Jessica Schienschang MK301 - Assignment #2

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School

Southern Illinois University, Carbondale *

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Course

304

Subject

Marketing

Date

Feb 20, 2024

Type

docx

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Uploaded by PresidentWrenMaster461

Jessica Schienschang MK301 Assignment #2 05/17/22 Assignment details - Identify the best video you watched from those provided in this week's list in Canvas related to the chapters during this week. Discuss how did the videos apply to two or three points (concepts) in marketing. So, explain how the videos apply to the concepts by additionally identifying the Chapter (chapter number and title) and reference the specific topic in the chapter (section title and page number) from the text. Video #1 : The first video I decided to take a look at this week went into depth on how individuals’ financial behaviors have changed since pre-COVID19. I wanted to learn something from this video because Covid19 has affected everyone in the world in some way. Jeanne Thompson the vice president of fidelity investments discussed how most individuals with over a million dollar saved that money. Many started investing in their early twenties into a 401k or invested in stocks. “Save up to the company match” and “profit sharing” are discussed. Growth is very important you shouldn’t be leaving free money on the table. Individuals should save 8 times their salary or more depending on how early they retire or make during their career. This video gave me some insight on how important it is to save and invest properly. I would relate this video to some of the examples mentioned on chapter 2 of the text on page 50. It briefly discusses risk taking which has to do with anyone investing in stock. It may seem scary “risky” but the reward could land you a comfortable retirement without having to start investing in your early twenties, which you may have already missed out on. Chapter 2 also discussed COVID-19 as an argument for a single marketplace on page 5. Video #2: I chose “How Beyond Meat Makes Juicy Burgers from Plants,” as my second video to discuss because I have never been a vegan or plant-based eater. However, some of my closest friends choose to eat plant-based food selections so I was very interested. CEO Ethan Brown, discussed meat 2.0 and opportunity for consumers to eat differently rather than trying to direct individuals to not eat meat. He is simply bringing a new opportunity to the consumer with a new way of eating a burger. The 2.0 is also more environmentally efficient with reduced water by 99%, land 93% and much more. The way he markets his meat is by stating yes meat from an animal is meat. Yet, meat can also come from the components of a plant as well. He wants his consumers to get protein just in a new form. I think this video pertains to some of the ideas discussed in chapter 2 on page 14. This part of the chapter gets into the importance quality goods and services for the country/world. Beyond meat is offering a new opportunity for individuals to try meat in a new way. Also, on page 19

brings up competitive intelligence between competition which is exactly what beyond meat did when they compared the environmental benefits of the 2.0 burger compared to a real one. Video #3: I chose to watch the impossible whopper video third because I was just reading an article the other day about how no one was sure how Burger King is still in business. The impossible burger is considered “the tesla of food” and will come out in 59 restaurants soon. The burger fits the bun perfectly and there is specific engineering to back the burger the best possible. Like the beyond burger the whopper is also plant based. Lots of science and machinery went into it. “Consumers quickly feel schooled like they should’ve been eating the impossible the entire time” and would be willing to pay a premium for it. I believe that the “Impossible Whopper” video connected a lot with chapter three in the text book considering it has to do with strategic marketing. Burger king scientist and engineers used business planning the ongoing process of making decisions the guide the firm in long- or short- term goals, to help create the impossible burger (page 4). The scientist used the negatives of the regular whopper such as the shrinking patty and reduced grill lines to help them create the strengths of the new burger. The impossible burger took careful planning an experimenting to perfect the product. Now there are defined grill marks and no “bun only bites”, which leads consumers to paying that premium extra dollar.

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