Discuss what it means to become market driven? Why should a company become market driven? What are the advantages to a firm?
In 250 words: APA Format with 1 Citation. Use the article attached to briefly comment for #2.
Discuss what it means to become market driven? Why should a company become market driven? What are the advantages to a firm? As you build your discussion threads, incorporate insights from all your readings and videos for the week.
Briefly comment on one of the WSJ news articles provided for the week. Connect your observations with the concepts you are learning. Address all three content areas: theory, practical application, and scriptural application.
Article attached is Starbucks.
- Week 1 DQ 1 Response to Adolfo
Read: The restaurant industry is one of the most temperamental industries with fluctuations being caused by many factors (Kell, 2016). The battle between Panera and McDonald’s is really not a battle at all. The companies have two different client bases and establishment helps McDonald’s in the long run with McDonald’s having annual sales 10x greater than Panera (Kell, 2017). Eating habits have definitely changed as generations are getting older. Over the course of the last 40 years, from when Boomers were kids/teens to now, our eating habits have changed drastically (Kurtzleben, 2015). This study shows how we have removed a lot of processed foods from our diets and transitioned to fresh(er) foods. Along with this transition, comes a transition from traditional high fat/oil fast food restaurants (McDonald’s), to more natural or fresh restaurants (Panera).
Answer (200 words) : What can companies like McDonald’s do to increase their traffic and market share again in light of how our eating habits are changing?
- Week 1 Response to Shelia
Read: Everyone knows what it is to be driven. Some are driven by money, some by fame, and the list goes on. Companies are also driven by the market. A company is driven and their success is determined by who or what they want to market to. Market driven is “a superior ability to understand, attract, and keep valuable customers” (Day, 2007, p. 5). For example, McDonalds wants to attract families with children. Therefore, they have playgrounds in many of their building. I looked at the article titled “Boomer Influx Shakes Up Restaurant Industry” by Julie Jargon. I would like to start this post by saying 50, or even 60, is not old (lol). However, I must say that a menu that includes “Napa almond chicken salad sandwich, a roasted turkey Fuji apple salad and cream of chicken and wild rice soup” (Jargon, 2012) does sound better than cold French fries. The first menu is from Panera Bread and it is market driven. The market that Panera is targeting is the ‘aging baby boomers’. All successful companies spend much of their marketing time and money to attract the audience that they are targeting.
Answer (200 Words) What company do you think would be more successful if they targeted a difference audience?
- Week 1 SLD
Watch: https://youtu.be/GMY9AEQRsfk
Read: In the Bible, read about the city of Tyre (Ezekiel 27). Tyre is judged and eventually destroyed, and the prophecy of Ezekiel is thought to have been fulfilled by Alexander the Great. Tyre was a very wealthy trading city.
Answer 250 words: What do you think contributed to Tyre’s wealth? What were its comparative advantages?
- Week 1 SLD Response to Michelle
Read: The Lament over Tyre in Ezekiel 27, describes a city that full of wealth, beauty, and perfection that is destroyed causing pain and sorrow to many. I would say the geographical location contributed to much of the wealth of Tyre. We read in Scripture it was located by the sea and traded with many cities in the Mediterranean. The products were great in nature with tall trees, precious metals, and stones from the earth, all of which are created by God. This made the city desirable to others who brought knowledge and contributed to trade. The craftsmen and laborers were skilled and contributed to trade and distribution. Distribution of goods was easier due to the access of the waterways and the desires of other cities who wanted to trade with Tyre. This all led to a great marketplace with desirable goods which created a city of stature and wealth. The location, market, labor, and distribution all contributed to the comparative advantages of Tyre. Others desired to live, trade, and buy from the city because of the all the fine products. This made the cities market very competitive. The comparative advantages would be the products made by the natural resources provided by God from the land, trees, and sea. Ezekiel 28 details the prophecy of why Tyre was destroyed, “you were blameless in your ways from the day you were created till wickedness was found in you. Through your widespread trade you were filled with violence, and you sinned” (Ezekiel 28:15-16 New International Version).
Answer 200 Words: The wealth and power in this case led idolizing money and greed. In your personal and professional life, how do you avoid letting money be too much of a focus?
- Week 1 Response to Shelia
Read: Michelle,
Great post! You asked “The wealth and power in this case led idolizing money and greed. In your personal and professional life, how do you avoid letting money be too much of a focus?” I jokingly answer your question that this is not something that I need to worry about because I do not have enough money for it to be my focus. However, there is a little bit of truth in my answer as God gives His children what He can trust them with. “God gives His children what He can trust them with” (Hetzel, 2017). In fact God is in charge! Psalms 75: 6-7 (KJV) “6 For promotion cometh neither from the east, nor from the west, nor from the south. 7 But God is the judge: he putteth down one, and setteth up another.”
Answer in 200 words. What are your thoughts about this scripture?
