Questions and Answers of Foundations of Marketing

Which demographic variables does MBSC use in segmenting the market for its services? Be specific.
Select and justify the segmentation variables that are most appropriate for segmenting the market for your product. If your product is a consumer product, use Figure 5.3 for ideas regarding the most
Under what conditions might a firm use multiple forecasting methods?
Under what conditions are market tests useful for sales forecasting? What are the advantages and disadvantages of market tests?
What are the two primary types of surveys a company might use to forecast sales? Why would a company use an outside expert forecasting survey?
Define geodemographic segmentation. Identify several types of firms that might employ this type of market segmentation, and explain why.
How has the marketing research process been used to understand how Baby Boomers shop and interact in stores?
Why are Baby Boomers such a lucrative market?
What role do ethics play in marketing research? Why is it important that marketing researchers be ethical?
If a survey of all homes with listed telephone numbers is to be conducted, what sampling design should be used?
How does TOMS manage its supply chain in order to ensure ethical and socially responsible conduct?
Discuss how your product could be affected by changes in social attitudes, demographic characteristics, or lifestyles.
Referring to Tables 3.2 and 3.3, do you recognize any laws or regulatory agencies that would have jurisdiction over your type of product?
Using the business cycle pattern, in which of the four stages is the current state of the economy? Can you identify any changes in consumer buying power that would affect the sale and use of your
Helena Fogarty talks about being ready to adjust her marketing plan every day. Should she focus more on possible adjustments to strategy, objectives, implementation, or some combination of these
Does Mi Ola have a first-mover or late-mover advantage? Explain your answer.
How would you describe Mi Ola’s strengths, weaknesses, opportunities, and threats?
How can marketers use big data and marketing analytics to improve marketing strategies?
Define a database. What is its purpose, and what does it include?
Discuss how the marketing concept contributes to a company’s long-term success.
Can you identify the core competencies of your company? Do they currently contribute to a competitive advantage? If not, what changes could your company make to establish a competitive advantage?
Identify and explain the major components of a marketing plan.
When assessing actual performance of a marketing strategy, should a marketer perform marketing cost analysis? Why or why not?
Which element of the strategic planning process plays a major role in the establishment of performance standards? Explain.
Identify and explain the major managerial actions that are a part of managing the implementation of marketing strategies.
When considering the strategic planning process, what factors influence the development of a marketing strategy?
Explain how an organization can create a competitive advantage at the corporate strategy level and at the business-unit strategy level.
How does New Belgium’s focus on sustainability as a core value contribute to its corporate culture and success?
What has Kim Jordan done to create success at New Belgium?
How has New Belgium implemented the marketing concept?
What benefits will your product provide to the customer? How will these benefits play a role in determining the customer value of your product?
Describe the level of market orientation that currently exists in your company. How will a market orientation contribute to the success of you new product?

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