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marketing management

Questions and Answers of Marketing Management

Show how situational factors and consumers’relationships with other people influence consumer behavior. pp. 202–208 SITUATIONAL AND SOCIAL INFLUENCES ON CONSUMERS’DECISIONS p. 202
Understand the characteristics of businessto-business markets and how marketers classify business-to-business customers. pp. 208–214 BUSINESS MARKETS: BUYING AND SELLING WHEN THE CUSTOMER IS
Identify and describe the different business buying situations and the business buying decision process, including the use of e-commerce and social media. pp. 214–222 BUSINESS BUYING SITUATIONS AND
Understand what prospective employers are looking for in an employee and how you can meet their needs, thus increasing your chances that the employer will “buy” or hire you. pp. 223–224
What is consumer behavior? Why is it important for marketers to understand consumer behavior? LOL-1
Explain habitual decision making, limited problem solving, and extended problem solving. What is the role of perceived risk in the decision process? LOL-1
Explain the steps in the consumer decision-making process. LOL-1
What is perception? Explain the three parts of the perception process: exposure, attention, and interpretation. LOL-1
Describe Maslow’s hierarchy of needs as it relates to motivation. LOL-1
How does gamification influence consumers’ motivation to interact with brands? LOL-1
What is behavioral learning? What is cognitive learning?How is understanding these concepts useful to marketers? LOL-1
What are the three components of attitudes? LOL-1
What is personality?
What is family life cycle? How does it impact a marketer’s ability to better reach their target?
What is the concept of time poverty? How does it impact today’s consumer differently than consumers in the 1970s? LOL-1
How do situational influences, such as the physical environment and time, shape consumer purchase decisions? LOL-1
What are cultures, subcultures, and microcultures? LOL-1
What is the significance of social class to marketers? LOL-1
What are reference groups, and how do they influence consumers? LOL-1
What are opinion leaders?
What are gender roles? Define this term and give an example.
What methods are typically used to classify B2B markets?
Creative Homework/Short Project This chapter indicated that consumers go through a series of steps (from problem recognition to postpurchase evaluation) as they make purchases. Write a detailed
Creative Homework/Short Project Think about some of the goods and services you purchase frequently (movie tickets or your smartphone bill) as well as a few impulse purchases you might make (a
In Class, 10–25 Minutes for Teams You work for a landscaping company that specializes in business customers.You offer many options, from a one-time grass cut to daily maintenance of grounds. Your
For Further Research (Individual) You work for a firm that sells digital cameras. You are concerned about the effects of current consumer trends, including improved quality of in-phone cameras and
Take a few minutes to go back and briefly review what you learned in Chapter 4 about the different approaches to collecting data. Propose an approach to collecting the types of information from a
Critical Thinking What are the core values of your culture?List any subcultures that you belong to—what distinctive beliefs, characteristics, or experiences are a part of these?
Critical Thinking Retailers typically place impulse buy items near the check-out counter to catch the consumer’s eye as they wait in line. Most of the time these are small-dollar purchases—think
Critical Thinking In different cultures, gender role perceptions can vary greatly. What are some ways you think gender roles differ in countries you have visited or have knowledge of? What are the
Problem Recognition Describe the problem that might lead you to purchase this product.The purpose of this miniproject is to increase your understanding of the process that consumers go through when
Information Search Use the Internet to gather some initial information about the product you chose. Visit at least two stores or locations where the product may be purchased to gather further
Evaluation of Alternatives Identify at least five alternative product options that you are interested in. Narrow down your selection to two or three choices. Which are the most feasible? What are the
Product Choice Make a final decision about which product you will purchase. Describe the heuristics that aided in your decision making.The purpose of this miniproject is to increase your
Postpurchase Evaluation If this is a product you have actually purchased, explain the reasoning behind your current satisfaction or dissatisfaction with the product.If not, develop several reasons
Prepare a report that explains in detail the decision-making process for the product in your purchase scenario.The purpose of this miniproject is to increase your understanding of the process that
What is the primary decision facing Starbucks?Maybe you are one of the millions in the U.S. who starts the day with your favorite coffee drink from market leader Starbucks. If you are, the marketers
What factors are important in understanding this decision situation?Maybe you are one of the millions in the U.S. who starts the day with your favorite coffee drink from market leader Starbucks. If
What are the alternatives to the primary decision the company is facing?Maybe you are one of the millions in the U.S. who starts the day with your favorite coffee drink from market leader Starbucks.
What decision(s) do you recommend?Maybe you are one of the millions in the U.S. who starts the day with your favorite coffee drink from market leader Starbucks. If you are, the marketers there would
What are some ways to implement your recommendation?Maybe you are one of the millions in the U.S. who starts the day with your favorite coffee drink from market leader Starbucks. If you are, the
What kind of consumer decision-making processes are in play when consumers are considering afternoon snack options?
What internal influences could influence consumer decisions as they are exposed to various stimuli before or while visiting a Starbucks location?
What kinds of situational influences might be factors in a consumer’s decision-making process regarding purchases at Starbucks?
Creative Homework/Short Project. You are the director of purchasing for Sony’s television production division. You have just discovered that an important part used to manufacture your smart TVs has
Identify the steps in the target marketing process. pp. 234–235 TARGET MARKETING: SELECT AND ENTER A MARKET p. 234
Understand the need for market segmentation and the approaches available to do it. pp. 235–247 STEP 1: SEGMENTATION p. 235
Explain how marketers evaluate segments and choose a targeting strategy. pp. 247–250 STEP 2: TARGETING p. 247
Recognize how marketers develop and implement a positioning strategy.pp. 250–253 STEP 3: POSITIONING p. 250
