Assignment:
Global Social Responsibility & Pricing
Introduction: Marketers should constantly look for ways to be socially responsible and to provide quality products at a price reasonable to their customers. This Newsweek Video case is an interview (two videos) with Jeff Kindler, Chairman of Pfizer, Inc. His interview responses offer insights into the benefits and challenges of social responsibility, pricing policies, and brand image in a diverse global marketing environment.
About Jeff Kindler Chairman of Pfizer, Inc.:
Mr. Kindler serves as Chairman of Pfizer Inc. since December 19, 2006. He is Chief Executive Officer since July 31, 2006; Vice Chairman and General Counsel from March 2005 to July 30, 2006; Executive Vice President and General Counsel from April 2004 to March 2005; and Senior Vice President and General Counsel from January 2002 to April 2004.
Prior to joining Pfizer, Mr. Kindler served as Chairman of Boston Market Corporation from 2000 to 2001, and President of Partner Brands during 2001, both companies owned by McDonald's Corporation. He was Executive Vice President, Corporate Relations and General Counsel of McDonald's Corporation from 1997 to 2001, and from 1996 to 1997 served as that company's Senior Vice President and General Counsel. Member of the U.S.-Japan Business Council and the Boards of Trustees of Ronald McDonald House Charities and Tufts University.
He serves as Director of Pfizer Inc. since July 2006. Mr. Kindler is Chairman of the Board's Executive Committee and a member of the Pfizer Executive Leadership Team.
Assignment:
Response the following questions:
• What are some of the challenges marketers should consider when designing their pricing strategies?
• Should different pricing approaches be utilized in different countries?
• How can a company such as Pfizer balance the costs associated with communicating the benefits of their products with the target markets desire for reasonable prices?
• Within your response, include a relevant sentence or two quotes from our Kotler and Keller Marketing Management text to support your view.
Video 1 is related to social responsibility in establishing pricing policies in the developing world. (Transcript)
Video 2 is related to social responsibility in balancing the challenges inherent in marketing a business while keeping prices reasonable.(Transcript)