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business
principles of marketing

Questions and Answers of Principles Of Marketing

Explain the importance of market segmentation? LO.1
Discuss the criteria for successful market segmentation? LO.1
Identify and understand the psychological factors that affect consumer buying decisions? LO.1
Identify and understand the individual factors that affect consumer buying decisions? LO.1
Describe the external environment facing global marketers? LO.1
Identify the various ways of entering the global marketplace? LO.1
List the basic elements involved in developing a global marketing mix? LO.1
Discover how the Internet is affecting global marketing? LO.1
Explain why marketing managers should understand consumer behavior? LO.1
Analyze the components of the consumer decisionmaking process? LO.1
Explain the consumer’s postpurchase evaluation process? LO.1
Identify the types of consumer buying decisions and discuss the significance of consumer involvement? LO.1
Describe how some marketers are reconceptualizing the consumer decision-making process.? LO.1
Identify and understand the cultural factors that affect consumer buying decisions? LO.1
Identify and understand the social factors that affect consumer buying decisions? LO.1
Describe the bases for segmenting business markets? LO.1
List the steps involved in segmenting markets? LO.1
Discuss alternative strategies for selecting target markets? LO.1
Describe marketing uses of packaging and labeling? LO.1
Discuss global issues in branding and packaging? LO.1
Describe how and why product warranties are important marketing tools? LO.1
Explain the importance of developing new products and describe the six categories of new products? LO.1
Explain the steps in the new-product development process? LO.1
Understand why some products succeed and others fail? LO.1
Discuss global issues in new-product development? LO.1
Explain the diffusion process through which new products are adopted? LO.1
Explain the concept of product life cycles? LO.1
Discuss the importance of services to the economy? LO.1
Discuss the differences between services and goods? LO.1
Describe the components of service quality and the gap model of service quality? LO.1
Describe marketing uses of branding? LO.1
Define the terms product item, product line, and product mix? LO.1
Explain how CRM can be used as a targeting tool? LO.1
Explain how and why firms implement positioning strategies and how product differentiation plays a role? LO.1
Define marketing research and explain its importance to marketing decision making? LO.1
Describe the steps involved in conducting a marketing research project? LO.1
Discuss the profound impact of the Internet on marketing research? LO.1
Describe the growing importance of mobile research? LO.1
Discuss the growing importance of scanner-based research? LO.1
Explain when marketing research should be conducted? LO.1
Explain the concept of competitive intelligence? LO.1
Define the term product? LO.1
Classify consumer products? LO.1
How does Live Nation’s strategy provide better value for customers?
Based on the product/market expansion grid, provide support for the strategy that Live Nation is pursuing.
What is Live Nation’s mission?
Are the company’s efforts enough? Is it possible for Southwest Airlines to reverse the effects of a strong industry slump?
Consider every tactic that Southwest Airlines is employing to curtail slumping sales. Evaluate the degree to which each is effective at accomplishing its goal.
Using the product/market expansion grid, discuss the strategies that UNIQLO, the Japanese casual fashion chain, employed to grow its business.
In a small group, discuss whether the following statement from Nike meets the criteria of a good mission statement: “To bring inspiration and innovation to every athlete* in the world. (*If you
Discuss the differences between market segmentation, targeting, differentiation, and positioning. Which two questions do they address?
Name and describe the four product/market expansion grid strategies. Apple introduced the iPad in 2010 to its line-up of the iPod, iPhone, and iMac.Which growth strategy does this represent?
Define strategic planning and briefly describe the four steps in the strategic planning process. Discuss the role marketing plays in this process.
How many dozen eggs does a conventional farmer need to sell to break even? How many does an organic farmer need to sell to break even? (AACSB: Communication; Analytical Reasoning) LO.1
Most large egg farmers sell eggs directly to retailers. What is the farmer’s price per dozen to the retailer for conventional and organic eggs if the retailer’s margin is 20 percent based on the
With all its efforts to do good , can Life Is Good continue to do well ? Explain. LO.1
How does Life Is Good practice sustainable marketing principles? LO.1
How many examples can you provide showing how Life Is Good defi es the common social criticisms of marketing? LO.1
Google “green awards” to learn about the various awards programs recognizing environmental consciousness and sustainable practices. Select one that recognized a business for a sustainable
Watch The Story of Stuff video at www.youtube.com/story ofstuffproject#p/u/22/9GorqroigqM or one of the other videos, such as The Story of Bottled Water , The Story of Electronics , or The Story of
Discuss the philosophies that might guide marketers facing ethical issues. (AACSB: Communication)1. Some cultures are more accepting than others of corrupt practices such as bribery. Although
Discuss the challenges environmentalism creates for global marketers and how marketers are dealing with these challenges.(AACSB: Communication) LO.1
