Unit 2 AS#1 Marketing Ethics Companies have a responsibility to market ethically to customers, and to create a company strategy that matches ethical standards. Pretend you are a company executive that...

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Unit 2 AS#1 Marketing Ethics


Companies have a responsibility to market ethically to customers, and to create a company strategy that matches ethical standards. Pretend you are a company executive that has to make decisions regarding how to ethically market your product that you also have reduced the quality to save the company money.



  1. Explain how you would communicate the change in quality of the product to customers, or would you not publicize this information? (note that you are not being graded on your ethical standards, but on how you formulate your marketing plan)

  2. Provide a numerical chart to assess the value added by lowering or increasing the quality of the product (for example: for every $1increase in cost add $5 dollars in value, the opposite could be true as well) Make sure you explain how this would affect your marketing strategy decisions.

  3. Provide an example of a company that was not ethically marketing their product and explain the results of not being ethical.



(30 points)



Please note you are required to show your math work, provide charts, graphs, and explanation for all of your answers to demonstrate your understanding of the concepts. For further information on how to do the problems, please reference the examples utilized in the textbook. If additional assistance should be required, please contact your instructor via email.


Unit 2 AS#2 Market Research


For this assignment, you have to put together a survey in which you will want to gather information from your target market, which you will decide on. You will need to produce:



  1. A name of your survey

  2. A description of your product

  3. 5 questions you will ask people in your target market (note that yes/no answer questions will not get credit for the assignment)

  4. A description of what you hope to find out from conducting your survey. (note that you do not have to actually conduct the research, just submit the survey and descriptions)



(30 points)



Please note you are required to show your math work, provide charts, graphs, and explanation for all of your answers to demonstrate your understanding of the concepts. For further information on how to do the problems, please reference the examples utilized in the textbook. If additional assistance should be required, please contact your instructor via email.


Unit 3 AS#1 Tracking Customers Data


When marketing using online tools and websites, companies will often track the cost-per-click and the cost-per-impression.



  1. Define both terms and how they are useful to a company.

  2. Make a chart of 3 digital marketing channels and use the calculations suggested in the book to do a comparison between cost-pers.

  3. Based on the chart, which channel would you select as the most cost beneficial to your company. Make sure to explain your reasoning behind your decision.



(30 points)



Please note you are required to show your math work, provide charts, graphs, and explanation for all of your answers to demonstrate your understanding of the concepts. For further information on how to do the problems, please reference the examples utilized in the textbook. If additional assistance should be required, please contact your instructor via email.


Unit 3 AS#2 Culture and Diversity


One challenge companies face is having their product appeal to everyone, since certain groups or individuals have their own preferences. Marketing to these groups and individuals can create conflicting feelings about a product or business.



  1. Select a subculture that you are part of and describe how companies specifically market to you. Compare this marketing to how the same business markets to another group or subculture.

  2. Next, explain, from the business’s side, how a company would plan to buy material and create product stock to supply to a specific subculture, not knowing how many units will be demanded. Hint: Use the business buying decision process model to help with your decision.



(30 points)



Please note you are required to show your math work, provide charts, graphs, and explanation for all of your answers to demonstrate your understanding of the concepts. For further information on how to do the problems, please reference the examples utilized in the textbook. If additional assistance should be required, please contact your instructor via email

Answered Same DayFeb 10, 2021

Answer To: Unit 2 AS#1 Marketing Ethics Companies have a responsibility to market ethically to customers, and...

Parul answered on Feb 11 2021
134 Votes
Marketing Management
Marketing Management
Assignment
Unit 2 AS#1 Marketing Ethics
Ans1. Perception of value is most critical aspect of pricing. If consumers do not feel that they are getting value for money then there, is no pricing power and might as well another product in crowd that consumers do not trust or would purchase. A brand and product can have pricing power only if consumers believe in them. Essentially, if consumer believes they are getting value of money they will remain loyal irrespective to price hikes. On the same time, I am a strong believer that deceiving or manipulating customers would always backfire in long run. In fact, it can have disastrous consequences like breaking the long lasting trust of customers. Therefore, leveraging communication I would articulate the difference in the quality of product to the consumers along with the disclaimer this temporary and would regain the original quality at the earliest. Furthermore, explaining the reason of this reduction in quality is related to downturn of company's financials would allow the customer to witness transparency and efforts to keep the customers with true information might strengthen trust in the product and would be fruitful in long run.
Ans2 - Quality essentially implies to the degree or grade of excellence as well as is a barometer for the relative measure of goodness. It is one of the prime factor that can make or break the customer expectations. Numerical chart to assess the value added by lowering or increasing the quality of the products are control charts. Price is the endeavor of value or the amount that client are willing to exchange to receive the offering or products. We can leverage demand curves to highlight the influence of price on the quantity of demand of the product. As per the demand chart, it can highlight either a straight line or a curved line thereby implying quantity of product that customers will purchase in market during time at different prices. Horizontal line displays units or quantity (Q) of product and vertical axis displays different prices. As per the law of demand, if price decreases customers will purchase more products. However, there are exception to this law, when people aspires a product more when it increases in price. These products are generally luxury products in which demand increases with price rise. Furthermore, price elasticity tells us how demand and supply can be influenced by change in price of that product. This can be calculated by plugging in the formula in which change in the quantity to the change in price
Where
Example
It clearly defines that demand of any product would be influenced by the price of product in the economy. For instance, water bottle manufacturing organization that manufactures water bottle decide to decrease its price from $10 to $8.
I will try to calculate the % change in demand of the water bottle quantity.
% change in demand of quantity = (New demand of quantity – Old demand of quantity) *100/Old demand of quantity
% change demand of quantity = (3000 – 2000) *100/2000
% change demand of quantity = 50%
Now, taking the price formula, I will find out the change in price
% change in Price = (New Price – Old Price) *100/Old Price
% change in Price = 8-10*100/10
% change in Price = -20%
I will now find out the Elasticity of demand of the water bottle with respect to price
Elasticity of water bottle demand with respect to price = % change in Quantity Demand / % change in Price
Elasticity of water bottle demand with respect to price = 50%/-20%
Elasticity of water bottle demand with respect to price = -2.5%
Therefore, the price elasticity of demand of water bottle comes out to be -2.5
Demand curve is provided below
Therefore, this clearly explains that demand for water bottles is elastic
.
Ans3 – I have selected the company Volkswagen which was once known for its design and quality auto-product. They were set out to make an improved, "cleaner" diesel. In 2014, it was found that Volkswagen had been deliberately outfitting their vehicles with a "rout gadget" that would permit them to breeze through outflows assessments while really radiating significant levels of nitrogen oxides. They at that point purposely advanced these vehicles as "Perfect Diesel" autos in a fanciful showcasing effort that advanced more than 500,000 vehicles as "Earth Friendly," and sold them at an outstanding cost. FTC depicted this battle as a...
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