How are emotions contributing to unusual buying behaviors, such as hoarding, during this coronavirus outbreak? What measures did online retailers such as Amazon take to combat the price-gouging linked to the Coronavirus panic?

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As fears over the coronavirus grow, people are frantically buying up supplies and leaving store shelves empty. Prices are also sky-rocketing online as demand grows, such as two large bottles of Purell hand sanitizer on sale for nearly $300 on Amazon. The same size normally sells for about $9 a bottle. An Amazon spokesperson says the company does not allow price gouging and it has “recently blocked or removed tens of thousands of offers.” The teaching note discusses how consumer emotions and motivations are driving hording behaviors as well as efforts by Amazon and policy makers to discourage price-gouging by retailers.

Discussion Questions and Answers:

  1. Disasters such as epidemics or natural disasters put particular strains on the world economy, causing volatility in financial markets as well as sudden scarcity of the needed products and services that experience heightened demand due to crisis conditions. Thinking about this from a consumer behavior perspective, how are human motivations driving this phenomena?
  2. How are emotions contributing to unusual buying behaviors, such as hoarding, during this coronavirus outbreak?
  3. During the initial phases of the Coronavirus outbreak, there was an unprecedented boom in the demand for hand sanitizers and medical face masks. Such frantic demand made it possible for bad actors to buy up the limited supplies of these goods and resell them online for many times their normal prices. What measures did online retailers such as Amazon take to combat the price-gouging linked to the Coronavirus panic?
  4. In addition to the sought-after items being sold for exponentially more online, there has also been a spate of price-gouging and customer hording in brick-and-mortar stores within highly populated areas. For many items, it is very difficult to keep the shelves stocked. The onslaught of demand has led some store owners to raise prices on certain items to discourage hording, thereby enabling more customers the opportunity to purchase the items. In your view, is this approach ethical? Where do you draw the line between efforts to ensure greater customer access to goods and price gouging? Are there other approaches retailers might take to ensure that more customers have access to key goods?

Do research and analyze based on their current situation. Look for investor relations for the best information from the company web sites (e.g., corporate.hasbro.com/en.us or investors.fedex.com).

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  • Select one of the following companies for this assignment:  Hasbro or FedEx.  Do research and analyze based on their current situation. Look for investor relations for the best information from the company web sites (e.g., corporate.hasbro.com/en.us or investors.fedex.com).

These are public companies with a lot of information available.  The best information on their web sites is usually under Investor Relations (often in small print at bottom of the home page).

A 10-K (or annual) report is also a great resource.  For external analysis, you will need to search articles about the industry or other trends that could affect the company (searchable databases in the library – see link in Canvas).  Also use the textbook if you need explanation and examples of the terms used in the outline.

Why do large companies encourage many of their employees to “think like entrepreneurs”? Why is “management” regarded by some people as an essential life skill? Some business owners make a statement such as, “We’re too busy to bother with strategy

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Respond to the following questions . Incorporate the concepts and information from the lectures notes and slides-hare presentations in your answers.

• In addition to a paid job, where else might a person develop managerial experience?

• Why do large companies encourage many of their employees to “think like entrepreneurs”?

• Why is “management” regarded by some people as an essential life skill?

• Some business owners make a statement such as, “We’re too busy to bother with strategy. We have to take care of the present.” What might be wrong with this reasoning?

• Visit your favorite company’s website and perform a SWOT analysis. Use BULLET POINT FORMAT for your response.

• Use the lecture notes and supplementary learning materials to prepare goals for a call center customer-service worker who is responsible for resolving call-in problems about digital cameras.

Why was a marketing plan important to Caribou as they enter the market?What do you think are two of Caribou’s internal strengths and weaknesses? Also, identify two opportunities for and two threats to the company’s success. Explain your answers.

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The Joh. A. Benckiser Group, bought a majority stake in Peet’s Coffee & Tea Inc. in Dec 2012 and acquired Caribou Coffee Co. Inc. in a deal valued at approximately $340 million.  To the consumer there should be no change in the brand.  Do you see this acquisition a positive for Caribou Coffee?

The below questions relate to Caribou Coffee’s initial start-up as a business.

