Questions and Answers of Marketing Real People Real Choices

10-42. Consider the issue of price elasticity for the two broad classes of United’s customer base: leisure travelers and business travelers. Are they generally elastic or inelastic?
10-41. What are some ways to implement your recommendation?
10-40. What decision(s) do you recommend?
10-39. What are the alternatives?
10-38. What factors are important in understanding this decision situation?
10-37. What is the decision facing United Airlines?
10-36. Experiment 2: Odd–Even Pricing For this experiment, you will only need one of the items from experiment 1.a. Place a sign on the item that ends in 99 cents (e.g.,$62.99). Ask research
10-35. Experiment 1: Reference Pricinga. Place the two products together. Place a sign on one with a low price. Place a sign on the other with a high price (about 50 percent higher will do). Ask your
10-34. Critical Thinking Some retailers manufacture their own store brands that compete with well-known national brands. Typically, the store brands are sold right beside the name-brand product on
10-33. Critical Thinking You work as a marketer for a large chain of upscale skin care boutiques that offer all-natural skin and beauty products. The price of your ingredients has been rising
10-32. Ethics Luxury products often set pricing at as much as 10 to 20 times the cost of producing the product.What reasons might the company have for setting such high prices? Do you feel this
10-31. Ethics Many successful retailers use a loss leader pricing strategy, in which they advertise an item at a price below their cost and sell the item at that price to get customers into their
10-30. Critical Thinking Two-part pricing and payment pricing are tactics that are designed to make things more affordable for customers and better meet their needs.Do you think these policies always
10-29. Ethics Several online stores now sell products to consumers at different prices based on the user’s information, such as geographic location—which determines your proximity to competitors
10-28. Critical Thinking Governments sometimes provide price subsidies to specific industries; that is, they reduce a domestic firm’s costs so that it can sell products on the international market
10-27. Based on the above, does this seem like a good business venture to you? Why or why not?
10-26. How many units of Hummus-to-Go must Touch of Beirut sell to earn a total profit of $1,500,000?
10-25. What is the break-even volume for the first year that will cover the planned advertising and promotion (1) in units and (2) in dollars?
10-24. What is the contribution per unit for Hummus-to-Go?
10-23. For Further Research (Groups) Select one of the product categories below. Identify two different firms that offer consumers a line of product offerings in the category.For example, Dell, HP,
10-22. For Further Research (Individual) In this chapter, we talked about how airlines use yield management pricing to ensure that every seat is filled on every flight, thus maximizing profits. Go to
10-21. For Further Research (Individual) Assume you are the owner of a small Italian restaurant. You are seeking ways to increase your business. You believe that bundling items on the menu will
10-20. Creative Homework/Short Project You are the assistant manager of a local grocery store. While walking to the store, you observe that there are two different bins of zucchini. One bin is priced
10-19. In Class, 10–25 Minutes for Teams For each of the following products, determine at least three different prices that might be charged. Then, survey each of the individuals within your group
10-18. Creative Homework/Short Project Assume that you are an entrepreneur who runs a bakery that sells glutenfree breads and cakes. You believe that the current economic conditions merit an increase
10-17. Explain these ethical and legal problems in B2B pricing:B2B price discrimination, price fixing, and predatory pricing.
10-16. Explain how unethical marketers might use bait-andswitch tactics, price-fixing, and predatory pricing.
10-15. Explain these psychological aspects of pricing: price–quality inferences, odd–even pricing, internal reference price, price lining, and prestige pricing.
10-14. What is dynamic pricing? What is internet price discrimination?What is the difference between the two?
10-13. Why do marketers use trade or functional discounts, quantity discounts, cash discounts, and seasonal discounts in pricing to members of the channel?
10-12. Explain two-part pricing, payment pricing, price bundling, captive pricing, and distribution-based pricing tactics.
10-11. Explain decoy pricing. Is decoy pricing ethical?
10-10. How do marketers customize pricing with price segmentation, peak load pricing, and surge pricing? What are some ways marketers can price to meet the need of bottom-of-the-pyramid consumers?
