Business Finance Homework Help

Consider what you learned in the experience and respond to the following in a minimum of 175 words:

• As a marketing manager, how does a focus on sustainability inform your tasks and activities?
• Pick a company or brand you are familiar with and share an example of how the company has incorporated sustainable practices. Why is it important to take a sustainable approach?
• What partnerships and collaborations might a company enter into in order to maintain effective sustainability practices?
• How might sustainability contribute to customer satisfaction?

As a marketing manager sustainability is very important. You want the company to not only blow up in the market but you would want it to stay around for a very long time. So as a market manager you want to your tasks and activities to make that possible. You will want to do the research into other companies as well to see what they have done and processes they have adopted in order to stay sustained. You also want to research and look at the things that didn’t work out for other companies that are not around anymore or not as sustained as other companies so that you know what to not do.

Successful collaborations evolve and attract new partners. Many collaborations start as informal partnerships. Often if successful, they evolve into formal entities. Regardless of the organizational structure, setting a clear governance model early in the collaboration, which outlines decision-making processes for both daily operations and strategic choices, helps achieve significant results quickly.

Every collaboration has numerous stakeholders with different motivations, agendas, and areas of influence. Mapping them is important to identify stakeholders who are interested in solving problems. Engaging these stakeholders, interested in finding solutions, helps the collaboration make progress, establish credibility, and find trusted partners to spread its story.

Jen

• As a marketing manager, how does a focus on sustainability inform your tasks and activities?

As a marketing manager, focusing on sustainability will provide a bird’s eye view on your tasks and activities that are needed to service environmentally conscious customers. Sustainability is a way to focus your company’s attention on customers who are environmentally conscious and cares where and how their money is used for the betterment of the environment and their community. Customer loyalty is one of the great benefits of sustainability. “Sustainability practices have helped socially responsible organizations incorporate doing well by doing good into their overarching business models so that both the success of the firm and the success of society at large are sustained over the long term.” (Williams, Johnston, Pg. 7)

• Pick a company or brand you are familiar with and share an example of how the company has incorporated sustainable practices. Why is it important to take a sustainable approach?

The company that I am familiar with is the Target Corporation. I was a Target team member a few years ago and I recall looking over their employee’s handbook and noticed how community and environmentally driven they were. One of their corporate responsibilities pertaining to sustainability were to “take a holistic view of sustainability, with efforts focused on our business driving positive impact for both people and planet. We see sustainability efforts as part of an interconnected system, where our actions to help address climate, restore natural systems, and drive opportunity and equity for our teams, communities and partners, impact and reinforce one another to create change that is good for all.” (Target Corporation, 2020) I believe it is important to take a sustainable approach because the company will be considered as an ethical and environmental conscious company and with everything that is happening in the today’s world about global warming, renewable energy and host of other environmental issues; it just makes sense to be ahead of the green marketing trend.

• What partnerships and collaborations might a company enter into in order to maintain effective sustainability practices?

In order to maintain effective sustainability practices, I would hope that the company might partner or collaborate with environmental companies and scientists that have the data and background information necessary to support their sustainability strategy. According to, Target Corporation’s website, “(1) By 2025, Target intends to reduce annual total virgin plastic in our owned brand packaging by 20%, (2) initial milestone: By 2025, Target intends to have 100% of our owned brand plastic packaging be recyclable, compostable or reusable and (3) foundations we’ve laid: Signatories to the New Plastics Economy Global Commitment and the U.S. Plastics Pact.”

• How might sustainability contribute to customer satisfaction?

Sustainability can contribute to customer satisfaction by showing the customer how ethically and environmentally conscious they are and how they value their customer’s loyalty to their brand. Also, “a firm’s value proposition must be strong enough to move customers past mere satisfaction and into a commitment to a company and its products and brands for the long run.” (Williams, Johnston, 56) Therefore, if a company wants to maintain their customer’s loyalty for the long run then one must adapt to the societal and environmental trends to ensure their company aligns with what the customers wants.