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1) Identify and explain the four variables of the marketing mix. Why are these
elements known as variables? Identify a company and apply the elements of
the marketing mix to that company.
a. The four variables of the marketing mix are: product, price,
distribution, and promotion. These elements are known as variables
because they are always subject to change.
b. A company that I would like to talk about is my coffee shop, Brie’sta
Coffee Company in Mountain Home, Idaho. Our product is serving
coffee and specialty espresso drinks. Our beans are grade 1 and the
top 5% in the world within that grade 1. Our customer service and
consistence is always above and beyond, therefore our competition
has a hard time competing with us with intangible service. Our prices
are very similar to the competition in town, but we do offer a 10%
military discount that no one else does and this sets our prices below
the competition. Our prices are also, on average, $.05 below the
competition on all menu items. Our shop is located in a military town
on a road called “Airbase Road”. The road is the only route to get to
the Mountain Home Air Force Base. We are above our competition in
this aspect because our shop is on the airman’s way to work and most
of the airman live on our side of town. Promotion is a big part of our
business because we want to attract as many cars passing as possible.
We have a sandwich board that we place near the road to attract
customers driving by. We also use the board to announce our
promotions such as Double Punch Tuesday, Military discount, and
Law Enforcement discount. We are always using Facebook as a way
to attract customers and give our deals as well. We also use a loyalty
system by giving out punch cards that are stamped once for every
drink purchased- twice on Tuesday- and then two stamps per drink
on Tuesdays.
2) Identify and discuss the four dimensions of social responsibility. What impact
do they have on marketing decisions? What impact do they have on the
overall valuation of a company?
a. The four dimensions of social responsibility are: philanthropic,
ethical, legal, and economical. There is a relationship between these
four dimensions and marketing decisions because companies have a
responsibility to, “be profitable so that they can provide a return on
investment to their owners and investors, create jobs for the
community, and contribute goods and services to the economy.” This
is the same for all of the factors of social responsibility. I would say
that this also correlates to the overall valuation of a company for
many of the same reasons. Companies have a duty to be socially
responsible because it not only affects them, their customers, but their
entire stakeholder population.
3) List and describe the cultural and social forces that affect international
marketing strategy.
a. Sociocultural Forces- Sociocultural forces are cultural and social
differences between countries. For instance, a thumbs up can be a
different symbol depending on the country you are in.
b. Economic Forces- Economic differences are described in the text as,
“differences in standards of living, credit, buying power, income
distribution, national resources, exchange rates, and the like…”
c. Political, Legal, and Regulatory Forces- These forces deal with
different laws of the country and rules and regulations that businesses
must follow when trying to enter the market.
d. Ethical and Social Responsibility Forces- These forces regulate bribes,
pay offs, etc. from happening. This levels out the market and prevents
shady deals.
e. Competitve Forces- Competitive forces coveres everything from
monopolies and oligopolies to forces such as general competition,
brand, product, etc.
f. Technological Forces- The greater the technology a company has they
more ability they have to communicate and act in a successful
manner. This helps with international marketing because they can
reach more customers.
4) Describe some of the ethical and legal concerns associated with e-marketing.
Should these issues be regulated by the government? Why or why not?
a. One of the main issues that is considered notable with e-marketing is
the privacy of users. Information is taken from users and then stored,
and sometimes sold, by the company to other companies for
