Podcast
Questions and Answers
What flavor of Doritos was introduced in 1972?
What flavor of Doritos was introduced in 1972?
- Cool Ranch
- Nacho Cheese (correct)
- Flamin' Hot
- Spicy Nacho
Doritos was invented by a Frito-Lay executive named Arch West.
Doritos was invented by a Frito-Lay executive named Arch West.
False (B)
What role can a marketing manager at a firm such as Doritos have?
What role can a marketing manager at a firm such as Doritos have?
- Compliance officer
- Property manager
- Inventory manager
- Brand manager (correct)
Airbnb hosts are required to pay the same taxes as traditional hotels in all jurisdictions.
Airbnb hosts are required to pay the same taxes as traditional hotels in all jurisdictions.
What are the four Ps of the marketing mix?
What are the four Ps of the marketing mix?
What is the name of the AR lens that Doritos launched on Snapchat?
What is the name of the AR lens that Doritos launched on Snapchat?
In 2023, Doritos partnered with a European distillery to offer a Doritos flavored ______.
In 2023, Doritos partnered with a European distillery to offer a Doritos flavored ______.
Value creation occurs only when a buyer purchases a product.
Value creation occurs only when a buyer purchases a product.
What are some complaints that neighbors have regarding Airbnb rentals?
What are some complaints that neighbors have regarding Airbnb rentals?
Match the following Doritos collaborations with their respective products:
Match the following Doritos collaborations with their respective products:
Airbnb has listings in over ______ countries.
Airbnb has listings in over ______ countries.
What is an example of an intangible product offered by a company?
What is an example of an intangible product offered by a company?
Match each aspect of marketing management with its corresponding focus area:
Match each aspect of marketing management with its corresponding focus area:
The process of trading things of value between a buyer and a seller is called __________.
The process of trading things of value between a buyer and a seller is called __________.
Which social media platform does Doritos utilize for engaging video content and challenges?
Which social media platform does Doritos utilize for engaging video content and challenges?
Doritos is owned by PepsiCo and operates completely independently.
Doritos is owned by PepsiCo and operates completely independently.
What is a potential benefit of Airbnb for local economies?
What is a potential benefit of Airbnb for local economies?
Match the following companies with their primary offering:
Match the following companies with their primary offering:
Which element is NOT a part of the four Ps?
Which element is NOT a part of the four Ps?
What is the target demographic for Doritos mentioned in the content?
What is the target demographic for Doritos mentioned in the content?
Airbnb has improved travel by making it more accessible and comfortable for travelers.
Airbnb has improved travel by making it more accessible and comfortable for travelers.
What is one responsibility Airbnb may have to local residents?
What is one responsibility Airbnb may have to local residents?
Successful marketing managers focus solely on product development.
Successful marketing managers focus solely on product development.
How do marketers typically begin their discussion of the marketing mix?
How do marketers typically begin their discussion of the marketing mix?
What is the primary economic responsibility of for-profit firms?
What is the primary economic responsibility of for-profit firms?
Firms only have to abide by the laws of their home country.
Firms only have to abide by the laws of their home country.
What is corporate philanthropy?
What is corporate philanthropy?
The LEGO Group is a privately held company based in __________.
The LEGO Group is a privately held company based in __________.
Which of the following best describes the ethical challenges facing marketers?
Which of the following best describes the ethical challenges facing marketers?
The LEGO Group believes that play contributes to a child's growth and development.
The LEGO Group believes that play contributes to a child's growth and development.
Who owns the LEGO Group?
Who owns the LEGO Group?
Match the CSR dimensions with their descriptions:
Match the CSR dimensions with their descriptions:
Which groups can be considered stakeholders in ethical decision-making?
Which groups can be considered stakeholders in ethical decision-making?
Discussing decisions with stakeholders is unnecessary in ethical decision-making.
Discussing decisions with stakeholders is unnecessary in ethical decision-making.
What is the main purpose of brainstorming alternatives in ethical decision-making?
What is the main purpose of brainstorming alternatives in ethical decision-making?
After identifying stakeholders, the next step in the ethical decision-making framework is to consider all available ______.
After identifying stakeholders, the next step in the ethical decision-making framework is to consider all available ______.