  1. Why was a marketing plan important to Caribou as they enter the market?
  2. Industry leader Starbucks has decided to pursue further sales growth by distributing its branded coffee through retail stores and expanding into the Latin American market, beginning with several outlets in San Juan, Puerto Rico. Should Caribou Coffee under the new management implement a similar growth strategy? Do you think that opening a drive-through window or putting a Caribou shop inside upscale food stores and SuperTarget outlets would be good strategies for Caribou marketers to consider?
  3. What do you think are two of Caribou’s internal strengths and weaknesses? Also, identify two opportunities for and two threats to the company’s success. Explain your answers.
  4. What types of environmental characteristics might influence Caribou’s strategic decisions during the next five years?

Are there practical tools shared to be of value in practice? Is it interesting and does it capture the viewer’s attention? Does the presentation tie in key class concepts?

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You will be responsible for finding current event topics relating to marketing that are of interest to you. It can be on anything as long as there is a marketing angle to it. Research your topic and prepare a multimedia presentation that you will post here to share with the class.

Hot Topics Instruction Presentation:

You will be responsible for finding current event topics relating to marketing that are of interest to you. It can be on anything as long as there is a marketing angle to it. Research your topic and prepare a multimedia presentation that you will post to share with the class. You will have up to 4 minutes total.
After you link or attach your presentation/video, please view and comment on at least 2 of your classmate’s presentations/video.

Is it interesting and does it capture the viewer’s attention? Does the presentation tie in key class concepts?
Is the topic relevant to marketing?
Does the presentation advance the class’s knowledge of marketing? Are group members knowledgeable of the topic and context?
Are there practical tools shared to be of value in practice?

Identify at least four criteria for assessment of social media. Identify four tools you might use to assess the success of your Social Media Plan using the Readings as well as other resources

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Organizations may spend substantial time and money on social media campaigns. But, how do they know if their efforts are working? They use assessment tools that are often built into the social media platforms to assess to what extent their social media plans are accomplishing their goals and objectives.

Businesses and organizations may invest in social media as a promising tool to promote, inform, and persuade audiences, but they want evidence there is a return on their investment. Social media analytical tools are one way organizations can gain insight into which messages via specific channels reach target audiences. An ever-increasing number of tools can potentially be used to track nearly every online activity and collect an enormous amount of data. However, organizations must take care not to become overwhelmed by the myriad of options. They must carefully select and assess only those criteria that can serve as indicators that the organization’s goals are being met. The right criteria can provide insight into industry patterns that are relevant to organizational goals. Organizations also must select the right tools that can assess these criteria accurately.

  • Identify at least four criteria for assessment of social media.
  • Identify four tools you might use to assess the success of your Social Media Plan using the Readings as well as other resources.
  • A description of each of the four criteria and tool you researched and its purpose.
  • An explanation of why you selected those criteria and tools for your Course Project.
  • An explanation of why you did not select the other tools and criteria you researched.

Define your marketing philosophy (selling concept, marketing concept, etc.). Market segmentation for your app (WorkTogether), including demographic, psycho-graphic, geographic and behavioral segmentation.

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Your task is to write a 2000-word marketing plan addressing. WorkTogether is a new workplace app about to launch globally. The app allows small and medium-sized teams (up to 50 workers in a business unit) to communicate and collaborate remotely, and work together online. The company hopes its innovative new app will meet worker collaboration needs during the global waves of Covid-19 shutdowns in a way that combines the best of Zoom, Slack and Microsoft Teams. As a senior marketer on the WorkTogether team, it is your responsibility to write a marketing plan, prior to launch, that addresses the elements listed below:

1. Introduction.

2. Define your marketing philosophy (selling concept, marketing concept, etc.).

3. Market segmentation for your app (WorkTogether), including demographic, psychographic, geographic and behavioural segmentation.

4. Differentiation and positioning strategy of the app.

5. Brand personality for the app, including justification for how that personality aligns with your segmentation strategies.

6. Pricing strategy at launch.

7. The role of retail members in the value chain, from launch onwards.

8. Promotion plans, prior to and after launch, including advertising, sales promotion, personal selling, public relations, and digital and social media.

9. Conclusion. Other Requirements Referencing is NOT required but your work will be submitted to Turnitin,

 

 

Construct a minimum 825-word plan for setting price and a distribution model. Analyze and understand how price setting and go to market (distribution) are interrelated and affects the profitability and growth of the business.

