide a 250- to 350-word review to your peer as a post in the discussion forum. Your review must provide a different or alternative perspective, interpretation, conclusion, and/or recommendation for at least one (1) of the six (6) elements noted in the assignment (these should be the 6 titled sections from the Market Analysis Report Template), based on your personal objective analysis of the category using credible sources. You do not need to have an alternative for all six elements of the assignment, but your alternative may involve more than one element since many of them are related.
4. You will not discuss the original writer’s analysis or recommendation; all of your comments must be focused on your objective interpretation and analysis. You must have a distinctly different perspective and/or recommendation in your alternative response. In other words, you are looking at the same scenario in the same industry and/or category, but you are coming to a different conclusion such that any form of “I agree” in your review is not an option.
5. You must cite at least two credible sources that were not used by the original writer to support your interpretation and recommendation.
6. Cite your work per current APA standards, however, indenting of the references is not required due to the discussion board format.  (See OCLS APA Writing Styles Guides)
7. Post your initial proposal into the discussion forum as a post, not as an attached file.
8. Your grading is based in large part on your critical thinking as demonstrated in providing a different interpretation, conclusion, and recommendation. Because your peer is expecting this assistance on time to improve his or her report, late peer postings will have a penalty of 10% per day (6.5 points) for up to 5 days and may not be submitted for points after 5 days. This late penalty cannot be waived by the instructor.

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5.3 Assignment: Research-based Marketing Plan

Revised Final Proposal – Internal and External Marketing Environments

 
Getting Started
Revised Final Proposal – Internal and External Marketing Environments

The process of peer review strengthens a presentation by having another qualified person analyze the same data and then review your work. You have written and revised a product differentiation and positioning section (submitted in 3.4), and a product development and market demand section (submitted in 4.4). You will now strengthen your initial report on internal and external marketing environments by integrating the alternative from your peer (received in 4.2) into your revised final draft that will be submitted to the client.

Upon successful completion of this assignment, you will be able to:

• Assess the market structure and internal and external marketing environments to determine the crucial factors influencing the marketing strategy.

Resources

• Textbook: The 30 Day MBA in Marketing: Your Fast Track Guide to Business Success, Ch. 9, pp. 175-192
• Textbook: Developing Successful Marketing Strategies, Ch. 6
• Textbook: Value-based Marketing Strategy: Pricing and Costs for Relationship, Ch. 1; Ch. 3, Section 3

File: Market Analysis Report Template

Instructions

Review the rubric to make sure you understand the criteria for earning your grade.
1. This is your revised final draft of the internal and external marketing environments section of your consultant’s report. It is based on what you posted in 3.3 and on your peer’s comments and response posted in 4.2.
2. Your revised final report must integrate your peer’s alternative analysis or recommendation as an alternative perspective as part of your final report. You must either accept your peer’s perspective as a replacement to your initial proposal based on adequate credible theory and current marketing practice to accept it or you must provide adequate credible theory and current marketing practice to reject it. If you accept it as the correct analysis or recommendation, then the peer alternative will become the primary focus of your final paper, and your original analysis and/or recommendation will be noted as an alternative perspective that you have rebutted through cited research. If you do not accept the alternative, then you only need to discuss it as an alternative and provide objective and qualified reasons to reject it.
3. Use the titles from the Market Analysis Report Template to create four sections for this part of the consultant’s report:

   Porter’s five forces model
   Other macroenvironmental external factors
   Required Internal Resources and Competencies to Compete in the Market
   Required Licenses, Patents, and Rulings or Legal Requirements to Compete in the Market

4. The body of your paper (i.e. excluding title page, graphics, appendices, and references page) must be 1300 words (+/- 50 words). In the event that your peer did not provide feedback, your length must be 1000 words (+/- 0 words) and you will not be penalized for not including the missing feedback.
5. You must use, cite, and reference at least five credible sources not provided in the course documents, plus at least one source provided in the course documents.
6. Your paper must be submitted as a Word document.
7. Your paper must be formatted to current APA standards including title page, body of the paper, citations, headings, graphics, appendices, and references page.  (See OCLS APA Writing Styles Guides)

