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2hmwk.docxQST1: Management
In Chapter 3 we are learning about Evaluating a Company's External Environment. Think of the External Factors that effect your current employer. What are some of these factors? What makes them external to the organization? Can the external factors be controlled by your current employer?
Your answer must be at least 250 words.
QST2: Marketing
After watching the video, please answer the questions listed below in your own words.
https://www.ted.com/talks/dan_cobley_what_physics_taught_me_about_marketing?language=en
Your response should be a minimum of approximately 200 words and MUST address each question posed. Please DO NOT give me ONE LONG PARAGRAPH. Organize your thoughts.
This post is worth 50 points. Please take the time to formulate a thoughtful/specific response as the points you are awarded are reflective of the level of detail and care you put into your response. For example, points will be deducted if you provide a two-sentence response that does not address the specific question.
What, according to Dan Cobley, does physics teach us about marketing?
What is Newton's Law and what does it have to do with brands?
What is the Heisenberg's Uncertainty Principle? How does this principle relate to marketing?
What is the Scientific Method? How does this method relate to marketing?
What is Increased Entropy? How does this principle relate to marketing?
QST 3: MARKETING
This case study will be submitted in a Word document. Please use the template provided to complete your assignment.
There are no exact answers or perfect solutions to case problems. Indeed, each recommended solution and justification can and is usually different comparatively among a group of respondents.
The solution must fit the case and must be vigorously supported.
The problem statement, analysis, selected solution, and especially the justification of the selected solution, are all critical elements in the case method. There are no short cuts to case presentations but a formalized methodology that enables the case presenter the optimal way to solve the case problem. In addition to identifying the problem statement, analysis, selected solution, and justification of the selected solution, be sure to answer/address all of the questions given for the case.
Your responses must be complete, using terminology and concepts presented in the primary textbook as well as supplementary resources.
Be sure to cite your resources and provide the references using APA format. Remember to reference all work cited or quoted by the text authors. You should be doing this often in your responses. Activity Outcomes
1. Describe the changing American society in relation to values.
2. Explain the changing demographics that influence society.
3. Summarize consumer behavior in relation to perception of the product.
4. Develop a marketing message for buyers, retirees, ethnic, and female consumers
CASE 2-8
The Hispanic market is the fastest-growing ethnic segment and bears considerable economic importance. It is being heralded as the last true growth opportunity. From 2010 to 2050, the Hispanic population in the United States is expected to grow by 167 percent, compared to 42 percent for the total population. For many consumer packaged goods, Hispanics are expected to be the sole driver of sales growth. According to the vice president of advertising and sales of Univision, all of the growth in beverage sales will come from Hispanics and the growth in automotive sales for Hispanics is expected to be double that of non-Hispanics. According to Monica Gill, senior vice president of public affairs and government relations at Nielson:
Latinos are emerging as a powerhouse of economic influence, presenting marketers an increasingly influential consumer group that can translate into business impact. The key is to recognize that today's modern Latino is “ambicultural” with the ability to seamlessly pivot between English and Spanish languages and to embrace two distinct cultures. Understanding how to connect with this unique consumer profile will be key to successful engagement.
Each year, Advertising Age publishes its Hispanic Fact Pack, which provides valuable information about the sought-after demographic to marketers in many industries. The following five tables provide insights from the report as they relate to Hispanic use of social media, mobile marketing, and online purchasing.
HISPANICS AND SOCIAL NETWORKING
Tables A and B provide information about Hispanics' use of various social networking websites and how those websites affect the segment's attitudes. Table B details additional information about Hispanic attitudes relative to those of non-Hispanics.
