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Part 1: Challenges to Present-Day Marketers 0.5-1 page answer
1. In your own words, identify three of the greatest challenges to present-day marketing managers. Do NOT refer to the text, or any outside reference.
2. Provide a real-world example of each of the challenges you identified.
3. For EACH of the examples you gave, provide a recommended solution (or solutions) to overcoming the challenge.
Part 2: (1 page answer)
Healthy Happy Homes
After two decades of real estate investing, Healthy Happy Homes’ owner wanted to combine two personal passions: real estate and living a quality, healthy life. After creating a Healthy Home Checklist to review the environmental quality of the living space (i.e., fabric, floor, cleaning supplies, air quality, area hazards, etc.), Healthy Happy Homes provides consultations with renters, current owners, potential buyers/ sellers to analyze and improve the quality of the living environment to guide purchasing and/or renovation decisions.
In addition to the Healthy Home Checklist, Healthy Happy Homes has generated a content-based educational series on social media and speaking events to inform business and individuals about seeking, developing, and maintaining a quality living environment.
To complement the mission, Healthy Happy Homes has compiled a database of businesses and contractors that provided checklist-approved quality environmental services such as organic fabric window treatments, clean air floors, organic cleaning supplies, and quality construction materials.
Mission:
To empower/enable the highest quality of living in the purest environment
Healthy Happy Homes has a mission statement yet is missing the goals that will serve in the development of measurable, achievable objectives for growing its business. Using the sample mission and goals in the example case a model (example on next page), and after reviewing the description of Happy Healthy Homes, write three to five goals with bullet points.
As you are working on your objectives, consider these guiding questions:
Mission: Big picture vision
· Does mission describe the overall “why” a company exists?
· What unique vision does the Mission Statement describe?
· What core values and principles does the company represent?
Objectives: Measurable, obtainable outcomes
· How does your company maintain profitability?
· How does your company present customer service?
· What core values define your company’s growth, marketing, and interaction?
· What aspects of managing change and marketing are important to your company?
· What expectations do you have for your company and customer interaction
Sample Mission and Objectives
Realty Business Leaders (RBL)
RBL began in 1996, to provide supportive digital technology solutions for professionals in the real estate industry. They serve agents, brokers, and investors in both residential and commercial applications. They provide
CHAPTER 2:
Marketing Foundations: Global, Ethical, sustainable
McGraw-Hill Education
Part 1: Discover Marketing Management
Copyright © McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education.
1
Learning Objectives
Identify the various levels in the Global Marketing Experience Curve.
Learn the essential information components for assessing a global market opportunity.
Define the key regional market zones and their marketing challenges.
Describe the strategies for entering new global markets.
Recognize key factors in creating a global product strategy.
Learn the importance of ethics in marketing strategy, the value proposition, and the elements of the marketing mix.
Recognize the significance of sustainability as part of marketing strategy and the use of the triple bottom line as a metric for evaluating corporate performance.
2
©McGraw-Hill Education. All rights reserved. Authorized only for instructor use in the classroom. No reproduction or further distribution permitted without the prior written consent of McGraw-Hill Education.
2
Marketing Is Not Limited By Borders
Worldwide distribution networks, sophisticated communication tools, greater product standardization, and the Internet have opened world markets.
Large and small companies do business globally.
Opportunities are greater than ever but so are risks.
Global customers needs may lead to product adaptation.
3
©McGraw-Hill Education. All rights reserved. Authorized only for instructor use in the classroom. No reproduction or further distribution permitted without the prior written consent of McGraw-Hill Education.
While the opportunities have never been greater, the risks have also never been higher. Global marketing mistakes are expensive. The international competitive landscape includes sophisticated global companies as well as successful local organizations. The operating environment varies dramatically around the world creating real challenges for companies moving into new markets. Global customers demand different products, which means that successful products in a company’s local market frequently have to be adapted to new markets.
3
The Global Experience Learning Curve
4
©McGraw-Hill Education. All rights reserved. Authorized only for instructor use in the classroom. No reproduction or further distribution permitted without the prior written consent of McGraw-Hill Education.
Four distinct stages:
No foreign marketing
Foreign marketing
International marketing
Global marketing
The global experience learning curve moves a company through four distinct stages: no foreign marketing, foreign marketing, international marketing, and global marketing. The process is not always linear; companies may, for example, move directly from no foreign marketing to international marketing without necessarily engaging in foreign marketing. In addition, the amount of time spent in an
Chapter 1:
Marketing in Today’s Business
Milieu
Part 1: Discover Marketing Management
1-1
McGraw-Hill Education
Copyright © McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education.
1
Learning Objectives
Identify typical misconceptions about marketing, why they persist, and the resulting challenges for marketing management.
Define what marketing and marketing management really are and how they contribute to firm success.
Appreciate how marketing has evolved from its early roots to be practiced as it is today.
Recognize the impact of key change drivers on the future of marketing.
1-2
©McGraw-Hill Education. All rights reserved. Authorized only for instructor use in the classroom. No reproduction or further distribution permitted without the prior written consent of McGraw-Hill Education.
2
Welcome to
Marketing Management
Marketing is relevant to everyone across all business functions.
Marketing your “personal brand” helps you land a job or promotion.
1-3
©McGraw-Hill Education. All rights reserved. Authorized only for instructor use in the classroom. No reproduction or further distribution permitted without the prior written consent of McGraw-Hill Education.
Source: Toyota Motor Sales, U.S.A., Inc.
3
Marketing Misconceptions
Catchy and entertaining advertisements.
Pushy salespeople.
Spam to your e-mail or smartphone.
Famous brands and their celebrity spokespeople.
Product claims that turn out to be overstated or just plain false.
Marketing departments “own” the marketing initiative.
1-4
©McGraw-Hill Education. All rights reserved. Authorized only for instructor use in the classroom. No reproduction or further distribution permitted without the prior written consent of McGraw-Hill Education.
4
More Marketing Misconceptions
Marketing is all about advertising.
Marketing is all about selling.
Marketing is all about the sizzle.
Marketing is inherently unethical and harmful to society.
Only marketers market.
Marketing is just another cost center in a firm.
1-5
©McGraw-Hill Education. All rights reserved. Authorized only for instructor use in the classroom. No reproduction or further distribution permitted without the prior written consent of McGraw-Hill Education.
Realities:
Advertising is just one way that marketing is communicated to potential customers.
Marketers have to decide on a mix of marketing communication approaches that (in addition to advertising and personal selling) might also include public relations/publicity, sales promotion, and direct marketing.
Marketing also has aspects that involve sophisticated research, detailed analysis, careful decision making, and thoughtful development of strategies and plans. For many organizations, marketing represents a major investment and firms are naturally reluctant to invest major resources without a reasonable level of assurance of a satisfactory pa
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