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Critical Thinking Exercises
1. Your roommate in the dorm talks on his cell phone incessantly while you’re trying to study. Since you’re a broke college student and it’s too cold to walk to the library, you decide to explore the marketplace for used noise-canceling headphones. How w...
In the Spotlight
Figure 2.1 A team of marketing strategists brainstorm to develop a strategic plan. (credit: modification of work “Design a Better Business Masterclass @ Zoku Amsterdam, October 2017” by Sebastiaan ter Burg/flickr, CC BY 2.0) Chapter Outline 2.1 D...
Key Terms
BCG matrix Boston Consulting Group’s framework for analyzing an organization’s strategic business units business portfolio the group of products, services, and business units that a company possesses business-level strategy outline of the ac...
Chapter Summary
This chapter explores the topic of marketing strategy in more detail. Strategy starts with understanding where a company is, where it wants to go, what the operating environment looks like, and what tools it has to work with or could acquire. The foundation of...
2.5 Ethical Issues in Developing a Marketing Strategy
LEARNING OUTCOMES By the end of this section, you will be able to: 1 Explain the importance of ethical marketing. 2 Describe key ethical considerations in strategic planning. 3 Discuss examples of ethical companies. The Import...
2.4 Marketing Plan Progress Using Metrics
LEARNING OUTCOMES By the end of this section, you will be able to: 1 Define marketing metrics. 2 Explain key performance indicators (KPIs). 3 Provide examples of business objective KPIs. 4 Characterize sales/revenue generation KPIs. 5 Provi...
2.3 Purpose and Structure of the Marketing Plan
LEARNING OUTCOMES By the end of this section, you will be able to: 1 Explain the purpose of a marketing plan. 2 List and discuss elements that should be included in a marketing plan. Purpose and Structure of a Marketing Plan A...
2.2 The Role of Marketing in the Strategic Planning Process
LEARNING OUTCOMES By the end of this section, you will be able to: 1 Explain the role of marketing in the strategic planning process. 2 Discuss the business portfolio and identify planning tools. 3 Describe a SWOT analysis. 4 List and describe...
2.1 Developing a Strategic Plan
LEARNING OUTCOMES By the end of this section, you will be able to: 1 Define strategic planning and list the steps in the strategic planning process. 2 Write an effective vision statement and mission statement. 3 Describe the role of company ...
Assessment Questions
1. Which of these concepts relates to utilitarianism? consequences actions character duty correct answer 1. A 2. True or false? According to the Greek system of logic introduced by Socrates, normative ethical theori...
Building Your Personal Brand
Taking college courses is a huge step forward in your professional development. But there are additional activities that can also impact your self-awareness and provide credentials sought by employers. Campus career center directors, employers, and internship ...
Summary
1.1 Being a Professional of Integrity Ethics sets the standards that govern our personal and professional behavior. To conduct business ethically, we must choose to be a professional of integrity. The first steps are to ask ourselves how we define success a...
Key Terms
business ethics the conduct by which companies and their agents abide by the law and respect the rights of their stakeholders, particularly their customers, clients, employees, and the surrounding community and environment compliance the extent to w...
1.3 Multiple versus Single Ethical Standards
LEARNING OBJECTIVES By the end of this section, you will be able to: Analyze ethical norms and values as they relate to business standards Explain the doctrine of ethical relativism and why it is problematic Evaluate the claim that having a sin...
1.2 Ethics and Profitability
LEARNING OBJECTIVES By the end of this section, you will be able to: Differentiate between short-term and long-term perspectives Differentiate between stockholder and stakeholder Discuss the relationship among ethical behavior, goodwill, and prof...
References
1. Rachel Arthur, “Gatorade, Powerade & BodyArmor: How PepsiCo and Coca-Cola Are Playing in the Sports Drink Category,” BeverageDaily, William Reed, updated March 25, 2021, https://www.beveragedaily.com/Article/2021/03/25/Gatorade-Powerade-BodyArmor-How-...
Closing Company Case
Batdorf & Bronson Coffee is a global drink loved by so many. From the simple espresso in Italy to the cinnamon added in Mexico, coffee is a global beverage. The origins of coffee date back to the ninth century. Legend has it that in a remote part of Ethiopi...
Marketing Plan Exercise
MARKETING PLAN PROJECT—PART I During this course, you will develop a marketing plan as part of a semester-long project. The marketing plan that you develop will build throughout the course over nine chapters of this textbook. The purpose of Part I of this ma...
What Do Marketers Do?
The American Marketing Association (AMA) has teamed up with the Digital Marketing Institute to offer specialized training within the marketing discipline. You can set yourself apart from other marketers with additional certifications. Are there other benefits ...
Applied Marketing Knowledge: Discussion Questions
1. Your university annually evaluates the current and possible value of its strategic business units (SBUs). The university may examine its majors as SBUs, or it may examine each college, school, or division’s performance while recruiting students. Use a...