Marketing Principles
(MKTG300; Spring 2014; Dr. Carter)
***WSJ INNOVATORS TARGET MARKET, PLC & M-MIX 25pt. EXTRA-CREDIT ASSIGNMENT***
(DUE by email Friday May 30th @ 11:59pm)
INTRODUCTION
We have been introduced to seven amazing WSJ Innovators who each demonstrate the power of art and a creative mind
for generating ideas that improve marketing, business, and society. The list of seven WSJ Innovators with embedded
links to their video clips is presented below for your reference.
WSJ. MWSJ Magazine 2013 Innovator Awards: Architecture (David Adjaye)
WSJ. MWSJ Magazine 2013 Innovator Awards: Art (Do Ho Suh)
WSJ. MWSJ Magazine 2013 Innovator Awards: Entertainment (Draft Punk)
WSJ. MWSJ Magazine 2013 Innovator Awards: Humanitarianism (Alice Waters)
WSJ. MWSJ Magazine 2013 Innovator Awards: Design (Thomas Woltz)
WSJ. MWSJ Magazine 2013 Innovator Awards: Technology (Nick D’Alosio)
WSJ. MWSJ Magazine 2013 Innovator Awards: Fashion (Pat McGrath)
Now, this extra-credit assignment gives you an opportunity to insightfully apply marketing concepts and strategies to
ONE of those seven WSJ Innovators. You are the marketer of their innovative idea! As we know, markets do not only
serve business or commercial purposes. There are diverse markets that comprise society – people and organizations.
Also, remember that markets are global and digital/virtual. So, with this wide range of markets to consider, you can
certainly identify the types of customers who value the idea/offering created by your chosen WSJ Innovator.
In order to market your chosen WSJ Innovator’s idea, you will have to apply specific marketing concepts and strategies
learned from the course. In particular, three concept frameworks are required to complete this assignment:
a) Segmentation & Target Market Selection (Chapter 8) … To pick the types of customers who value the idea.
b) Product Life Cycle (Chapter 11) … To plan marketing strategies over the projected life of the idea in the market.
c) Marketing Mix – 4Ps (Chapters 10 – 19) … To determine which strategic approaches will best add value to the
idea being marketed for target customers.
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INSTRUCTIONS
The specific steps to complete the WSJ Innovators extra-credit assignment are as follows:
 FORMAT … Use ONLY MS Word, 12 pitch Times font, 1 inch margins, and subheadings for each step outlined below.
 FIRST … Select a WSJ INNOVATOR based on YOUR personal interest in their IDEA as a MARKET OFFERING. A short
paragraph of 7 - 9 sentences (or bullet points) should be composed to express your interests in the person/idea, as
well as to emphasize the idea’s precise design focus, features, and functions that delivers “customer value.”
 SECOND … Select the TARGET MARKET (chapter 8) for the WSJ Innovator idea/offering and in a paragraph of 7 – 9
sentences (or bullet points) describe the types of customers as individuals/organizations, using segmentation bases:
a) Demographic
b) Geographic (global)
c) Psychographic
d) Benefits/Usage (behavioral).
 THIRD … Plan and chart the PRODUCT LIFE CYCLE (PLC – chapter 11) pattern of the WSJ Innovator idea/offering
based on how you predict that it will be favorably received (e.g., adopted, purchased, consumed) by the Target
Market over the “life” of the idea/offering in the intended society/market. In a paragraph of 7 – 9 sentences (or
bullet points) explain the rationale supporting the types of PLC patterns predicted. Be sure to plot three types of
curves for the four stages of the PLC – Introduction, Growth, Maturity, and Decline):
a) Revenue Pattern
b) Profit Pattern
c) Customer Satisfaction Pattern (not included in most PLC charts).
 FOURTH … Describe the main MARKETING MIX 4Ps STRATEGIES that will be used in each of the four PLC stages to
maximize the societal/market acceptance and satisfaction with the WSJ Innovator’s idea/offering. Reference the
textbook chapters 10 – 19 to gain an understanding of the strategic concepts presented in the PLC chart, since we
will not address them all in class before the assignment is due. Because this is an extra-credit assignment, you will
have to correctly interpret the strategic concepts on your own to earn full credit. In four separate paragraphs of 7 –
9 sentences (or bullet points) – one paragraph for each of the 4Ps, describe the strategic concepts included. Use the
link here http://www-rohan.sdsu.edu/~renglish/370/notes/chapt11/ , and the PLC chart below excerpted from the
link site, as a guide for your PLC chart diagram and the specific Marketing Mix 4Ps strategies to address.
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