We are pleased to unveil a new feature with this edition of Essentials of Marketing. One of the challenges we face with writing a marketing textbook is offering students the most current examples. With this edition, we have added a new What’s Now? feature. A link at the end of each chapter sends readers to a web page that introduces them to a new example relevant to that chapter. What’s Now? links are updated every six months and provide a great way to link current events with each chapter of the book. Over the next couple of weeks we will be releasing a What’s Now? link for [Continue Reading …]
I have a soft spot in my heart for Fargreen. The startup that emerged from the Colorado State University Global Social and Sustainable Enterprise MBA program (full disclosure, Colorado State is my employer and I served for many years on the advisory board for this program). I also know Fargreen’s founder, Trang Tran. She developed a great idea to help Vietnamese farmers while also lowering carbon emissions. What is not to like? After winning several business plan competitions, Trang is now moving her business forward. This brandchannel article “Yale on Purpose-Driven Startups: Fargreen — Going Far By Going Green” (May 2, 2016) is one [Continue Reading …]
A research study at the Universität Bonn (Germany) found that consumers are willing to pay more for products that include the Fair Trade logo (see image of logo on left). The logo can be found on a range of products including bananas, coffee, chocolate, and wine. TheUniversität Bonn study found consumers were willing to pay 30% more when the product carried the Fair Trade logo. In addition, they thought Fair Trade branded products tasted better. Another part of the study asked consumers to sample two pieces of chocolate and determine which tasted better. While the chocolates were identical, one included [Continue Reading …]
In chapter 17 we discuss dynamic pricing — when prices change “according to the level of demand, the type of customer, or the state of the weather.” Uber is a company that connects people who need a ride with drivers who can give those rides (a competitor to the taxi cab). A key part of Uber’s business model is “surge pricing.” Surge pricing is a form of dynamic pricing and prices increase as cabs become more scarce (due to fewer drivers or a significant increase in demand). So for example, when the weather is particularly cold or wet, many pedestrians seek out cabs. [Continue Reading …]
When we were researching and writing chapter 16, Snapchat was a somewhat distant 6th place finisher in the social media race. Just one year later — which shows how fast this space is changing — Snapchat is a real player, especially when targeting Generation Z (those born since 1995). More importantly for marketing managers, Snapchat appears to have figured out an advertising strategy — while Twitter and Instagram continue to struggle in that area. Hubspot’s Marketing blog identifies “10 of the Best Brands on Snapchat Right Now (And Why They’re So Great)” (April 27, 2016). This article is long – so [Continue Reading …]
This article from Harvard Business Review “Great Salespeople Are Born, but Great Sales Forces Are Made,” (May 20, 2016) describes the importance of 1) strategy, 2) organization, 3) talent, 4) execution, 5) support, and 6) improvement and adaptation in building a great sales force. Chapter 14’s coverage of strategy decisions discusses similar concepts to those mentioned in this article. Explain how each of the six concepts in the article relate to concepts from chapter 14.
While UK women participate in sports to a lesser degree than men, research shows that more women want to be active. So why aren’t they? This case study, “Case study: How “This girl can’ got 1.6 million women exercising,” (campaign, May 18, 2016) details the research and subsequent integrated marketing communications campaign that helped move many more British women from the couch to the pool, or court, or track, or… Chapter 13 discusses integrated marketing communications. Describe the different elements of this marketing communications campaign. What different promotion methods were used? Give examples of each.
Whole Foods has seen its sales and profits decline recently. In response, the food retailer has opened some new stores under the name 365. Read more about 365 in this article “Whole Foods Is Getting Killed by Aldi. Is a Millennial Grocer Chain the Fix?” (Bloomberg Businessweek, June 20, 2016). What is the target market for Whole Foods new 365 stores? Is this different from a typical Whole Foods store? How is the 365 marketing strategy (compare each of the 4 Ps) different from that used by Whole Foods? Do you think it will work?
Silicon Valley startup Zipline is delivering blood and emergency medicine to rural areas of Rwanda. You can learn more about Zipline in the YouTube video below. Review the discussion of Exhibit 11-2. Estimate how Zipline’s drone delivery effects inventory cost, cost of lost sales, and transportation costs as compared to possibly shipping supplies by car/truck over 200 miles of jungle roads. This will of course require you to make some estimates on costs, provide a an explanation. Estimate how Zipline’s drone delivery might be evaluated if it was added as a row in Exhibit 11-5.