Comparison And Contrast Core Beliefs/Values And Secondary Beliefs
1. Compare and contrast core beliefs/values and secondary beliefs/values. Provide an example of each.
According to our text, “Core beliefs and values are passed on from parents to children and are reinforce by schools, churches, business, and government” (Kotler & Armstrong, 2014). For example, from an early age children are always taught to be honest and not to “lie”. Lying is a straight that is learned over time as a mechanism of self-protection. So, in every professional organization, supervisors are looking for honest people to fill their positions that they know they can in trust a task too.
Secondary beliefs/values are a matter of opinion, so whomever you talk to might have a varying opinion on the topic at hand. For example, many people believe that individuals shouldn’t have children until they’re done with school and are a little more established in life, while other individuals say they want to have kids …show more content…
early in life so that they have plenty of energy to keep up with their children. Both of these opinions have their merit, but no one is more right than the other.
2. Compare and contrast a company’s microenvironment with a company’s macroenvironment.
The microenvironment of a company consists of the company, suppliers, marketing intermediaries, customer markets, competitors, and public (Kotler & Armstrong, 2014). The company of a microenvironment consists of the internal departments of a company i.e., financial, communications, or sales. These departments function on their own completing their assigned tasks; however, with the guidance of upper management, the various sections that make up the company come together to function as an entity.
Suppliers provide companies with the goods needed to produce their products, and the marketing intermediary takes those products and helps a company promote, sell, and/or distribute their products to the final buyers (Kotler & Armstrong, 2014). However, in order for marketing intermediaries to perform their job, a company must position itself against their competitors, and understand their segment of the market, and try not to compete with large companies who could potentially put them out-of-business (Kotler & Armstrong, 2014). An additional concern that can the performance of a company are the “publics”, and one of these publics is the “general public” (Kotler & Armstrong, 2014). The general public’s opinion of a company and their products is extremely important and its one of the determining factors of how successful a company will be.
The final say on the success of a company is the customers who purchase the products. Companies may choose to produce products for a particular market, but in those markets are the customers who have the final say as to the price and quality of the products being sold (Kotler & Armstrong, 2014). Customer reviews can help promote or destroy the image of a product, which in turn hurts a company’s profits and image.
The macroenvironment of a company consists of six economic factors¬ demographic, economic, natural, technological, political, and cultural. The demographic factor is ever evolving in size, education, and diversity. Since the baby boomers after WW II the population has exploded in personnel and demands for newer and more advanced products. These new consumer households, which is known as Generation Y, are working more than the baby boomers of the past and spending more, which increases demand and profitability for companies.
The economic arena is basically having a grasp on what type of market that a company is trying to sell in. If a company tries to sell subsistence goods in a market that is predominantly based on industrial goods, consumers would find the products to be irrelevant to their everyday lives. For example, if a company tries to sell a high-end product with a hefty price tag in today’s market, then they’re not going to sell very many units and will more than likely take a hit financially.
The natural environment factor is based on the resources available to make products and the influences such as the weather that can impact the sales of seasonal items (Kotler & Armstrong, 2014).
Additionally, people now have a greater since of environmental awareness so companies are using practices help support environmental sustainability (Kotler & Armstrong, 2014).
The technological revolution that the world is going through is astonishing. New products are being developed by companies every day that aid us in our daily lives. Companies have to stay on the cutting edge of technology to ensure their products out sale their competitors and one example of this is the RFID technology that is used to tracks products to ensure they get where they’re supposed to be going.
The political and social environment is populated with laws that seek a fair market for consumers to buy products without being taken advantage of, and social pressures have pushed companies to consider “doing right” by people for their long term interests (Kotler & Armstrong,
2014).
The cultural environment affect is linked to the experiences of the individuals in a company’s market segment, and consumers could have certain beliefs that need to be catered to or certain social requirements that need to met (Kotler & Armstrong, 2014).
3. Discuss the strategies used for adapting products to a global market. Which strategy is best? There are five strategies for adapting products to a global market: straight product extension, product adaptation, product invention, communication adaptation, and dual adaptation. Straight product extension is where companies take their products, which are unchanged, to a foreign market and try to sell them to the locale populous (Kotler & Armstrong, 2014). This form of adaptation is preferable for most companies because this form requires no additional money or time, but if the locale populous doesn’t approve of a company’s products, it could potentially be a total loss. Product adaptation is the process of taking your current product and molding it to meet the wants of the locale populous (Kotler & Armstrong, 2014). This process would require
According to our text, “Core beliefs and values are passed on from parents to children and are reinforce by schools, churches, business, and government” (Kotler & Armstrong, 2014). For example, from an early age children are always taught to be honest and not to “lie”. Lying is a straight that is learned over time as a mechanism of self-protection. So, in every professional organization, supervisors are looking for honest people to fill their positions that they know they can in trust a task too.
