● Describe the current competitive market for your product. Can you identify the number of brands
or the market share that they hold? Expand your analysis to include other products that are
similar or could be substituted for yours.
● Using the business-cycle pattern, in which of the four stages is the current state of the economy?
Can you identify changes in consumer buying power that would affect the sale and use of your
product?
● Referring to Tables 3.2 and 3.3, do you recognize any laws or regulatory agencies that would
have jurisdiction over your type of product?
● Conduct a brief technology assessment, determining the impact that technology has on your
product and its sale or use.
● Discuss how your product could be affected by changes in social attitudes, demographic
characteristics, or lifestyles.
Chapter 4
Because social responsibility and ethics often have significant impacts on the success of marketing
strategies, companies must consider the impact of their marketing plan. A marketing strategy is dynamic.
Companies must continually monitor the marketing environment not only to create their marketing
strategy, but also to revise it if necessary. The following questions will help you to understand how the
information in this chapter contributes to the development of your marketing plan:
● What values, beliefs, goals, norms, and rituals are central to your marketing plan?
● Referring to Table 4.2, do you recognize any sustainability issues that would have an impact on
your type of product?
● How do you plan to incorporate socially responsible activities to generate positive publicity and
boost product sales?
● Discuss how you would promote socially responsible and ethical behavior while achieving
organizational goals related to your product