WEEK 1:
The Power of Marketing
Marketers cannot create demand or make people buy things that they donâ€t want or need. However marketing is designed to persuade, inform, and remind people about the availability, choices, features, and advantages associated with new and existing products/services.
A friend of yours agrees with the following adage, “People donâ€t know what they want, they only want what they know.†Write a one-page paperexpressing the extent to which you think marketers shape consumer wants, needs, and must haves.
Before you get started on that one page paper take the time to review the following video link: http://www.youtube.com/watch?v=wK_hxXAYVzA It is a video authored by famous Co-Founder of Apple, Steve Jobs and his insights into the marketing world and how marketing = values and living in a noisy world.
WEEK 2:
A Project to Fail
The world of marketing is multifaceted and offers unending challenges that require creative thinking to make a difference. For this weeks assignment I offer the challenge for you to look around your city/neighborhood for a product or business that has failed in the marketplace. What happened to cause this business or product to fail? This assignment is meant to get you thinking outside the box, and to have fun and be creative. There is no right or wrong answer. Building a better mousetrap wonâ€t guarantee success, and this assignment drives this message home.
Through this assignment you will learn that failure is a valuable learning tool and that many great ideas are born from the experience of failure are well on the road to success. Through this assignment you will be able to showcase the knowledge you gained from this weeks reading and lecture on the first element of the marketing mix, “Productâ€, and if you choose you can use the product life cycle to assist you in explaining how the business/product failed.
Option 1 – Get Creative
Design and format a 10 – 15 slide Microsoft PowerPoint presentation. The requirements below must be met for your presentation to be accepted and graded:
Design and format each slide for a presentation, see example below.
The notes sections must total a minimum of 250 words for the entire presentation. Use these sections to explain and support information provided on your slides.
Include a cover slide and reference slide (these slides do not count toward the 10 – 15 slide requirement).
At least 80% of your presentation must be original content/writing.
No more than 20% of your content/information may come from references.
Use at least two references from outside the course material, preferably from EBSCOhost. Text book, lectures, and other materials in the course may be used, but are not counted toward the two reference requirement.
Identify sources on slides that contain reference material (data, dates, graphs, quotes, paraphrased words, values, etc.) and list them on a reference slide.
Reference material (data, dates, graphs, quotes, paraphrased words, values, etc.) must be from sources like scholarly journals found in EBSCOhost, online newspapers such as The Wall Street Journal, government websites, etc. Sources such as Wikis, Yahoo Answers, eHow, etc. are not acceptable.
WEEK 5:
Ethics and Pricing
People feel better when they think they are getting a great bargain when they shop. Knowing this, some retailerâ€s markup items above the traditional retail price and then offer a 60 percent discount. If they had simply discounted the normal retail price by 20 percent, the resulting “sale price†would have been the same. One retailer says that he is just making shoppers happy that they got a great deal when he inflates the retail price before discounting.
Significantly marking up prices in order to offer “deep discounts†is not an unethical pricing practice per se, but it may be considered misleading advertising. The retailer is not really reducing its profits as a result of offering the sale price, even though a 60 percent discount implies a financial sacrifice on the part of the retailer for the benefit of the customer.
The situation described above could, perhaps, be considered a sales promotion that uses deception or manipulation.
As a consumer think of a place you like to shop at because of the so-called great bargains, coupons, cash back and or discounts they offer.
From your shopping experience explain if the discounts you received on your purchase you feel was a bargain deal or do you feel you overpaid.
Did you believe the retailer is sacrificing revenue for you the consumers†benefit?
Why or Why not?
Do you find their sales practices to be ethical and beneficial to the consumer or perhaps unethical and misleading?
The requirements below must be met for your paper to be accepted and graded:
Write between 500 – 750 words (approximately 2 – 3 pages) using Microsoft Word.
Attempt APA style, see example below.
Use font size 12 and 1†margins.
Include cover page and reference page.
At least 60% of your paper must be original content/writing.