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TABLE A |
Social Networking: Largest Multiplatform Web Properties among U.S. Hispanics by Unique Visitors |
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|
|
|
|
|
Hispanic Composition |
|
|
Rank |
Properties |
Unique Visitors in Thousands |
Percent Reach (%) |
Percent (%) |
Index |
|
1 |
|
31,463 |
82.1 |
15.9 |
104 |
|
2 |
|
18,892 |
49.3 |
16.3 |
106 |
|
3 |
|
8,577 |
22.4 |
12.5 |
81 |
|
4 |
|
7,394 |
19.3 |
12.6 |
82 |
|
5 |
Tumblr |
6,480 |
16.9 |
16.5 |
108 |
|
6 |
AddThis |
3,476 |
9.1 |
14.4 |
94 |
|
7 |
Yahoo Profile |
2,475 |
6.5 |
14.7 |
96 |
|
8 |
Goodreads |
2,149 |
5.6 |
13.7 |
89 |
|
9 |
Quizlet |
1,813 |
4.7 |
17.6 |
115 |
|
10 |
Ask.fm |
1,504 |
3.9 |
27.9 |
182 |
|
|
Total Internet: Hispanic all |
38,332 |
100 |
15.3 |
100 |
|
|
Social media/social networking |
34,429 |
89.8 |
15.5 |
101 |
Note: Percent reach here is the percent of all Hispanic Internet users (38.3 million). Multiplatform data include both desktop and mobile platforms and are inclusive of website, video, and app content.
Source: ComScore, May 2014, http://comscore.com .
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TABLE B |
Attitudes Toward Social Media |
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|
People Who Agree |
Percent Hispanic (%) |
Percent Non-Hispanic (%) |
Percent of All (%) |
|
I am more likely to purchase products I see advertised on a social sharing/networking website. |
10.9 |
8.3 |
8.6 |
|
I am more likely to purchase products I see used or recommended by friends on social sharing/networking websites. |
18.3 |
17.8 |
17.8 |
|
I like to follow my favorite brand or companies on social sharing/networking websites. |
23.5 |
20.2 |
20.6 |
|
Social sharing/networking websites are a way for me to tell people about companies and products that I like. |
23.9 |
20.2 |
20.8 |
|
I sometimes post ratings or reviews online for other consumers to read. |
18.2 |
17.8 |
17.9 |
|
I pay attention to ratings and reviews posted online by other consumers. |
27.1 |
29.3 |
28.9 |
|
I often click on links or items posted by other people on social sharing/networking websites. |
29.0 |
33.8 |
33.1 |
|
I often access social sharing/networking websites from different devices. |
29.8 |
33.1 |
32.6 |
HISPANICS AND MOBILE MARKETING
Page 268
Tables C and D display information about the mobile platform preferences of Hispanics and the activities in which this segment engages. The activities in Table D are further broken down into generational groups.
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TABLE C |
Mobile Platform Share among Hispanics |
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|
Smartphones |
|||
|
Rank |
Platform |
Share (%) |
Audience |
|
1 |
Google (Android) |
55.9 |
16,995 |
|
2 |
Apple (iOS) |
38.1 |
11,582 |
|
3 |
Microsoft (Windows) |
3.2 |
986 |
|
4 |
Blackberry |
2.5 |
773 |
|
5 |
Symbian |
0.1 |
38 |
|
6 |
Other |
0.1 |
20 |
|
|
Total |
100.0 |
30,405 |
|
Tablets |
|||
|
Rank |
Platform |
Share (%) |
Audience |
|
1 |
Google (Android) |
56.4 |
8,414 |
|
2 |
Apple (iOS) |
47.0 |
7,011 |
|
3 |
Microsoft (Windows) |
2.8 |
423 |
|
4 |
Blackberry |
0.7 |
101 |
|
5 |
HP |
0.6 |
87 |
|
|
Total |
100.0 |
14,925 |
Note: Share based on three-month averages ended May 2014. Audience is in thousands.
Source: ComScore, 2014, http://comscore.com .