What does 'seeing through a problem to the other side' refer to in the decision-making process?
What does 'seeing through a problem to the other side' refer to in the decision-making process?
Match the steps in the ethical decision-making framework with their descriptions:
Match the steps in the ethical decision-making framework with their descriptions:
It is important to monitor and assess the quality of decisions as circumstances change over time.
It is important to monitor and assess the quality of decisions as circumstances change over time.
What was a significant consequence faced by Nutella concerning their marketing practices?
What was a significant consequence faced by Nutella concerning their marketing practices?
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Study Notes
Doritos: Snack Favorite
- Doritos is the preferred snack brand among Generation Z, as reported by Fortune Magazine.
- The product lineup includes popular flavors such as nacho cheese, Cool Ranch, and Flamin' Hot.
- Collaborations with Taco Bell led to creations like Doritos Locos Tacos and Doritos Crunch Wrap.
- In 2023, a partnership with a European distillery resulted in a Doritos-flavored liquor.
- The origins of Doritos are disputed; one theory attributes its invention to Casa de Fritos at Disneyland in the 1960s, while another credits Frito-Lay executive Arch West.
- By 1966, Doritos was sold nationwide, and the nacho cheese flavor was introduced in 1972.
- The brand utilizes humor and engagement on social media platforms like TikTok through celebrity content and dance challenges.
- The "Another Level Initiative" allows users to convert real-world triangles into Doritos in augmented reality using Snapchat's "Triangle Tracker."
- Owned by PepsiCo, Doritos has maintained strong brand power through innovation and meaningful customer engagements.
Overview of Marketing
- Understanding marketing principles is crucial for professional and personal success, regardless of major.
- Marketing encompasses more than just online advertising; it involves strategic management of diverse product portfolios across different markets.
- Marketing managers may assume roles like brand manager or segment manager, focusing on specific aspects of marketing operations.
Responsible Marketing: Airbnb Impacts
- Airbnb boasts over 7 million listings across 220 countries, reshaping the travel industry.
- The platform claims to benefit local economies by encouraging guests to spend at local businesses.
- However, residential neighbors raise concerns about frequent traveler noise, property damage, and theft.
- Transparency issues arise as homebuyers may not disclose intentions to rent properties on Airbnb.
- Unlike hotels, Airbnb often dodges lodging taxes, allowing for lower prices, impacting local tax revenues.
- The pros and cons of Airbnb's impact on communities remain a point of debate.
Value Creation
- Value Creation: Achieved when consumers use products or services that fulfill their needs.
- Exchange: Occurs when buyers and sellers trade value, benefiting both parties.
- Marketers create value through product design, pricing strategies, placement, and promotional efforts (the four Ps).
The Four Ps of the Marketing Mix
- The four Ps (Product, Price, Place, Promotion) are integral to the marketing mix, influencing customer perceptions and demand.
- Strategic adjustments in any element can enhance value and competitive advantage for firms.
Product
- The product is essential; firms must innovate to meet consumer needs and provide comprehensive services alongside goods.
- Example: Kroger offers a variety of products and services, including online ordering and in-store assistance.
Ethical Decision-Making Framework
- Stakeholders: Identify impacted groups (employees, customers, suppliers) when making decisions.
- Alternatives: Brainstorm options considering different stakeholder perspectives.
- Impact Analysis: Predict how decisions will affect all stakeholders involved.
- Feedback and Discussion: Engage stakeholders for input before finalizing decisions.
- Decision Monitoring: Assess impacts post-decision, adjusting as needed based on shifts in the environment and consumer sentiment.
Dimensions of Corporate Responsibility
- Economic: Companies must be profitable to survive and support stakeholders.
- Legal: Adherence to laws and regulations is essential for maintaining integrity.
- Ethical: Marketers face ethical challenges; understanding impacts on stakeholders aids in making responsible decisions.
- Philanthropic: Engaging in corporate philanthropy benefits communities and promotes brand visibility.
LEGO's Corporate Responsibility
- The LEGO Group emphasizes the importance of quality play in children's development and creativity.
- Legal practices reflect the company's core values, focusing on integrity and compliance with anti-bribery laws.
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