Questions and Answers of Foundations of Marketing

Jordan directs her salespeople to increase the company's share of wallet. Jordan is directing her salespeople to a. Focus on increasing sales to their best customers. b. Focus on male
1. In which channels is Macy’s attempting to appeal to consumers? 2. What is Macy’s plan to attract Millennials?3. Using the factors for choosing retail partners outlined in the chapter, do
__________ reduce costs and maintain low prices by buying opportunistically from manufacturers with excess inventory, offering limited assortments of household goods and groceries, as well as health
Why might a big company like Lenovo want to develop strategic partnerships with locally owned computer stores? Describe what Lenovo would have to do to maintain such relationships.
A just-in-time (JIT) inventory system appears to be an important success factor for retailers like H&M and Forever 21. Choose a local retailer and examine the advantages and disadvantages of its
When supply chain members that buy and sell to one another are not in agreement about their goals, _____ channel conflict can occur. a. Verticalb. Independentc. Competitived. Horizontale.
All of the following are examples of the value provided by a supply chain in the production of kitchen stoves excepta. The transportation company gets the stove to the retailer. b. The retailer
When using a market penetration strategy, as sales continue to grow, the costs continue to drop, allowing even further reductions in the price. This is due to a. Markdowns.b. Price lining.c.
Visit the website for Bag, Borrow, or Steal (www.bagborroworsteal.com) and select handbags. Click on the “Handbags,” then choose “Gucci,” in the Designer category on the left column, and then
1. Which pricing tactics does each company utilize? Evaluate the effectiveness of each one of these tactics for the particular pizza chain.2. How might the current price wars change the pricing
A(n) _____ strategy is attractive because it attracts two distinct market segments: customers who are not price-sensitive customers and customers who are price sensitive. a. Cost-based pricingb.
Go to www.coupons.com. In which product categories does this website offer coupons? Choose a product from each category.How effective are coupons for selling these types of products? Why?Do any
A soft drink manufacturer opened a new manufacturing plant in the Midwest. The total fixed costs are $100 million. It plans to sell the drinks to retailers for $6.00 for a package of 10 12-ounce
The most common form of competition is _____ where many firms compete for customers in a given market but with differentiated products.a. Oligopolistic competitionb. Market saturationc. Pure
_____ orientation explicitly invokes the concept of value such as when a firm uses a "no-haggle" pricing structure to make the purchase process simpler and easier.a. Profit b. Salesc.
What mobile apps do you use that help facilitate your transactions with a specific retailer or service provider? Would you rather use the apps or engage in a face-to-face relationship with a person?
You have conducted a zone of tolerance analysis for your local pizza place. You find that the lengths of the reliability and responsiveness boxes are much greater than those of the other three
The Gaps Model is designed as a diagnostic tool to highlight specific areas wherea. Marketers deliver better quality service compared to the physical goods they sell. b. Manufacturers are
1. How can Uber and Lyft apply the Service Gaps Model to identify potential service failures? Using the building blocks of service quality, how can Uber and Lyft ensure high service quality?2. If
Which of the following represents the most fundamental difference between a product and a service? a. Heterogeneityb. Tangibilityc. Perish-ability d. Serviceability e.
Those companies from which you purchase products and services are not pure sellers of services, nor are they pure sellers of products. What services does Home Depot provide? What goods does a health
What services does Zipcar (www.zipcar.com) offer? Go to Zipcar’s website and click on “for everybody.” Evaluate how quick it is to reserve a car in a major city or at a university that has a
Although they enjoy novelty and are considered to be opinion leaders, _____ are not the first to purchase new product innovations. a. laggardsb. Innovatorsc. Early adoptersd. The late majoritye.
1. What kind of testing did Google perform for Google Glass? What other methods might it have used?2. What can later entrants into the wearable technology market learn from Google’s new product
In the United States, most consumer packaged goods found in grocery and discount stores are already in the _____ stage, which is characterized by the adoption of the product by the late majority and
Brand equity is determined by four aspects of a brand. Which of the following is not one of the four aspects? a. Brand awarenessb. Perceived value c. Brand associationsd. Brand qualitye.
Visit the company website (https://www.birkenstockusa.com/) and identify and describe the different product lines that it markets.
As the size of retail firms has increased through growth and consolidation, more retailers have developed _____ merchandise, which they use to establish a distinctive identity. a. Genericb.
L.L.Bean has a 100% satisfaction guaranteed policy on all of its products. What features of a pair of pants from L.L.Bean would be part of the actual product and which would be part of the associated
A sunglasses retailer is trying to determine if there is a significant market for its merchandise in a specific mall location where it is considering opening a store. It has an active Facebook page
The key difference between scanner and panel research is that scanner research typically focuses on a particular _____, while panel research typically focuses on a particular _____. a.