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TABLE D |
Smartphone User Activities in the Last Seven Days |
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|
Percent Who Used This Function in the Last Week (%) |
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|
Category |
Hispanic |
Non-Hispanic |
Hispanic Millennials |
Non-Hispanic Millennials |
Hispanic 35+ |
Non-Hispanic 35+ |
All Users |
|
Camera |
51.5 |
51.6 |
54.2 |
53.4 |
48.4 |
50.5 |
51.5 |
|
Download app |
66.4 |
61.3 |
66.8 |
62.1 |
65.9 |
60.8 |
62.1 |
|
|
79.4 |
82.2 |
78.7 |
83.3 |
80.1 |
81.6 |
81.8 |
|
GPS |
41.3 |
38.8 |
42.5 |
43.2 |
40.0 |
36.2 |
39.2 |
|
IM/chat |
38.1 |
23.1 |
39.4 |
24.3 |
36.6 |
22.4 |
25.4 |
|
Listen to music |
37.9 |
30.2 |
41.4 |
33.9 |
34.0 |
28.0 |
31.4 |
|
Play games |
52.0 |
50.1 |
54.5 |
50.8 |
49.1 |
49.8 |
50.4 |
|
Read newspapers/periodicals |
17.3 |
16.6 |
19.0 |
17.5 |
15.3 |
16.0 |
16.7 |
|
Social network/blog |
74.1 |
69.3 |
77.1 |
73.2 |
70.8 |
67.0 |
70.0 |
|
Talk |
91.6 |
92.0 |
91.4 |
92.0 |
91.8 |
92.0 |
91.9 |
|
Messaging |
93.4 |
91.5 |
93.8 |
90.6 |
93.0 |
92.1 |
91.8 |
|
Visit websites |
91.6 |
88.0 |
91.0 |
89.0 |
92.2 |
87.5 |
88.6 |
|
Watch/download/stream video |
52.2 |
37.2 |
58.0 |
42.6 |
45.7 |
34.1 |
39.5 |
Source: Experian Marketing Services, 2014, http://experian.com/marketing-services . Data based on Experian Marketing Services' Simmons Connect Study, Fall 2013, for the dates of October 2013 through January 2014.
HISPANICS AND ONLINE PURCHASES
Page 269
Finally, Table E illustrates the purchase behavior of Hispanic consumers relative to that of all American adults. This purchase behavior is further subdivided into the particular type of device.
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TABLE E |
Purchases via Device by Category: |
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|
|
Percent Who Have Purchased Using a … (%) |
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|
|
Personal Computer |
Tablet |
Cell Phone |
|||
|
Category |
Hispanic |
All Adults |
Hispanic |
All Adults |
Hispanic |
All Adults |
|
Apparel/accessories |
54.0 |
59.4 |
52.3 |
47.4 |
36.8 |
29.4 |
|
Electronics |
50.9 |
51.6 |
51.8 |
41.5 |
31.5 |
20.8 |
|
Food |
22.3 |
22.7 |
32.7 |
23.1 |
15.1 |
11.8 |
|
Stocks/bonds/mutual funds |
12.9 |
14.0 |
19.7 |
15.1 |
6.5 |
6.2 |
|
Tickets to movies/events |
45.5 |
45.1 |
40.8 |
34.1 |
19.4 |
15.4 |
|
Toys/games |
38.1 |
33.4 |
43.7 |
34.9 |
17.6 |
11.7 |
|
Travel services/reservations |
52.4 |
58.5 |
40.2 |
32.6 |
17.2 |
10.7 |
|
Auction items |
24.0 |
24.5 |
26.9 |
25.6 |
21.2 |
13.9 |
|
Charitable donations |
17.4 |
16.7 |
18.5 |
16.3 |
16.8 |
11.0 |
|
Books |
41.9 |
43.0 |
43.7 |
45.8 |
14.6 |
13.9 |
|
Music |
36.3 |
37.5 |
48.0 |
41.6 |
23.8 |
17.0 |
Source: Experian Marketing Services, 2014, http://experian.com/marketing-services . Data based on Experian Marketing Services' Simmons New Media Study, for the dates of January 26, 2014, through February 2, 2014. Base of device owners for each device (e.g., 54 percent of Hispanics who own a computer have purchased apparel/accessories using their computer vs. 59 percent of all computer owners).
Discussion Questions
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1. |
What are the opportunities and challenges facing marketers that are targeting the lucrative Hispanic market through online and mobile marketing? |
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2. |
Based on the information in Tables A, B, C, D, and E, develop an overall marketing strategy for targeting the Hispanic market. |
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3. |
Based on the information in Tables A, B, C, D, and E, develop an advertising campaign including (i) overall positioning strategy and core theme, (ii) key advertising copy points, (iii) visual elements, and (iv) key media outlets. |
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4. |
Based on the information in Tables A, B, C, D, and E, develop training materials for entry-level marketing professionals (specifically those working for a company whose target segment is or includes Hispanic consumers) to enhance their interactions with consumers and to enhance their selection of media outlets when communicating with consumers. |
Source: G. Llopis, “5 Steps to Capturing the Hispanic Market—The Last True Growth Opportunity,” Forbes, September 3, 2013, www.forbes.com ; and Crain Communications, Inc., “Advertising Age, 11th Annual Hispanic Fact Pack,” Advertising Age, July 28, 2014.