What is market segmentation, and why is it an important strategy in today’s marketplace? What is market fragmentation, and what are its consequences for marketers? LOL-1
What is a target marketing strategy? LOL-1
Describe the three major ethnic groups in the United States (African American, Asian American, and Hispanic American). How do they provide unique segments for many products?
List and explain the major demographic characteristics frequently used in segmenting consumer markets. LOL-1
Explain the process of consumer psychographic segmentation.What is VALSTM and how does it divide the population? LOL-1
What is behavioral segmentation? LOL-1
What are some of the ways marketers segment B2B markets? LOL-1
List the criteria marketers use to determine whether a segment may be a good candidate for targeting. LOL-1
Explain the differences between undifferentiated, differentiated, concentrated, and customized marketing strategies. What is mass customization? LOL-1
What is product positioning? Describe the approaches that marketers use to create product positions.
How do marketers use perceptual maps to help them develop effective positioning strategies?Activities: Apply What You’ve Learned
Creative Homework/Short Project You are the marketing director for a shredding company that specializes in small- to medium-sized businesses. Shredding services include onsite pick up and destruction
In Class, 10–25 Minutes for Teams Assume you are the owner of a local dance studio that offers tap, jazz, ballet, hip-hop, and tumbling classes to children (ages 2–18). To better market your
For Further Research (Individual) Select any automobile make and model that has been around for at least two decades and find at least five print advertisements from throughout that time frame. From
Creative Homework Choose a food category that you know well and that has several brands that compete in the marketplace. Develop a perceptual map for that category.First, you will need to create two
Ethics Some businesses market unwholesome products to certain segments of the market—the elderly, disabled veterans, and others. Should these groups warrant special concern or protection? Should
Critical Thinking Sometimes marketers will develop strategies to target multiple social class segments with the same product by offering it at different prices—based on a perceived ability to pay a
Critical Thinking In this chapter, you learned about the use of geotargeting and its capability to more precisely provide consumers with benefits, such as promotions that are especially relevant and
Critical Thinking Companies sometimes find themselves in a situation where they need to reposition to keep up with changing times. Recently automaker Buick has developed new vehicle models that they
Develop a presentation (or write a report) outlining your ideas, your research, your findings, and your marketing strategy recommendations.a. Gather ideas about different dimensions useful for
What is the decision facing McDonald’s?Part of their challenge has been responding to the tastes and priorities of a key demographic target: millennials. Born between roughly 1979 and 1994, this
What factors are important in understanding this decision situation?Part of their challenge has been responding to the tastes and priorities of a key demographic target: millennials. Born between
What are the alternatives?Part of their challenge has been responding to the tastes and priorities of a key demographic target: millennials. Born between roughly 1979 and 1994, this generation
What decision(s) do you recommend?Part of their challenge has been responding to the tastes and priorities of a key demographic target: millennials. Born between roughly 1979 and 1994, this
What are some ways to implement your recommendation?Part of their challenge has been responding to the tastes and priorities of a key demographic target: millennials. Born between roughly 1979 and
What are the challenges of marketing a product that has appeal to several generational market segments?
Besides age/generational segments, what other market segmentation approaches could McDonald’s use?
What marketing mix tactics could the company use to appeal to the additional segments you identified?
3.1 Explain business planning and its three levels. pp. 80–82
3.2 Describe the steps in strategic planning.pp. 82–88
3.3 Describe the steps in market planning.pp. 88–98
Understand how to develop a strategic plan for a successful career.pp. 98–101
What is a marketing plan, and how does it differ from a business plan? Appendix
Describe the three levels of business planning: strategic, functional, and operational planning. Appendix
What is a mission statement? What role does it play in the planning process? Appendix
Describe the five steps in the strategic planning process. Appendix
List and explain the four characteristics that make an objective effective? Appendix
Describe the four business growth strategies: market penetration, product development, market development, and diversification. Appendix
Explain the four steps in the market planning process. Appendix
Give an example of operational planning that supports a marketing plan. Describe what that plan might include. Appendix
Creative Homework/Short Project As a marketing student, you know that large firms often organize their operations into a number of strategic business units (SBUs).Consider a business that you are
Creative Homework/Short Project Select one of your favorite local small businesses. Perform a SWOT analysis for that business that includes at least three items under each header.
In Class, 10–25 Minutes for Teams Select a product that you all use, such as shampoo or toothpaste. Identify the different brands of the product used by each person in your group. Determine what
For Further Research (Groups) The Boston Cosulting Group (BCG) matrix is used to classify products into one of four groups: stars, cash cows, question marks, and dogs. Think through some of your
Come up with some other product categories besides PCs that are declining and identify the firms within those categories that have the highest market share.What does their profit picture look
Strategic planning is an intensive process that takes a good bit of time and company resources. Is this process useful to small businesses? What are the pros of developing a strategic plan in this
A common saying among managers is “if we can’t measure it, we can’t manage it.” Is there such a thing as an overreliance on marketing metrics? Are there cases or specific aspects of marketing
What is the decision facing Amazon? Appendix
What are some of the factors in the external environment that may have affected Amazon’s decision to acquire Whole Foods?
Using the product-growth matrix you learned about in this chapter, what kind of growth strategy does Amazon’s Whole Foods investment represent?
Using another category from the product-growth matrix, give an example of another strategy Amazon could use for continued growth.

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