Question 1: Chapter 3 discusses the environmental forces that affect the success of a product. Select a product. Tell me the name of the product – be specific by using a brand name and specific attributes of product. See example below. Describe how the product’s success can be impacted by at least four of these environmental forces (competitive, economic, political forces, legal and regulatory, technological, and socio-cultural). Be specific, I have given an example below:
Ex: Arrid Extra Dry Clear Gel:
Legal and regulatory forces can impact the success of the product if the FDA determines to ban antiperspirants containing aluminum because they may lead to the growth of breast cancer cells.
Competitive forces can impact the product’s success because a competitor product like Tom’s deodorant may successfully campaign that natural deodorant is more safe than commercial products containing potentially harmful ingredients.
Technology may impact the product’s success if a new technology emerges that changes the way people prevent body odor; for example Botox has been proven to stop the body from perspiring where the injections occur.
Socio-cultural forces, like consumerism can promote that people should not wear deodorant at all for safety issues.
Question 2: In chapter 4, you will learn about the three main social responsibility issues; including sustainability, consumerism, and community relations. Which do you feel should be the most important for businesses to address? Explain why you feel this way. Give an example of a company you think does a good job addressing this issue or a company you feel does poorly addressing this. Explain.
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