MKTG 100-07 Take Home Final Instructions Choose six of the below questions to answer. Read each part of the question carefully, and be sure to answer all parts of the questions, relating it and using terms and concepts from class to demonstrate your knowledge. There is no length suggestion or requirement; use your discretion on first answering the questions thoroughly and completely. A 200-400 words response is a rough recommendation if you are seeking a guideline. Please state the question you are answering in your paper so I can easily match your responses. Points 120 points total, 20 per question 1.Over the last decade, a number of agricultural producers have broken free of pure competition, creating a meaningful difference—and commanding higher prices—for entire categories such as hormone-free milk and organic produce, and for individual brands such as Dole pineapples and Chiquita bananas. But many agricultural products remain undifferentiated. Examples include watermelons, carrots, and pears. Choose one example and develop a strategy to differentiate that product in the minds of consumers. Do you think consumers would be willing to pay more for it? 2.Many multinational companies market products under different brand names when conducting business overseas. For example, Unilever's Axe Body Spray is called Lynx in the United Kingdom and Australia. Research some of your favorite brands (or products that you buy regularly), and list if and how they use alternate product names when conducting business in foreign markets. Then, explain why a company might use a different brand name abroad. 3.Taking a code of ethics "off the wall and into the hall" can be a particular challenge for medium to large firms with a diverse array of employees. Imagine that you are the president of a ten-location casual dining restaurant chain that operates in your state. You have recently developed a code of ethics that you unveiled last month at a meeting with your restaurant managers. But as you've visited the various restaurants and chatted with the employees this month, you've realized that most of them know nothing about the code of ethics other than that it's posted on the break room wall. Clearly, you need to bring the code of ethics to life. Outline a training plan to help employees at all levels—from bussers to kitchen managers—understand and live by the code of ethics.
4. A typical partnership agreement spells out details, such as the initial financial contributions each partner will make, the specific duties and responsibilities each will assume, how they will share profits (and losses), how they will settle disagreements, and how they will deal with the death or withdrawal of one of the partners. Well-written agreements can prevent common misunderstandings. Do research on the Internet to create a checklist regarding the steps, forms, and fees needed to establish a general partnership in your state. Explore what's required for naming the partnership, what should be covered in the partnership agreement, and the steps needed to register for tax purposes at both the state and federal levels. 5. The past several years have seen a number of significant accounting scandals have been uncovered across the business world in companies ranging from tech companies like Hewlett Packard and Groupon, to snack companies like Diamond Foods, and camera and medical equipment maker Olympus. Research online news sites to find a recent accounting scandal, and using class concepts and terms, describe the violations committed by the company. 6. Choose a company and obtain a copy of its most recent annual report. (Usually, you can access annual reports simply by clicking on the link for investors, usually found on the company's home page. You can also try the IRIN Annual Report Resource Center at www.irin.com, or Annual Reports.com at http://www.annualreports.com.) Using the financial statements, calculate three of the ratios described in this chapter. What conclusions can you draw from these ratios about the company's financial strengths and weaknesses? 7. As marketing expands well beyond its traditional boundaries, a growing number of states are actively promoting themselves. Think of four or five examples that you've encountered. Now use the Internet to research marketing efforts in your own state. Do they aim to attract businesses or tourists? Are their efforts local or more far-reaching? What benefits do they tout? Do you believe that your state delivers on its marketing promises? Why or why not? If your state doesn't actively market itself, research another state in your region that does. 8. Choose an example of a multi-channel marketer that you're familiar with (e.g., a farmer that sells
produce via a local farmer's market and via local restaurants, or a musician that sells products at concerts and via Spotify, etc.). If possible, interview the owner or manager of the business you choose. Why does that business only use multiple one distribution channels? Which channel is most profitable? Would any other channels make sense? Recommend a distribution strategy for the business. What are the pros and cons of each channel? Do you think the business will ultimately pursue another channel? Why or why not? 9. Examine your own skill set, drawing on your work experience, schooling, travel, sports, hobbies, and extra-curricular activities. Cluster your skills into each key management category: technical skills, human skills, and conceptual skills. Which skill set is the strongest? How could you develop your weaker areas? How might your strengths and weaknesses impact your career plans? 10.Take some time to browse through the U.S. Bureau of Labor Statistics website (www.bls.gov), a rich source of detailed information about employment and the economy. What information do you think would be most helpful from an employer standpoint? From a worker standpoint? Next, find the charts that project the fastest-growing occupations and industries, and list the top five in each category. How could this information affect your career planning? When might it make sense to seek a job in a declining occupation or industry? Explain your answers. 11.Does the current way information technology is distributed and used contribute to unequal opportunities within our society? Do some research on the Internet to learn about the digital divide. What is this divide, and why should we be concerned about it? How has this divide changed over the years? How can the divide be bridged? 12.The auto company you work for is about to open a new factory in one of two locations, the United States or China. Research the costs involved in operating a factory in both countries, such as labor, meeting government regulations, dealing with competition, and transportation. Which location would you choose and why?
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