PLEASE PEER REVIEW THIS

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pricing, Promotion, and Distribution Channels

Analysis of Current Pricing Models in the Market

Lyft

            According to Table 1.1 below, Lyft charges a service fee, a fee per minute, a fee per mile, and a minimum fare (Helling, 2020). Although Lyft charges all these fees, customers should tip their drivers as well. The average tip to a Lyft driver is 20% (Helling, 2018). When referencing a trip of 20 miles at 40 miles per hour, the total time would be 18.5 minutes. Taking all the fees and tip into account, the total cost of the trip via a standard Lyft vehicle would be $.9 base fare + (

$1.90

*18.5 minutes) + ($.09 * 20 miles) + 20% tip = $45.42. Lyft’s fare rates are fairly constant. However, Lyft also utilizes the dynamic pricing model (Didur, 2018).

Table 1.1 – Average Lyft fare

$0.90

$1.90

$1.50

$3.50

$3.50

$1.90

Initial Cost	Service Fee	Per Minute	Per Mile	Minimum Fare
Lyft		$0.90			$1.90	$0.09			$3.50
Lyft Plus		$1.50	$0.18
Lyft Lux	$0.30	$2.05	$10.00

 

During Prime Time, Lyft increases ride prices by 200% and reduces ride prices by up to 50% during Happy Hour (Didur, 2018). This dynamic pricing ensures that Lyft has the right number of drivers at the right time. Another company that practices the dynamic pricing model is another top direct competitor: Uber (Jensen, 2013).

Uber

            Unlike Lyft, Uber does not have a broad average base fare for its ridesharing services. According to Table 1.2 below, Uber offers its services at different prices across the United States (“How much,” 2016). Along with the base fare, fare per minute, and fare per mile, Uber also charges a $1 fee for its drivers’ background check (Hetting et al., 2020). A scenario used to compare Lyft and Uber’s rates will use a trip in Austin, Texas (“How much,” 2016). The trip will be 20 miles at 40 miles per hour, and the total time will be 18.5 minutes. Taking all the fees into account, the total cost of the trip via a standard Uber vehicle would be $1 base fare + ($.18*18.5 minutes) + ($1.10*20 miles) + $1 background check + 20% tip = $32.796. This trip would be less than the Lyft trip, but the same trip in NYC would cost $65.28.

Table 1.2 – Average Uber fare per city

            Along with Uber’s dynamic pricing approach per city, Uber also increases prices during significant events, Friday and Saturday nights, and after-work rush hour (Netherlands, 2019). Uber is usually less expensive than traditional taxis. However, due to the surge pricing model, Uber can be more costly than its competitor: Taxicab (“How much,” 2016).

Taxicab

            Like its competitor Uber, taxicab also uses a dynamic pricing approach per city (Howmuchisit.org Staff, 2018). However, the taxicabs pricing structure is a bit different from Lyft and Uber. Some towns charge per minute, whereas some cities charge per mile (Howmuchisit.org Staff, 2018). Taxicab’s rates are much higher than Lyft and Uber’s at .5-$3 per minute and $1-$3 per mile. Taxicab can also charge various fees such as $15 to $40 to wait per hour, $5-15 for pick-up from specific locations, a premium surcharge of 20-40% for various hours of the day, and fuel surcharge of $2-$5 (Howmuchisit.org Staff, 2020). To compare, a 20-mile at $2 per mile with a $10 pickup fee, $3 fuel surcharge, and a 15% tip, the trip’s cost would be $60.95.

Analysis of Current Promotional Models in the Market

Lyft

            Lyft promotes its business primarily through Google Display and large job boards and has roughly spent $914,000 in six months (Nickel, n.d.). Lyft appeals to its audience by creating ads that focus directly on specific geographic regions with various income potentials (Nickel, n.d.). After clicking on Lyft’s links, viewers are routed to Lyft’s homepage to apply online to be a driver (Nickel, n.d.). Although Lyft is doing a great job at advertising and gaining market share, Uber remains one step above Lyft.