1. What kinds of market research has the Y conducted?2. Which questions has the Y sought to answer with each different type of market research it has conducted?3. Who are the main stakeholders that
Which of the following is not a disadvantage of using secondary research data?a. The information may not be timely.b. The process is costly and time-consuming.c. The data sources may be biased.d. The
You have been hired recently by a large bank in its credit card marketing division. The bank has relationships with a large number of colleges and prints a wide variety of credit cards featuring
Think about the various soft drinks that you know (e.g., Coca-Cola, Pepsi, 7-Up, Gatorade, Powerade). How do those various brands position themselves in the market?
Which step in the STP process develops descriptions of the different segments, which in turn helps firms better understand the customer profiles in each segment? a. Establish overall strategy or
You have been asked to identify various segments in the market and then a potential targeting strategy. Describe the segments for a pet supply store, and then justify the best targeting strategy to
1. What are the main ways Mercedes-Benz segments its customers? Are there any other methods in this chapter that it might use? 2. How can Mercedes-Benz position itself effectively to appeal to
For the ______ criteria to be met when evaluating segment attractiveness, the consumer must know the product or service exists, understand what it can do for him or her, and recognize how to buy
Go to http://www.esri.com/library/fliers/pdfs/tapestry_segmentation.pdf, and identify five segments that you would expect to find in your zip code. Then go to
Choose a firm that currently manufactures and sells its products or services only in the United States. Choose and defend a global entry strategy for the firm.
Why should marketers be aware of the BRIC countries?a. They are a microcosm of the rest of the world.b. They represent almost half the world's population.c. They are likely to be the source of most
Moots is a high-end bicycle manufacturer located in Steamboat Springs, Colorado. Assume the company is considering entering the Brazilian, Chinese, and Indian markets. When conducting its market
Explain McDonald’s global marketing strategy. Compare McDonald’s strategy in the U.S. (http://www.mcdonalds.com/us/en/home.html) to McDonald’s strategy in India (http://www.mcdonaldsindia.com/).
The shift of population from rural to urban areas in countries such as India helps global marketers by:a. Decreasing pollution.b. Simplifying the supply chain needed to make goods and services
In a _____ situation, the buying center is likely to proceed through all six steps in the buying process and involve many people in the buying decision.a. Straight rebuyb. Standard rebuyc. Modified
What are the major differences between the consumer buying process discussed in Chapter 6 and the B2B buying process discussed in this chapter? Use buying iPads for personal use versus buying mora
1. Imagine a small business that has long bought its office supplies from Staples. It reads about Lendio and considers whether to solicit a loan. What kind of buying situation has this small business
Which of the following statements regarding the B2B buying process is true? a. The B2B buying process is identical to the B2C buying process.b. The B2B buying process is less complex than the
Because not all purchase intentions result in an actual purchase, marketers calculate the _____ to measure how effectively a decision to purchase a specific product results in a completed
The salient or important attributes about a particular product that consumers use to make product evaluations are calleda. Attribute setb. Effective componentsc. Evaluative criteriad. Psychological
Several social trends were discussed in the chapter. For each of these trends, choose a retailer or service provider that you believe has seized the moment by grasping the importance of the trend and
One of the goals of value-based marketing isa. To provide the greatest value for the least profit.b. To sell products for the highest possible price.c. To offer greater value than competitors
ABC Company knew that its customers were interested in environmentally friendly business practices, so it began marking all of its products as environmentally friendly because they were made with
Choose a company that you believe is particularly adept at conscious marketing that is not discussed in this chapter. How do you justify your choice? What counterarguments might someone make to
A company that makes vitamin-infused drinks and other “healthy” snacks has the following mission statement: “Our goal is to profitably sell good-tasting, healthy products and to better
A firm makes generous donations to charities, but its employees are always being scrutinized for engaging in questionable sales practices. This firm would be considered:(a) Ethical but socially
As noted in your text, which of the following ranks as the top unethical behavior by employees as reported by chief marketing officers? (a) Misrepresenting company earnings. (b) Withholding
Distinguish among conscious marketing, CSR, and marketing ethics.
As an intern for Starbucks, you have been asked to develop a social media campaign for a new latte. The objective of the campaign is to increase awareness and trial of this new line. Use the
If you were marketing a new running shoe, what sort of mobile applications might enhance your marketing efforts?
Learn about Coca-Cola’s “#shareacoke” social media campaign on YouTube (https://www.youtube.com/watch?v=5l0cCyElfgg). Which of the 4E components does this campaign leverage?
