MARKETING week 5

Required Resources

Text Chapters

White, S. (2012). Principles of marketing [Electronic version]. Retrieved from https://ashford.content.edu

Chapter 9: Managing the Marketing Effort

In this chapter, we will learn how to manage the marketing effort by using different tools and frameworks. We also see how a marketing plan can finally be outlined. Key concepts:

• Strategic planning tools: BCG Matrix, Ansoff’s Matrix
• Internal strengths & weaknesses, external opportunities & threats (SWOT analysis)
• Media planning and budgeting
• Implementation and control

In the featured case study, we will learn how different elements of a marketing plan are put together to create an actual marketing plan for “Cats & Cameos.” This is a hypothetical startup company, based on a real situation, that markets paired designer accessories for cats and their owners.

Chapter 10: Responsible Marketing

In this chapter, we will learn how to manage the marketing effort by using different tools and frameworks and see how to outline a marketing plan. Key concepts:

• Corporate Social Responsibility (CSR)
• Some examples of unacceptable marketing practices
• What is Ethical marketing
• What jobs fit you?

In the featured case study, Power2Give is discussed. This is an online marketplace that brings together donors and receivers who want to fund and contribute to cultural and art projects. It is an example of how an entrepreneur can simultaneously aid the public, the fundraising profession and their own interests.

Multimedia

Forbes video interactive: A look inside the (RED) cause marketing brand and business model.

Recommended Resources

Deepen your understanding of this module’s concepts by exploring the following:

Is marketing to vulnerable segments like the poor and the infirm morally impermissible? A counter-argument.

Palmer, D., & Hedberg, T. (2013, August).The ethics of marketing to vulnerablepopulations. Journal of Business Ethics,116(2), 403-413

DISCUSSION 1

 Green Marketing or Greenwashing?

As a means of demonstrating their social responsibility, many companies engage in cause or green marketing efforts; however, such efforts can backfire. In recent years, the terms greenwashingand cause washing have emerged to refer to marketing efforts that capitalize on the goodwill associated with environmental or charitable causes but reflect minimal commitment.

What to Do (and How to Do It)…In this interactivity, you’ll read about Patagonia’s “Don’t Buy This Jacket” campaign and the cause washing phenomena. Then you’re going to decide if you judge this to be green marketing or greenwashing and how it impacts your likelihood to purchase.

• Learn about the Patagonia campaign.
  • In 2011, on Black Friday, the most important retail sales day of the year, Patagonia rocked the marketing world by running the “Don’t Buy This Jacket” ad in the New York Times and on the homepage of their website.
    • To learn more, read the “Don’t Buy This Jacket” Adweek article. (Links to an external site.)Links to an external site.
  • Was this a corporation putting their environmental principles ahead of their financial goals? Or was this just a brilliant way to grab Black Friday headlines and sell a lot of full-price product? Or was it both?
• Learn more about values-based shopping (and cause washing).
  • Read this Forbes contributor article: “Truthiness and Consequences…” (Links to an external site.)Links to an external site.
• Share your opinion on the Patagonia campaign with a forum post that answers the following questions:
  • Do you judge this campaign to be more green marketing or greenwashing? Why?
  • Would this campaign make you more or less likely to buy from Patagonia. Why?
• Respond to three of your classmates.
  • Find at least one person who has a different opinion than you on one of the questions and attempt to convince that person of your position.
  • Later on, in our optional Week Five Polling Place, you’ll have the opportunity to tell us how much more (if any) you’d be willing to pay for a Patagonia jacket versus a similar item manufactured in a less environmentally responsible manner.
• DISCUSSION 2
•  

  Art or Science?

  Art or Science?

  Let’s be honest, the “art” side of marketing gets most of the press. Everybody likes to talk about that cool new ad they recently saw; however, this is not true when it comes to big data and the advanced analytics being used to evaluate marketing effectiveness and drive marketing planning. In other words, nobody is writing TV shows about a couple of quirky marketing data scientists.

  So in this interactivity, we’re going to give marketing analytics its fifteen minutes of fame. Then, we want your take on whether marketing is more art or science and which side appeals more to you.

  What to Do (and How to Do It)…

  • Learn more about big data, marketing analytics, and successful integration
    • Read the Forbes article “Marketing Analytics Cheat Sheet for CEOs (Links to an external site.)Links to an external site..”
    • If you want to go deeper on the analytics discussed, peruse the optional Harvard Business Review article “Advertising Analytics 2.0 (Links to an external site.)Links to an external site..”
  • Post to the forum below, answering the following questions:
    • Based on everything you’ve learned in this course thus far, do you think marketing is more art than science, or vice versa? Defend your point of view.
    • Does the art or science side of marketing appeal more to you? Why?
  • No peer response required.
    • Spend the extra time working on your Marketing Plan Final Paper.

  I Need Help! I Can Help!Do you have questions about marketing analytics or this assignment? Please post to our Week Five Help Forum so others can benefit!

  Marketing Analytics CEO Cheat Sheet

  Access Forbes article

  The Forbes’ Quotable Marketer