Uber

            Uber promotes its business on various sites such as Google Display, MediaMath, and Advertising.com (Nickel, n.d.). Uber is also more aggressive than Lyft by spending roughly $1.3 million in the past three months on advertising (Nickel, n.d.). Uber is like Lyft by posting its ads to job boards; however, Uber also publishes to other sites (Nickel, n.d.). Uber’s links take viewers to three different sites to test various advertising phrases (Nickel, n.d).

            Neither Uber nor Lyft spends much on advertising to the public. However, taxicab advertises directly to the public and gets paid to do so.

Taxicab

            Taxicab not only drives customers to and from destinations but also makes money advertising in the process. Cabs help businesses display their products and services directly to the public in real-time by displaying decals (“How does,” 2020).

Analysis of Current Distribution Models in the Market

Lyft currently operates in 321 cities between the United States and Canada (“Lyft Cities,” n.d.). Uber currently operates in 10,000 + cities between 70 countries (“Uber cities,” n.d.). Taxis operate in most major cities in the United States. All three competitors of JGJ, Inc. have vastly different distribution models.

Recommended Pricing Strategy for JGJ, Inc.

            The recommended pricing strategy for JGJ, Inc. is to charge slightly lower base fare rates and fees than our rivals. The average rate for JGJ, Inc. is below in Table 1.3. A 20-mile trip at 18.5 minutes without a waiting fee would cost $0.75 base fare + ($.15*20) + ($1.25*18.5) + 20% tip = $32.25.

Table 1.3 – JGJ, Inc. average rate

            JGJ, Inc. is not priced drastically lower than its competitors due to the partnership with Medicare. However, JGJ, Inc. needs to be positioned just below its competitor’s pricing due to pursuing additional market share besides the Medicare population.

Recommended Promotional Strategy for JGJ Inc.

            AARP and the Medicare website will be JGJ, Inc.’s home sites for advertising. This is where the elderly population goes for important information. Along with this, JGJ, Inc., and Medicare can work on including the partnership in Medicare’s newsletter and fliers that are sent out to Medicare’s clients to promote the new ride-share service specifically tailored to suit their needs.

            JGJ, Inc. will also use Indeed, Monster, and other job boards to find drivers. JGJ, Inc. will offer drivers $500 sign-on bonuses after being a driver for one year with their company. JGJ, Inc. should also pursue a partnership with TikTok and Facebook to advertise hiring events.

Recommended Distribution Strategy for JGJ Inc.

            The recommended distribution strategy for JGJ, Inc. is to operate in cities larger than 35,000 citizens in the United States. If drivers are interested in working in a city with a smaller population size, special job assignments can made.

 

 

 

 

 

 

 

References

Didur, I. (29 May 2018). Dynamic pricing algorithms on Uber and Lyft. DataRoot Labs. datarootlabs.com/blog/uber-lift-gett-surge-pricing-algorithms.

Helling, B. (12 Dec. 2018). Lyft tipping guide – should you tip your Lyft driver? Gigworker.com. gigworker.com/lyft-tipping-guide/#:~:text=Most%20Lyft%20rides%20cost%20less%20than%20$10,%20so,of%20water,%20or%20provided%20snacks%20along%20the%20ride.

Helling, B. (3 Dec. 2020). Lyft estimate cost: How to get an accurate Lyft estimate for your next ride. Ridester.com. www.ridester.com/lyft-estimate-fare-calculator/.

Helling, Brett, et al. (3 Dec. 2020). How much does Uber cost? – A comprehensive guide. Ridester.com. www.ridester.com/uber-rates-cost/.

How does taxi advertising work? (25 Mar. 2020). Taxiadvertising.com. taxiadvertising.com/blog/taxi-advertising-process/.

