Discussion 1
You should shop for a product made by a foreign firm. Possible choices for this Discussion include ethnic grocery stores (such as Latino stores or Japanese food stores) or chains such as Cost Plus or Pier One that import inexpensive products from other countries. When selecting a product, try to find one that is amusing and has obviously been poorly marketed in terms of packaging, brand name, or general lack of appeal to U.S. consumers. Take notes on these products.
As the foreign marketer of your chosen product, put together a strategy for marketing it in the United States. You have the opportunity to keep the product the way it is or to change it completely. Consider the additional costs associated with changing the product.
Using research from Chapter 5 in your textbook, write your response describing a global marketing strategy for your chosen product covering the following areas:
Checklist: address the following target market questions and those regarding the 4 P's in your postings:
Target market: Who should be the target market in the U.S.? What variables will be used to select the target market?
The 4 P's:
Product: Will any adaptation be made to the product features? What about the packaging? The brand name?
Price: What is a fair retail price for the product?
Promotion: How will the product be communicated to the target market? What promotional message will be used? What media will be used to reach the target market?
(Place) Distribution: Where will the product be sold? Will the product be sold on the Internet?
You might want to take a picture with your cell phone and attach it to your posted response in the Discussion area. You will be surprised at how creative and entertaining this exercise is!
Discussion 2
Watch the following animated explanations https://college.cengage.com/coursemate/marketing/lamb_9781285092508/courseware/animated_figures/ch08/index.html on segmentation of markets to develop a strong understanding of the concepts:
• Understand the characteristics of markets and market segments.
• Understand the criteria for successful market segmentation.
• Understand the bases commonly used to segment consumer markets.
• Understand the steps involved in segmenting markets.
2. Watch the following video on how the Food Network® uses segmentation and target marketing to appeal to consumers: View it here
3. Choose a cooking show from the Food Network® website (2014 Television Food Network G. P.) at: https://www.foodnetwork.com/shows.html to study and answer the questions below.
4. Using research from to help substantiate your understanding of the segmentation and target marketing concepts, answer the following questions related to the segmentation and targeting of consumer markets for your chosen show:
• Identify a minimum of three segmentation bases that might be used to segment the market for your chosen show.
• Describe the specific reasons each of the three segmentation bases might be used to segment the market for your chosen food show.
• Describe the type of target marketing strategy that might be used to reach the consumer for your chosen food show. Discuss the product differentiation strategy used to distinguish your chosen show from the rest of the shows on the Food Network® website (2014 Television Food Network G. P.).
• Describe the most likely positioning base or bases that might be used to appeal to consumers in the target market for your chosen food show.
Discussion 3
What is your favorite brand of sandwich cookie? If you are like most Americans, chances are it is Oreo. In fact, Oreos are so popular that many people think Oreo was the original sandwich cookie. But they are wrong. Sunshine first marketed its Hydrox sandwich cookie in 1908. Hydrox thrived until 1912, when Nabisco (now part of Kraft) launched Oreo. With Nabisco's superior distribution and advertising, Hydrox was soon outmatched. By 1998, Hydrox sales totaled $16 million, while Oreo's revenues were at $374 million. Hydrox has been purchased by Keebler (subsequently purchased by Kellogg), whose elves are trying to give the cookie a major facelift. You are part of the Keebler team deciding what to do with the Hydrox brand.
Activities
Can you re-create Hydrox through a name change? What kind of brand name could compete with Oreo? (Most people unfamiliar with Hydrox think it is a cleaning product.) Develop five (5) possibilities for a new name. Pick the best out of five and give your reasoning.
How can you package your renewed sandwich cookie to make it more attractive on the shelf than Oreo? What about package size? Draft a brief packaging plan for the new Hydrox (or whatever name you chose).
Can you modify the original formula to make something new and more competitive? Will a brand extension work here? Why or why not?
Discussion Post 4
Retailing - Consumer Perceptions
Retailing has an impact on the daily lives of each individual all over the world. Retailing is "all the activities directly related to the sale of goods and services to the ultimate consumer for personal, nonbusiness use" (Lamb et al., 2014, p. 231). After reading Chapter 14, you will obtain a foundation for understanding the importance of retailing within distribution channels, and differences in retailing strategies.
To better understand the relationship between strategic retailing factors and consumer perceptions, you will conduct a simple observation exercise. Follow these three steps to successfully execute this Discussion:
Step 1. Make a Product Decision: Identify a product to shop for, and then identify two stores as places to look for your product. The two stores must be different types of retailers. For example, you can shop for a new HDTV at Best Buy® and at local electronics stores (specialty retailer). Once you have identified what you are looking for and where you are going to look, visit each store and record your observations of specific strategic retailing factors.
Step 2. Make Observations: Visit two retail store locations and record your observations by taking notes on the following topics (NOTE: You do not need to include your observations in your answer post on the discussion board):
Location: Where is each store? How congested is the area of town where each store is located? Does the neighborhood influence your perception of the retail store? Would you travel to this store under normal circumstances? Write a detailed paragraph on the location of each store.
Exterior atmosphere: How convenient is parking? Is parking adequate? How are other issues concerning parking (cleanliness and size of the lot, size of spaces, well-lit, etc.)? What kinds of stores are around the store you are visiting? Do you think being located next to them increases traffic at your store? Are direct competitors nearby? Is the building modern or historic? Is it attractive, clean, and appealing? Is the entrance inviting to shoppers?
Interior atmosphere: Compare the following attributes at each store: aisle width; lighting; number of customers; noise (background music, loudspeakers, etc.); store layout; signage; accessibility of the cashier; number of products available (depth and width of assortment); ability to inspect the product before purchase; quality of the fixtures (shelves, lights, etc.); availability of salespeople and their knowledge about the product; willingness of salespeople to help.
Product: Discover if your product is available. If not, can you locate a satisfactory substitute for your product choice? What is your perception of the product quality being offered? Why do you think as you do?
Step 3. Answer the following questions based on your observations:
Identify the retailer from which you would decide to purchase the product. Discuss why you chose the specific retailer over the competitor.
Discuss the factors that helped you make the decision to purchase the product from the retailer. What are the top three factors that are most important to you in this purchase decision?
If your decision is not to purchase the item from either store, explain why not. Identify and discuss the three most significant differences you observed in comparing the two retail stores.
Discussion 4
Discussion: Pricing-One of the 4 P's
Being up to date with current events is an important part of becoming a business professional. In marketing, it is part of an important responsibility to continuously scan the external environment for opportunities and threats. Execute the following steps to successfully complete this Discussion on the pricing component of the marketing mix:
Step 1: Choose a current events article on pricing from the KU Online Library or from:
•Learn the 4 P's©: https://www.learnthe4ps.com/category/price/
Step 2: Cover the following topics in your Discussion answer in essay format:
•Discuss the key purpose of the article in relation to the pricing component of the Marketing Mix.
•Identify two pricing concepts that you learned from reading this article.
•From the perspective of a professional, what impact does the information on pricing in this article have on the marketplace?
•From the perspective of a consumer, what impact might the pricing concepts in the article have on the buying decisions of consumers?
•How might this information on pricing affect you personally?