No more than 40% of your content/information may come from references.
Use at least two references from outside the course material, preferably from EBSCOhost. Text book, lectures, and other materials in the course may be used, but are not counted toward the two reference requirement.
Reference material (data, dates, graphs, quotes, paraphrased words, values, etc.) must be identified in the paper and listed on a reference page.
Reference material (data, dates, graphs, quotes, paraphrased words, values, etc.) must come from sources such as, scholarly journals found in EBSCOhost, online newspapers such as The Wall Street Journal, government websites, etc. Sources such as Wikis, Yahoo Answers, eHow, etc. are not acceptable.
WEEK 6:
Consumer Buying Behavior
Read the following Case Assignment: Ebay
Creating Customers on the Move The advent of mobile commerce (m-commerce) has begun to create significant changes in the way consumers make purchasing decisions. The introduction of online shopping first began to draw customers away from brick-and-mortar retailers, changing the location of where they made their purchases. The use of mobile devices has expanded the location of purchase decisions even further, so now consumers can make purchases from almost anywhere, so long as they have a mobile device with them. It also has leveled the playing field for consumers in many cases, as it allows them to comparison shop on prices of products that they might find in stores.
In 2009, the mobile commerce market generated $18.3 billion in total revenue. By 2015 itâ€s projected to reach over $119 billion. When it comes to m-commerce, eBay has jumped in with both feet. It is estimated to hold about 3.3 percent of m-commerce, compared to online retailer Amazonâ€s 1.5 percent. It also was estimated to sell $1.5 billion in goods via m-commerce in 2010, compared to $600 million in 2009. eBay launched its first mobile application for the iPhone in July 2008 and has since produced 14 apps, including eBay Selling, StubHub, Deals, and Fashion. eBayâ€s core iPhone application has been downloaded 14 million times, and its entire stable of apps has seen over 30 million downloads worldwide. Purchases range from clothing and accessories to sporting event and concert tickets, computers and technology gadgets, collectables, and even luxury automobiles. Research indicates that more than half of regular m-commerce purchasers are comfortable spending over $100 on a mobile purchase, and 14 percent are willing to spend over $1,000.
eBay has been quick to embrace the trend toward comparison-shopping, as potential buyers compare in-store prices online with those offered by other retailers. In June 2010, eBay purchased RedLaser, a mobile app that uses the cell phone camera to identify a productâ€s barcode and locate that product within eBayâ€s system.
If a buyer is searching for a certain designer jacket for example, he could compare prices between eBayâ€s auctions, flat priced buy-it-now options, and eBayâ€s Fashion Vault, which offers limited-time deep discounts on select high-end merchandise.
But while eBay has excelled in m-commerce so far, its ability to fully capitalize on this growth potential depends on how it is able to influence consumer-purchasing decisions. Merely allowing consumers to search for items, compare prices, and then make a purchase isnâ€t enough. As eBay VP of mobile platforms Steve Yankovich says, “We want consumers to engage when they donâ€t have a purchase in mind.â€
The combination of apps with mobile devices enables browsing and purchasing virtually anywhere at any time, especially during downtime—say when the potential buyer is getting a haircut or waiting in line at the coffee shop. By enabling buyers more opportunities to shop and make purchases, eBay is hoping to spark purchases based on the buyerâ€s immediate situation. The eBay Fashion app is designed to inspire browsing and experimentation, offering features such as a clothing-focused search function, a virtual closet to save various finds, and a mix-and-match feature that allows users to pair up articles of clothing with various accessories. Users can even take a picture of themselves using the phone camera and the Fashion app will superimpose the outfits they create over their figure, allowing shoppers to digitally “try on†the looks. So if a purchaser saw a dress she liked at a party, she could “try it on†and match it up with accessories in her wardrobe. eBay is planning to release even more apps like eBay Fashion, targeting key eBay shopping demographics such as car enthusiasts and home-and-garden enthusiasts.