How much does Uber cost? (16 Sep. 2016). TechBoomers.com. techboomers.com/t/uber-cost#:~:text=On%20average,%20an%20Uber%20fare%20costs%20$24%20U.S.,How%20much%20does%20an%20UberX%20cost,%20on%20average?

Howmuchisit.org Staff. (15 Aug. 2020). How much does a taxi cost? howmuchisit.org howmuchisit.org/how-much-does-a-taxi-cost/.

Jensen, M. (2013). Setting profitable prices: A step-by-step guide to pricing strategy–without hiring a consultant. John Wiley & Sons, Incorporated. 

https://ebookcentral.proquest.com/lib/indwes/detail.action?docID=1119804

Lyft Cities. (n.d.). Lyft Estimate. lyftrideestimate.com/cities.

Netherlands. (6 June 2019). How Uber’s dynamic pricing works. Uber Blog. www.uber.com/en-NL/blog/how-ubers-dynamic-pricing-model-works/.

Nickel, B. (n.d). How Uber and Lyft run their paid traffic campaigns. Adbeat. blog.adbeat.com/uber-lyft/.

Uber cities in and around the world. (n.d). Uber. www.uber.com/global/en/cities/.

 
 
 

USE THE YELLOW HIGHLIGHTED REVIEW TO UPDATE THE ONES HIGHLIGHTED IN BLUE

Required Licenses, Patents, and Rulings or Legal Requirements to Compete in the Market

 

           For JGJ, Inc. owners to not be at risk when opening their doors from lawsuits, it is recommended that JGJ, Inc. complete the process for licensing as an LLC (“How to Start,” 2020). Once this is complete, JGJ, Inc. also needs to register the company to pay taxes, obtain an employer identification number, and register for unemployment and workers’ compensation (“Do I need,” 2020). JGJ, Inc. should also consider applying for a resale certificate for purchasing the raw materials for their products (“How to get,” 2020). Along with licenses, JGJ, Inc. must look into patents. 

            JGJ, Inc. is highly encouraged to submit patents for every product that is invented. Patents are designed to protect the investment of research and development for each product (Kenton, 2020). Without the patent, JGJ, Inc. puts itself at a greater risk for threats of substitutes than the company is already projected to be. JGJ, Inc.’s top rival Amazon has 2,504 patents (Coppola, 2020). Given that Amazon has so many patents, JGJ, Inc. must perform additional research of their soon to be rivals to avoid any copyright infringement lawsuits. Copyright infringement laws are not the only lawsuits JGJ, Inc. should be concerned with, JGJ, Inc. must also follow legal requirements per various states and countries.

            Currently South Korea is the only country that has legal requirements when producing robots (Regulatory Institute, 2017). However, there are a few ISO standards that have been created that cover the topics of safety and vocabulary for various robot types (Regulatory Institute, 2017). JGJ, Inc. needs to be aware of new legal requirements year after year, which is one of the other reasons why a legal department is necessary. JGJ, Inc. needs to be a frontrunner in terms of robotic safety to avoid any major issues in the future as new laws and regulations are created.

References

Coppola, D. (26 Nov. 2020). Number of U.S. patents registered by Amazon 2019. Statista, 26. Retrieved from www.statista.com/statistics/897773/amazon-patents-usa-registered/.

Do I need a business license? (24 Dec. 2020). StartingYourBusiness.com. Retrieved from startingyourbusiness.com/do-i-need-a-business-license/.

How to get a resale certificate. (30 Oct. 2020). StartingYourBusiness.com. Retrieved from startingyourbusiness.com/how-to-get-a-resale-certificate/.

How to start a robotics company. (11 Aug. 2020). TRUiC. Retrieved form howtostartanllc.com/business-ideas/robotics.

Kenton, W. (22 Apr. 2020). How patents work and notable patents that changed how we live. Investopedia. Retrieved from 

www.investopedia.com/terms/p/patent.asp

.

Regulatory Institute. (17 Apr. 2017). Robots: No regulatory race against the machine yet. How to Regulate? Retrieved from www.howtoregulate.org/robots-regulators-active/.

