Using at least one mainstream popular medium (e.g., magazine, newspaper, web link, et al) find one news-worthy marketing-related article that best provides an excellent and current example that will allow you to fully comprehend, apply, analyze, synthesize and discuss consumer behavior and “product,” the first “P” in the marketing mix. The more recent the article the better.
Your selection should be an article that has “consequence” (is important to a lot of people for a lot of reasons) and will serve to illustrate marketing-related concepts.
It doesn’t matter if the article relates to a consumer or business product. What IS important is that it is timely “news” about a brand currently being (or soon to be) marketed, or a marketing environmental change. The article ideally will allow you to briefly summarize its newsworthiness, as well as any important product and/or consumer behavior-related points that you can tie in from your textbook readings.
You should cover the following in paragraph form in the order provided:
1. Introduce the article and summarize its essence. Answer the following question: “Why is this article a good choice to help us learn more about product and consumer behavior?”
2. Provide relevant quantitative (ROI, profitability, etc.) and qualitative (nature of business, social responsibility, etc.) information about the brand. If it’s a new product, then give a brief description of the industry as a whole.
3. Identify and explain any current or future external favorable and/or unfavorable economic, technological, political, legal, cultural, social, and other environmental factors and trends (including competition) that you think may impact the product-market you've identified.
4. Briefly discuss what you think (or can find via additional research) are possible segmenting dimensions such as demographics, geographics, etc.), as well as the potential size (number of people, dollar purchase potential, likely growth), and any key psychological and social influences on buying the product (e.g., what needs does this product satisfy?).
5. Identify 1) who the current (and potential) competitors are for this brand; and 2) the product’s potential competitive advantage (i.e., unique selling proposition).
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Starbucks is an American global coffee chain with origins from Seattle. The company is present in over 60 countries worldwide and is one of the biggest coffee house companies in the world. Starbucks’ products and their customer service is known worldwide, and the company has managed to build a strong brand image and awareness globally. The Italian coffee market size is very large and the competition is strong. On the other hand, when looking at the socio cultural aspects of this market, Italians honor coffee as a tradition, and their coffee experience is highly personal. The article presented in this paper talks about Starbucks going into Italy, from which we could apply the theoretical assumptions learned about the product consumer fit on the market, as well as which factors play the most important role in decisions of how to best implement the marketing mix in order to suit the Italian market...
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