Worksheet for week 4
Complete this worksheet before your ARC discussion.
Source Title: The Changing Marketing Landscape
PART 1: Consider ideas from the text and answer the following questions
1. How does at least one of the ideas in the text connect to your modules at either USIC or a previous course you have studied?
• The marketing strategies used by Target and Walmart are studied in my business module
2. How does at least one idea of the text connect to a past or current news story or a historical event?
• The online marketing is booming nowadays, thus most of the companies transformed from a brick-and-mortar retailer into a click-andmortar retailer. Tesco is one of the examples.
• During the economy crisis, those companies who chose not to slash prices became stronger after the economy recovered. This related to how Tesco insisted on expanding its online services even though the Internet bubble burst.
3. How does at least one idea of the text remind you of a personal experience you have had?
- The digital age reminds me of my experience of online shopping. At the beginning, I did not want to purchase goods online because I thought it was fraudulent and risky. However, with the advent of more and more online retailers, I decided to give it try and my first online shopping was successful.
PART 2: Choose two meaningful connections from part 1 to share with your group.
In the table below provide full details of what the connection to the text is and why you think it is important for other group members to know about these connections.
N.B Remember these notes will help you explain your ideas more clearly to the group.
- The digital age has led companies to promote their products and services in a more effective and efficient way. Nowadays, in order not to be obsolete, most companies utilise the Internet to market their products and even transformed their companies into a click-and-mortar company. Tesco is a successful example of a click-and-mortar retailer. It offers home delivery services where customers could purchase their goods online and their products will be sent to their doorstep at their desired time. Furthermore, there is also a click-and-collect service provided by Tesco. Customers will still have to purchase their goods online but rather than waiting for their groceries to be delivered which might take days to receive, they could straight away go to one of their nearest Tesco stores to collect themselves. I think it is important to note that by integrating the physical stores with e-commerce, companies can benefit from sales booming and also make it easy and convenient for potential customers to shop because rather than visiting the store, they could straight away purchase it online and wait for their goods to be delivered.
- During the economy downturn, most companies chose to reduce prices and offer discounted items just to attract new and thrifty customers. However, companies such as McDonald's, General Mills and Hyundai chose to increase their marketing spending instead. This tactic had left them became stronger when the economy recovered. Similarly, when the dot-com bubble burst, most of the retailers faced a significant financial crisis. At that time, most of their warehouses were closed and decided to cease their online commerce. However, Tesco continued to expand its online services. Until today, Tesco has become one of the world's largest online grocery retailer. I think this event is important because it demonstrates how some of the successful companies grasped the opportunities at the right timing to expand their company. It also shows how well they managed to reverse the situation in times of crisis while many people chose to conform to the reality and gave up.
- A marketing strategy consists of market segmentation, target markets, positioning and marketing mix. Walmart and Target are retail stores that used pricing strategies to differentiate themselves from the others. They often offer a wide variety of goods below the market price to attract more new and potential customers. During economy downturn, customers are being more cautious on spending, thus most of the companies will experience fall in sales. Discount stores, on the other hand have to remind their customers about their low-price goods just like what Target did. Instead of focusing on their ‘Expect More' concept, they put more emphasis on ‘Pay Less' notion to attract customers. I think this connection is important because we can use these examples as a case studies in the exam.
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