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business
contemporary marketing case

Questions and Answers of Contemporary Marketing Case

=+5. Identify and describe the different advertising media. Give an example of one type of product that could best be advertised in each.
=+4. What are the advantages and disadvantages of the types of emotional appeals in advertising?
=+3. What variables might marketers consider in creating an advertising message for a firm that offers financial services, including retirement accounts, credit cards, and other investments?
=+2. Describe each of the four major advertising strategies.
=+3. What are the advantages of cross-promotion?
=+What about newspapers?
=+2. What are some advantages radio offers to advertisers?
=+2. When sex is irrelevant to the good or service, relying on sexual marketing is counterproductive. It can confuse the message.
=+what is acceptable in our culture.
=+1. Explicit or provocative ads are demeaning to both men and women and help lower the standards of
=+Should marketers use sex to sell products?
=+2. It attracts attention, so it is a legitimate means to sell products. In short, it works.
=+1. There is so much sexuality elsewhere in the culture today that marketers have to keep pushing the barriers just to get noticed.
=+2. Fast-food chains may face renewed challenges to their menu offerings as health concerns about obesity and other ills increase, and as alternatives such as Panera Bread and Baja Fresh continue to
=+1. Do you think value pricing and dollar pricing are effective strategies for increasing market share in the fastfood market even if they reduce the profit stores can earn on each meal? Why or
=+c. You would like to rent a car in each of the following cities: Seattle; Charleston, South Carolina; and Cleveland. Visiting at least two car rental and travel Web sites, research car rental
=+How much variation did you find in rates for the same hotel?
=+b. Now, assume you want to stay in a hotel in a popular vacation area, such as Maui, Las Vegas, or Orlando.Visiting at least two hotel chains and travel Web sites, research hotel rates for varying
=+a. Assume you wish to fly round trip between the New York City area and Southern California. You are flexible in terms of day of travel, time of travel, and departure and arrival airports. Visit at
=+2. Yield management. Airlines, hotels, and rental car companies all practice yield management. Complete the following exercises. Relate your experience to the discussion of yield management found
=+c. Price discrimination. In the United States, hospitals and physicians often charge different patients different amounts depending on their insurance coverage. Using Google or another search
=+b. Price fixing. In most communities, all real estate agents charge sellers a 6 percent commission. Critics contend that this amounts to price fixing. Using a search engine such as Google, find
=+a. Dumping. Many trade disputes involve a practice called dumping. Visit http://www.wto.org/english/tratop_e/adp_e/adp_e.htm to learn more about dumping including several recent dumping cases.
=+1. Legal and ethical issues in pricing. As noted in the chapter, numerous legal and ethical issues result from pricing. Review each of the following and prepare summaries you can bring to class to
=+2. The bank also has a program in which customers can sign up to cover bounced checks through an automatic savings account transfer. That service is less costly to the account holder, but it
=+1. You know that the bank advertises its free checking account service widely in the local media. But the new fees are not advertised, and it bothers you. What course of action would you take?
=+4. Ajax Motor Company recently announced that it will rely less on high-volume strategies such as discounts and rebates to improve its profitability. Another strategy it will employ is to sell
=+3. One writer advises consumers not to worry about rising gasoline prices, the cost of which can easily be covered by forgoing one takeout meal a month, but to worry about how high energy prices
=+2. Musical artists earn only about 9 percent in royalties per CD, using a royalty base of retail price less 25 percent for packaging costs. The rest goes to the producer and to cover recording
=+1. Prices at amusement parks are expected to rise because operators such as Disney and Universal Studios are adding new rides and coping with the rising cost of fuel; they are also copying each
=+10. Some airline industry executives believe that lower, simpler fares for the major carriers will earn goodwill from customers and send a clear marketing message that they are ready to compete
=+Can you think of another plan that would be more profitable? Would it appeal to consumers?
=+9. How do cell phone companies make money by charging a flat rate per month for a set number of minutes, such as $35 for 300 minutes?
=+8. Public funding of national parks has been declining for many years. What would you expect to happen to entry and use fees in this case? Research fees at parks in your state or region to verify
=+7. Why is it more expensive to buy beer and a hot dog at a Major League Baseball game than it is to buy them at local retail stores?
=+6. Research the price schedule at your local movie theater multiplex. What pricing strategy accounts for any price differentials you discover? Why don’t matinee prices constitute price
=+c. Indicate the feasible price or prices if the $0.50 per-unit additional promotion proposal is not implemented but management insists on a $25,000 target return.
=+b. Cyber Novelties’ director of marketing also estimates that an additional $0.50 per-unit allocation for extra promotion will produce the following sales increases:60,000 units at an $8 unit
=+a. Which of the proposed selling prices would generate a profit for Cyber Novelties?
=+5. The marketing research staff at Cleveland-based Cyber Novelties has developed the following sales estimates for a proposed new item the firm plans to market through direct mail sales:PROPOSED
