1,200 words total, 3 APA cited references and reference list. NO PLAGIARISM PLEASE!!! 1. Summarize t

  

1,200 words total, 3 APA cited references and reference list. NO PLAGIARISM PLEASE!!! 1. Summarize the Coca-Cola case expanding upon consumers’ perspective on soda consumption. Three (3) dilemmas are presented within the case. Discuss one of the dilemmas providing full detail.2. A concept discussed in the READ and ATTEND is the triple-bottom-line orientation. The 3 components are 1. FINANCIAL BOTTOM LINE 2. SOCIAL BOTTOM LINE 3. ENVIROMENTAL BOTTOM LINE. How can Coca-Cola maximize growth through each component given the decline in soda consumption? 3. If you were a Marketing Manager for Coca-Cola and were assigned a project to increase market share by focusing on the value proposition and value from society’s perspective, what recommendations would you provide? Include at least three (3) recommendations and expand upon each recommendation.QUESTION 4250 words total, 2 APA cited references and reference list. NO PLAGIARISM PLEASE!!!USE THE WORKSHEET AS A GUIDE BUT ANSWER THE QUESTION IN PARAGRAPH FORM.4. A reference group is a set of people a consumer wants to please or imitate, and this affects the consumer’s purchasing decisions. Consumers often buy products because they feel pressure from reference groups to conform. Does conformity exert a positive or negative influence (or both) on consumers? Explain and include examples. With what types of products is conformity more likely to occur? Why do you think this is the case? Explain.WORKSHEET LISTED BELOW- VIDEOS FROM WORKSHEET
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ISBN 1-323-75008-8
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Marketing: Real People, Real Choices, Ninth Edition, by Michael R. Solomon, Greg W. Marshall, and Elnora W. Stuart. Published by Pearson.
Copyright © 2018 by Pearson Education, Inc.
PART ONE: Understand the Value Proposition
Chapter 1
Welcome to the World
of Marketing
Objective Outline
Create and Deliver Value
1.1 Explain what marketing is, the
marketing mix, what can be
marketed, and the value of
marketing. pp. 4–11
1.2 Explain the evolution of the
marketing concept. pp. 11–15
WHEN DID MARKETING BEGIN? THE
EVOLUTION OF A
VCONCEPT p. 11
MARKETING: WHAT IS IT? p. 4
I
1.3 Understand value from the
perspectivesC
of customers, producers, and society. pp. 16–23
1.4 Explain the basics of market
planning. p. 24
MARKETING AS A PROCESS p. 24
Check out the Chapter 1 Study Map
on page 25.
K
THE VALUE OF MARKETING AND THE
E
MARKETING OF VALUE p. 16
Meet Michael
R
S
Baumwoll
,
A Decision Maker at Twitter
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Courtesy of Michael Baumwoll
I am currently an Account Manager at Twitter. After I graduated from Lafayette College in 2009, my career focused on
digital media and advertising with brief stints in entrepreneurship. For the first five years of my professional life, I worked
for an advertising technology company with the goal of revolutionizing the digital media landscape. Similar to
exchanges like Nasdaq and eBay, this company built a platform that allowed websites (publishers) to auction off
their advertising space to the highest advertising bidder. I joined this young, growth startup and quickly learned
the robust, technical, and (highly) relationship-driven industry of digital advertising. Working in a fun, supportive,
Google-esque culture, I was able to grow personally and ultimately manage relationships with major advertising agencies and their digital media-buying arms, called “trading desks.” I was also lucky enough to manage a
small group of coworkers and help them develop their understanding of the advertising landscape, technical skills
and—most importantly, to me—themselves, professionally.
Simultaneously, I co-founded an iPhone application called BarSocial with the goal of creating a social media
platform for nightlife. On the app, users connected with their friends and other bar-hoppers to determine the best places to go out. It was, essentially, Twitter for bars. BarSocial was live in the App Store for more than a year and was briefly featured on Wired.com. I quickly learned the
facets of maintaining and building a technology business. Building BarSocial was one of the most exhilarating and challenging experiences I’ve
ever had; I’d highly recommend building something of your own if the opportunity presents itself.
With a passion for social media, I now have the pleasure of working at one of the world’s most recognized technology companies, Twitter.
Twitter is a social media platform that democratizes the world by providing a forum for users to share their experiences and views. Similar to my
previous professional experience, Twitter has successfully built a culture designed to help their employees thrive professionally. My role at Twitter
is to manage and develop relationships with advertisers and their creative and media agencies. To simplify, I am a Twitter consultant helping to
demystify the ever-growing world of Twitter and showcase the power of its advertising solutions to my clients.
