Overview of Marketing: Doritos Snack Favorite

Questions and Answers

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.

False

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.

False Signup and view all the answers

What are the four Ps of the marketing mix?

Product, price, place, promotion Signup and view all the answers

What is the name of the AR lens that Doritos launched on Snapchat?

Triangle Tracker Signup and view all the answers

In 2023, Doritos partnered with a European distillery to offer a Doritos flavored ______.

liquor Signup and view all the answers

Value creation occurs only when a buyer purchases a product.

False Signup and view all the answers

What are some complaints that neighbors have regarding Airbnb rentals?

Noise complaints, theft, and property damage. Signup and view all the answers

Match the following Doritos collaborations with their respective products:

Taco Bell = Doritos Crunch Wrap European Distillery = Doritos flavored liquor Frito-Lay = Nacho Cheese flavor Signup and view all the answers

Airbnb has listings in over ______ countries.

220 Signup and view all the answers

What is an example of an intangible product offered by a company?

Services Signup and view all the answers

Match each aspect of marketing management with its corresponding focus area:

Brand manager = Focuses on promoting a specific brand Segment manager = Targets specific customer groups Growth manager = Aims at increasing market share Consumer engagement manager = Enhances interaction with customers Signup and view all the answers

The process of trading things of value between a buyer and a seller is called __________.

exchange Signup and view all the answers

Which social media platform does Doritos utilize for engaging video content and challenges?

Tik Tok Signup and view all the answers

Doritos is owned by PepsiCo and operates completely independently.

False Signup and view all the answers

What is a potential benefit of Airbnb for local economies?

Increased spending in local businesses Signup and view all the answers

Match the following companies with their primary offering:

Kroger = Supermarket and online services Amazon = E-commerce and logistics Starbucks = Coffeehouse and beverages Netflix = Streaming media service Signup and view all the answers

Which element is NOT a part of the four Ps?

People Signup and view all the answers

What is the target demographic for Doritos mentioned in the content?

Generation Z Signup and view all the answers

Airbnb has improved travel by making it more accessible and comfortable for travelers.

True Signup and view all the answers

What is one responsibility Airbnb may have to local residents?

Disclosing rental status to homeowners. Signup and view all the answers

Successful marketing managers focus solely on product development.

False Signup and view all the answers

How do marketers typically begin their discussion of the marketing mix?

With the product Signup and view all the answers

What is the primary economic responsibility of for-profit firms?

To be profitable Signup and view all the answers

Firms only have to abide by the laws of their home country.

False Signup and view all the answers

What is corporate philanthropy?

The act of organizations voluntarily donating some of their profits or resources to charitable causes. Signup and view all the answers

The LEGO Group is a privately held company based in __________.

Billund, Denmark Signup and view all the answers

Which of the following best describes the ethical challenges facing marketers?

They often contain gray areas. Signup and view all the answers

The LEGO Group believes that play contributes to a child's growth and development.

True Signup and view all the answers

Who owns the LEGO Group?

The Kirk Kristiansen family Signup and view all the answers

Match the CSR dimensions with their descriptions:

Economic dimension = Obligation to be profitable and support stakeholders Legal dimension = Responsibility to understand and follow laws Ethical dimension = Accountability for ethical decision-making Philanthropic dimension = Voluntary donation to charitable causes Signup and view all the answers

Which groups can be considered stakeholders in ethical decision-making?

Employees, customers, suppliers, shareholders, and the community Signup and view all the answers

Discussing decisions with stakeholders is unnecessary in ethical decision-making.

False Signup and view all the answers

What is the main purpose of brainstorming alternatives in ethical decision-making?

To find creative, ethical, and useful solutions from different perspectives Signup and view all the answers

After identifying stakeholders, the next step in the ethical decision-making framework is to consider all available ______.

alternatives Signup and view all the answers

What does 'seeing through a problem to the other side' refer to in the decision-making process?

Considering how a decision will affect all stakeholders Signup and view all the answers

Match the steps in the ethical decision-making framework with their descriptions:

Identify stakeholders = Determine who is affected by the decision Brainstorm alternatives = Generate various potential solutions Discuss with stakeholders = Engage those affected for feedback Monitor and assess = Evaluate the impact of the decision over time Signup and view all the answers

It is important to monitor and assess the quality of decisions as circumstances change over time.

True Signup and view all the answers

What was a significant consequence faced by Nutella concerning their marketing practices?

$20 per jar refund to customers Signup and view all the answers

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.

Studying That Suits You

Use AI to generate personalized quizzes and flashcards to suit your learning preferences.

Description

This quiz explores the marketing strategies of Doritos, a popular snack brand among Generation Z. Discover how Doritos has innovated its products and collaborated with other brands like Taco Bell. Test your knowledge on their unique marketing approaches and partnerships in 2023.