Secondary beliefs/values are a matter of opinion, so whomever you talk to might have a varying opinion on the topic at hand. For example, many people believe that individuals shouldn’t have children until they’re done with school and are a little more established in life, while other individuals say they want to have kids …show more content…
early in life so that they have plenty of energy to keep up with their children. Both of these opinions have their merit, but no one is more right than the other.
2. Compare and contrast a company’s microenvironment with a company’s macroenvironment.
The microenvironment of a company consists of the company, suppliers, marketing intermediaries, customer markets, competitors, and public (Kotler & Armstrong, 2014). The company of a microenvironment consists of the internal departments of a company i.e., financial, communications, or sales. These departments function on their own completing their assigned tasks; however, with the guidance of upper management, the various sections that make up the company come together to function as an entity.
Suppliers provide companies with the goods needed to produce their products, and the marketing intermediary takes those products and helps a company promote, sell, and/or distribute their products to the final buyers (Kotler & Armstrong, 2014). However, in order for marketing intermediaries to perform their job, a company must position itself against their competitors, and understand their segment of the market, and try not to compete with large companies who could potentially put them out-of-business (Kotler & Armstrong, 2014). An additional concern that can the performance of a company are the “publics”, and one of these publics is the “general public” (Kotler & Armstrong, 2014). The general public’s opinion of a company and their products is extremely important and its one of the determining factors of how successful a company will be.
The final say on the success of a company is the customers who purchase the products. Companies may choose to produce products for a particular market, but in those markets are the customers who have the final say as to the price and quality of the products being sold (Kotler & Armstrong, 2014). Customer reviews can help promote or destroy the image of a product, which in turn hurts a company’s profits and image.
The macroenvironment of a company consists of six economic factors¬ demographic, economic, natural, technological, political, and cultural. The demographic factor is ever evolving in size, education, and diversity. Since the baby boomers after WW II the population has exploded in personnel and demands for newer and more advanced products. These new consumer households, which is known as Generation Y, are working more than the baby boomers of the past and spending more, which increases demand and profitability for companies.
The economic arena is basically having a grasp on what type of market that a company is trying to sell in. If a company tries to sell subsistence goods in a market that is predominantly based on industrial goods, consumers would find the products to be irrelevant to their everyday lives. For example, if a company tries to sell a high-end product with a hefty price tag in today’s market, then they’re not going to sell very many units and will more than likely take a hit financially.
The natural environment factor is based on the resources available to make products and the influences such as the weather that can impact the sales of seasonal items (Kotler & Armstrong, 2014).
Additionally, people now have a greater since of environmental awareness so companies are using practices help support environmental sustainability (Kotler & Armstrong, 2014).
The technological revolution that the world is going through is astonishing. New products are being developed by companies every day that aid us in our daily lives. Companies have to stay on the cutting edge of technology to ensure their products out sale their competitors and one example of this is the RFID technology that is used to tracks products to ensure they get where they’re supposed to be going.
The political and social environment is populated with laws that seek a fair market for consumers to buy products without being taken advantage of, and social pressures have pushed companies to consider “doing right” by people for their long term interests (Kotler & Armstrong,
2014).
The cultural environment affect is linked to the experiences of the individuals in a company’s market segment, and consumers could have certain beliefs that need to be catered to or certain social requirements that need to met (Kotler & Armstrong, 2014).
3. Discuss the strategies used for adapting products to a global market. Which strategy is best? There are five strategies for adapting products to a global market: straight product extension, product adaptation, product invention, communication adaptation, and dual adaptation. Straight product extension is where companies take their products, which are unchanged, to a foreign market and try to sell them to the locale populous (Kotler & Armstrong, 2014). This form of adaptation is preferable for most companies because this form requires no additional money or time, but if the locale populous doesn’t approve of a company’s products, it could potentially be a total loss. Product adaptation is the process of taking your current product and molding it to meet the wants of the locale populous (Kotler & Armstrong, 2014). This process would require