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This assignment is designed to help students analyze and understand how price setting and go to market (distribution) are interrelated and affects the profitability and growth of the business. It has been designed to be a short overview on purpose: the concepts of pricing and distribution are complex and a general understanding is what should be absorbed in one week of study.

Construct a minimum 825-word plan for setting price and a distribution model (place/distribution) in Microsoft Word. This plan should address at least three elements (from the Price and Place/Distribution list below) of the Price and Place/Distribution section of the marketing plan.

  • Price and Place/Distribution:
  • Distribution Strategies
  • Channels, Mass, Selective, Exclusive
  • Positioning within channels
  • Dynamic/Static Pricing Strategies
  • Channel tactics (Pricing)
  • Daily pricing, promotion pricing, List pricing

Note: Charts/graphs/tables do not count toward the word count.

The plan will be a continuation of your global or multi-regional business you chose in Week 1. This will be incorporated into your overall marketing plan for Week 6.

Discuss in a minimum 700 words the differences between the traditional media option and the new media option in terms of audience, reach, channel and content.

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The purpose of this assignment is to creatively illustrate traditional and new media options. An understanding of the target audience and effective communication for each is a desired outcome. It provides the Learning Team the opportunity to creatively illustrate traditional and new media options. An understanding of the target audience and effective communication for each is a desired outcome.

Create a Microsoft® PowerPoint® presentation, Prezi, or Vimeo video, etc. which illustrates one traditional media option (print, TV, radio, billboard, etc.) and one new (social media) media option for your brand and brand strategy for a product or service of your choice. The presentation should be a minimum of 7-10 slides or, if Prezi or Vimeo video, an 8-minute minimum..

Discuss in a minimum 700 words the differences between the traditional media option and the new media option in terms of audience, reach, channel and content. A table of differences may be used to concisely illustrate the differences but you must include a discussion of insights/concerns/issues between the media options.

Your deliverable should include an actual marketing piece for the selected traditional media and for the selected new social media option . This can be actual copy, visuals, radio text, layout sketches, storyboard, etc. (possibly including slogans, logos, etc.) to illustrate how you would incorporate your creative recommendations into the two media branding or product strategies.

In 2–3 well-written paragraphs, discuss the exemplars, prototypes, and opportunities for mobile devices. Compare your findings to the positioning statement you created

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So far this semester, you picked a branded product in the mobile devices industry and wrote a value proposition for the brand. You also conducted limited consumer research to create a positioning statement for a specific customer segment that you believe should be (or is) targeted by the brand. This lesson, you will use that same customer segment (VALS Thinkers) to create and analyze a product schema and make recommendations for your chosen brand.

Step 1
Restate the customer segment you’re targeting: VALS Thinkers

Step 2
If needed, conduct more or different research on the target customer segment using credible sources (consider using the online University Libraries) to discover how your segment uses mobile devices and what they expect from them. It’s very possible that you will find information that only indirectly affirms their expectations and uses.

NOTE: Researching a lifestyle type is a bit like being a detective. Piece it together. For example, look at the types of entertainment and products they are likely to buy and then research their consumers. Or look up behaviors for two or three identifying characteristics (generations, potential careers, wealth, personality traits) and look for overlaps.

Each week, look for one or two new insights. This week, focus on psychological motivation—since that’s a key concept in this lesson.

Step 3
Interview at least five people who fall within your segment. Ask them (in a group or separately) what words come to mind when you say mobile devices. You can be more specific to tablets, laptops, or smartphones if you believe it will provide better insights. Finding VALS Thinkers may prove difficult, so please find people who fit at least two of the characteristics of Thinkers.

Step 4
Use the information in Steps 2 and 3 to construct a schema. Though this obviously isn’t enough research to completely project the segment’s comprehension of the mobile devices industry, for the purposes of this assignment, assume that this information is complete.

Step 5
In 2–3 well-written paragraphs, discuss the exemplars, prototypes, and opportunities for mobile devices. Compare your findings to the positioning statement you created. Does your positioning statement need to be changed or tweaked based on this week’s analysis? Provide cited support for your analysis and conclusions.

Step 6
Add one additional paragraph in which you recommend at least one type of comprehension influencer, how you will use it, and why you recommend it.

Step 7
Next, include an updated positioning statement in the document created in Steps 5 and 6. Don’t hand in the positioning statement as a separate document; Canvas won’t allow you to do so when Turnitin is being used to submit your work.