You are preparing to introduce a new product on the market

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Reference no: EM13388199

You are preparing to introduce a new product on the market during a time when everyone is nervous about the economic future of the country and health care expenses. Because of the economic skittishness, people are unlikely to try a new product. Thus, you need to figure out how to create demand with the public and woo the leaders in the sports medicine field to give your new product a try. You have a request for a $30,000 increase in your budget to the CEO to meet the need. Accounting is also being very conservative and doesn't want to raise your budget until they feel more secure about the projected sales.

One of the investors in your company has a ranch in Idaho. This investor has offered to let you use the ranch, all expenses paid, and bring some of the potential customers and purchasing agents to the ranch for a skiing vacation and the chance to learn about your new product. While the weekend will be billed as a "thank-you for our valued customers", you hope that you can generate enough good will to get more sales. This offer would be the equivalent of a $30,000 infusion into your marketing budget.

1. Motive

Choose three options to analyze. You will analyze multiple options to help ensure that you choose a reasonable option to implement.

After brainstorming with the leadership team, you have identified five options:

1.Accept the $30,000 valued weekend. Invite your potential clients to the “skiing” weekend and send informational material about the products you are going to pitch with the confirmation of the weekend.

2.Accept the $30,000 valued weekend. Invite your potential clients to the “skiing” weekend and pitch the product when they get there.

3.Reject the notion of an educational weekend and continue traditional sources of marketing.

4.Have the company pay for the weekend at your investor's ranch. Invite your potential clients to the “skiing” weekend and send informational material about the products you are going to pitch with the confirmation of the weekend.

5.Reject the notion of an educational weekend and hold a trade meeting at a hotel with traditional sources of marketing.

1. In this step, identify your reason for acting -- your motive. Explain your reason for implementing these options.

Universalizability

2. Now consider whether everyone could adopt this reason for acting without our social structure falling apart. This step invites us to think about universal principles that cross all cultures and communities.

Reversibility

3. Next -- think about whether you would be willing to have someone use the reasons you just wrote for how they were going to treat you. Explain why you would be willing to accept these reasons.

Prior Agreements

4. Next, consider whether you are treating the stakeholders the way they have agreed to be treated List your stakeholders and your agreements and explain why you believe that through these options you are treating them fairly.

General Expectations

5. Finally, consider whether these options meet the general expectations in the community. Explain specifically how these options show that you are being responsible.

Reference no: EM13388199

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