=+b. The firm’s CEO has suggested a target profit return of$214,000 for the proposed product. How many units must be sold to both break even and achieve this target return?
=+a. What is the breakeven point in units for the proposed product?
=+4. WebTech Development of Nashville, Tennessee, is considering the possible introduction of a new product proposed by its research and development staff. The firm’s marketing director estimates
=+3. How are the following prices determined and what do they have in common?a. ticket to a local museumb. your college tuitionc. local sales tax rated. printing of business cardse. lawn mowers
=+2. In pairs, discuss the market situations that exist for the following products. Defend your answers and present them to the class.a. DVD playersb. golf clubsc. soybeansd. remote control car
=+e. setting the highest prices in the product category to maintain favorable brand image
=+d. 25 percent return on investment (before taxes)
=+c. 5 percent increase in market share
=+b. prices no more than 6 percent higher than prices quoted by independent dealers
=+a. 5 percent increase in profits over the previous year
=+1. In small teams, categorize each of the following as a specific type of pricing objective. Suggest a company or product likely to use each pricing objective. Compare your findings.
=+9. Explain how the use of yield management can result in greater revenue than other pricing strategies.
=+8. Explain the advantage of modified breakeven analysis over the basic breakeven formula.
=+7. How can locating the breakeven point assist in price determination?
=+6. Explain the advantages and drawbacks of using incrementalcost pricing rather than full-cost pricing.
=+5. What are the practical problems in applying price theory concepts to actual pricing decisions?
=+4. Identify each factor influencing elasticity and give a specific example of how it affects the degree of elasticity in a good or service.
=+3. What are the major price implications of the PIMS studies?Suggest possible explanations for the relationships the PIMS studies reveal.
=+2. Give an example of each of the major categories of pricing objectives.
=+ Would your answer change if you were the owner of a small store?
=+1. Distinguish between fair-trade and unfair-trade laws. As a consumer, would you support either fair-trade or unfair-trade laws?
=+2. Explain the goal of yield management.
=+2. What adjustments to the basic breakeven calculation must be made to include target returns?
=+1. Give the formula for finding the breakeven point, in units and in dollars.
=+2. What is incremental-cost pricing?
=+1. What is full-cost pricing?
=+1. List the three reasons why it is difficult to put price theory into practice.
=+2. What is the usual relationship between elasticity and revenue?
=+1. What are the determinants of elasticity?
=+2. Ethanol dissolves in water, and current transportation and storage methods are not completely watertight. So new distribution systems would need to be built to handle ethanol. Also, corn is
=+1. Ethanol production uses considerable amounts of energy. Experts estimate that ethanol produces about 20 to 40 percent more energy than it uses. But transporting the fuel to markets outside its
=+2. Ethanol burns clean, reducing pollution. Federal government mandates to increase the amount of biofuels mixed into gasoline until the year 2012 encourage research and development in efficient
=+1. Ethanol is produced from a renewable resource:corn. Existing cars can run on a 10 percent ethanol mixture without any modifications. With minor engine modifications—some experts say about$100
=+Is ethanol a viable replacement for petroleum in the market, or are producers overpromising its benefits?
=+2. What are the two basic ways in which marketers determine prices?
=+1. What goals does pricing strategy help a not-for-profit organization achieve?
=+3. How do prestige objectives affect a seller’s pricing strategy?
=+2. What is value pricing?
=+1. What are target-return objectives?
=+7 Explain the use of yield management in pricing decisions.
=+6 List the chief advantages and shortcomings of using breakeven analysis in pricing decisions.
=+5 Explain the major cost-plus approaches to price setting.
=+4 List the practical problems involved in applying price theory concepts to actual pricing decisions.
=+3 Explain price elasticity and its determinants.
=+2 Identify the major categories of pricing objectives.
=+1 Outline the legal constraints on pricing.
=+What can you determine from this about the nature of The Second City’s promotional strategy?
=+4. What challenges does the Second City find when attempting a sponsorship arrangement?
=+ Does it change for different divisions?
=+3. Which advertising strategy do you think is most advantageous to The Second City?
=+ How does this relate to Second City’s stage in the product life cycle?
=+2. Do you think Second City allocates a relatively large amount of funds for promotion? Why or not why?
=+1. How does the nature of Second City’s product function as a promotional tool for the company?
=+What types of skills would you look for in a student interested in your field?
=+What can students do now to get a good start?
=+Q: Being so involved with media communications, you must have some great advice for students on developing contacts and relationships to get started in their marketing careers.
=+ How do you gauge the effectiveness of an individual media buy—or its part in a larger campaign?
=+Q: What objectives do your clients have in their media campaigns? Can you give us an example?
=+What relationship does your team have with the various media outlets to be able to offer expertise on media selections?
=+Q: Today’s media outlets are so numerous—network and cable TV, traditional and subscriber radio, print and online newspapers, magazines and e-zines, new interactive media, to name just a

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