What I do when I’m not working:
Business book I’m reading now:
What drives me:
Watching movies, spending time with my
family, and breaking it down on the dance
floor.
Contagious: Why Things Catch On by
Jonah Berger
The opportunity to impact the world in my
own personal way.
My motto to live by:
A job-related mistake I wish I hadn’t
made:
Always focus on developing
relationships—new and old. They will be
the driving force in your professional and
personal growth.
Don’t do this when interviewing
with me:
I avoided speaking up in meetings where I
could have contributed value.
Be inauthentic
My pet peeve:
Talking during movies
2
Marketing: Real People, Real Choices, Ninth Edition, by Michael R. Solomon, Greg W. Marshall, and Elnora W. Stuart. Published by Pearson.
Copyright © 2018 by Pearson Education, Inc.
ISBN 1-323-75008-8
Michael’s Info
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Here’s my problem…
Real People, Real Choices
Twitter is a public microphone that gives those with a
handheld device or access to the Internet the ability to
step up and speak. It gives each of us the opportunity to share our experiences
and thoughts 24 hours a day, 7 days a week. As a result, Twitter has become a
democratized platform for human expression and thought.
Just like the product externally, Twitter’s management team creates an
environment that encourages team members to speak up and share ideas.
Employees are constantly reminded of their value and given channels to be creative and productive. It’s an internal cultural choice that was made in the early
days of Twitter to reflect the founders’ beliefs in transparency and cooperation.
Internally at Twitter, there are multiple ways to share ideas and feedback. There are e-mail chains, discussion boards, water cooler conversations,
feedback forms, and many other methods that allow you to express yourself. V
Although there are a number of options, it’s (a) difficult to navigate and select I
the right method to share your idea and (b) hard to determine who the ideal
C
person is with whom to share it.
As a member of the sales team, my focus is to understand the needs
K
and concerns of my clients and relay that information to the Twitter team. It
addition, and just as important, as an involved member of the Twitter com- E
munity, it’s my responsibility to contribute to building an even stronger product
R
and experience for users. The question then becomes: how do we harness the
innovation within Twitter’s walls and leverage it to solve challenges the team S
faces with employees, consumers, and marketers? And subsequently, how can
,
we track it?
Michael considered his Options 1 2 3

T
Make a case for the management team to hold weekly meetings E
to discuss ideas and innovations within Twitter. This change would
provide a dedicated time for team members to share their opin- A
ions, views, and ideas in an hour-long weekly meeting. Employees R
Option
feel they are part of the process when they help to make decisions
for the company. And different teams could interact with one another to come D
up with productive ideas because of this cross-pollination that only comes from R
face-to-face encounters. However, some employees are hesitant to voice their
concerns and suggestions in such a public forum. Also getting a bunch of busy
people to give up an hour of their time each week might not go over well with
some people.
Build an internal online tool to allow employees to share, build,
and measure ideas (i.e., a Twitter within Twitter). Like Twitter, the
forum would allow any team member to carefully think and craft
ideas he or she could then share with coworkers or with entire
Option
teams. Employees could vote on ideas to showcase demand for an
idea or product. And we could measure the success of the platform by tracking posts, votes, comments, etc. On the other hand, some employees might be
reluctant to post ideas to the group if everyone votes on the ones they like and
don’t like. It’s also not clear that there would be enough demand for merit the
time and other resources to build this app that could be devoted to building
business for Twitter instead.
Share ideas on Twitter to galvanize support and subsequently share
findings with the Twitter team. This approach would include the external Twitter community to help shape Twitter’s product vision. We
could get real-time feedback from potential customers about the
Option
ideas we’re considering and engage them as partners rather than
just as customers. On the other hand, we wouldn’t be able to share some sensitive issues with non-Twitter employees. And we couldn’t always be confident
about the perspectives we get—not everyone necessarily has the experience
and perspective to weigh in on how to run a complex business like ours.
Now, put yourself in Michael’s shoes. Which option would you choose,
and why?
You Choose
Which Option would you choose, and why?
Option 1
Option 2
Option 3
See what option Michael chose in MyMarketingLabTM
A
MyMarketingLab™
1
Improve Your Grade!
1
Over 10 million students improved their results using the Pearson MyLabs.
Visit mymktlab.com for simulations,9tutorials, and end-of-chapter problems.
ISBN 1-323-75008-8
1
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S
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Marketing: Real People, Real Choices, Ninth Edition, by Michael R. Solomon, Greg W. Marshall, and Elnora W. Stuart. Published by Pearson.
Copyright © 2018 by Pearson Education, Inc.