BEFORE YOU WORK ON THIS ONES THAT IS HIGHLIGHTED IN BLUE- PLEASE READ AND UNDERSTAND THE PEER REVIWED THAT IS HIGHLIGHTED IN YELLOW ABOVE. YOU WILL USE IT TO ANSWER THIS ONE BELOW

Internal and External Marketing Environments

Introduction

This paper examines the internal and external marketing environments that JGJ Inc. will encounter if it decides to enter the market. Therefore, the paper analyzes the market’s significant aspects through Porter’s five forces and examines the major external factors. Lastly, the paper examines the aspect of Licenses as well as legal requirements.

 

Analysis of Key External Factors in the Market

· Porter’s five forces model

This refers to the provision of the account of the competitive rivalry. It is essential to help the organization comprehend the various competitive forces, enabling JGJ Inc to maximize its profitability. The five forces this paper is considering include:

The intensity of rivalry:

There is robust competition in this industry. Because this industry is considered futuristic, they will likely gain the right margin because many individuals and other companies have invested in the company. Additionally, the amount of money that is invested in the also contribute and strengthen the rivalry. This paper recommends that JGJ Inc. should focus on producing quality goods and services with different new features.  This paper recognizes that the price point should be considered essential (Miller, Vandome, & John, 2011).

Threats of new entrants

This is a force in this industry; however, this force in the industry is medium. There is high capital invasiveness in the industry; this calls for intensive innovations, which will help achieve a competitive advantage in the market to be on top of the already existing companies. It is essential to understand that the higher the barriers to entry, the less the beginners or the startup will likely venture into the industry, as they will be discouraged by the barriers. This is precisely what happens in this industry; there are many barriers to new entrants. Moreover, according to analysis, for instance, distribution cost, among others, also play a significant role as far as barriers to new entry are concerned (Miller, Vandome, & John, 2011).

Threat of substitutes

The analysis indicates a very high risk of the alternatives for the f JGJ Inc’s. In this case, the business has to substitute a robot to make human life more comfortable, and human resources can most certainly replace it. Various machines are already in place, and this offers a significant barrier towards raising risks.

Bargaining power of the buyer

Generally, as far as the business is concerned, the customer’s bargaining power is high considering that the industry is niche. This means that customers can define the sales’ scope. Customers have very high bargaining power in this industry.

Bargaining power of suppliers

The suppliers’ bargaining power is not very significant in the business, considering that most of the products are hardware. However, other aspects may also play a part in regulating the forces’ part (Walder, 2017). The summary of Porter’s five rules is provided below:

· Other macroenvironmental external factors

They refer to the external factors that JGJ Inc. cannot control. Even though the company is not in control of the factors, the company needs to strategize itself so that these external factors may favor its operations. These external factors include:

 Political factor

This considers various changes in the industry’s policy, trade policy, for instance, the current steel tariffs. Moreover, the various regulations incorporating safety are among the political factors (Cordell & Thompson, 2018).

 

Economic factors

Various economic factors have to be put into consideration when JGJ Inc. when deciding to enter this market. Such factors may include the Market boom, the inflation period, the rate of unemployment, recession, the interest rate, and the foreign exchange rate, among others (Cordell & Thompson, 2018).

 

Social Factors

The various social factors that JGJ Inc. will face if it decides to enter this market include the population’s demographics, which constitute age, level of income, preference, etc.

Technological Factors

This considers the various advances in technology that might directly influence the Machinery, software, and computers used to ease business operations (Cordell & Thompson, 2018).