To get customers excited about a social media–related offer, the offer must be: a. Innovative and substantial. b. Timely and aimed at a broad-based audience.c. Relevant and aimed at a
Using the components of the 4E framework, outline how an entrepreneur marketing low-sugar candy might apply it to their marketing mix efforts.
Go to Hubspot.com and check out its top case studies. How do these case studies provide insights into how listening and analytics can help firms improve their social media marketing?
Through its Facebook page, a major restaurant chain is offering its customers a Groupon coupon for 50 percent off the purchase of a meal. In doing so, the restaurant is focusing on which aspect of
Examine Under Armour's social media strategy using the 4E framework.
Dyson successfully sells its fans and heaters for $150 to $400, whereas most conventional fans sell for around $25. Explain what is the value it creates and how this affects the price it can charge.
How does Coca-Cola segment its market? Describe the primary target markets for Coca-Cola. How does it position its various offerings so that it appeals to these different target markets?
Which of the following is a marketing metric that might be used to evaluate the performance of a company's implementation of its marketing plan? a. Four Ps (price, product, promotion, place)b.
1. Perform a SWOT analysis for Starbucks and Dunkin’ Donuts. Based on your analysis, in which company would you invest? Justify your answer.2. Which growth strategies have been pursued by Starbucks
After a firm has conducted a SWOT analysis, it would typically progress to the next step of marketing planning, which is _______ and involves using STP (segmentation, targeting, and
How have PepsiCo and Coca-Cola created sustainable competitive advantages for themselves?
The mission statement for The Estee Lauder Companies is “'Bringing the best to everyone we touch'. By 'The best', we mean the best products, the best people and the best ideas. These three pillars
Why do marketers like Apple find it important to embrace societal needs and ethical business practices? Provide an example of a societal need or ethical business practice that Apple is addressing.
The _____ consists of the product, price, place, and promotion of an offeringa. Marketing exchange b. Marketing mixc. Channel of distribution d. Value proposition e. Marketing plan
Go to Facebook.com and click on “About” at the bottom of the page and then click on the About tab. What is Facebook’s mission? How could a marketer use Facebook, and what other social media
1. Choose one of the supply chain members of the chocolate market described in this case study and detail how it adds value through its marketing efforts.2. Describe the market for chocolates in the
Which of the following illustrates marketing’s direct impact on consumers?a. Marketing advises production about how much product to manufacture.b. Marketing creates long-lasting relationships
Visit Godiva (www.godiva.com) and Hershey’s (www.hersheys.com). What value do these chocolatiers provide customers? How is the value proposition different?
Review the key products and services that have emerged during the digital revolution. What are some new products and services that are not mentioned in the chapter?
Compare and contrast the typical channel structures for consumer products and industrial products.
Identify some of the ways the global companies discussed in this text demonstrate their commitment to CSR.
In the automobile industry, how does “lean production” differ from the traditional assembly-line approach?
“A matrix structure integrates four competencies on a worldwide scale.” Explain.
In a company involved in global marketing, which activities should be centralized at headquarters and which should be delegated to national or regional subsidiaries?
1. If a company such as Unilever has to make trade-offs between being a good corporate citizen and making a profit, which should be the higher priority?2. Assess Cescau€™s response to the
Are top executives of global companies likely to be home-country nationals?
What is the connection, if any, between national competitive advantage and company competitive advantage? Explain.
According to current research on competitive advantage, what are some of the shortcomings of Porter’s model?
How can a nation achieve competitive advantage?
1. Jorgen Vig Knudstorp became CEO in 2004. Assess the key strategic decisions he has made, including outsourcing and divesting the theme parks.2. LEGO’s movie-themed products, keyed to popular
Briefly describe Hamel and Prahalad’s framework for competitive advantage.
1. Review the characteristics of global and transnational companies in Chapter 1. Based on your reading of the case, would IKEA be described as a global firm or a transnational firm?2. At the end of
How does the five partners (flagship) model developed by Rugman and D’Aveni differ from Porter’s five forces model?
1. CEO Winterkorn intends to make VW the world’s number 1 automaker by 2018. Do you think this is an attainable goal, or is it an “exaggerated” or “stretch” goal designed to motivate
Outline Porter’s five forces model of industry competition. How are the various barriers to entry relevant to global marketing?
Which pricing model do you think is better for music downloads, the iTunes Store’s “pay-per-track” or Rhapsody’s subscription service? Do you think cloud-based music services will be
What is the Long Tail? What implications does this have for market segmentation?
What is the innovator’s dilemma? What is the difference between a sustaining technology and a disruptive technology? Briefly review Christensen’s five principles of disruptive innovation.

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