4
PART O N E
|
U N DE R S TA ND T H E VA LU E P R O PO SI TI O N
Chapter 1
1.1
Marketing: What Is It?
Marketing. People either love it or hate it. The crazy part of this is that
whether they love it or hate it, most folks really do not understand
Explain what market- what marketing really is! How about when a Chris Cornell concert in
Australia entices fans from Peoria, Illinois, to travel around the globe
ing is, the marketing
just to scream in ecstasy alongside the Aussies. Is that marketing?
mix, what can be
When Donald Trump and Hillary Clinton spend millions to get your
marketed, and the
vote—is that marketing? And then, of course, there are those e-mails
value of marketing.
that fill your inbox from Amazon.com, suggesting products that might
(pp. 4–11)
entice you to let go of some hard-earned cash. Yes, these are all examples of marketing. And that’s just scratching the surface.
Vknow a lot about marketing; it’s been a part of your life from
Of course you already
day one. As one of millions
I of consumers, you are the ultimate user of a good or service.
Every time you purchase or use your car, your clothes, your lunch at the cafeteria (whether
C
an old-school burger or a vegan version), a movie, or a haircut, you are part of the marketK tell you why—and why you should care.
ing process. In this book, we’ll
Indeed, consumers like
E you (and your humble authors!) are at the center of all marketing activities. By the way, when we refer to consumers, we don’t just mean individuR
als. Organizations, whether a company, government, sorority, or charity, are made up of
S
consumers.
Here’s the key: Marketing
, is first and foremost about satisfying consumer needs. We like to
say that the consumer is king (or queen), but it’s important not to lose sight of the fact that
the seller also has needs—to make a profit, to remain in business, and even to take pride in
selling the highest-qualityTproducts possible. Products are sold to satisfy both consumers’
and marketers’ needs; it’s E
a two-way street.
When you ask people to define marketing, you get many answers. Some people say,
A
“That’s what happens when a pushy salesman tries to sell me something I don’t want.”
R simple—TV commercials.” Students might answer, “That’s
Many people say, “Oh, that’s
a course I have to take before
D I can get my business degree.” Each of these responses
has a grain of truth to it, but the official definition of marketing the American Marketing
R
Association adopted in 2013 is as follows:
OBJECTIVE
consumer
The ultimate user of a good or service.
marketing
Marketing is the activity, set of institutions,
and processes for creating, communicating,
delivering, and exchanging offerings that have
value for customers, clients, partners, and society
at large.1
A
Marketing is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers,
clients, partners, and 1
society at large.2
The basic idea behind
1 this somewhat complicated definition is that marketing is all
about delivering value to everyone whom a transaction affects. That’s a long-winded
9
explanation. Let’s take it apart to understand exactly what marketing is all about.
1
T
“Marketing Is the Activity, Institutions, and Processes . . .”
S
As we will discuss throughout this book, marketing includes a great number
Marketing: Real People, Real Choices, Ninth Edition, by Michael R. Solomon, Greg W. Marshall, and Elnora W. Stuart. Published by Pearson.
Copyright © 2018 by Pearson Education, Inc.
ISBN 1-323-75008-8
of
activities—from top-level market planning by the chief marketing officer (CMO) of a
big company to the creation of a Facebook page by your university. The importance organizations assign to marketing activities varies a lot. Top management in some firms
is marketing oriented (especially when the chief executive officer, or CEO, comes from
the marketing ranks), whereas in other companies marketing is an afterthought. Ten
percent of the Fortune 100 U.S. CEOs, more than one out of five (21%) of the Financial
Times Stock Exchange (FTCE) 100 CEOs in the United Kingdom, and 40 percent of
those with consumer and healthcare firms come from a marketing background—so
stick with us!3
C H APTER 1 |

5
In the text we discuss many of the activities of marketing that include:
š Better understanding of customer needs through marketing research
š Selecting the people or organizations in the market that are your best bets for success
š Developing the product
š Pricing the product
š Getting the product to the consumer
We’ll also learn about a variety of institutions that help firms create a better marketing
program:
š Advertising agencies that firms work with to create and deliver a variety of marketing
communication activities including traditional advertising as well as newer digital
communications, sales promotion, and research activities V
š Marketing research firms such as Nielsen that provide data Ivital to the planning and
implementation of successful marketing programs
C
K
š The Internet and social media
E marketing occurs in a
š Governments that enforce laws and regulations to make sure
fair and ethical manner
R
š Logistics firms that get the product to the consumer most efficiently
S
š Retailers that interact directly with the final customer
,
š The traditional media
We also talk about some of the processes marketers use in combination with these institutions to satisfy customer needs—the end-all for all marketing activities.
