In 2010, the U.S. Centers for Disease Control and Prevention projected that by 2050, one in three Americans would have diabetes (HealthDay, 2010). On the one hand, for organizations such as food producers and restaurants specializing in high sugar, fat, or calorie foods, this health crisis is a problem that threatens the survival of the organizations.
On the other hand, some organizations have perceived such problems as challenges they have turned into opportunities: For example, food producers may work to remove trans-fats and other "bad" ingredients from their product line. A company may also make more high-protein snacks and fewer high carb ones, for example. Or, other companies may be assessing the potential success of a new line of home exercise equipment, yoga studios, workout facilities, exercise software, calorie counters, step counters, juice bar franchises, etc.
Marketers must pay attention to marketing implications that differ across cultures and geographic boundaries as well as trends over time.
How consumers react to a new product or service may determine a company's success or failure.
For this week's Application, you will examine a current marketing challenge faced by a business or industry. You will conclude your paper by proposing solutions to resolve or mitigate the challenge you have identified.
To prepare for this Assignment:
Research reputable business publications for a marketing challenge or problem described in a recent (no older than six months) issue.
Suggested publications include Bloomberg Business Week, the Wall Street Journal, or other respected business publications. If you are not sure if a publication is a good source, please consult your Instructor.
Consider whether the challenge is related to a failure to utilize an innovative strategy correctly or whether a traditional marketing strategy has failed to innovate and adapt in the current competitive environment, for example