Wk 6 Individual: Social, Ethical and Legal Implications [due Mon]

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  1. Purpose of AssignmentThis is the fifth part of the marketing plan that you have been working in the last five weeks. We need to complete the executive overview , and a discussion on the social/legal/ethical issues related to the product/service that you have been working on in this 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.
    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.
    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 will be added to the Target Market section of your Marketing Plan.
    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). Key performance metrics should be suggested.
    Formulate a maximum 350-word executive summary including at a minimum the following elements to include in your marketing plan:
    • Required executive summary elements:
    • Strategic Objectives
    • Products or Services
    • Optional executive summary elements:
    • Resources Needed
    • Projected Outcomes

    Integrate the previous weeks' sections, and incorporate corrections and suggestions from the instructor's weekly feedback. The marketing plan should be a minimum of 3,850 words and include the following:
    • Incorporate Understanding Target Markets (Week 2)
    • Incorporate Product Strategy and the Product Life Cycle (Week 3)
    • Incorporate Price and Channel Strategy (Week 4)
    • Incorporate Marketing Communication and Brand Strategy (Week 5)
    • Incorporate Executive Summary, Legal, Social and Ethical Considerations (Week 6)

    Note: the Social, Ethical, and Legal Implications assignment is part of the total marketing plan as outlined in the grading guide. It is not a separate paper.
    Cite a minimum of three peer-reviewed references.
    Include all peer-reviewed references from the previous weeks' individual assignments in your marketing plan.
    Format your assignment consistent with APA guidelines.
    Submit your assignment.

