Marketing Strategies and Ethics Quiz

Marketing & Marketing WAB - Session 1: Course Overview

• The course covers marketing, sales, and advertising, exploring their roles in business and society.
• It highlights ethical considerations, course structure, and learning outcomes.
• The course schedule outlines various topics, including in-depth case studies, exercises, and discussions.
• The course explores marketing in different industries, such as retail, banking, technology, and digital products.
• It emphasizes real-world case studies, providing detailed analyses of successful and unsuccessful marketing campaigns.
• The material covers the historical development and evolution of marketing, from early trade to the present day, including significant changes.
• Practical exercises and interactive activities enhance learning and application.
• The summary outlines key takeaways, assignments, and recommended reading materials for continued learning.
• Ethical considerations in marketing, greenwashing, and false advertising issues are highlighted.

Introduction to Marketing

• Marketing is the process of identifying, creating, communicating, and delivering value to customers.
• It's not just about selling but involves understanding customer behavior and creating valuable products/services, communicating messages, and building relationships.
• The five core functions of marketing are market research, product development, pricing strategy, promotional activities, and distribution & customer engagement.
• Marketing emphasizes delivering value to the customer.

The Role of Marketing in Business and Society

• Marketing is essential for business success by creating awareness, establishing brand loyalty, helping adapt to changing consumer needs, enhancing customer engagement, and driving revenue.
• Businesses leverage marketing to differentiate themselves, use storytelling, use digital tools, and offer superior customer experiences, creating competitive advantages.

Course Overview and Learning Objectives

• The course includes a structure and expectations outline.
• Key learning outcomes are explicitly stated.
• The study guide offers a detailed course schedule. This includes specific content, assignments, and deadlines.

Marketing in Different Industries

• Retail and consumer goods marketing focuses on branding, promotions, and pricing strategies.
• Pricing is a key component in this area, where it must be strategically balanced for both value and affordability.
• Banking and insurance marketing emphasizes trust, compliance, and personalized services.
• Technology and digital products marketing relies on innovation, digital engagement, and data-driven strategies.

Detailed Real-World Case Studies

• Coca-Cola's marketing is a prominent example of global consistency with local adaptations.
• A case study highlights the company's success by examining their consistency while adapting to local cultural preferences.
• Amazon's case study demonstrates data-driven marketing and its role in personalizing recommendations and customer experiences.
• Apple's marketing strategies emphasize minimalist branding, emotional storytelling, customer experience, and scarcity techniques.
• Nike's approach uses emotional branding, athlete endorsements, and social media campaigns to connect with customers.
• Additional studies highlight examples from Tesla, Red Bull, and others.

Ethical Considerations in Marketing

• Ethical marketing prioritizes honesty in advertising, fair treatment of consumers and employees, protection of consumer data, and social responsibility.
• This subject highlights common ethical issues such as false advertising, misleading claims, exploiting consumers, and greenwashing, outlining potential consequences and solutions.

Greenwashing & Fake Sustainability Claims

• Greenwashing is a marketing tactic where companies falsely claim eco-friendliness without real actions.
• Case studies highlight companies, like Volkswagen and McDonald's that have been accused of greenwashing.

Ways to Keep Expanding Your Marketing Knowledge

• Staying updated on marketing trends via various platforms, including news sources, online learning platforms, and industry-specific publications, is crucial to expand and deepen one's knowledge of the field of marketing.

Assignments and Reading Materials

• Specific assignments, such as final marketing strategy papers and case study analyses, provide students with specific tasks and requirements, including deadlines.
• Recommended books and articles for further learning provide additional resources for expanding knowledge of marketing theories and concepts.