Deck 21: Ethical Marketing in a Consumer-Oriented World: Appraisal and Challenges

Question 1

Discuss how one or more of the trends or changes shown in Exhibit 21-5 are affecting marketing strategy planning for a specific firm that serves the market where you live.

Answer 1

Advances made in communication technology and changes in the demographic factors have influenced the marketing strategy of many companies. For example: these days companies allocate high budgets to mobile advertisements and promotions rather than the traditional channels.
Different trends and changes in communication technologies and in the demographic factors affect the marketing strategy planning. Advancement in communication technologies has transformed the market. With new and advanced technologies marketing strategies are focused to be more personalized and attractive for the customers. Strategies are more focused on creating an ecosystem which is more integrated. With new and advanced communication technology marketing is able to enter the infrastructure on which the companies are built. These advanced technologies have offered better connectivity with the customers. It has helped to make the marketing experience more personalized for the customers.
Demographic factors influence that determines the preference of the product or buying behavior of the customers. These demographic factors help the companies to identify their key customers. The companies then make strategies for the target customers. This helps the companies to maximize its profits and sales.

Question 2

Discuss how slower economic growth or no economic growth would affect your college community-in particular, its marketing institutions.

Answer 2

The economy of a country and the business operations might be interrelated. More business possibilities might be explored when there is a good economic growth in the region.
The economy of a country could be considered strong, if there are enough resources and the business operations are functioning as usual. People will have money for rotation and the buying capacity of the customers will be more.
Consider an economic system, where the economic growth might be slower or nil. The economic slow down might be of various reasons which could be social or political. As a result of the slower economic growth, people will have less job opportunities and will be left will less money. When the employment rate goes down and the buying capacity of the people might be in dilemma, it will have an adverse effect on the organizations. Firms might run out of money, a major resource for that maintains the activities of the various departments. Hence as a part of reducing the expenses, the marketing expenses might be removed from the budget. Since the economy is dull, the marketing strategies might have little impact on the people. Therefore, the marketing institutions that might be a part of the college community might slow down its operations temporarily.

Question 3

The Marketing Plan Coach software on the text Web site includes a sample marketing plan for Hillside Veterinary Clinic. Review the entire marketing plan.
a. How do the pieces fit together?
b. Does the marketing strategy logically follow from the target market dimensions?
c. Does the marketing strategy logically follow from the differentiation and positioning?
d. Does the plan appear reasonable given the stated objectives?

Answer 3

not answer

Question 4

Explain why marketing must be evaluated at two levels. What criteria should be used to evaluate each level of marketing? Defend your answer. Explain why your criteria are better than alternative criteria.

Question 5

Discuss the merits of various economic system objectives. Is the objective of the American economic system sensible? Could it achieve more consumer satisfaction if sociologists or public officials determined how to satisfy the needs of lower-income or less-educated consumers? If so, what education or income level should be required before an individual is granted free choice?

Question 6

Should the objective of our economy be maximum efficiency? If your answer is yes, efficiency in what? If not, what should the objective be?

Question 7

Discuss the conflict of interests among production, finance, accounting, and marketing executives. How does this conflict affect the operation of an individual firm? The economic system? Why does this conflict exist?

Question 8

Why does adoption of the marketing concept encourage a firm to operate more efficiently? Be specific about the impact of the marketing concept on the various departments of a firm.

Question 9

In the short run, competition sometimes leads to inefficiency in the operation of our economic system. Many people argue for monopoly in order to eliminate this inefficiency. Discuss this solution.

Question 10

How would officially granted monopolies affect the operation of our economic system? Consider the effect on allocation of resources, the level of income and employment, and the distribution of income. Is the effect any different if a firm obtains a monopoly by winning out in a competitive market?

Question 11

Comment on the following statement: "Ultimately, the high cost of marketing is due only to consumers."

Question 12

Distinguish clearly between a marketing strategy and a marketing plan. If a firm has a really good strategy, does it need to worry about developing a written plan?

Question 13

How far should the marketing concept go? How should we decide this issue?

Question 14

Should marketing managers, or business managers in general, refrain from producing profitable products that some target customers want but that may not be in their long-run best interest? Should firms be expected to produce "good" but less profitable products? What if such products break even? What if they are unprofitable but the company makes other profitable products-so on balance it still makes some profit? What criteria are you using for each of your answers?

Question 15

Should a marketing manager or a business refuse to produce an "energy-gobbling" appliance that some consumers are demanding? Should a firm install an expensive safety device that will increase costs but that customers don't want? Are the same principles involved in both these questions? Explain.