Early trends suggest that shoppers are responding to eBayâ€s efforts as well. As eBay has continued to develop the offerings of the eBay Fashion app, average user browsing time on the app has increased by 40 percent since its original release and mobile fashion sales tripled over the past year. If nothing else, the new trends in m-commerce move very quickly, and eBay must continue to innovate if it wants to stay ahead of the game. Says Yankovich, “Nobody knows whatâ€s going to happen in mobile. We need to be ready to spin on a dime.â€
Answer the following:
Which stages of the consumer decision-making process are affected most by comparison shopping on mobile platforms? Explain.
Technology has drastically altered the consumer buying behavior, today as consumers we have the luxury to browse and shop virtually anywhere at anytime. What are your thoughts on being able to shop 24/7 virtually?
Do you find yourself shopping online more as opposed to the traditional shopping method of visiting the store during store hours? Why or Why not?
What are your thoughts on Black Friday in store deals versus Cyber Monday, do you find one to be more beneficial to the consumer than the other?
The requirements below must be met for your paper to be accepted and graded:
Write between 500 – 750 words (approximately 2 – 3 pages) using Microsoft Word.
Attempt APA style, see example below.
Use font size 12 and 1†margins.
Include cover page and reference page.
At least 60% of your paper must be original content/writing.
No more than 40% of your content/information may come from references.
Use at least two references from outside the course material, preferably from EBSCOhost. Text book, lectures, and other materials in the course may be used, but are not counted toward the two reference requirement.
Reference material (data, dates, graphs, quotes, paraphrased words, values, etc.) must be identified in the paper and listed on a reference page.
Reference material (data, dates, graphs, quotes, paraphrased words, values, etc.) must come from sources such as, scholarly journals found in EBSCOhost, online newspapers such as The Wall Street Journal, government websites, etc. Sources such as Wikis, Yahoo Answers, eHow, etc. are not acceptable.
WEEK 7:
Ethics in Commerce
Sparrow Pharmaceuticals is the maker of several popular drugs used to treat high blood pressure and arthritis. Over time, the company has developed a positive relationship with many of the patients who use its medications through a quarterly newsletter that offers the latest information on new medical research findings and general health and fitness articles. The company just has been acquired by a group of investors who also own Soothing Waters Hot Tubs and Spas. The marketing director for Soothing Waters would like to use Sparrowâ€s mailing list for a direct-mail promotion.
Ethics Questions:
What should Sparrow Pharmaceuticals do?
Do you think it is ethical to use customer information across multiple divisions of the same company? Explain.
To which marketing management philosophy do you think the marketing director for Soothing Waters subscribes? Explain.
Does the AMA Statement of Ethics address the use of the customer information by multiple divisions of the same company? Go to http://www.marketingpower.com and review the statement. Then write a brief paragraph on how the AMA Statement of Ethics relates to Sparrow Pharmaceuticals†dilemma.
(To locate the Statement of Ethics students would go to http://www.marketingpower.com and in the top right corner they would select, “About AMA,†and underneath “About AMA,†there are several Gray tabs to choose from, select “Statement of Ethics,†and begin to review the Statement of Ethics.)
The requirements below must be met for your paper to be accepted and graded:
Write between 500 – 750 words (approximately 2 – 3 pages) using Microsoft Word.
Attempt APA style, see example below.
Use font size 12 and 1†margins.
Include cover page and reference page.
At least 60% of your paper must be original content/writing.
No more than 40% of your content/information may come from references.
Use at least two references from outside the course material, preferably from EBSCOhost. Text book, lectures, and other materials in the course may be used, but are not counted toward the two reference requirement.
Reference material (data, dates, graphs, quotes, paraphrased words, values, etc.) must be identified in the paper and listed on a reference page.
Reference material (data, dates, graphs, quotes, paraphrased words, values, etc.) must come from sources such as, scholarly journals found in EBSCOhost, online newspapers such as The Wall Street Journal, government websites, etc. Sources such as Wikis, Yahoo Answers, eHow, etc. are not acceptable.
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