T
Whether it is a giant global producer of consumer products such as Proctor & Gamble
E
or a smaller organization such as Eskimo Joe’s of Stillwater, Oklahoma
(we’ll talk more
about Eskimo Joe’s in Chapter 12), a marketer’s decisions affect—and
are
affected
by—the
A
firm’s other activities. Marketing managers must work with financial and accounting ofR budgets, and to deterficers to figure out whether products are profitable, to set marketing
mine prices. They must work with people in manufacturing to beD
sure that the new iPhone
is produced on time and in the right quantities for those avid iPhone fans that camp out in
R
front of Apple stores to get their hands on the new model. Marketers also must work with
Aconsumers’ needs.
research-and-development specialists to create products that meet
ISBN 1-323-75008-8
“. . . for Creating, Communicating, Delivering,
1
and Exchanging: The Marketing Mix . . .” 1
As we said, marketing is about satisfying needs. To do this, marketers need many tools. The
9
marketing mix is the marketer’s strategic toolbox. It consists of the tools the organization
1 These tools include
uses to create a desired response among a set of predefined consumers.
the product itself, the price of the product, the promotional activities
T (such as advertising)
that introduce it to consumers, and the places where it is available. We commonly refer to
S
the elements of the marketing mix as the Four Ps: product, price, promotion, and place.
Although we talk about the Four Ps as separate parts of a firm’s marketing strategy, in
reality, product, price, promotion, and place decisions are interdependent. Decisions about
any single one of the four are affected by, and affect every other marketing mix decision. For
example, what if Superdry (a rapidly growing Japanese apparel company) decides to introduce a leather biker jacket that is higher end than the ones it makes now? If the company uses
more expensive materials to make this item, it has to boost the selling price to cover these
higher costs; this also signals to consumers that the garment is more upscale. In addition,
Superdry would have to create advertising and other promotional strategies to convey a topquality image. Furthermore, the firm must include high-end retailers like Neiman Marcus,
marketing mix
A combination of the product itself, the price
of the product, the promotional activities
that introduce it, and the place where it is
made available, that together create a desired
response among a set of predefined consumers.
Four Ps
Product, price, promotion, and place.
Marketing: Real People, Real Choices, Ninth Edition, by Michael R. Solomon, Greg W. Marshall, and Elnora W. Stuart. Published by Pearson.
Copyright © 2018 by Pearson Education, Inc.
6
PART O N E
Figure 1.1
|
U N DE R S TA ND T H E VA LU E P R O PO SI TI O N
Snapshot | The Marketing Mix
The marketing mix is the marketer’s strategic toolbox.
Product
strategies
Place
strategies
VProduct
IWhat have you spent your money and time to get recently? A
pizza on Friday night, a concert on the weekend, a new tennis
C
racket so you can beat all your buddies on the court, maybe
K
even a “wonderful” Marketing textbook? These are all products.
EA product can be a good, a service, an idea, a place, a person—
whatever a person or organization offers for sale in the exchange.
R
Creating new products is vital to the success and even the life of
San organization. The product, one aspect of the marketing mix,
,includes the design and packaging of a good as well as its physi-
The Marketing
Mix
Price
strategies
product
A tangible good, service, idea, or some
combination of these that satisfies consumer or
business customer needs through the exchange
process; a bundle of attributes including
features, functions, benefits, and uses.
promotion
The coordination of a marketer’s communication
efforts to influence attitudes or behavior.
cal features and any associated services, such as free delivery.
The product is a combination of many different elements,
T
all of which are important to the product’s success. Think about
Promotion
Eyour college education—an expensive product. You are buystrategies
ing more than the boring lecture in that chemistry class (or the
A
awesome lecture in your marketing class). You are also paying for the health center with a
R
weight room, pool and a rock-climbing
wall, for the classroom building, and maybe for the
bragging rights of graduating
from
a
“Big
Ten” school.
D
R
A with advertising, promotion, also referred to as marketing
Although we all are familiar
Promotion
communication, includes many different activities marketers undertake to inform consumers about their products and to encourage potential customers to buy these products.
1
Marketing communication takes the form of personal selling, TV advertising, store coupons,
billboards, magazine ads, 1
publicity releases, web pages, social media sites, and a lot more.
Today marketers are quickly
9 moving much of their energy and money to devising and implementing digital marketing communications including mobile marketing, location-based
1
marketing, behavioral digital marketing, and, of course, social media marketing.
Place
place
The availability of the product to the customer at
the desired time and location.
price
The assignment of value, or …
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