Discussion questions:
DISCUSSION 1
Many non-profit organizations such as universities, churches, government agencies, and charities, are using marketing techniques very similar to the ones used by traditional businesses. Do you approve of this, and are there any issues related to this practice that you would like to raise.
Need to know info about discussion question:
A few hints to get you started (Do not answer by question, but incorporate these into your answer.):
What does marketing mean?
What is marketing success predicated upon?
Where do needs enter?
Does marketing create efficiencies?
What is the purpose of a non profit?
How similar are for profit and non profit firms? How different?
Has society changed?
How do you define ethics?
Finally, individual posts must be within 250 words
DISCUSSION 2
Does marketing convince consumers to develop new desires about products and services they do not need or does it just identify and respond to pre-existing consumer needs? Explain your answer.
Need to know info about discussion question:
Needs are essentially a perceived difference between where you are and where you want to be (either or both the current and desired state maybe changed for need recognition to occur). They are manifest through benefits: a favorable result the buyer receives from the product (What is in it for me?), but they must exceed some threshold to activate behavior (assuming a solution is possible and within economic and temporal resources). Wants are specific alternatives to satisfy that need (few needs, many wants). Internal or external stimuli may trigger them. Environmental and individual differences influence need recognition. Needs may include: love, social image, pleasure, and financial security. Benefits may include: save time or money, peace of mind, happiness, and confidence.
DISCUSSION 3
Read the article "Needing the Unnecessary" by James B. Twitchell. (The article is easily found by conducting an Internet search using the words in the title.) How is luxury defined? Do you agree with this definition and with the role of luxury in society?
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According to Webster's New Universal Unabridged Dictionary luxury is Athe use and enjoyment of the best and most costly things that offer the most physical comfort and satisfaction; anything contributing to such enjoyment, usually something considered unnecessary to life and health."
"Today I wouldn't go to a doctor who drove a Plymouth. I would figure that if she doesn't drive a Lexus, she is having trouble with her practice" (p. 10). Would you take a class from a professor who drove a 1987 Toyota Tercel with almost 274,000 miles?
Are we more or less materialistic after the Great Recession? The near bankruptcy of New York City in the 1970 had a profound impact on me growing up.
DISCUSSION 4
What is the difficulty in measuring the brand equity of a brand like Coca-Cola?
Need to know info about discussion question:
I will start the discussion with a quote (from a coauthor's paper, which I recommend reading): "John Stewart, co-founder of Quaker Oats, put the value of the brand in perspective when he said, ‘If this business were split up, I would give you the land and bricks and mortar, and I would keep the brands and trademarks, and I would fare better than you.' In the same way, a McDonald's CEO opined that ‘a McDonald's board member who worked at Coca-Cola once talked to us about the value of our brand. He said if every asset we own, every building, and every piece of equipment were destroyed in a terrible natural disaster, we would be able to borrow all the money to replace it very quickly because of the value of our brand. And he's right. The brand is more valuable than the totality of all these assets" (Stanton and Herbst 2005, p. 9). And finally, "brands allow the company to charge more than the equivalent commodity or private-label alternative. In other words, a brand is empowering
DISCUSSION 5
Marketing is the same regardless of whether it is for a service/good or e-commerce/brick-and-mortar: it is about research to identify target markets in which you can brand a product and create a competitive advantage. Do you agree with this statement? Support your position
Need to know info about discussion question:
Trust is the currency of all exchange.
Marketing research is the fertilizer for success. Through information, marketing research links marketers to consumer, customers, and the public.
Segments can be identified for online and brick-and-mortar retailers.
DISCUSSION 6
Can we use the concept of price elasticity to identify a brand's competitors? How would that work?
Need to know info about discussion question:
You need to distinguish between elastic (very price responsive) from inelastic (unresponsive to price changes). Economists use the term ceteris paribus when defining elasticity, which means holding everything else constant. How do you hold everything constant in the real world?
What is the impact of brand loyalty on price sensitivity?
Discussion 7
You want to introduce a new product. You already have a successful brand in a different product category than the new product you plan to introduce. You are contemplating using the same brand name (brand extension) for the new product. What factors should you consider before making this decision?
Need to know info about discussion question:
This question relates to line extensions from last week's question (Klassy Kitchen) and PharmaSim. Here are definitions from the text. A brand extension uses the existing brand name in a new product category, while a line extension is used in an existing category to extend the brand name to new sizes, flavors, etc. (Kotler and Keller, 2012). The consumer adoption process is helpful in answering this question. Finally, results may be bi-directional.
Discussion 8
Review all group reports and comment on one key strategic move that led to each competitor's success or demise. Please substantiate your answer.
Need to know info about discussion question:
You should focus on causal relationships and actionable results. How could you help someone about to embark on PharmaSim succeed or fail? What did groups do to improve or detract from performance? Are the lessons learned applicable to the real-world? Because of your time invested in the simulation, this is usually a stimulating and informative discussion. You should refer to specific groups when commenting and citations are NOT required this week. You still need a minimum of three posts, and congratulating your teammates, a worthy endeavor, does not count as a post.