Can an organization focus on both consumerism and environmentalism at the same time? Explain. (AACSB: Communication;Refl ective Thinking) LO.1
Discuss the types of harmful impact that marketing practices can have on competition and the associated problems.(AACSB: Communication) LO.1
Critics claim that marketing results in higher prices for consumers.Discuss the bases for this claim and how marketers refute them. (AACSB: Communication) LO.1
What is sustainable marketing? Explain how the sustainable marketing concept differs from the marketing concept and the societal marketing concept. (AACSB: Communication) LO.1
Is the U.S. fi lm industry now dependent upon foreign markets for success? Compare this to other U.S. exports. LO.1
Which of the fi ve strategies for adapting products and promotion for the global market is most relevant to the U.S. fi lm industry? LO.1
Which part of the marketing environment seems to be having the greatest impact on U.S. fi lms abroad? LO.1
Discuss two examples of reverse innovation for nontechnology products. (AACSB: Communication; Refl ective Thinking) LO.1
Learn more about how GE used reverse innovation to capitalize on opportunities in the United States. Find two other examples of reverse innovation for technological products.(AACSB: Communication;
Discuss two examples of reverse innovation for nontechnology products. (AACSB: Communication; Refl ective Thinking) LO.1
Learn more about how GE used reverse innovation to capitalize on opportunities in the United States. Find two other examples of reverse innovation for technological products.(AACSB: Communication;
Find another example of a U.S. law or trade agreement that encourages or discourages trade with foreign countries.Discuss the positive and negative consequences of the law.(AACSB: Communication; Refl
Should the U.S. government be able to make laws that favor some countries and impact the United States and other countries so dramatically? (AACSB: Communication; Ethical Reasoning) LO.1
One way to analyze the cultural differences among countries is to conduct a Hofstede analysis. Visit www.geert-hofstede.com/ to learn what this analysis considers. Develop a presentation explaining
Selling a product in a foreign country is diffi cult and many companies make mistakes. Find and report on two examples of companies making marketing mistakes when entering a foreign country. (AACSB:
Visit www.transparency.org and click on “corruption perception index.” What is the most recent CPI for the following countries: Denmark, Jamaica, Malaysia, Myanmar, New Zealand, Somali, and the
Discuss how global distribution channels differ from domestic channels. (AACSB: Communication) LO.1
Discuss the strategies used for adapting products to a global market. Which strategy is best? (AACSB: Communication) LO.1
Name and describe the advantages and disadvantages of the different types of joint venturing when entering a foreign market. (AACSB: Communication; Refl ective Thinking) LO.1
Discuss the four types of country industrial structures and the opportunities each offers to international marketers.(AACSB: Communication) LO.1
Discuss the types of restrictions governments might impose on trade between nations. (AACSB: Communication) LO.1
Explain what is meant by the term global fi rm and list the six major decisions involved in international marketing.(AACSB: Communication) LO.1
How does Boston Harbor Cruises use the concepts of differentiation and positioning to build the right relationships with the right customers? LO.1
Which target marketing strategy best describes Boston Harbor Cruises’ efforts? Support your choice. LO.1
On what main variables has Boston Harbor Cruises segmented its markets? LO.1
Using the chain ratio method described in Appendix 3:Marketing by the Numbers, estimate the market potential for undergraduate education in the veteran market. Be sure to state any assumptions.
Discuss the factors used to evaluate the usefulness of the military veteran segment. (AACSB: Communication; Refl ective Thinking) LO.1
Is it appropriate that marketers focus on such a young market with high-priced clothing? (AACSB: Communication;Refl ective Thinking; Ethical Reasoning) LO.1
What segmentation variables are marketers using in this example?(AACSB: Communication; Refl ective Thinking) LO.1
What effect does very heavy usage by some customers have on other customers of broadband services? What are marketers of these services doing to counter the effect of heavy users? (AACSB:
Research net neutrality and write a report on the pros and cons of this principle from the viewpoint of businesses providing Internet and wireless broadband services.(AACSB: Communication; Refl
Create an idea for a new business. Using the steps described in the chapter, develop a customer-driven marketing strategy.Describe your strategy and conclude with a positioning statement for this
When Nissan introduced its large Titan pickup truck in the United States and Toyota introduced the Tundra, each thought they would sell around 200,000 vehicles per year and had planned capacity for
Visit a grocery store and examine the brands of breakfast cereal. Using the bases for segmenting consumer markets, identify the segmentation variables a specifi c brand appears to be using. Summarize
In the context of marketing, what is a product’s position ? How do marketers know what it is? (AACSB: Communication) LO.1
How do marketers use local marketing and individual marketing?Do these terms mean the same thing? (AACSB:Communication; Refl ective Thinking) LO.1
Name and describe the levels at which market targeting can be carried out. Give an example of a company using each.(AACSB: Communication; Refl ective Thinking) LO.1
Explain how companies segment international markets.(AACSB: Communication) LO.1

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