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Running head: TARGET MARKET RESEARCH Target Market Research Hadasaw A. Price University Of Phoenix 4/7/2019 1 TARGET MARKET RESEARCH 2 Introduction For any given product to gain a competitive advantage and to make good sales in the market, a business organization should have an effective marketing strategy. Effective marketing comprises of understanding of the target market as well as its influences and behaviors. This paper will focus on the target market for Coca-Cola’s Powerade drink. The Secondary Research Demographics The main target market for Powerade is the sports people who take part in intense exercises. Most of the consumers are aged between 15 and 25 years with most of them being students, some at the start of their sports careers and others are well established. The Powerade consumers cover all the social classes; the low, middle and the upper social classes. In addition, the majority of consumers are male and not married. The product is taken across all the races. Psychographics Even though consumer interests vary, a good number of them are competitive and have an interest in sports. Most of the Powerade consumers are experienced. This group is comprised of young, impulsive and enthusiastic consumers. Usually, a great percentage of their income is used on entertainment, socializing and fashion. Their purchases stress on looking good as well as staying cool. They usually let out their energy through outdoor recreation, exercises, sports, and social activities. These consumers are fun and love entertainment. In addition, this group enjoys foods and drinks (Bragg et al., 2018). TARGET MARKET RESEARCH 3 Usually, the consumer group for the Powerade comprises of the teens and young adults. This group moves with new trends in the market. They use social media and thus can know easily what is trending. In addition, this consumer group can be swayed and thus needs a lot of effort to maintain the customer base. Environmental Scanning Numerous factors influence the performance as well as the market of coca cola as a company. This can be well reviewed using SWOT Analysis as follows; SWOT ANALYSIS Strengths • • • • • • • Strong brand name Quality products Ambassadors Loyal customers Athletic endorsements Widely distributed Partnerships Weaknesses • • • Opportunities • • • Market expansion Promotion plan Product expansion Low visibility Online marketing Loyalty to leader brand Threats • • Competition Price wars Strengths Coca-Cola is a strong brand name well known internationally. This gives Powerade a great advantage over their main competitors. Usually, the company is known for producing quality as well as tasty goods. As a result, Coca-Cola has gained loyal customers for its great TARGET MARKET RESEARCH 4 products including Powerade. Powerade drink is widely used in almost all the countries worldwide making the product easily accessible to the customers. The drink has gained endorsement with different sport legends related with it being Derrick Rose, Vince Young, Chris Johnson and Ryan Howard among others (Larson et al., 2015). In addition, the sports drink has partnered with the leading Australian and global sporting bodies thus creating more awareness as well as gaining more customer loyalty. Weaknesses Powerade usually targets the youth who regularly use the internet. When compared to the online marketing of the leading sporting drink brand, Gatorade, Powerade’s online marketing is weaker. Gatorade has many social media followers as compared to Powerade. Powerade has low visibility, more particularly in the non-specialized stores. In addition, Gatorade has a loyal consumer base thus making it hard for Powerade to attract customers from the competitor brand (Bragg et al., 2018). Opportunities One of the great opportunities of Powerade is market expansion. Coca-Cola Company can expand its operations in other nations which it has not reached. In addition, it can expand the product so as to introduce new flavors. The business organization can also use the promotion method so as to create awareness as well as to gain more customers in the markets where the product has not achieved a strong customer base (Gillespie & Riddle, 2015). Threats TARGET MARKET RESEARCH 5 Powerade has been facing great competition from Gatorade Company. In the near future, there might be more stiff competition due to the introduction of new products in the market. So as to maintain the competition, the Coca-Cola Company has been reducing their prices so as to increase its market share. In addition, more competition in the future may result in price wars. The Potential Future opportunities Technology is growing day in day out and Coca-Cola Company can enjoy this advantage by expanding Powerade’s flavors, improving the quality as well as improving the efficiency and the productivity of the company. Secondly, Coca-Cola can expand its operations and make a strong customer base in the nations where the competitors have not invested. It can as well broaden the operations in the markets that it has not reached like Cuba and North Korea. Thirdly, Coca-Cola can use promotions so as to create awareness and increase its customer base in places where the product has not achieved a strong customer base (Larson et al., 2015). Lastly. The company can engage in different partnerships as well as sponsor future global sports. By use of sponsorship method, the company can create more awareness and thus gain more customers as well as customer loyalty because Powerade targets mainly the sports people. TARGET MARKET RESEARCH 6 References Bragg, M. A., Roberto, C. A., Harris, J. L., Brownell, K. D., & Elbel, B. (2018). Marketing Food and Beverages to Youth Through Sports. Journal of Adolescent Health, 62(1), 5-13. Gillespie, K., & Riddle, L. (2015). Global `marketing. Routledge. Larson, N., Laska, M. N., Story, M., & Neumark-Sztainer, D. (2015). Sports and energy drink consumption among a population-based sample of young adults. Public health nutrition, 18(15), 2794. Running header: Product Strategy and the Product Life Cycle Product Strategy and the Product Life Cycle Hadasaw A Price University Of Phoenix Cathy Chen 4/12/2019 The Maasai (my ancient tribe) t-shirt is a tangible consumer good. It is made with cotton fabric in red, black and white colors. These colors are the same ones on the traditional clothing of the Maasai community who are indigenous in some parts of Africa. The Maasai t-shirt will also include some leather patches on its design. This is to be consistent with the signature material used by the company. This product is colorful, stylish and can be worn by anybody no matter their age or background. The t-shirt does not require a high level of technology to manufacture which reduces the cost of production. Owing to the experience of the company and its size, the technology needed is already available. The Maasai t-shirt has a very high chance of success in the African market due to its many positive attributes. Among them is the cultural attachment to a community in the continent. The t-shirt is derived from Maasai traditional wear and then blended in with the signature leather design from Fendi. No other competitor has come close to providing the African market with such a product. The second Product Strategy and the Product Life Cycle 2 attribute that sets the Maasai t-shirt apart from competitors is its favorable pricing. The plain t-shirt goes for $12 while the beaded one goes for $15. These prices are very competitive, and even if a competitor decides to steal the design, they will not be able to match Fendi's pricing. These two attributes among many others set the product apart from all the rest. This t-shirt provides customers with several benefits. One, it is very fashionable and trendy. The customers will get a product that gives them the satisfaction of being fashion forward and trendy. The tshirt also saves customers money. Other outfits out there in the market cost top dime and the customers cannot afford them. The Maasai t-shirt is more pocket-friendly and consumers are comfortable buying even two pieces to match with their partner. The t-shirt provides quality at affordable prices. This product is made from the finest materials and from one of the best companies in the fashion industry which means the quality of the shirt is unbeatable. All these benefits coupled together give the Maasai t-shirt an edge in the market. It is essential for the company to keep reinventing the product strategy as well as the communication strategy during the product lifecycle to increase the product's lifecycle. During the introduction stage in the lifecycle, the product strategy should involve; bringing the product to the new market and selling it at a high but affordable price to make it desirable. The communication strategy will involve; giving information about the product and making sure it reaches as large a market as possible. In this initial stage, the company will do well to connect with the best local supplier or retailer to ensure that the product will be distributed appropriately in the market. (Cui F et al. 2018) In the growth stage when the product starts gaining market share, the product strategy will involve; improvement of the quality and some changes in design to remain attractive to prospective buyers. The communication strategy will involve; vigorous marketing of the product to make sure that the market keeps growing as much as possible to generate profits. Product Strategy and the Product Life Cycle 3 During the maturity stage, the product has already grown, and it now has a good customer base. Therefore, the product strategy will involve; increase in the price to maximize the profits. This increase should, however, be done in moderating to avoid losing customers. The communication strategy will involve; minimizing the communication about the product to reduce the costs involved and ensure a high generation of profits. (Raupp et al. 2012) When the products reach its decline stage, not much can be done to revive it. This is because the customers may have changed their preference or technological advancement has phased out the product. In this stage, product strategy will involve; reducing the prices to try and increase the sales and get rid of the remaining inventory. Another way is to sell the brand to another company to avoid losses. The communication strategy will involve; no communication about the product as this will only increase the costs but will be to no end as the product is already phased out of the market. (Fukunaga G et al. 2016) References Cui F, Hu HH, Cui WT, Xie Y. (2018). Seeding strategies for a new product launch: the role of negative word of mouth. PLoS ONE 13(11): e0206736. Doi: 10.1371/journal.pone.0206736 Raupp, Juliana, Hoffjann, Olaf, (2012). Understanding strategy in communication management. Journal of communication management. 