Module 2 Assignment

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Boise State University *

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Feb 20, 2024

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Assignment: Module 2 The Learning Module Assignments provide you with an opportunity to apply course concepts to “real world” situations and prepare you for the Exams. The Exams will ask you to demonstrate understanding of the Key Concepts covered in the Module Assignments, so it’s important to make sure you understand them. (Pro Tip: Underlined terms refer to key concepts you can locate in the textbook and Key Concepts Videos). FORMAT GUIDELINES Please answer the questions directly in this document and submit it as a Microsoft Office compatible document. Don’t worry about page length or word count...focus on the assignment deliverables, course concepts, relevant research, and supporting materials. All sourced content should be properly cited. This includes intext citations and a works cited section. Use MLA format please. Grading Rubric Each question is worth up to 1 point. I am typically asking you to apply one or more specific course concepts (usually underlined in the question) to the specific scenario. Make sure you understand what I’m asking for. If it’s not 100% clear, please post questions to the appropriate Module Discussion Topic. Attempting to apply the wrong course concept will typically result in a zero score. 100% = a “correct” response that applies appropriate course concepts and/or research findings to the specific question and explaining why you chose your answer. 80% = a “correct” response with a reasonable explanation but lacks complete application of appropriate course concepts and/or a thorough explanation. 60% = a “correct” response with no explanation (a.k.a. “lucky guess”) or an “incorrect” answer that applies appropriate course concepts to the specific question, justifying your answer, and explaining why you chose your answer. 0% = Failure to answer the question correctly (or at all). Late Policy: Review syllabus for details.
INSTRUCTIONS Answer the following questions and upload this Microsoft Word compatible document to the Learning Module Assignment dropbox on Canvas. Developing Marketing Strategies and a Marketing Plan (Chapter 2) 1. Consider 7/11 convenience stores (Google if you aren’t familiar with them). Which of the following macro marketing strategies seems to give them a sustainable competitive advantage? ( Highlight one answer) a. Customer Excellence b. Operational Excellence c. Product Excellence d. Locational Excellence Explain your answer using course concepts: 7/11 uses a Locational Excellence Strategy in order to give them a competitive advantage. The general concept of locational excellence is that the business / brand has good location and internet presence. They accomplish this through being smart about their where their stores are, making sure that there’s just enough for customer convenience but not too many stores that they’re actively losing profit through oversaturating the local market. 2. Consider the company Rivian (Google if you aren’t familiar with them). Which of the following growth strategies do they seem to be using? ( Highlight one answer) a. Market Penetration b. Market Development c. Product Development d. Diversification Explain your answer using course concepts: Rivian leans into a product development based growth strategy. Product development Strategy employs the use of a firm’s target market and introduces a new product or service. Rivian is an electric car manufacturing company, (targeting the sustainable car market) which decided to focus specifically on SUV and Truck style electric cars to set it apart from the rest of the electric car market.
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Conscious Marketing, Corporate Social Responsibility, and Ethics (Chapter 4) 3. In your own words, define conscious marketing . Conscious marketing is an approach in the business world that focuses on ethicality, social responsibility, and environmental sustainability within strategies of marketing. This means understanding the markets effects and greater purposes in world function, the effects the companies’ choices will have on those close and others socially and how these will be perceived. 4. Think of a company you purchase products from and briefly describe how they address/exhibit the four overriding principles of conscious marketing. Patagonia is a company I’ve purchased form who very clearly addresses the overriding principles. When looking at a higher purpose, Patagonia leans into environmentalism purposes; their mission statement being “Patagonia is in business to save our home planet” shows a commitment to environmental sustainability and impacts their business decisions (sourcing, design, partners). Patagonia has a wide range of stakeholders beyond investors, prioritizing the environment, customers, and suppliers (as well as communities through initiatives like the worn wear program [recycle / reuse clothing program]). They continue a theme of environmental sustainability in their leadership, with their founder being an advocate for sustainability within business, not to mention the brand has a history of donating a notable portion of profits towards environmental issues and causes. The brand has strong ethics as well, addressing it through transparency and fair labor practices, as well as encouraging conscious and careful purchasing towards consumers. 5. Considering the company you selected for Question 4, briefly describe their corporate social responsibility activities. Cite/reference their official CSR website/press releases. Patagonia’s main focus with CSR is fair trade certification within garment factories and quality facilities standards and increased standard of living for their workers and hopefully workers across the garment industry. According to their CSR website, “86% of the products [within their] line are made in a Fair trade Certified factory, with over “75,000 + workers [benefiting] from Patagonia’s participation in the Fair Trade Program”. They also have a sub-focus of switching from fossil fuel intensive to low till farming practices. https://www.patagonia.com/social-responsibility/ .
6. Considering the company you selected for Question 4, list the Key Conscious Marketing Stakeholders they should consider. Their focus should be / is primarily on Employees, considering their work with the Fair Trade Program and their values. They Should also focus likely keep society in mind too, considering their mission statement and environmental CSR activities they’re involved in. 7. Considering the company you selected for Question 4, where would they fall in the Ethics vs. Social Responsibility matrix? ( Highlight one answer) a. Ethical & Socially Responsible b. Unethical & Socially Responsible c. Ethical & Socially Irresponsible d. Unethical & Socially Irresponsible Explain your answer using course concepts: Patagonia has shown a commitment to Fair Trade Practices and worker welfare, committing itself to ethical labor production publicly. It also has committed itself to social responsibility through its CSR activities surrounding the environment, as well as its mission statement to commit itself to save the planet, which it has implemented programs that follow through on that social responsibility. 8. Considering the company, you selected for Question 4, copy/paste their mission statement here. Pretend you are a marketing professional working for this company and reflect on/describe whether the mission statement helps inform conscious marketing behavior. Current: “Patagonia is in business to save our home planet” Old Statement: “build the best product, cause no unnecessary harm, use business to inspire and implement solutions to the environmental crisis.” This current statement for the most part goes over the four key principles (conscious leadership isn’t as present but the statement makes a commitment to ethics, higher purpose, and stakeholders). I feel like their mission statement very clearly also informs their conscious marketing behavior which can be seen through the betterment programs they engage in and the donations they make. A little bit extra, but I wanted to include the original statement here just to also explore how Patagonia’s change / shifting mission statement can impact their conscious marketing behavior. Originally,
their statement goes over their goals both in the business realm, as well as the social realm. While not a bad mission statement (I actually quite like it) I feel like it reads a process they run through more than a statement. Their current statement is more concise, and makes a commitment to the environment more firmly, making a firm stance on their mission rather than the steps they take in the business process.
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