Questions, Tasks, and Deliverables
1. (15 points) Intelligence Scanning
Tesla has previously had a policy of not advertising their products, but now has engaged you to assess the feasibility of an Internet ad campaign for one of their products (you can choose which one)
Use web search, web-scraping and social network API’s to develop an evidence based mapping of Tesla’s demand side for a single product only.
Provide R code and output to answer some of the following questions (you don’t need an exhaustive list, these are just examples) concerning Tesla’s target customers:
• Who are the customers (demographics and locations)?
Where should you open showrooms and focus media advertising?
• What are customers looking for (features of the product)?
• When do these potential customers want to buy the product?
• Why do these potential customers want to buy the product?
• How much are these potential customers willing to pay for this product?
• What they read (context for display)?
• Who they associate with (social network)?
• How they describe their interests (keywords)?
• Where they go to buy (location and reach)?
• Why they buy (upgrades, substitutes and complements)?
• What or who influences their decisions (influencers)?
• When, how often, how much they buy (quantity, importance of customer)?
Your R code should include web-scraping using clues from SelectorGadget (remember this only works on the Chrome browser) and Twitter (or other social network) API’s.
For the Twitter or social network analysis, choose a person, product, issue or anything else germane to Tesla on which you wish to do sentiment analysis. For example, on Twitter you would curate your tweets on some choice-combination of:
• time
• @ = people
• # = topics
Consider questions like “What is the sentiment towards this topic or person?” or “How has this sentiment evolved over time?”. Are there several groups of ‘tweeters’ that hold differing sentiments towards the focal issue or person? Is this Twitter channel being used for promotional purposes?
Using the rtweet package you can access Twitter;
• use the setup_twitter_OAuth() function which uses the httr package
• Get your api_key and your api_secret as well as your access_token and access_token_secret from your app settings on Twitter (click on the “API key” tab to see them)
.• Perform a sentiment analysis of the tweets using the NRC Word-Emotion Association lexicon (available in R in the textdata library).
State your focal issue or person, and describe how your organized your analysis of sentiment. Use graphs, charts, tables and summaries to show:
• the sentiment towards this topic or person
• how this sentiment has evolved over time
• that there are several groups of ‘tweeters’ that hold differing sentiments towards the focal issue or person
• that this Twitter channel is or is not being used for promotional purposes?
2. (10 points) Differentiators
Based on the evidence you have gathered, identify the 2-3 product differentiators for your product
• Identify your target customer, and tell me 3 things that they are looking for (your value proposition)
• Identify your 2-3 “differentiating features” and tell me how these compare to your main competitors
3. (10 points) Competitor analysis
Map the product category space and place the competitors’ products in the market on a map (2-3 dimensions) of your differentiators
Competitor analysis starts with a review of competitors business, financial position and trends. We want in particular to know their:
• products and product plans
• sales and trends
• financial health (e.g., income or loss, EPS, etc.)
The EDGAR database at https://www.sec.gov/edgar.shtml www.sec.gov/edgar.shtml offers a wealth of fi- nancial information on industry competitors, but only if they are publicly traded companies. Use package edgar to extract this information. You can also extract EDGAR information directly into R workspace with finreportr
Remember that you can identify the competitor space as a particular industry sector using SIC or NAICS codes. Tesla (excluding the battery side) operates primarily in SIC Codes 3711 and 3714 - Motor Vehicles and Passenger Car Bodies; and NAICS Codes 336111 and 336390 - Automobile Manufacturing.
Map out the competitors as:
• direct competitors who make electric cars in your price range
• skirmishers who make petrol cars in your price range
• bystanders who have the potential to compete in the future.
Indicate the strength and threat to your market from each of these.
4. (10 points) Consumption Chain
Describe the necessary marketing (only) ‘consumption chain’ activities. Describe the ‘marketing funnel’- - the sequence of activities from customer contact to purchase
• Are any of your ‘differentiators’ related to consumption chain activities that are unique to Tesla (this should be a “YES!”)
• Since you are not crafting an advertising campaign for Tesla, use web search, web-scraping and social network API’s to develop an evidence based mapping of the demand for particular activities on Tesla’s consumption chain.
• Provide R code and output to support your assertions about the unique advantages of Tesla’s con- sumption chain activities. You don’t need an exhaustive list; just one or two specific features that are more attractive than the competition.
5. (10 points) Strategy
Write a strategy for Internet advertising based on your findings.
• List an effective set of marketing channels for reaching your target customers and convincing them to buy your product
• Show how Tesla will compete with (1) direct competitors, (2) skirmishers, and (3) bystanders in the market.
6. (5 points) Technology Evolution
Based on the evidence you have gathered, what technologies relevant to Tesla’s product will see the fastest evolution, and how will this change the marketing strategy in the next few years.
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