MKT 3013 Assignment 1 - Principles of Marketing

Principles of Marketing

(MKT 3013)

Written Assignment-1

Please carefully review and follow these instructions.

• Page Length: 3-5 pages, single-spaced (including any charts; excluding cover page and bibliography/references page). A chart should not take-up more than half a page. Minimum 3 pages required.

• A minimum of 10 unique research references required. References should be listed on the last page.

• The cover page must list the topic (e.g., Written Assignment-1) and the student’s name.

• Please embed any relevant charts/figures in the body of the paper and not in an appendix.

• Use figure numbers and titles. Please make sure that the chart/figure is legible. This only applies if you include any charts.

• Use page numbers.

• Students are required to meet the content-match threshold of 20% match or less (see syllabus for details). The plagiarism tool (SafeAssign) is already integrated in Blackboard and it will show the match percentage after the paper is uploaded. Sometimes the application may take a little time to process the score. If that happens, you should log out of Blackboard and log back in a short while later. Please avoid using direct quotes from the research sources. The write-up MUST be in your words/your own work. Papers exceeding the 20% content-match threshold will be assessed a penalty.

• Only one submission is allowed per student.

• Please answer each question separately (see answer format instructions). You can simply list question number and then type your answer. You do not need to restate the entire question.

• Please use additional research (beyond what is provided with the assignment) to support your answers.

• Late submissions not allowed/will not be accepted.

• Due date extensions and or make-ups not available, therefore, please plan ahead and submit the work within the above-listed due date.

This activity relates to material covered in Chapters 1, 2, and 5. Please leverage relevant information from various modules as well as the textbook to help you develop answers to activity questions. This activity focuses on online used-vehicle seller Vroom. “Vroom is an innovative, end-to-end ecommerce platform designed to offer a better way to buy and a better way to sell used vehicles. The company's scalable, data-driven technology brings all phases of the vehicle buying and selling process to consumers wherever they are and offers an extensive selection of vehicles, transparent pricing, competitive financing, and at-home pick-up and delivery. Vroom is based in New York and Houston and also operates the Texas Direct Auto brand.” (Source: Vroom) Related URLs:

1. Vroom 2. Vroom Investor Relations 3. CarMax 4. Carvana 5. Fortune Article 6. McKinsey – Used Car Market Article 7. Bloomberg Businessweek Article

In addition to the above URLs, you must conduct additional research to develop a deeper understanding of the trends in the used/pre-owned vehicle market. Use additional research to support your answers for each of the questions listed below. Please do not pay for any research rather use only free online resources. If any of the above sites ask for payment, please use a different source. The above list is provided for directional guidance and you are not required to use only these research sources.

Q.1. List and briefly explain 5 strengths (or competitive advantages) and 5 weaknesses for Vroom. Use research to support your answer. (20 points)

 Hint: Strengths and weaknesses are internal to the organization and are relative to others in the marketplace.

https://www.vroom.com/

https://ir.vroom.com/

https://www.carmax.com/

https://www.carvana.com/

https://fortune.com/2021/11/01/used-car-prices-high-carmax-2021/

https://www.mckinsey.com/industries/automotive-and-assembly/our-insights/used-cars-new-platforms-accelerating-sales-in-a-digitally-disrupted-market

https://www.bloomberg.com/news/articles/2021-09-28/used-car-sales-vroom-carvana-shift-thrive-during-pandemic

Answer Format: Use headings and sub-headings for each part. For instance, the main heading could be Strengths, followed by a sub-heading for each strength (e.g, Strength 1). Use the same format for weaknesses.

Q.2. List and explain how the following macro-environmental forces are affecting the used vehicle industry. (20 points)

a) social/cultural b) competition c) economic d) technology e) political/legal Answer Format: Use separate headings for each of the 5 factors followed by brief paragraph(s).

Q.3. Based on the chart below, identify which strategy or strategies would you recommend the company undertake over the next 12-24 months and why? (10 points)

Answer Format: Use a heading to label the strategy followed by an explanation. You do not have to create the chart, rather select the relevant strategy/strategies. Chart 1: Growth Strategies