Assignment: Social, Ethical, and Legal Implications
Purpose of Assignment
The purpose of this assignment is to help students think through the importance of social, legal, and ethical issues that may arise with their product or service and the implications of decisions made within those frameworks. It is designed to help the learners understand ethical and legal issues related to marketing practices. This knowledge helps to prevent such issues when developing the marketing strategies in their marketing plan. The executive overview of the marketing plan is not a summary and conclusion, but an overview of what the plan entails and what it does not address.
Assignment Steps
Producing and marketing a product without regard to ethical, legal, and social considerations is detrimental to the overall success of any company.
Assess in a maximum of 700 words the ethical, legal, and social issues affecting your product or service in two markets: the United States and one international market. Domestic market generally means the market where the company headquarters are located. If you choose a domestic market that is not the U.S., then your other market is required to be the U.S. marketplace. This should added to the Target Market section of your Marketing Plan.
Include the following: Develop a process to monitor and control marketing performance. This process could be a flowchart but a flowchart is not required (flowcharts do not count towards your word count requirement). Formulate a maximum 350-word executive summary including at a minimum the following elements: Required executive summary elements:
o Strategic Objectives o Products or Services Optional executive summary elements:
o Resources Needed o Projected Outcomes The company I have chosen is Dana Incorporated, and I am focused on the light vehicle axles that are pretty much on most vehicles on the road. It's not a new product, but perhaps we can address growth, maturity, and decline. Here is some info on the company. The company that I have selected to focus on is Dana Incorporated, according to Dana (2016), "Dana is a global leader in the supply of highly engineered driveline, sealing, and thermalmanagement technologies that improve the efficiency and performance of vehicles with both conventional and alternative-energy powertrains. Serving three primary markets - passenger vehicle, commercial truck, and off-highway equipment." The customer profile for Dana Incorporated is split into four segments, light vehicle, commercial vehicle, off highway, and power technologies. Customers include automakers including, Chrysler, Ford, Nissan, John Deere, Military, etc. Dana Incorporated also has a huge aftermarket division that supplies parts to dealers, and auto repair shops. Current opportunities for Dana Incorporated include diversification of products and globalization. Dana has already taken a step in the direction of diversification, which was announced today. According to Street Insider (2017), "Dana Incorporated (NYSE: DAN) today announced a definitive agreement to purchase axle housing and driveline shaft manufacturing operations from U.S. Manufacturing Corporation (USM). Under terms of the agreement, Dana plans to acquire USM's Warren, Michigan, assets in exchange for $100 million in cash. This acquisition will increase Dana's revenue from passenger and commercial vehicle manufacturers and will transition significant purchased content to vertically integrated supply. It will also provide Dana with new product and process technologies for light weighting.