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Assignment #3 INSTRUCTIONS – Business 100 Make sure that you have also downloaded the Assignment #3 Template

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Assignment #3 INSTRUCTIONS – Business 100

Make sure that you have also downloaded the Assignment #3 Template. You will answer the questions there and submit that file as your assignment.

question 1: product

Background information needed to answer Question #1:

Below are three different vehicles that each have unique features. Review those features and to determine which vehicle would sell the most based on the Customer Profile highlighted below.

PRODUCT DESCRIPTIONS

Vehicle 1 Car Providing the owner fantastic gas mileage for the long daily commutes as well as superior performance the car is a great practical, well rounded option. With 4 doors and a large rear seat, this car is suited to hauling family and friends anywhere they want to go. In the rear, the car boasts the largest trunk of any car in its class for the ultimate hauling experience. MPG: 28 city/ 40 highway / 32 combined Passengers: 5 Safety Rating: Fair Warranty: 3 year/ 36k miles Price: $20,000.00 ($325 per month w/2k down) Lease Cost: $180 per month / $1800 down payment		Vehicle 2 Minivan With its ability to haul all of your family and friends, you’ll be ready to tackle all life adventures. Built with convenience in mind, the van has 2 automatic sliding doors and an electronic rear hatch for the easiest of access. The convenience doesn’t stop there with rear seats that fold into the floor giving in class leading cargo space. MPG: 24 city/ 35 highway/ 28 combined Passengers: 7 Safety Rating: Best Warranty: 10 year/ 100k miles Price: $25,000.00 ($415 per month w/2k down) Lease Cost: $200 per month / no money down special offer		Vehicle 3 Truck With maximum towing capacity, the truck can pull any load down the road. The spacious luxury level cabin hosts a whole suite of features making anyone feel right at home. Leather seating, upgraded sound system, and adaptive cruise control make driving this large vehicle a breeze. MPG: 12 city/ 18 highway/ 15 combined Passengers: 5 Safety Rating: Poor Warranty: 5yr/60k miles Price: $40,000.00 ($685 per month w/2k down) Lease Cost: $500 per month/ $2500 down payment

CUSTOMER PROFILE:

• 70% are couples with 3 children.
• Age: 28–48.
• Income: 70,000 per household.
• 90% of target market live 30 miles from work.
• 80% need some cargo space for travel and house projects.
• 65% are concerned about gas mileage.
• 70% consider safety a top priority.
• 85% prefer long warranties.

Go to the Assignment #3 Template and complete Question 1.

question 2: financial options

Background information needed to answer Question #2:

Based on the information contained in the vehicle descriptions in Question #1, what is the best financial option to purchase the vehicle you selected in Question #1. 

Go to the Assignment #3 Template and complete Question 2.

question 3: promotions

Background information needed to answer Question #3:

Below are three recommended advertisements for the vehicle options in Question #1, including a special deal promotion, for the vehicle that is expected to sell the best.  Review and based on the vehicle descriptions, determine which promotional activity will sell the most vehicles.

POTENTIAL PROMOTIONAL OFFERS

Promotion 1: Free extended warranty with purchase

Promotion 2: First oil change and tire rotation free

Promotion 3: Free car washes for a year

Go to the Assignment #3 Template and complete Question 3.

question 4: pricing

Background information needed to answer Question #4:

Review the pricing options available for each of the vehicles below.  Also review the Manufacturer Suggested Retail Price of the vehicle as you review the best price mix for all three vehicles.

