Discussion : Principles Of Marketing
Aligns with Chapter Learning Objectives 1-1 and 1-5 and Course Learning Objectives CO1, CO11, and CO12
I welcome all of you to the exciting, changing, advancing world of marketing. Marketing is a passion of my mine and I hope to convey that energy and enthusiasm to each of you. I hope by the conclusion of this semester you will look at the “term” marketing in an entirely different light. Marketing is so much more than advertising. Marketing involves the four “P’s,” which are product, placement (distribution), price and promotion. Only one part of promotion is actually advertising.
At the conclusion of your reading from Chapter 1, please refer to 2-1 p14, “The Nature of Strategic Planning.” Strategic planning is the managerial process of creating and maintaining a fit between the organization’s objectives and resources and the evolving market opportunities. The goal of strategic planning is long-run profitability and growth. Thus, strategic decisions require long-term commitments of resources.
A strategic error can threaten a firm’s survival. On the other hand, a good strategic plan can help protect and grow the firm’s resources. Read on page 14 about March of Dimes, Disney, Nvidia, and Target in the short excerpt. These company’s decisions have or will affect their future.
Strategic marketing management addresses two questions (1) What is the organization’s main activity at a particular time? (2) How will it reach its goals?
Here is a link to current marketing strategies. http://adage.com/lp/top15/ (Links to an external site.)Links to an external site. (Links to external site).
APA Reference for this source:
Neff, J. (2015). Top Ad Campaigns of the 20th Century. AdAge. Retrieved from http://adage.com/lp/top15/
(Remember in Reference section, all hyperlinks should be removed and all formatting should be black, without an underline. You do not need to worry about the five space indention on the second and subsequent lines in the Reference section for a citation, as the discussion template does not make that possible.)
Become familiar with the top 15 marketing strategies implemented. These include UNICEF: Tap Project; Chipotle: Back to the Start; Budweiser: Whassup; Metro Trains: Dumb Ways to Die; Dos Equis: Most Interesting Man in the World; American Legacy: Truth; P&G: Thank You, Mom; Apple: Get a Mac; American Express: Small Business Saturday; Burger King: Subservient Chicken; Red Bull: Stratos; Old Spice: The Man Your Man Could Smell Like; The Hire: BMW Films; Nike+; and Dove: Campaign for Real Beauty.
For this discussion, (3 parts)
(1) Define the term marketing (in its own paragraph and properly referenced)
(2) Define strategic planning (in its own paragraph and properly referenced)
(3) Choose one of the companies from 2-1 (p14) or one of these 15 companies and discuss what the company did, what you think they did right, why it worked (was judged such a success), or maybe what you think they didn’t consider or do right. You analysis should address the two strategic marketing questions identified above (bold/underlined) and apply/explain. (There is no wrong or right answer as far as your opinion, but your score is based on your development of the topic and professional essay. This part should be in its own paragraph(s) and have in-text referencing).
This discussion will help you to start on the journey to identify and utilize marketing principles and to gain awareness of some of the basics involved with strategic planning and positioning. Being more informed on top strategies in the marketplace, will help you with developing your ideas for your own marketing strategy to be determined for a company of your choice, by the conclusion of the semester.
Your discussion needs to be around 250-300 words (can be longer if desired) and should include marketing terminology and analysis. You should properly reference “in-text” citing with APA in-text referencing, with reference section at the end of your essay. Support your rationale, give examples, compare and contrast.
Side Note: All work you submit should contain APA format of in-text referencing and a “Reference”page at the end, unless stated otherwise. Part of the points assigned in the Rubric for Discussions are credited for being able to properly reference and support your work. There should always be a way to substantiate or support your ideas/work further with credible sources. Do not refer to your text as the “text.” Properly reference it.
A good on-line source for how to do in-text referencing is Owl Purdue. Here is a link to that resource tool you may want to utilize. https://owl.english.purdue.edu/owl/resource/560/02/ (Links to an external site.)Links to an external site.
Resource Privacy Statements:
For a link to the terms/conditions/privacy of using Owl Purdue.
For a link to the terms/conditions/privacy policies of using YouTube.
For a link to the terms/conditions/privacy policies of AdAge.
Components of Discussion