Answered: Analyse how consumer laws influence…

Principles Of Marketing

17th Edition

ISBN:9780134492513

Author:Kotler, Philip, Armstrong, Gary (gary M.)

Publisher:Kotler, Philip, Armstrong, Gary (gary M.)

Chapter1: Marketing: Creating Customer Value And Engagement

Section: Chapter Questions

Problem 1.1DQ

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Need help with my homework and can you please follow the structure on the other photo and question on seperate photo, thanks

Transcribed Image Text:It should have three parts: 1. Introduction a. Start with a thesis that answers the question (including the definition of key terms) b. Follow up with a connection to paragraph points and intro to case studies Sample Answer Globalisation refers to the increasing increasing integration between national economies and includes the reduction of barriers of trade. Globalisation has had a large impact on many business processes, allowing access to new markets and suppliers without being restricted by location. In particular, globalisation has affected the way in which businesses manage the interaction between price and product quality, particularly through the access of offshore outsourcing, economies of scale and the global web of supply chain management. In this response, the businesses Kmart, an Australian-based discount department store, Alt Apparel, a Canadian women's clothing brand, and Blackmores, an Australian pharmaceuticals company will be used to demonstrate the ways in which globalisation has impacted the price and quality interaction at their products. 2. Body Paragraphs - Be sure to include in each section: a. Define - Define the key term in the question to show understanding b. Point - Answer the question as a mini-thesis C. Example - Go deeper and explain how your business operates in relation to the question d. Implication - Use statistics as evidence to demonstrate the impact of what they did e. Link - Conclude by linking back to your thesis Sample Answer (just economies of scale section) Economies of scale refers to the mass production of goods to the point at which cost-per-unit decreases and savings are made. Discount department stores have effectively used economies of scale opportunities presented by globalisation to increase efficiency and output amounts, helping maintain their low prices. Access to overseas manufacturing led Kmart in 2016 to, rather than outsource, purchase and open 5 new large-scale factories on the island Jakarta in Indonesia. Producing up to 1600 toys and household items per minute, globalisation allowed Kmart to open these factories at a scale to which wouldn't be financially sustainable in Australia. These factories bulk manufacture low quality items in high amounts, and allow Kmart to reduce their prices. In this way, the low quality items interacting with low prices satisfy many customers demands for cheap goods and thus since opening these operations in Jakarta sales have soared, in 2017 revenues reached $432 million and profits increased by 29% to over $90 million. Therefore, the price-quality interaction allowed by economies of scale by Kmart's use of the advantages of globalisation can directly be seen to fulfill marketing goals of fulfilling customer wants and translating these into sales and profits, and hence, business success. 3. Conclusion (doesn't have to be too long!) a. Reaffirm your perspectives by restating your thesis b. Summarise how case studies support your thesis Sample Answer Overall, globalisation has had a profound impact on the price-quaty interaction of global brand's products.