Instructions
- For citations, please use APA style. Information on APA style can be found through various online sources. Please note that there may be various variations of the APA style so whichever one you use would be fine. However, please maintain consistency in whichever format you use. Here is an example.
In-text Citations Example:
Transaction cost theory, originally proposed by Coase (1937) and then developed upon by Williamson (1975), examines the efficacy of performing a particular transaction internally versus externally (Geyskens, et al., 2006). In that regard, TCA evaluates the benefits and disadvantages of outsourcing vis a vis in-house development of a product (Ang and Straub, 1998; Bhali and Rivard, 2003; McNally and Griffin, 2004).
Bibliography Format Example:
McNally, R.C., and Griffin, A. (2004). Firm and individual choice drivers in make-or-buy decisions: a diminishing role for transaction cost economics? Journal of Supply Chain Management. 40(1), 4-17.
- The research paper must have a minimum of 10 references in the bibliography section. The sources that are provided in this paper can be part of the 10 references.
- Page Length: 4-7 pages, single-spaced (including any charts; excluding cover page and bibliography). The paper must be at least 4 pages in length. While there is no penalty in terms of going over the 7-page limit, it is recommended that you stay as close to that number as is possible to minimize any repetition, etc.
- Students are not required to include charts/figures but if you do choose to use these, the charts must be embedded in the main body of the paper (in relevant sections) and not in an appendix. Chart/figure numbers and titles must be used. Please make sure that the chart/figure is legible. Please cite the source for the chart at the bottom.
Please avoid excessive use of direct quotes from any of the research sources. The write-up/answers should be in your own words and excessive use of direct quotes will almost certainly raise the Turnitin content match percentage.
- Each question must be labeled, {e.g. Q1 (a)}, and must be answered separately.
- Students should use additional research (beyond what is provided with the assignment) to support your answers.
- Unless otherwise, late submissions may not be accepted or may receive partial credit only. If an extraordinary event prevents you from submitting your paper on time, please advise both myself and the academic coaches ahead of time or at your earliest.
- This activity relates to material covered in Modules 1 & 2. Please leverage relevant information from the modules to help you develop answers to activity questions.
- This activity focuses on Carvana which utilizes an online platform to sell used vehicles.
https://www.carvana.com/research
https://investors.carvana.com/
https://investors.carvana.com/events-and-presentations
https://www.autonews.com/used-cars/5-used-vehicle-trends-2020
- In addition to the above URLs, you must conduct additional research to develop a deeper understanding of trends in the used/pre-owned vehicle market.
- Q.1. (a) Develop a SWOT analysis for Carvana. In doing so, identify and explain 3 strengths, 3 weaknesses, 3 opportunities and 3 threats that may affect the company. Use research to support your answer. (25 points)
- Hint: Opportunities are not the same as recommendations, i.e., Carvana should enter foreign markets. Rather an opportunity is a trend, e.g., growing demand for used vehicles in overseas markets. Similarly, threats are also external to the company and should not be confused with weaknesses. Opportunities and threats are tied to the macro environment such as social cultural shifts, economic outlook, competition, etc.
(b) Are any of the company’s strengths sustainable over the next 12-24 months? Explain your answer. (10 points)
Answer Format: Use headings and sub-headings. For instance, the main heading could be Strengths and you can use a sub-heading for each strength followed by an explanation. Or the main heading can be Strengths and you can create a bullet-point list below that. However, each bullet-point must have sufficient details/explanation and it cannot be just a two or three word sentence.
Q.2. (a) Identify and explain 5 criteria a consumer is likely to use when deciding which outlet to purchase a used vehicle from? Use research to support your answer. (25 points)
(b) How does Carvana rank on each of these criteria? (Excellent, Good, Fair, Poor)? Explain your rationale. (10 points)
Answer Format: For part (a), list each criterion using a heading followed by an explanation of why that criteria are likely to be important to a used vehicle buyer.
For part (b), you can develop a chart/matrix or use a different format. Briefly explain the rationale behind each ranking.
Q.3. (a) Which of the following strategy(ies) is the company employing currently? See Figure 1 below. Use research to support and explain your answer. (15 points)
(b) Which strategy(ies) should be used going forward? Explain your answer. You can choose the strategy(ies) from Figure 1 or you can propose on of your own. In developing your recommendation, you can focus on short or long-term or both. (15 points)
Hint: For part (b), one way to come up with a strategy is to review the SWOT analysis to see if you can find something there that may be worth exploring. Another way would be to look at the customer purchase criteria which you identified.
Answer Format: Each part must be answered separately. Use headings or subheadings followed by an explanation.
Figure 1: Marketing Strategies