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marketing event write up

    Daily events in the business world relate directly to the concepts of marketing strategy. To encourage reading and integrating concepts from the business, students may elect to submit a summary of a news article on a current marketing event.

    The 1 page (single-spaced) submission should consist of a short summary that provides a link to the article, with minimum 3 paragraphs, describing:
    1) the event it covers
    2) interpretation of the event in relation to concepts in the course
    3) summarizes what makes the situation interesting.

    class concept sample (CHOOSE ONE)

    – porter five forces analysis
    – SERVQUAL model (RATER)
    – PESTEL analysis
    – blue / red oceans strategy
    – laddering approach – kano model

    18 pro 0 em contmues the Haupt Consulting situation from Problem 2-64 of
    Chapter 2. Start from the trial balance and the posted T-accounts that Haupt
    Consulting prepared at December 18, as follows:
    HAUPT CONSULTING
    Trial Balance
    December 18, 2010
    l-l
    l-l-lml_l
    Cash $ 8,100
    Accounts receivable 1,700
    Supplies 300
    Equipment 2,000
    Accumulated depreciation-equipment
    Furniture 3,600
    Accumulated depreciation-furniture
    Accounts payable $ 3,900
    Salary payable
    Unearned service revenue
    Carl Haupt, Capital 10,000
    Carl Haupt, Withdrawals
    Service revenue 2,500
    Rent expense 500
    Utilities expense 200
    Salary expense
    Depreciation expense-equipment
    Depreciation expense-furniture
    Supplies expense
    Total $16,400 $16,400
    Later in December, the business completed these transactions, as follows:
    Dec 21 Received $900 in advance for client service to be performed evenly over
    the next 30 days.
    21 Hired a secretary to be paid $1,500 on the 2oth day of each month. The
    secretary begins work immediately.
    26 Paid $300 on account.

    Student Name: ________________
    Summary
    The United States is very concerned about our reliance on importing oil from other countries.
    President Obama believes that by placing new standards on trucks, we can drive down these
    importing costs due to better efficiency. Overall this should help the climate, businesses, and
    end consumers, which Obama states as a ?win-win-win?. Muller emphasizes that this may not
    be the case since it may the vehicles will be very expensive to purchase initially. The people
    that will be hurt in the short-term will be the truck drivers, whom have had to consistently
    follow new regulations thrown at them year after year. These additions continuously drive up
    the prices for new trucks, and make it more difficult for the truck owners to make the
    purchase. Another factor to consider is that the technology for making these vehicles more
    fuel-efficient hasn?t been produced yet. The key takeaway from this article is that these
    advancements may need to be set over a longer time frame so the truck owners can afford
    such a purchase, and technology can keep up with these new standards.
    Relation to Class Concepts
    This event relates directly to concepts we?ve learned in class, because we can use many types
    of analyses mentioned in class to better understand the situation. One concept would be an
    external analysis method, such as PESTEL. The political factors in relation to the article
    would be Obama?s push for more regulations, and OOIDA?s stance that it will have negative
    consequences in the trucking industry. Next is the economic factor in the scenario. This would
    include oil prices, and the very low number of truck drivers in the industry today. For the
    socio- cultural aspect, the trend today is to try to be sustainable in business practices. Then
    there are technological factors to consider as well. Many new technologies such as Electric
    On-board Recorders (EOBRs) and GPS systems are placed inside large semi-trucks today
    which can help drive down fuel costs. The technologies mentioned in the article that Obama
    wants to administer to help with fuel efficiency are not yet in production. Next, the ecological
    factor is also important to consider. The United States should try to minimize their carbon
    footprint to help the environment. Obama?s new standards would help lower carbon emissions.
    Finally, the legal factor to consider is that there have already been regulations set by the
    government every year for the past ten years. PESTEL is a useful analysis tool for
    understanding the external factors that come into play, and how they can affect an industry
    such as trucking.
    Reasons for Interest
    This article was of interest to me, because I am a Supply Chain Management major
    concentrating in logistics. The transportation industry has many obstacles to overcome, such
    as the lack of people interested in truck driving. Placing more and more regulations on truck
    drivers/owners may only increase our shortage of drivers, which will devastate the industry.
    But, we also need to be aware of the benefits that can be gained by such a proposal. We can,
    in the long-run, save on fuel costs of transportation and rely less on oil imports. Also we will
    have more eco-friendly trucks on the roads which are more sustainable. These new
    advancements in technology and stricter regulations are very important in any industry, and
    are important to consider when dealing with challenges in the business world.
    Works cited
    Muller, J. 2014. ?More Efficient Trucks Will Save Fuel — But Only If Drivers Can Afford
    Them,? (http://www.forbes.com/sites/joannmuller/2014/02/19/more-efficient-trucks-will-savefuel-but-only-if-drivers-can-afford-them/)