Monday, September 9, 2019

Read the case, and answer the question Case Study

Read the , and answer the question - Case Study Example The good point showcasing about being socially responsible in the given case is the idea that Vermont Teddy Bear was trying to consider their customers as partners, which is tantamount to the the actual formation of relationship with its customers. In doing so, they only are not going to earn long-standing trust, but above all, the ability on the part of the customers to distinguish the kind of service they provide. Vermont Teddy Bear therefore knew the key to a long-lasting penetration and operation in the market and that is to create a meaningful relationship with their customers, an act that one could potentially consider as socially responsible. Here is another important point how Vermont Teddy Bear has become socially responsible. It was able to support charitable causes (LHMVTB Case). Supporting charitable causes is an indication that the company is trying to involve and consider itself as integral part of the community. It does not stand alone by itself, but has considerable o bligations for the people and the community as a whole. In addition, Vermont Teddy Bear strongly adhered to understanding customers’ needs. Criticism concerning its insensitivity was not directly coming from the customers, but from a national agency trying to be closely critical about its products. Vermont Teddy Bear has remarkable point not to listen to this criticism because for them there was a positive approval and response from the customers concerning their product offerings (LHMVTB Case). It is clear that through this incident, Vermont Teddy Bear must be a customer-centric organization that would be willing to understand customers’ needs and create decisions based on these requirements. The case therefore has remarkably shown the level of Vermont Teddy Bear’s socially receptive response by highlighting their ability to directly listen to the customers’ needs and build their critical decision on these patterns. 2. Discuss the external environmental factors that impact VTB overall. Additionally, discuss the external environmental factors that impacted this particular situation/controversy. Explain specifically how the external environmental factor(s) impacts VTB overall and this particular situation. In general, Vermont Teddy Bear’s actual business growth were influenced by seasons of the year and technological advancement associated with sharing marketing information such as the presence of internet and other relevant media (LHMVTB Case). In fact, the remarkable controversy against Vermont Teddy Bear occurred in February which is the month of the year noted for the celebration of Valentines day. Moreover, the ability of the company to generate sales and income was due to the easy implementation of direct marketing via phone calls and its website. In other words, social activities and advancement of communication technology have evidently paved a way for Vermont Teddy Bear to spread its influence to its market industry. However, the socio-political response could have a significant impact on Vermont Teddy Bear as its criticism against the company’s product offerings could create a negative marketing advantage over the actual product involved in the controversy. The national agency was reacting badly against the very controversial one product of Vermont Teddy Bear which is an indication that there is a great deal of issue that needs settlement on the part of the company. In addition, this issue or controversy could also be a damaging factor

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