Description Textbook Dhruv Grewal and Michael Levy (2022) “Marketing” (8th Edition). McGraw-Hi ...
Description Textbook Dhruv Grewal and Michael Levy (2022) “Marketing” (8th Edition). McGraw-Hill Education, Digital Version: ISBN13: 978-1-260-71743-3. 2 attachments Slide 1 of 2 attachment_1 attachment_1 attachment_2 attachment_2 UNFORMATTED ATTACHMENT PREVIEW ???????? ??????? ????????? ?????? ???????? ???????? ???????? ???????????? Kingdom of Saudi Arabia Ministry of Education Saudi Electronic University College of Administrative and Financial Sciences Assignment Marketing Management (MGT 201) Due Date: 03/08/2023 @ 23:59 Course Name: Marketing Management Student’s Name: Course Code: MGT201 Student’s ID Number: Semester: Summer CRN: Academic Year:2022-2023-Summer Semester For Instructor’s Use only Instructor’s Name: Njoud AlJohani Students’ Grade: /Out of 30 Level of Marks: High/Middle/Low General Instructions – PLEASE READ THEM CAREFULLY • • • • • • • • • The Assignment must be submitted on Blackboard (WORD format only) via allocated folder. Assignments submitted through email will not be accepted. The due date for the Assignment is by the End of Week 6 (03/08/2023) Students are advised to make their work clear and well presented, marks may be reduced for poor presentation. This includes filling your information on the cover page. Students must mention question number clearly in their answer. Late submission will NOT be accepted. Avoid plagiarism, the work should be in your own words, copying from students or other resources without proper referencing will result in ZERO marks. No exceptions. All answered must be typed using Times New Roman (size 12, double-spaced) font. No pictures containing text will be accepted and will be considered plagiarism). Submissions without this cover page will NOT be accepted. Learning Outcomes: LO1: To Recognize an understanding of the overall marketing concepts, goals and strategies within the context of organizations goals and strategies. LO2: To Outline an understanding of the global competitive environment and the changing marketing practices. LO3: To Demonstrate the ability to formulate marketing strategies that incorporate psychological and sociological factors which influence consumer’s decision. Assignment Question(s): PART (A): CASE STUDY Max Marks 20 Please read the case study titled “A Flood Of Water Consumption Choices” from Chapter No- 1 “Overview Of Marketing” Page: - 24, and 25 given in your textbook/E-book – “Marketing” (8th ed.) by Dhruv. Grewal and Michael Levy (2022) and answer the following Questions: 1. How does marketing impact the consumption of water, and how has this impact changed since the mid-20th century? (5 marks) (Minimum 250 words) 2. Describe three distinct target markets for drinking water. How does marketing create value for each of these segments using the four Ps; product price, place, and promotion? (5 marks) (Minimum 250 words) 3. How has changing societal values impacted the ways in which water is purchased and consumed? (5 marks) (Minimum 250 words) 4. How has the manner in which you consume water changed in the last five years? (5 marks) (Minimum 250 words) PART (B): Critical thinking Max Marks 10 Reading required: - Read Chapter 1, and 2 carefully and then answer the following questions based on your understanding. 1. Assume you have been hired into the marketing department of a major consumer products manufacturer such as Nike. You are having lunch with some new colleagues in other departments—finance, manufacturing, and logistics. They are arguing that the company could save millions of dollars if it just got rid of the marketing department. Develop an argument that would persuade them otherwise. Chapter-1. (5 Marks) (Minimum 300 words) 2. You are in the job market and have received offers from three very different firms. Develop a marketing plan to help market yourself to prospective employers. Chapter-2 (5 Marks) (Minimum 300 words) Important Notes: • • • Support your answers with course material concepts, principles, and theories from the textbook and scholarly, peer-reviewed journal articles etc. You must include at least 6 references. Use APA style for writing references. Good Luck Answers PART (A) 1. Answer Q12. Answer Q23. Answer Q34. Answer Q4- PART (B) 1. Answer Q12. Answer Q2- 24 Section One ASSESSING THE MARKETPLACE Chapter Case Study ® A FLOOD OF WATER CONSUMPTION CHOICES Studying hard can work up quite a thirst. If you’re ready for a sip of water, what options are you choosing now, especially after having completed this chapter? And what elements inform that choice—whether you are aware of them or not? Let’s start with you, the consumer. Everyone needs water. But beyond the basic human need for fluids, you also want a beverage that is convenient to obtain, not too expensive, readily and regularly accessible, and perhaps cold and refreshing. So that people could meet their basic survival need for water conveniently and constantly, various companies throughout the years have produced different vessels for carrying it, from goatskins in ancient times to military canteens for soldiers in historical wars to Thermoses for kids a few decades ago to highly sophisticated and technical water bottles today.40 But to appeal to their unique needs, marketers also have gone further. For example, to appeal to those who need to carry water in tough conditions, like military battles or hiking the Grand Canyon, marketers have developed and promoted the toughest containers, with guarantees that they can withstand extreme temperatures, powerful impacts, and so forth.41 By meeting these basic needs (e.g., having sufficient water to drink, ensuring safety or survival chances in case of an emergency), reusable water containers provide invaluable benefits. People’s needs and wants certainly go well beyond achieving safety, especially if they do not live in a war zone or pursue extreme sports adventures. Yet the image of such tough consumers is appealing to many groups and target markets, so canteens also were available to Boy and Girl Scouts on easy camping trips. Today’s high-tech water bottles are frequently carried by day hikers