03 Jan For each of the three

MKT301 Principles of Marketing

Module 1 Discussion

We defined marketing as, “the art and science of getting people to spend their money on your product rather than the other guy’s, and be happy that they did so.” Do you think that’s true? Does some Wizard of Oz person-behind-the-curtain get you to buy something by manipulating you through the 7 Ps? And is “manipulate” the right word for us to use? Which one of the Ps gets you to purchase – a great price? Superior product no matter what the cost? Or are you influenced by a cool promotion? Give an example of a product and why you bought/buy it. Be specific in referring to the 7 Ps in your post, and include which of the Ps is less relevant to you as well. Don’t forget that the Ps often are inter-related – there may be more than one P that influences your decision to buy a product.

MKT301 Principles of Marketing

Module 2 Discussion

The Good, the Bad, and the Ugly

We’ve all heard the cliché that “nice guys finish last.” Is this true in marketing? Do firms that use good ethical practices have an advantage or disadvantage? Do you think consumers will pay a few cents more for non-polluting soap or environmentally friendly food products? Even popular movies have raised this question. In the film, “Heaven Can Wait,” Warren Beatty plays Joe Pendleton, a former NFL quarterback who came back to life as a CEO after a fatal accident. Joe tells his executives that he wants his company to be the “good guy tuna company.” Joe believed his customers would pay a little more to not kill dolphins. This sounds good in the movies, but is it true in real life? How about for you and your family?

For this week’s discussion, select a company that you believe has exceptionally good, or bad, ethical practices. Begin by describing the actions or activities that you believe demonstrate why you selected them. Be very specific so that we are clear on why the firm does, or does not, demonstrate good corporate social responsibility. In your discussion, include if you believe they are at an advantage or disadvantage due to these activities, and why. You should also select at least one of Saint Leo core values and describe why the firm either does, or does not, demonstrate that value.

Use specific examples to support your opinions. Don’t forget to include your personal experiences with the company and with our core values. Please type the name of your firm in the title of your post (e.g., TOM’S SHOES) so your classmates can easily see it. Any firm can only be used ONCE – first come, first served!

Your opening post should be no less than 350 words, free from spelling and grammar errors and college level writing is expected. If you use sources be sure you cite them.

MKT301 Principles of Marketing

Module 3 Discussion

Creating a Marketing Research Plan

By now you should know the basics of marketing research from the materials Tess and Maddie loaded for Jack. In this week’s discussion you’ll be designing a short market research plan for the product you selected for your marketing project. You’ll follow the same basic process we covered in the research materials that looked like this:

Define the business problem.

Convert that business problem to a research question

Determine segment and sampling technique

Select which type of research will work best for our question

Analyzing our results

Reporting our results

1. In this week’s scenario Tess described the business issues that Jack is concerned about. Using those as a starting point identify TWO business problems you might have with your project.

2. Next, convert those business problems to research questions. What are specifically trying to learn as a result of your research project?

3. Describe the customers you will target for your research and the sampling technique you will use. Make sure you are clear how you will use it and why you chose it.

4. Describe what types of research techniques you will use. Identify ONE secondary source and describe how you will use it and why you chose it. Select ONE primary research technique and describe how, and why, you will use it.

5. Write a one paragraph memo describing how you plan to report your finding. Think about the memo that Monique wrote to the students – how can you make your report accurate yet easy to understand?

Your post should be no less than 350 words and well organized. As always, spelling and grammar will count. In your response to two of your classmates, critique their research plan and offer any suggestions you may have. Responses that lack insight and critical analysis, such as “Great plan” will receive few points. Be fair, professional and supportive. If you wish, you may also revise your own plan by incorporating their ideas. Collaborative responses are fine.

MKT301 Principles of Marketing

Module 4 Discussion

Marketing to a global world

This week’s discussion will allow you to combine what we learned about global marketing with the product you are using for your marketing plan.

Assume that you are being sent to the country you were assigned at the beginning of the module (no, you cannot change) to market the product you are using in your class marketing plan.

Considering everything we have learned so far about the marketing mix, environment and other factors you need to develop a plan to sell your product. Prepare your plan as if you were giving a briefing to the staff that is coming with you. Thus, it must be clear, concise and in professional business language.

Your briefing should include:

Will you standardize or adapt each of the four Ps in the marketing mix. Why? Be specific.

Review each of the four traits in the Hofstede cultural index. What should your staff be aware of regarding differences between the US and your destination? Think carefully, you don’t want to embarrass your firm or insult your hosts.

What is the country’s currency and exchange rate against the dollar? Average income? What does this suggest about how affordable your product will be for the average consumer?

Finally, list one thing that your staff should know about the economic environment (what is important about the country – do NOT use exchange rates or PPP). Also, list one “just for fun fact” that your staff will enjoy knowing about their destination.

As always, college level writing is expected and if you use a source be sure to give credit (it is not necessary to cite the material directly from the course).

In your responses, comment on the conditions in the country as if you were going with your classmates. Your instructor will be looking for insight questions and/or useful feedback on the country in question.

MKT301 Principles of Marketing

Module 5 Discussion

My Favorite Bands

If you’ve had a really bad day (one of those “I wish I had stayed in bed days”), is there a product that always makes you feel better? How about at the holidays; does your family have favorite foods that you associate with all the good things the holidays mean to you? The firms that make those products certainly hope so, because it means they have been successful in creating a brand image that you associate with positive feelings or values. We don’t even have to eat that favorite food; just the logo or jingle can cause us to make those associations. But for every person that shares your love for Coke there’s one that won’t settle for anything other than Pepsi.

