1. Watch the video “The Worst Marketing Blunders of 2019” (2:32)
Research a brand that has experienced challenges in the business world over the last three years.
Analyze and explain which of the 4Ps was most impacted. (Note: do not use one of the brands from the video)
In hindsight, what could this brand have done to avoid the business challenge you identified?
How could you implement some of the same strategies the Girl Scouts used when marketing your product or service?
Read and respond to your classmate’s (Ruth) post below:
Hello Professor and Fellow Classes, I did my research on Wells Fargo bank. This particular brand has faced quite a few challenges in the past three years. Just to name a few the Federal Reserve froze all their growth to two billion while they looked into the claim of account fraud. This was not the only fraud case this brand has been dealing with. It also was accuse of situation involving their Zelle activities an in the same year 2022 of rejecting African American home owners application more than approving them.
Of the 4 P’s in marketing I willnsay price. Because of their unethical business practices this company lost potential customers as well as a loss in revenue. When you look at the lawsuits as well as all of the fines an sanctions that was enforced against Wells Fargo this financial institution took a loss.
In the discrimination situation if they had treated all the customers the same regardless of there skin color this issue would not have been created. As for with the Federal Reserve, if Wells Fargo didn’t misappropriate customer trust by foreclosing on homes , repossessing customers cars, slamming consumers with overdraft fees an other immoral actions then the Federal Reserve would not have initiated these actions against them. With regards with the Zelle , there biggest share holder Warren Buffett called them out on fraud an being evasive in there transaction with Zelle. All these issues could have been avoided by using good business practices.
Using the girl scout marketing strategy of being at the right place, having the right product an having your target customers will make your brand more desirable to consumers. Basically you need to know what your consumers want an need is the best strategy in marketing.