Tyson’s Marketing Move Essay Example for Free

Tyson’s Marketing Move Essay An article in the Australian (31 January 2007) entitled â€Å"Ethanol boom fuels food prices: Tyson† talks about the Tyson’s view on boosting ethanol production. Tyson, the leading producer of meat and poultry products calls the attention of the US government as to the increasing cost of corn feeds due to booming production of ethanol. This article illustrates how an issue can affect the marketing activities of companies. The marketing plans of a company are affected by a dynamic marketing environment.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   The marketing environment of a company is composed of several forces. This includes competitive, economic, political, legal and regulatory, technological and socio-cultural forces (Pride Ferrell, 2006, p.8). These forces affect both the customers and the marketing mix of the company. Marketing mix is referred to as elements of marketing that will satisfy the customers. These elements are product, distribution, price and promotion. Product refers to a good, a service or an idea. Distribution deals with making the product conveniently available to the customers. The price variable relates to decisions and actions that will lead to determining product prices. Promotion refers to activities of the company that will inform customers about the organization and its products(Pride Ferrell, 2006, pp.6-7). A marketer mixes these elements and determines the right combination that will result to what customers would need and want. The Tyson-Ethanol article shows how the company used the booming ethanol issue as a marketing tool. The company president and chief executive gave the company’s stand on the food-vs-fuel debate by recognizing the effect of ethanol produced from corn crops to the global prices of food. By doing so, it is somehow promoting that Tyson wants its products to be affordable to the customers but because of this issue, prices may increase. This illustrates how economic and technological forces of the marketing environment can affect the element of pricing and promotion in the marketing mix.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   According to Pride and Ferrell (2006) the effect of the forces of the marketing environment on both the company and the customer can be dramatic and unpredictable. It can either be a problem for the marketers or a great opportunity to generate new products or new ways of getting the customer’s attention. Companies who are alert to changes in the marketing environment can capitalize on these issues. Marketers can readily adapt to these changes and use them as opportunities that will be beneficial to the company. As Borden (1984, p.9) said â€Å"the skillful marketer is one who is a perceptive and practical psychologist and sociologist, who has keen insight into individual and group behavior, who can foresee changes in behavior that develop in a dynamic world, who has creative ability for building well-knot programs because he has the capacity to visualize the probable response of consumers, trade and competitors to his moves.† The marketing team of Tyson, through this article, shows that they are aware of an issue that they foresee would affect their business. That then shows how they adapt and plan accordingly their next move. References: BORDEN, N H. 1984. The Concept of Marketing Mix. Journal of Advertising Research, vol. 2, p. 9. CAMERON, D. Ethanol boom fuels food prices: Tyson. 2007. The Australian, 31 January. PRIDE, W M, and O C. FERRELL. 2006. Foundations of Marketing. Boston: Houghton Mifflin College Division