In this week’s discussion we’re going to continue our study of branding by comparing two competing brands. In this discussion we hope to accomplish two things. First, demonstrate that you have grasped, and can apply, the basic concepts of branding. If you did not take your time with the Elder Care scenario this week you will find this very difficult. Second, apply those concepts to analyzing not just the brand image of a given product, but how that brand compares and contrasts with a direct competitor.

To begin, select a brand that you like. Describe the brand image of the product or firm and provide very specific examples of how they firm’s supports that image. Then, select a competing brand and compare and contrast the brand image of the second product to the first. Be very specific and provide detailed examples. You are encouraged to use your own experiences with the product in your discussion. Examples of ads or other promotional activities will be very helpful in evaluating how the firm supports the brand.

As always, your initial post is due Thursday evening and should be no less than 350 words. Spelling, grammar and college level writing is required.

MKT301 Principles of Marketing

Module 6 Discussion

You want HOW MUCH for that bag?

Why can Prada sell a handbag for $2,000 that costs the firm a little more to manufacture than the $200 bag sold at a department store? At the other end of the pricing spectrum, why would a consumer goods company provide a coupon that makes their new snack product all but free? We learned in the Elder Care scenario that there are a number of pricing strategies firms can use to achieve their marketing objectives. Do they want to build market share, create a perception of exclusivity, or simply get you to try those new cookies?

Consider the product you are using for your marketing plan. How would you price it to achieve your objectives? Describe the pricing strategy you would use to introduce your product to the market, and why you selected that strategy over other options. Be very precise – you must use the correct terminology to receive ANY points.

Your analysis must include:

If your choice a long-term or short-term strategy?

What advantages or disadvantages do you foresee?

Suppose that sales are not meeting your objectives, what change might you make in your pricing?

Be sure to complete the Elder Care scenario and the exercises before you attempt to post. Posting is not available until you have completed the scenario. As always, college level writing is expected and your post should be a minimum of 300 words.

By the way, that $2000 Prada bag may seem like lot of money for a simple handbag, but it is not even close to top of the pyramid. For that, check out the Tanaka designed bag sold by Hermes for a staggering $1.9 million. Why not order two?

MKT301 Principles of Marketing

Module 7 Discussion

Have you ever “liked” a company or product on Facebook? Participated in a company’s blog or posted pictures on their website? Do you and your friends have the next great commercial for Doritos? The snack food firm has turned user generated content into an advertising phenomenon. Their customer created ads are frequently among the most popular during the Super Bowl, and in many cases, have gone viral. User generated content is exactly what it sounds like, content such as blogs, videos, pictures, and tweets (among many other types) that are created and shared by ordinary customers.

Check out this ad that turned into an entire storyline for the firm that developed it and now has not only millions of views, but a following that waits for the next “episode” as if it were a TV series. Thousands have posted their comments, photos and shared the ad with other potential customers – the original in the series has hundreds of thousands “likes”. Not bad for stuff in a can…

OK, your turn. Conduct a web search for examples of firms that have successfully employed user generated content; there are lots of great ones to choose from. If they can do it, so can you! How would you employ user generated content to promote, brand, and sell the product you are using in your marketing plan? Is mommy blogging for you? Photo contests? How will you create the “buzz” you need to launch your product? Describe your user generated content plan and why you selected one type of content over another. How will you get your customers to participate? What’s in it for them? Be specific and share at least one example of a firm that has used a similar strategy.

Your opening post should be at least 350 words and feel free to include photos and samples of the content. As always, college level writing and grammar are expected.

In your responses, critique the examples your classmates have selected and add your ideas for the product or brand.

MKT301 Principles of Marketing

Module 8 Discussion

Developing an IMC Plan

While Maddie, Tess and Chris wrap things up with Elder Care let’s get you and your classmates started on this week’s discussion. You’ve already done the groundwork with the exercise in the scenario – now we are going to expand on what you’ve already done.

You will be playing the role of the marketing director for either EnviroCamp or Madison Pet Foods and targeting the consumer segment you selected earlier. You MUST use the combination of firm and segment that you have already selected. You will be developing an IMC proposal for the firm and target audience you selected. Remember that Maddie recapped some of the important things to consider when you develop an IMC plan, including objectives, segmentation, branding and integrating different parts of promotion into your strategy.

Begin by telling your client what you hope to achieve with your IMC plan – these are your objectives – be sure they are SMART. Then, select at least three of the types of media listed in the scenario exercise. You do NOT have to use the same ones you selected originally, but you do need to stay in the same budget. Here they are below.

Advertising

Personal selling

Pricing

Social media

Sales promotion

Brand image

Direct marketing

Dog bone

Public relations

Guerilla marketing

For each of the three, describe in detail what you will present to your client, including the theme of your message, which execution technique (slice of life, demonstration. etc) you will use and if you plan to use an emotional or cognitive approach to reach the consumer. For at least ONE of your media types, you must provide your client with a visual of some type, such as PowerPoint mockup of your ad or billboard, a screen shot your social media page or a storyboard.

Remember your initial post is due Thursday.

For your responses, play the role of the client and give them feedback, which might include questions, regarding their proposal. As usual, your initial post is expected to be at least 350 words and college level writing is expected.