MKT 245 Grand Canyon Week 7 Complete Work

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MKT 245 Grand Canyon Week 7 Complete Work

MKT245

MKT 245 Grand Canyon Week 7 Discussion 1

“The social responsibility of business is to increase its profits.” So said Milton Friedman in a famous 1970 missive in The New York Times. How do you respond to this statement? Do you support or refute this notion? Explain.

 

MKT 245 Grand Canyon Week 7 Discussion 2

Describe an example of societal marketing from your experience and/or research and evaluate whether or not it was/is effective, and why? Name the organization. Was the effort consistent with the mission of the organization?

MKT 245 Grand Canyon Week 7 Assignment

Marketing Analysis Research Report& Marketing Analysis Research Report: Final Draft

Details:

Create a PowerPoint presentation (8-10 slide) designed to deliver the research findings and recommendations in your report to your manager. Your presentation should persuasively demonstrate your position on why the sales team should or should not sell the product or service. Include the notes you would utilize while delivering your presentation.

You are not required to submit this assignment to Turnitin, unless otherwise directed by your instructor. If so directed, refer to the Student Success Center for directions. Only Word documents can be submitted to Turnitin.

Marketing Analysis Research Report Outline

In this course, you will play the role of a new assistant marketing analyst for an advertising agency.

Your manager has just given you the first assignment in your new job, which is to develop a 1,500-2,000word research report of a product (a product can be a good or service) of your choice in accepted business style, including an executive summary. The assignment focus is to research the market for a product or service to determine whether or not it is a product or service your company would like to sell. The report will serve to brief your manager on critical marketing factors relating to the product. After conducting your research, you will make your professional recommendations to whether or not the company sales team should sell this product or service in both report and presentation format.

You will work on components of this report throughout the course and submit them in the following order:

Final draft of report and presentation (follow outline provided below)

 

Module 7

Please follow this outline as you write your research report:

  1. State your choice of product; provide a rationale (i.e. explain why you chose this product).Use at least three credible academic resources in researching your product. Wikipedia is not considered a credible academic resource for this assignment.
  2. Marketing Mix (the four Ps) Outline the four Ps for your choice of product or service. (Refer to page 9 in chapter 1 of the textbook for additional explanation.)

The Four Ps

Product: a good, service, or idea to satisfy the consumer’s need

Price: what is exchanged for the product?

Promotion: a means of communication between the seller and buyer

Place: a means of getting the product to the consumer

  1. Environmental Scan

Conduct a scan of the environmental forces that affect your product. (Refer to page 60 in chapter 3 in the textbook for additional explanation of an environmental scan.)

Environmental Forces

Social

Economic

Technological

Competitive

Regulatory

  1. Market Segmentation (Refer to chapter 8 in the textbook for additional information.)

Demographics and/or psychographics (choose one or both to describe).

What are the demographics of the market segment(s) for your product?

Describe consumers of your product using a psychographic profile.

  1. Ethical Issue

Use chapter 3 (Ethical and Social Responsibility in Marketing) as a reference in the textbook and the list provided on page 3 of this document. Within your product choice, there are ethical issues. Present both the pros and cons of your choice of an ethical issue and your position on it as it applies to your product. For example, online retail products are impacted by privacy issues and the Internet.

  1. Social Responsibility Issue

Use chapter 3 (Ethical and Social Responsibility in Marketing) as a reference in the textbook and the list provided on page 3 of this document. Within your product choice, there are issues of social responsibility. Present your support or opposition to your position on a social responsibility issue as it applies to your product. For example, should companies that sell certain products commit to cause-marketing, like Coca-Cola does when sponsoring local Boys and Girls Clubs?

  1. Global Marketing and the Internet

Use chapters 7 (Understanding and Reaching Global Consumers and Markets) and 18 (Implementing Interactive and Multichannel Marketing) in the textbook as a framework to discuss how the Internet can be used globally by a company selling your product choice in order to identify new marketing opportunities. New marketing opportunities could include development of new products or the extension of existing products into the marketplace.

What are the benefits? What are the potential problems a company should consider, including cultural considerations?

  1. Recommendation

Make your recommendation as to the best method for marketing the selected product or service.

  1. Executive Summary

An executive summary is a one-page report that provides the reader, usually an executive, with a condensed version of a lengthy report. After reading the executive summary, the reader exercises his or her judgment in deciding whether or not to read the entire report. If the summary is comprehensive, the executive will save time by not having to read the entire report. Write your executive summary after you have completed the research report and present it at the beginning of the completed document.

Executive Summary Format (One Page)

  1. a) State the purpose of the report.
  2. b) In this report, your purpose is to make a professional recommendation, based on information gathered through your research, as to the best method for marketing your particular product or service.
  3. c) Highlight the key facts (gathered through research) that inform or influence your recommendation.
  4. d) Make the recommendation.

Presentation

Create an 8-10 slide PPT presentation designed to deliver the research findings and recommendations in your report to your manager. Your presentation should persuasively demonstrate your position on why the sales team should or should not sell the product or service. Include the notes you would utilize while delivering your presentation.

Possible Ethical Issues

Promotion of “Sin Products,” i.e., alcohol, tobacco, gambling

  • Is it unethical to promote these products? Should there be limits or regulations on the promotion of these products?

Advertising as a Mirror of Society

  • Does advertising reflect a society’s accepted standards, or create new standards?

Government Regulation and a Free Market

  • Should there be regulations in such areas as advertising, product safety, and pricing, or should market forces “self-regulate” companies/industries?

Privacy Issues and the Internet

  • Should there be protection for the user in terms of privacy? Are “cookies” appropriate? Should “opt-in” or “opt-out” be required?

Privacy Issues and Marketing Research

  • What are the ethical and privacy issues in consumer research?

Consumer “Bill of Rights”

  • A product of the early 1960s, is the Consumer Bill of Rights still necessary? Why or why not? If it is necessary, could it be expanded?

Advertising to Children

  • Should there be limits placed,and/or protections enforced, when it comes to advertising to children?

Advertising to “Vulnerable” Consumers

  • What constitutes a “vulnerable” consumer? Should firms be required to provide special considerations or accommodations for such consumers?

Subliminal Advertising

  • What is subliminal advertising? What are the ethical issues involved? Is it effective? Is it used? Examples?

Predatory Pricing

  • What is predatory pricing? Examples? What are the ethical and legal issues involved?

Possible Social Responsibility Issues

Corporate Social Responsibility

  • Should corporations b socially responsible, or should they concern themselves with profit only?

Using Societal Marketing to Promote a Positive Corporate Image

  • Is it appropriate for firms to burnish their image by supporting causes?

Green Marketing

  • What is “green marketing,” and how can it benefit a company?

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