Required Internal Resources and Competencies to Compete in the Market

JGJ Inc. has vast capital, and this is advantageous because it will enable to invest in a manner that will follow the standard industry methods; this could also enable the company to set up different business departments across the company, for instance,

· Management department

· Finance department

· Sales

department

· Operations

department

· Legal department

· Development department

The departments will be able to work effectively once they process-specific resources such as:

· Infrastructure

· Technology

· Service

· Operations
· Sales

· Logistics

· Reputation

· Financial

· Wellness

· Workforce

· Consistency

· Reliability  

Required Licenses, Patents, and Rulings or Legal Requirements to Compete in the Market

Regulations refer to the deliberate attempt of influencing people’s behavior. It’s clear from the company’s analysis that robots are not the target for regulating the regulatory intervention I am concerned about. However, they may be incorporated in the process of design, building, and various work. In this case, the ‘robotics regulation’ shows that the regulation is meant to influence people’s behavior as far as developments in the robotics field is concerned (Godbey, 2014).  

People’s behavior may be influenced by the law as well as other intentional mechanisms. Generally, the law, market, social norms, and architecture are the behavior influencing factors in this case. Therefore, it is essential to delve into different regulatory dilemmas which the company may probably face if it decides to enter the market; these dilemmas ought to be addressed as far as consideration of different types of regulatory intervention is concerned and that which is demonstrated by various issues which are as a result of the robotics regulation as well as applications.

The first regulatory dilemma related to technology regulation is the strategy of keeping up with advances in technology. The advances in technology might result in gaps, resulting in undesirable conflicts and demand for the changes. Therefore, the actual dilemma, in this case, involves “technology-neutrality versus legal certainty.” This constitutes the negative impacts of technology, which ought to be regulated.

The emerging technologies also lead to another technological related-dilemma. Premature and obtrusive legislation may hinder scientific advancement while preventing the possible advantages, which might result in various economic inefficiencies. On the same note, when there is no reliable and secure legal environment, technological innovation is likely to be hindered (Godbey, 2014).

 
 
 
 
 
 
 
 
 
 
 

 

References

Cordell, A., & Thompson, I. (2018). Macroenvironmental analysis (Steeple). The Category Management Handbook, 69-71. doi:10.4324/9781351239585-19

Godbey, W. (2014). Patents and licenses. An Introduction to Biotechnology, 393-402. doi:10.1016/b978-1-907568-28-2.00019-8

Miller, F. P., Vandome, A. F., & John, M. (2011). Porter five forces analysis. Alphascript Publishing.

Walder, J. (2017). A critical evaluation of Michael Porter’s Five Forces framework. Createspace Independent Publishing Platform.

Market Analysis Report: Name of Market

Industry Name

Your Name

Class Number

Date

(NOTE: The title page will be included with each section of your paper to identify the author to the instructor.)

Market Analysis Report: Name of Market

Executive Summary

(Note: this appears first but is written last in workshop 6; 300 words)

Positioning and Differentiation

Definition of Positioning (100 words)

Brief (one paragraph) description of the market (100-150 words)

Analysis of Current Positioning in the Market

· Current annual sales volume in dollars and/or units sold in the market

· Current competitors and their offerings, including points of differentiation for each offering indicating how they are positioned to each other in the market

· Current price points of competitors

Projections for the Market

· Projected overall market growth rate for the next five years

· Projected changes to overall pricing in the market for the next five years

Recommended Position for JGJ Inc.

· Recommended position and points of differentiation for the JGJ Inc. offering

· Complete buyer profile of the target customer

References

Product Development and Market Demand

Product Development

· Key differentiating characteristics of the offering

· Analysis of demand in the market

Market Segment Demand

· Quantitative data used to determine projected demand

· Methodology used to determine demand

References

Internal and External Marketing Environments

Analysis of Key External Factors in the Market

· Porter’s five forces model

· Other macroenvironmental external factors

Required Internal Resources and Competencies to Compete in the Market

Required Licenses, Patents, and Rulings or Legal Requirements to Compete in the Market

References

Pricing, Promotion, and Distribution Channels

Analysis of Current Pricing Models in the Market

Analysis of Current Promotional Models in the Market

Analysis of Current Distribution Models in the Market

Recommended Pricing Strategy for JGJ Inc.

Recommended Promotional Strategy for JGJ Inc.

Recommended Distribution Strategy for JGJ Inc.

References

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