MKT 607 Full Course Discussions GCU
MKT 607 Topic 1 DQ 1
Product strategy, as part of the marketing mix, should be driven by consumer needs. Consumers make purchase decisions based on perceived benefits. Sometimes translating desired benefits to product design, features, and overall product strategy can be challenging for marketers. Define the word “product” as it relates to business, specifically marketing. Discuss specific real-world examples of products that have been successful and products that have been unsuccessful. Cite your examples.
MKT 607 Topic 1 DQ 2
In the world of marketing, two specific environments exist: business-to-business (B2B) and business-to-consumer (B2C). What are the two primary differences in these environments? Give an example of a company engaged in each environment and describe the primary product being marketed in each. What is the environment of the marketing simulation in which you are participating?
MKT 607 Topic 2 DQ 1
Research various codes of ethics in marketing research. Explain how the codes of ethics support conscious capitalism. Why might someone prioritize ethics in services marketing?
MKT 607 Topic 2 DQ 2
Define the characteristics of a vulnerable consumer. Considering ethics, should there be greater government regulation with respect to selling to vulnerable consumers? Within the context of a Christian worldview, why should businesses consider the methods of marketing to vulnerable consumers? Be sure to support your responses with evidence from the readings or additional references.
MKT 607 Topic 3 DQ 1
Define relationship marketing and how it might fit into the mission or vision for any given product in the overall organizational plan? How can the marketing mix elements of branding and advertising use relationship marketing to increase customer satisfaction with a brand?
MKT 607 Topic 3 DQ 2
What is a store brand and why do many of them imitate national brand packaging? Consider the effects social, marketing, situational, and psychological influences on consumer decision making. Is it ethical for a store brand to imitate the packaging of a national brand?
MKT 607 Topic 4 DQ 1
A number of factors contribute to the pricing strategies for a product. Considering the segments in the simulation, what pricing strategy would be most effective considering both the market’s needs and the product life cycle? As the product moves through the life cycle, how should the pricing strategy change?
MKT 607 Topic 4 DQ 2
Define brand positioning. Explain the reason for positioning and repositioning products. Choose a product with which you are familiar, preferably one in your industry, and explain how it might be repositioned. Indicate its current position in the market, a desired position, and how you would manage the repositioning effort.
MKT 607 Topic 5 DQ 1
The Conscious Capitalism simulation involves business-to-business (B2B) marketing of computer products. Social media is often considered for business-to-consumer (B2C) marketing. Does social media marketing work in the B2B marketplace? Considering the assigned articles, how does social media compare to other channels for B2B marketing? Summarize a conclusion from an assigned article and add your own interpretation of social media for B2B. Provide at least two specific examples of how might you use social media marketing in the Conscious Capitalism simulation to build relationships with business buyers. Defend your choices.
MKT 607 Topic 5 DQ 2
Relevance has always been the challenge of the advertising industry. Summarize Kristi Roger’s assessment of the advertising industry in her Ted Talk. Considering her hypothesis and results, what are some implications for marketing managers as they seek to improve the ROI of marketing expenditures on all forms of marketing communications? How could these ideas affect your decisions within the Conscious Capitalism simulation or your future endeavors?
MKT 607 Topic 6 DQ 1
Using the resources on multichannel distribution, summarize the benefits and challenges of using more than one channel, specifically direct, indirect, and multichannel. What is channel conflict? How can marketers use two or more channels and minimize the potential of channel conflict?
MKT 607 Topic 6 DQ 2
What are the various types and functions of marketing intermediaries? Which are more important for large business and why? Which are more important for the small business and why? How could additional marketing channel options in the simulation help you better serve your target market?
MKT 607 Topic 7 DQ 1
What global marketing opportunities and challenges would you face if the simulation were based on a real-world international situation? Discuss the difference in the experience you would have without the assumptions built into the simulation (e.g., no cultural barriers, language, currency, tariffs, mode of entry challenges).
MKT 607 Topic 7 DQ 2
Using the resources describing conscious capitalism and fair trade, how does fair trade support the philosophy and practices of conscious capitalism? What are the challenges to implementation of fair trade in the developing world?
MKT 607 Topic 8 DQ 1
Southwest Airlines and Whole Foods are businesses that practice conscious capitalism. Conduct research on either company. Identify, summarize, and defend three characteristics of either company that are consistent with conscious capitalism ideals.
MKT 607 Topic 8 DQ 2
Assume that you are a marketing manager charged with developing and leading a market entry into a country with a large power distance index (PDI). What are three major concerns from a marketing viewpoint that you would need to address? Explain.