16. 146-161. Doi: 10.1108/13632541211217579 Fukunaga G, Takayasu H, Takayasu M (2016). Property of fluctuations in sales quantities by product category in convenience stores. PLoS ONE 11(6): e0157653. Doi: 10.1371/journal.pone. 0157653 Running head: PRICE AND CHANNEL STRATEGY Price and Channel Strategy Hadasaw A. Price University Of Phoenix 1 PRICE AND CHANNEL STRATEGY 2 Dynamic/ Static Pricing Strategies Maggi is a distribution channel that works with Nestle in the distribution of products. Through having a pricing strategy, Maggi will be able to penetrate the market in the world. Despite the significant number of competitors the market, Maggi will manage to do better with a substantial clear-policy that will determine its prices in the market. The company considering it deals with products such as noodles, sauces, and seasonings, through the pricing it will manage to lower their prices thus attracting many consumers in the market (Yan, 2008). The low pricing strategy is favorable to them bearing that most of the consumers belong to the average middle class which calls for them to charge reasonable prices that will have them buy their products. Similarly, by having to tone down their prices, they will manage to make their products affordable to many people. The approach is helpful to Maggi Company bearing that with administering of high prices; they will scare away the customers at the same time they will favor only a specific class of people which are the first class thereby missing out to reach the entire market. Toning of the prices will thus make it possible for them to maintain a healthy profit outcome where they will make positive changes that will increase their revenue. Maggi, therefore, should work by maintaining their prices without changing them dramatically to cope with the economic times. By the use of the strategy to reduce their quantity instead of their costs will enable them to reach out to both the middle and low-income earners. Pricing Strategies in Different Channels Distribution of products in the market is a strategy that Maggi can initiate by ensuring efficiency and effectiveness is enhanced in delivering the goods. One of their marketing strategies includes the use of a standard pricing strategy in their channels to operate uniformly in all their consumers. Similarly, they should ensure that their products in the distribution channels PRICE AND CHANNEL STRATEGY 3 are of the same quality to maintain their customers. The distribution channels which comprise of the manufacturers, wholesalers, retailer, and the consumers work to meet the market demand. With Nestle having to introduce new products under Maggi, it will be necessary for the company to consider applying the idea of intensive distribution. Through intensive distribution, Maggi Company will promote itself by use of actual pricing which will market their brands through their products. The intensive distribution will influence the pricing in all channels by having low and reasonable charges in the products (Zhang et al., 2010). The use of push and pull strategies will ensure that their products flow in the market with affordable prices placed on all their markets. By use of the policy, they will manage to have contact access with their customers hence leading to gather opinions from them. Through gathering the information, they will be able to come up with a general analysis of the market thus influence their pricing to go in line with the overall demand and market rates. Additionally, Maggi should come up with discounts offered on their products depending on the offers they decide to go for majorly to market them, increase their market and to award their existing customers. The positioning of Distribution in Channels Maggi should operate by having distributors who will act as middlemen between the manufacturers and the consumers. The distributors are at this moment expected to ensure that the goods they acquire from the manufacturers will reach the final consumers while on the good state. Maggi, therefore, should operate with a stock policy among the distributors that will determine how they will manage to reach out to their channels. Here, the distributor has to have a flow of stock averaging to a minimum of three weeks with total monetary value that equal their PRICE AND CHANNEL STRATEGY distribution. By placing an order, the distributor will manage to receive a confirmation within which negotiations will be made, and the retailers at this moment get to be notified on time. The use of a first period will determine the period in which the stock reaches the market. In this case, the quantity ordered will be dependent on the amount of stock available in the warehouse. The return policy will then be issued depending on the products if they have any form of defects including expired dates or any damages (Liu & Cui, 2010).In this case, replenishment will be done in the form of cash which will be refunded after six months to the person who made the purchase. Also, storage policy y is a factor that the company should take note on by ensuring they provide that appropriate equipment’s to keep the products in the right conditions. All the requirements should be submitted to meet the storage conditions of the products. 4 5 PRICE AND CHANNEL STRATEGY References Liu, Y., & Cui, T. H. (2010). The length of the product line in distribution channels. MarketingScience, 29(3), 474-482. Yan, R. (2008). Pricing strategy for companies with mixed online and traditional retailing distribution markets. Journal of Product & Brand Management, 17(1), 48-56. Zhang, J., Farris, P. W., Irvin, J. W., Kushwaha, T., Steenburgh, T. J., & Weitz, B. A. (2010). Crafting integrated multichannel retailing strategies. Journal of Interactive Marketing, 24(2), 168-180. Running head: MARKETING COMMUNICATION AND BRAND STRATEGY Marketing Communication and Brand Strategy University Of Phoenix Hadasaw A. Price 4/27/2019 1 MARKETING COMMUNICATION AND BRAND STRATEGY 2 Branding strategy Creating a Brand Image Coca-Cola Company changed from a cocaine-infused drink in 1886 to a universal sugary drink by 1929. From this time, Coca-Cola worked on creating a brand image which it enjoys up to now. In coming up with brand image, the company began by coming up with a unique market formula. The second way in which Coca-Cola Company created a brand image is by introducing a company logo with timeless font. Additionally, the company came up with a proprietary bottle which differentiated Coca-Cola products of those of the competitors in the market (Budelmann, Kim, & Wozniak, 2010). Maintaining Brand Image Coca-Cola Company has maintained its brand image by use of different strategies. First, the Coca-Cola has maintained its proprietary bottle. The design of the bottle has been used to signal to the consumers that Coca-Cola is a premium product which cannot be confused with other identical clear glass bottles. This makes the products of Coca-Cola to be highly differentiated in the market. In addition, the design of their bottles has been used as a defensive marketing (Budelmann, Kim, & Wozniak, 2010). Additionally, Coca-Cola has been maintaining its brand image by holding its retailers responsible for maintaining high standards. This has helped the brand to be the largest brand in the beverage sector and thus maintaining its brand image globally. Branding Concerns MARKETING COMMUNICATION AND BRAND STRATEGY 3 The primary branding concerns associated with the Coca-Cola Company include the battling sugar and the digital woes. Among the greatest challenges related with Coca-Cola is battling the Cokes sugar demons in progress. The company has to reduce its dependency on the full-sugar drinks because it has already spearheaded the launch of Coca-Cola Life. In the digital woes, TV has been the main advertising channel for Coca-Cola but since the mobile consumption has been increasing gradually, the company has to evolve this approach. Marketing communication strategies Integrated Marketing Communication The promotion/integrated marketing of Coca-Cola Company employs mass media methodology which comprise banner ads, TV advertising and print media. The approach used by Coca-Cola generally uses marketing mix of advertising, web based interactions, direct marketing as well as social media marketing & sales promotion. The Coca-Cola Company strives to have effective communication for the success of its operations. The communication in the company can be done directly or indirectly depending on the urgency of the information and the people communication. In addition, the company also employs other modes of communication to the target customers. The company employs methods like the use of published media which includes magazines, newspapers as well as trade and professional press. In addition, it uses visual media which include television ...
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Running head: SOCIAL, ETHICAL AND LEGAL IMPLICATIONS