PRICING OPTIONS

Price Mix 1: Base Sale Price: $19,500 Mid-tier Sale Price: $24,550 Fully-Loaded Sale Price: $34,999

Price Mix 2: Base Sale Price: $20,000 Mid-tier Sale Price: $25,000 Fully-Loaded Sale Price: $30,000

Price Mix 3: Base Sale Price: $22,000 Mid-tier Sale Price: $24,000 Fully-Loaded Sale Price: $28,999

 

PRODUCT DESCRIPTIONS

Vehicle 1 Car Providing the owner fantastic gas mileage for the long daily commutes as well as superior performance the car is a great practical, well rounded option. With 4 doors and a large rear seat, this car is suited to hauling family and friends anywhere they want to go. In the rear, the car boasts the largest trunk of any car in its class for the ultimate hauling experience.   MPG: 28 city/ 40 highway / 32 combined Passengers: 5 Safety Rating: Fair Warranty: 3 year/ 36k miles   Price: $20,000.00 ($325 per month w/2k down) Lease Cost: $180 per month / $1800 down payment		Vehicle 2 Minivan With its ability to haul all of your family and friends, you’ll be ready to tackle all life adventures. Built with convenience in mind, the van has 2 automatic sliding doors and an electronic rear hatch for the easiest of access. The convenience doesn’t stop there with rear seats that fold into the floor giving in class leading cargo space.     MPG: 24 city/ 35 highway/ 28 combined Passengers: 7 Safety Rating: Best Warranty: 10 year/ 100k miles   Price: $25,000.00 ($415 per month w/2k down) Lease Cost: $200 per month / no money down special offer		Vehicle 3 Truck With maximum towing capacity, the truck can pull any load down the road. The spacious luxury level cabin hosts a whole suite of features making anyone feel right at home. Leather seating, upgraded sound system, and adaptive cruise control make driving this large vehicle a breeze.       MPG: 12 city/ 18 highway/ 15 combined Passengers: 5 Safety Rating: Poor Warranty: 5yr/60k miles   Price: $40,000.00 ($685 per month w/2k down) Lease Cost: $500 per month/ $2500 down payment

Go to the Assignment #3 Template and complete Question 4.

question 5: branding

Background information needed to answer Question #5:

The company that makes the vehicle you selected is looking to rebrand the vehicle. They have asked for your input on possible brands ideas. Read the information below summarizing the vision for each Brand Direction.

Brand Direction 1: Fantasy Car of Your Dreams Represents car fanatics that travel around the country attending car meets and get-togethers, races, and other competitions.	Brand Direction 2: Fun for the Whole Family Inspired by the ultimate family experience, taking road trips, and sightseeing.

Go to the Assignment #3 Template and complete Question 5.

question 6: sales pitch

Background information needed to answer Question #6:

A great sales pitch has five components: introduction, problem, solution, objections, call to action.  Review the 5 components of a successful sales pitch.

Step 1 – Introduction

A good sales pitch quickly introduces the reason the customer should give you their attention. Consider starting with something that grabs both their heart and mind, like a surprising fact or a relatable story.

Step 2 – Problem

Once you have the customer’s attention, show that you understand the problem they are facing, one that your product can solve. Take some time to acknowledge the problem and talk about how well you understand the opportunity or challenge the customer needs a solution for.

Step 3 – Solution

Once you’ve outlined the problem, it’s time to introduce the solution. This is where you talk about how the company’s product or service will address the problem the customer is facing. Make sure to describe the key features of the product and talk about how they will help the customer.

Step 4 – Objections

It’s important to anticipate reasons why a customer might object to purchasing the product. If the product is expensive, for example, you might acknowledge the high cost while also explaining why it’s justified given the quality of the product or its innovative features.

Step 5 – Call to Action

Having introduced the product, spoken about the problem, described the solution and addressed any objections, you’ve probably got the customer right where you want them. At this point, you need to give them a clear call to action. Be direct and make it easy for them to say yes. Invite them to purchase the product or offer them a free trial of the product.

Go to the Assignment #3 Template and complete Question 6.

Next step: submit your work

1. Save your completed template (not these instructions) to your desktop.

• Navigation: Select File at the top, then select Save As > Browse > Desktop, select Save.

2. Log into your class and select Assignment #3 on the left, scroll down and select Submit Your Work, click Browse My Computer, find your file on the desktop, click Open, then click Submit.
3. If you have any issues please email me or call

I will provide you assignment feedback and you can then make any changes you would like and resubmit for grading.

Congrats on completing assignment #3!