1. As a junior member of your company’s committee to explore new markets, you have received a memo from the chairperson telling you to be prepared at the next meeting to discuss key questions that need to be addressed if the company decides to look further into the possibility of marketing to the BOP segment. The ultimate goal of this meeting will be to establish a set of general guidelines to use in developing a market strategy for any one of the company’s products to be marketed to the “aspirational poor.” These guidelines need not be company or product specific at this time. In fact, think of the final guideline as a checklist—a series of questions that a company could use as a start in evaluating the potential of a specific BOP market segment for one of its products. (500 words)
2. Marketing to the BOP raises a number of issues revolving around the social responsibility of marketing efforts. Write a position paper either pro or con on one of the following:
Is it exploitation for a company to profit from selling soaps, shampoo, personal computers, and ice cream, and so on, to people with little disposable income? If no, in what ways a consumer product could be adapted? Give at least 2 specific examples.
Can making loans to customers whose income is less than $100 monthly at interest rates of 20 percent to purchase TVs, cell phones, and other consumer durables be justified?
One authority argues that squeezing profits from people with little disposable income—and often not enough to eat—is not capitalist exploitation but rather that it stimulates economic growth.
Provide citations and at least 5 references.
2. Mary Kay in India
1. A positioning statement briefly identifies the target market and needs to be satisfied, the category in which the product competes, and the unique attributes or benefits provided. What is Mary Kay’s positioning in the Home country-US? What information should be included in a written positioning statement for Mary Kay in India? Compare and Contrast the two statements.
2. Is Mary Kay a global brand? Why or why not? The marketer has at least three viable alternatives when entering a new market: (1) sell the same product presently sold in the home market (Domestic Market Extension Strategy); (2) adapt existing products to the tastes and specific needs of each new country market (Multi‑Domestic Market Strategy), or (3) develop a standardized product for all markets (Global Market Strategy.) What global marketing strategy does Mary Kay involved in?
4. What advice would you have for the management of Mary Kay in India going forward? Research and analyze current consumer culture and socio-economic situation in India. based on your findings recommend areas for Mary Kay product adaptation. Support your answer with specific research data.
Answer & Explanation
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