BSL 4080 Unit IV Assessment

Assume you are in an organization that is experiencing difficulty competing with others within a particular industry as a result of the entry of several new competitors into the market. You have been tasked by the organization’s leader with developing a creative marketing solution. Utilize deductive arguments to support the proposed solution. The response should include one of the following: [Learning Outcome 7.2]

hypothetical syllogism,

Let’s assume I am the manager of a franchised Blockbuster Video store in the mid 1990’s. Opening up in my town and close enough to take customers away from my store are several other video stores offering the same movies for sale & rent at relatively the same price. If the owner tasked me with developing a marketing solution to not only keep our current customers but would gain new customers as well, I would offer an incentive program. That program would offer customers a free rental with every ten paid star rentals. In addition, with that free rental, the customer would be entered into a monthly drawing with other 10-star renters for a free movie purchase of their choice.

To better understand my logic, if my business needs to gain an advantage over other video rental stores, I need to offer an incentive for the customers to come to my store. My incentive would be saving the cost of renting that eleventh movie against the competition charging them for that eleventh rental. Furthermore, by renting more movies and gaining more stars at my store, the consumer might win a free movie to take home that he/she would not have an opportunity to win at the competing establishment.

Hypothetical syllogisms thinking involves, “If (I rent my movies at Blockbuster)…then (I will get free rentals and be entered into a drawing)…” reasoning (Boss, 2017).

Assume you are in an organization that is experiencing difficulty competing with others within a particular industry as a result of the entry of several new competitors into the market. You have been tasked by the organization’s leader with developing a creative marketing solution. 

Develop a creative approach for improving specific processes, and utilize inductive arguments to support the proposed solution. The response should include one of the following: [Learning Outcome 7.2]

generalization,

Let’s assume again that I am the manager of a franchised Blockbuster Video store in the mid 1990’s. Opening up in my town, and close enough to take customers away from my store, are several other video stores offering the same movies for sale & rent at relatively the same price. If the owner tasked me with developing a marketing solution to not only keep our current customers but would gain new customers as well, I would conduct a poll of current customer rentals for a month. With the information gleaned from current customer rental history, marital status, children movies or not, age, zip code, and cost-per-transaction totals, I would have an idea of what our core customer make-up is. From there, I could offer incentives geared toward that customer base to entice return visits. In addition, I could use that information better tailor our inventory to better serve those customers. With the opposite information (who it is that we are not selling to), I could better understand what type of customer it is that I am missing and could focus advertising dollars in that direction to entice those folks to come into our store to try us out.

To better understand my logic, we use generalization when drawing conclusions about certain demographics or groups based on a sample of that group (Boss, 2017). By conducting a poll, either internally without the customer’s knowledge or by way of asking a random sample of customers certain questions, we can gather the basic characteristics of the sample. From there, generalization is a making a claim about the characteristics of the whole population; in our case, the population of our store.