10-9. For new products, when is skimming pricing more appropriate, and when is penetration pricing the best strategy? When would trial pricing be an effective pricing strategy?
10-8. Explain and give an example of cost-plus pricing, target costing, and yield management pricing.
10-7. Give an example of how the competitive environment influences prices. What about government regulation and consumer trends? What are some ways the global environment can influence a firm’s
10-6. What are trade margins? How do they relate to the pricing for a producer of goods?
10-5. What is break-even analysis?
10-4. Explain variable costs, fixed costs, average variable costs, average fixed costs, and average total costs.
10-3. Explain how the demand curves for normal products and for prestige products differ. What are demand shifts and why are they important to marketers? How do firms go about estimating demand? How
10-2. Describe and give examples of some of the following types of pricing objectives: profit, market share, competitive effect, customer satisfaction, and image enhancement.
10-1. What is price, and why is it important to a firm? What is cryptocurrency (digital currency), such as Bitcoin?What does the term blockchain refer to?
10.6 Understand the important considerations in job compensation, how to set realistic expectations, and improve your chances of getting a great first job. pp. 361–364
10.5 Describe the psychological, legal, and ethical aspects of pricing. pp. 356–361 PSYCHOLOGICAL, LEGAL, AND ETHICAL ASPECTS OF PRICING p. 356
10.4 Understand the opportunities for Internet pricing strategies.pp. 354–356 PRICING AND ELECTRONIC COMMERCE p. 354
10.3 Understand key pricing strategies and tactics.pp. 346–354 IDENTIFY STRATEGIES AND TACTICS TO PRICE THE PRODUCT p. 346
10.2 Describe how marketers use costs, demand, revenue, and the pricing environment to make pricing decisions.pp. 334–346 COSTS, DEMAND, REVENUE, AND THE PRICING ENVIRONMENT p. 334
10.1 Explain the importance of pricing and how marketers set objectives for their pricing strategies. pp. 330–334“YES, BUT WHAT DOES IT COST?” p. 330
9-42. Creative Homework/Short Project. Assume that you are the vice president of marketing for a firm that markets a large number of specialty food items (gourmet sauces, marinades, relishes, and so
9-41. Creative Homework/Short Project. You may think of your college or university as an organization that offers a line of different educational products. Assume that you have been hired as a
9-40. What is an additional brand extension that Blue Diamond could develop to leverage the brand’s equity?
9-39. From the case above and the website, what examples do you see of a filling-out strategy?
9-38. Review Blue Diamond’s product line on their website(www,bluediamond.com). What examples do you see of an upward line stretch?
9-37. What are some ways to implement your recommendation?
9-36. What decision(s) do you recommend?
9-35. What are the alternatives?
9-34. What factors are important in understanding this decision situation?
9-33. What is the decision facing Blue Diamond?
9-32. Present a summary to your class on what you learned about the brands and packaging in your two product categories.
9-31. Pick up each of three products and study their package design and any information you can find about the product. Now which product are you most likely to buy? Explain why you chose this
9-30. Ethics You learned in this chapter that it’s hard to legally protect brand names across product categories—Quaker and Apple, for example, and also Delta, which is an airline and a faucet.
9-29. Critical Thinking How do you feel about store brands that design packaging to mimic that of national brands?Should the government place limitations on how similar the packaging can be legally?
9-28. Ethics If a company knows that a snack or beverage is typically consumed in a single sitting (such as a bottle of soda or a bag of chips), is it ethical for that company to include on the
9-27. Critical Thinking In recent years, for packaged products, the FDA has proposed that companies include the percentage daily value for added sugar on the nutrition label. The primary reasoning
9-26. Critical Thinking There are many products in the marketplace that keep the same packaging year after year, even when there may be a newer best practice. Take a look at the list of products
9-25. Ethics How do you think a company’s behavior toward its customers and its community impact purchase?Have you ever purchased (or not purchased) a brand because of what you knew about their
9-24. Critical Thinking Many times firms take advantage of their popular, well-known brands by developing brand extensions because they know that the brand equity of the original or parent brand will
9-23. Critical Thinking Quality is an important product/service objective, but quality can mean different things for different goods and services, such as durability, precision, aesthetic appeal, and
9-22. Critical Thinking Are there specific products that you purchase where branding does not matter and has never mattered to you? What characteristics of the related products and your own
9-21. Critical Thinking Brand equity means that a brand enjoys customer loyalty, perceived quality, and brandname awareness. To what brands are you personally loyal? What is it about the product that
9-20. What is your opinion about why your selected brand’s equity is what it is and whether it is trending upward or downward?
