Question

1. Deonna has been asked to write a marketing plan for a new pet food store. What questions will Deonna likely address in her marketing plan? Be specific and offer questions related to a pet food store.

2. Why is it important for companies to establish a sustainable competitive advantage?

3. What role will marketing play in Finance career path?

4.Describe how social media has changed the way firms communicate with you relative to traditional forms of marketing products (i.e. now vs. 5-10 years ago).

5. Burt's Bees mission is an "Earth Friendly, Natural Personal Care Company." As part of that mission, Burt's Bees has a "Zero Waste to Landfill" initiative. During which phase of the strategic marketing planning process would this initiative be pursued?

6. Discuss how privacy concerns have become a current social issue. What have technological inventions prompted the rise in concern over privacy?

7.Marketers believe that the decision-making process begins with a consumer's need recognition. Not everyone agrees. How would you answer critics who believe marketers can force people to buy things they don't want?

Answer 1

2. Importance of sustainable competitive advantage

​​$\rightarrow$Without a competitive advantage, a firm has limited economic reason to exist its competitive advantage is its reason of life.

$\rightarrow$Creating a sustainable competitive advantage may be the most important goal of any organisation and may be the most important single attribute on which each firm must place its most focus.

competitive advantage.

$\rightarrow$ Competitive advantage examines the economics of a firm's business focusing primarily its ability to generate excess returns on capital and links the business strategy with fundamental finance and capital markets, for a longer period of time.
$\rightarrow$Creating a sustainable competitive advantage may be the most important goal of any organisation and may be the most important single attribute on which each firm must place its most focus.

3. Role of marketing

• Regardless of the industry that your business is operating in, marketing should be considered as an important aspect of your overall strategy.
• The sheer mention of the term “marketing” is often associated with “fluffy” practices like nice photography,
• but in actuality it is such an imperative part of your operation. Afterall, marketing is essential if you want to reach your target consumer base.
• If you don’t invest in marketing, how is anyone going to find you? Therein lies the importance of marketing

6.Privacy corns

1. Invasion of an employee’s privacy occurs when someone tries to spy and supervise person’s activities not only visually but also by tracking his online activities and scrutinizing his behavior, speech, and ac actions.
2. This currently become a social issue because and created a widespread social pressure against the tracking.
3. Technological inventions such as social media applications, increased capabilities of the systems to track and monitor activities and then create a social profile for using it for marketing and other purposes created more concern about this.

7.crtics

Utilitarian function:

• Therefore the marketer can change the attitude of consumer by focusing on the utilitarian function which the consumers are not aware of.
• Eg: Hit which can be used to kill mosquito and cockroach.

The ego-defensive Function:

• It is natural that most of the consumer wants to protect their self images and they want to feel secure and safe about the product which they are going to buy.
• Many advertisements helps the consumer to feel secure and confident by which the marketer tries to changes the attitude by offering reassurance to the consumers self concept.
• Eg: Bolero advertisement.

·  The value – expressive function :

• Attitudes are an expression or reflection of the consumer’s general values, lifestyles, and outlook.
• If a consumer segment generally holds a positive attitude toward owning the latest designer jeans, then their attitudes toward new brands of designer jeans are likely to reflect that orientation.
• Thus by knowing target consumers attitudes, marketers can better anticipate their values, lifestyles or outlook and can reflect these characteristics in their advertising and direct marketing efforts.

· The Knowledge Function:

• Customers always have the urge of knowing more about the products.
• This “need to know” is considered to be important while positioning the product.
• Indeed, many products and brands positioning are attempt to satisfy the need to know and to improve consumer’s attitude toward the brand by emphasizing its advantages over competitive brands.