Social, Ethical, and Legal Implications
Name
Institution
Date

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SOCIAL, ETHICAL AND LEGAL IMPLICATIONS

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Executive Summary
Coca-Cola Company is a well-known as well as the biggest-selling corporation of soft
drinks internationally and one of the famous brands globally. Coca-Cola Company was founded
in the year 1886 in Georgia by John Pemberton. The company was at first started as a fountain
beverage by mixing of Coca-Cola syrup and carbonated water at Jacob’s Pharmacy. The CocaCola Company was patented in the year 1887 then registered in 1893 as trademark and it was
sold to each state in the US by the year 1895. In the year, the Coca-Cola Company started
franchised bottling activities in the US and then started expanding the bottling activities
internationally in the year 1906 (Baah & Bohaker, 2015).
The Coca-Cola Company seeks to be a well-known leader in the beverage sector for the
local market as well as international market. The strategic plan of Coca-Cola Company is to
align its operating system with the long-term objectives of the organization. In addition, the
company has different responsibilities to the new members who serve as a commitment to
achieving the leadership and development goals. The new roles recognized the international
nature of the customer based and helps in the application of management approach to the
products offered by the Coca-Cola Company.
Coca-Cola Company deals with a variety of products specifically beverage products as
well as services such as packaging. The main aim of Coca-Cola Company is to assist people
around the globe lead healthier lives through the provision of ...

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