9-19. What is it about each of your selected brands that attracts your interest?
9-18. For Further Research (Individual) You are interested in the role that Six Sigma plays with regard to product quality. Using the Internet, research the concept of Six Sigma and find at least two
9-17. Creative Homework/Short Project Assume that you have been recently hired by Wrigley’s, the chewing gum manufacturer. You have been asked to work on a plan for redesigning the packaging for 5,
9-16. In Class, 10–25 Minutes for Teams As an entrepreneur, you know you want to open a new unique and innovative food store, but you aren’t sure what kind of products you want to carry. Discuss
9-15. In Class, 10–25 Minutes for Teams Assume that you are working in the marketing department of a major manufacturer of athletic shoes. Your firm is introducing a new product, a line of
9-14. For Further Research (Individual) The fast-food industry has undergone changes in how it packages its food over the years, now being much more “green” in the materials delivered to
9-13. Creative Homework/Short Project Assume you are in the marketing area for an automobile firm such as BMW. You have been tasked with identifying cobranding opportunities. Determine four
9-12. In Class, 10–25 Minutes for Teams Think of products you are familiar with in the marketplace. Brainstorm with your group and identify at least three products(not specific brands) that fall
9-11. Describe some of the ways firms organize the marketing function to manage existing products. What are the ways firms organize for the development of new products?
9-10. What should marketers know about package labeling?
9-9. What are the functions of packaging? What are some important elements of effective package design?
9-8. What does it mean to license a brand? What is cobranding?
9-7. What are individual and family brands? A national brand? A store brand?
9-6. What is a brand extension? What is sub-branding?
9-5. What is a brand? What are the characteristics of a good brand name? How do firms provide legal protection for their brands?
9-4. How are products managed during the different stages of the product life cycle?
9-3. Explain the product life cycle concept. What are the stages of the product life cycle?
9-2. Why is quality such an important product strategy objective? What are the dimensions of product quality?How has e-commerce affected the need for quality product objectives?
9-1. What are some reasons a firm might determine it should expand a product line? What are some reasons for contracting a product line? Why do many firms have a product mix strategy?
9.5 Understand how to manage your career so that you will be able to adapt and flourish in a changing work environment. pp. 318–320
9.4 Describe how marketers structure organizations for new and existing product management. pp. 317–318 ORGANIZE FOR EFFECTIVE PRODUCT MANAGEMENT p. 317
9.3 Explain how branding and packaging strategies contribute to product identity. pp. 307–316 BRANDING AND PACKAGING:CREATE PRODUCT IDENTITY p. 307
9.2 Understand how firms manage products throughout the product life cycle. pp. 303–306 MARKETING THROUGHOUT THE PRODUCT LIFE CYCLE p. 303
9.1 Discuss the product objectives and strategies a firm may choose.pp. 296–302 PRODUCT PLANNING: DEVELOP PRODUCT OBJECTIVES AND PRODUCT STRATEGY p. 296
2.1 Understand the big picture of international marketing and the decisions firms must make when they consider globalization. pp. 38–41
2.2 Explain how international organizations such as the World Trade Organization(WTO), the World Bank, the International Monetary Fund (IMF), economic communities, and individual country regulations
2.3 Understand how factors in a firm’s external business environment influence marketing strategies and outcomes in both domestic and global markets.pp. 44–54
2.4 Explain some of the strategies and tactics that a firm can use to enter global markets.pp. 55–59
2.5 Understand the importance of ethical marketing practices.pp. 59–63

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