and attendees at a local exercise class who are never more than a few feet from safety. They also are sported publicly and purposefully by influential and popular media figures, who humble-brag about their water consumption in response to questions about how they stay so healthy and attractive.42 By offering personalization options (e.g., different colors, monogramming capabilities), these trendy bottles also satisfy people’s needs to create a particular image and express themselves. The products thus have shifted and expanded to meet consumers’ diverse needs. At the same time, the pricing structures have changed, often reflecting societal and ethical norms that prioritize sustainability. Conventional spring water in a single-use plastic bottle is quite inexpensive.43 As we discuss in Chapter 2, corporations are taking great advantage of the availability of spring water as a natural resource. Their costs for the water are quite low, and in turn, they can charge relatively low prices for the liquid contained in their equally inexpensive-to-produce plastic bottles. For some consumers, that offering meets their needs: a basic commodity product at a low price without much consideration of other factors. But for other consumers, the price equation is different. Some are willing to pay $60 to obtain a sustainably produced, reliable, safe water bottle that they can use for years.44 If they really want to signal their prestige, they even What value does this $5,000 Chanel-branded flask with quilted pouch provide to could buy a Chanel-branded flask that customers? comes with its own quilted Chanel Source: CHANEL International B.V. OVERVIEW OF MARKETING CHAPTER ONE 25 pouch for around $5,000.45 They also might seek water that has been filtered or otherwise certified safe, which constitutes a growing concern, as we discuss in Chapter 5. And many people appreciate a variety of product options, like flavored or sparkling versions.46 To produce this variety of products, offered at distinct price points with unique promotions and found in expected places, a wide range of companies compete and collaborate to slake people’s thirst. Water brands like Aquafina (owned by PepsiCo), Dasani (owned by Coca-Cola), and Evian promise different benefits from drinking their products. They also are innovating with different packaging options, including metal cans for water.47 One firm even is developing an algae-based, compostable pod that can hold a single serving of water and then be swallowed or discarded, where it will break down naturally as plant matter.48 In parallel, Hydro Flask, Thermos, Nalgene, Yeti, and other brands that manufacture reusable bottles seek to get consumers to avoid those offerings and instead embrace the idea of water from a tap or fountain. They highlight the distinctive potential associated with carrying one of their bottles, and they strongly emphasize the inherent sustainability of their offering, compared with single-use plastics. Another competitive offering is linked to water refill stations that increasingly appear in public spaces, such as schools and hotels. At these stations, people with their bottles in hand can get a refill of filtered, cold water; those who forgot their favorite bottle can grab a simple, $3 refillable bottle to meet their immediate need.49 So when you take a sip because you are thirsty, what precisely has driven you as a consumer to make the decision? Consider the case questions and the lessons you’ve learned in this first chapter to derive your answer. Questions 1. 2. 3. 4. How does marketing impact the consumption of water, and how has this impact changed since the mid-20th century? Describe three distinct target markets for drinking water. How does marketing create value for each of these segments using the four Ps; product price, place, and promotion? How has changing societal values impacted the ways in which water is purchased and consumed? How has the manner in which you consume water changed in the last five years? Endnotes 1. Lauren Cochrane, “How Reusable Water Bottles Became the New Tote Bag,” The Guardian, August 15, 2017. 2. “This ‘OG’ Water Bottle Has Been on the Market for 70 Years,” Insider, June 24, 2019, www.insider.com/sc/nalgene-anniversary -water-bottle-history-2019-6. 3. Jon Hamilton, “Plastic Additive BPA Not Much of a Threat, Government Study Finds,” NPR, February 23, 2018; Peter Hess, “BPA: Chemicals Used to Replace Toxic Common Plastics Aren’t Safe After All,” Inverse, July 25, 2019. 4. Gerry O’Brien, “Hydro Flask: A Model for Marketing Success,” Herald and News (Oregon), May 26, 2018. 5. Kai Burkhardt, “The Hydro Flask Is a Gen Z Trend We Can Get Behind,” CNN, October 24, 2019. 6. Tim Newcomb, “Why Are Hydro Flask Bottles Suddenly Everywhere?,” Popular Mechanics, February 23, 2019. 7. Tim Newcomb, “Why Are Hydro Flask Bottles Suddenly Everywhere?,” Popular Mechanics, February 23, 2019; Gerry O’Brien, “Hydro Flask: A Model for Marketing Success,” Herald and News (Oregon), May 26, 2018. 8. Lauren Cochrane, “How Reusable Water Bottles Became the New Tote Bag,” The Guardian, August 15, 2017. 9. Kai Burkhardt, “The Hydro Flask Is a Gen Z Trend We Can Get Behind,” CNN, October 24, 2019. 10. “Colder. Hotter. Longer,” Instagram Business, https://business .instagram.com/success/hydro-flask. 11. The American Marketing Association, www.marketingpower .com. 12. https://takeyausa.com/blogs/fitness-healthy-living. 13. The idea of the four Ps was conceptualized by E. Jerome McCarthy, Basic Marketing: A Managerial Approach (Homewood, IL: Richard D. Irwin, 1960). 14. Marlen Komer, “How Much Is Sephora’s In-Store Facial? The Deal Is Too Good to Pass Up,” Bustle.com, May 8, 2018, www .bustle.com/p/how-much-is-sephoras-in-store-facial-the-deal-is -too-good-to-pass-up-9020465. 15. Dhruv Grewal, Anne L. Roggeveen, and Lauren S. Beitelspacher, “How Retailing Cues Influence Shopping Perceptions and Behaviors,” in The Routledge Companion to Consumer Purchase answer to see full attachment Explanation & Answer: 6 Questions User generated content is uploaded by users for the purposes of learning and should be used following Studypool's honor code & terms of service.
