Marketing homework
Question 1
This discussion is based on a typical marketing problem. Assume that you are the product manager for the manufacturer of a well-known brand of corn-based snack products. Seasonal problems have resulted in the cost of your main raw material (corn) going up this year. Even without this problem, the margin for your product is only 4-5% and this product category is very competitive with several strong existing brands. Obviously, you want to maintain this margin so that your company does not start making a loss on this product.
What are your options here (as a product manager)? What are the pros and cons of each option and which option would you finally choose?
Notes:
This is a thought exercise and the topic of this discussion is "ethics", and the subject is "marketing", i.e. you need to approach this from the perspective of the 4 Ps. There may be various ethical implications associated with these options which you need to consider.
Question2
Describe at least one regulation that is aimed at protecting consumers, in product, pricing, distribution or advertising. In your description, include the name of the regulation, whether it is aimed at specific types of consumers or industries, what the objective is, etc. Also find examples (from general or business media sources) of businesses or brands that were affected by the regulation (ideally, the brand/company should be well known; explain the situation and outcome).
Notes:
• You will have to do some secondary research for this question, so please include links or citations of the original source.
• Choose a regulation that is not explained in detail in the book (i.e. they are just mentioned without any description or not mentioned at all). For example, on page 81, the Lanham Act is explained in some detail, so this is not an option.
• A good place to start (among others) would be the FTC website including its Bureau of Consumer Protection business center section.
• Don't copy-paste the text of the law, but try and explain the highlights.