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business
principles of marketing

Questions and Answers of Principles Of Marketing

The president of an automobile accessory manufacturing business wants to purchase a chain of automotive retail stores. What managerial questions might you raise about the decision? What legal issues
Name five uses of coercive power that would be legal in interorganizational manage ment. Name five uses of reward power that would be legal.
From a strictly managerial perspective, what are the differences between market cov erage and customer coverage policies? Do they accomplish the same or different ends in the same or different ways?
Which conflict management strategies suggested in Chapter 7 might be questionable. from a legal perspective? Why?
Some companies have adopted reverse logistics systems under pressure from government regulation. Should this idea be generalized to all products? To all firms? What are the argu- ments pro and con?
The Zara sidebar argues that quick response can be done without state-of-the-art infor mation technology. Do you agree? Is the Zara case unusual? Would Zara be better off by introducing SCM hardware
In your opinion, what is the greatest obstacle to implementing the principles and practices of supply chain management?
Give three examples of more innovative products (for SCM purposes) and three examples of more functional products. Give at least one example of two brands (one more innovative, one more functional)
Franchising is often thought of as a retail activity, but B2B franchising is now flour- ishing. If it is a good idea, why has it spread more slowly than B2C franchising?
The policy of developing multiunit franchisees by giving them contiguous sites is in many ways very costly and cumbersome. What are the costs and benefits of contigu- ity? Is the policy worth its
There are two ways to become a multiunit franchisee. One is sequential develop ment: Franchisees are given new sites to develop after they master existing sites. The other is area development: An
Some companies disdain franchising because it means putting an intermediary between themselves and their customers. Their attitude is that one less intermediary is one less person to remunerate.
"The franchisor wants to own the very best locations. These are money makers, and their prime locations make them an advertisement for the brand. They have to be just perfect." Debate this statement.
In the McDonald's example, trace the ways in which franchisee and franchisor influ ence each other. Who has the greater power and why?
What are the ways in which a franchise contract motivates a franchisee to cooperate with the franchisor? What are the positive and negative aspects of these contracts from the franchisee's viewpoint?
In 1988, Vidal Herrera founded a U.S. company, Autopsy/Post Services, to perform autopsies in Los Angeles. An autopsy is a medical examination of a corpse, includ- ing dissection and tests of tissue
Write a plan for starting your own franchising operation. What would be the essential elements of the plan? What specific points would you include in the contractual arrangement you establish with
Farmers' co-ops often start off well, then find themselves unable to compete with pri- vate wholesalers. What would you suggest are the major issues? What are steps a farm- ers' co-op can take to
When facing consolidation at the wholesale level, what is the manufacturer's best reaction?
Wholesaling is often thought of as a less glamorous intermediary venture when com- pared with other channel intermediary operations, such as retailing. In your opinion, which of these two would be
Inventories and accounts receivable represent 65 percent to 85 percent of the total assets of a wholesaler. Many bankers consider that these are the only assets worth con- sidering when deciding
Consider the following statement: "A wholesaling operation can be eliminated as an entity, but someone must perform the wholesaling tasks and absorb the costs sus- tained by the wholesaler if it is
What are the essential distinctions among the three categories of wholesale trade?
Explain why the future for the wholesaler-distributor is optimistic?
Contrast sales agents and wholesaler-distributors in the ways that matter to a manufacturer
Sketch the ways in which wholesaling is being altered by electronic commerce
Explain why consolidation is common in wholesaling and sketch the manufacturer's possi- ble responses to a consolidation wave
Pinpoint the major distinctions between a wholesaler voluntary group and a dealer coop- erative and relate this to the value they provide their members
Sketch mechanisms by which channel members become a federation to offer exceptional services while cutting their costs
Describe the nature of an independent wholesaler-distributor's value added and explain why this sector is growing
Distinguish three broad categories of institutions that constitute the wholesaling sector
Why do retailers sometimes choose to acquire overseas retailers or build their own overseas retail outlets and sometimes choose to partner with a local licensee or retailer (without completely
You are an apparel manufacturer, selling to major department stores in the United States. Each retailer makes different demands of you. One requires that you ship gar ments to each store rather than
What type (s) of power are represented by retailers demanding slotting allowances or failure fees from their suppliers? Why do suppliers comply? Is conflict generated by the use of this power and, if
Why are a low average retail margin and a high turnover rate in a retail outlet a viable combination for retail financial success? What would happen if margin and turnover were both low? Both high?
Think of a product you have recendy purchased at retail. Evaluate (a) what service outputs you expected to get from the retail experience, (b) how you chose the retailer to visit based on your
Be aware of the increasing globalization of retailing and how it affects not just the retailers who themselves are selling outside their national borders but also their suppliers and local
Understand the power and coordination issues facing retailers and their suppliers and how suppliers respond to retailers' use of power to influence channel behavior
Be aware of important trends and developments on the consumer and channel side that affect retail management
Understand how a retail positioning strategy flows from both cost-side and demand-side factors Understand that the retailer's positioning strategy implies a set of service outputs deliv ered to the
Be familiar with the types of retail structures that exist worldwide
Articulate the steps in the consumer buying process.AppendixLO1
Describe the difference between functional and psychological needs.AppendixLO1
Describe factors that affect information search.AppendixLO1
Discuss postpurchase outcomes. Los List the factors that affect the consumer decision process.AppendixLO1
Describe how involve- ment influences the consumer decision process.AppendixLO1
Name the five stages in the consumer decision process.AppendixLO1
What is the difference between a need and a want?AppendixLO1
Distinguish between functional and psychological needs.AppendixLO1
What are the various types of perceived risk?AppendixLO1
What are the differences between compensatory and noncompensatory decision rules?AppendixLO1
What are some examples of specific needs suggested by Maslow’s Hierarchy of Needs?AppendixLO1
Which social factors likely have the most influence on (a) the purchase of a new outfit for a job interview and (b) the choice of a college to attend?AppendixLO1
List some of the tactics stores can use to influence consumers’ decision processes.AppendixLO1
How do low- versus high-involvement consumers process the information in an advertisement?AppendixLO1
What is the difference between extended versus limited problem solving?AppendixLO1
Laura has a nearly new economy car but wants a sports car. If she decides to purchase a sports car, she will be primarily fulfilling needs.a. functionalb. postpurchasec. safetyd. psychologicale.
When Maya decided to buy a new computer, she thought about all the brands she could recall seeing advertised, but she would only consider those brands she could buy at her local electronics
Describe the ways in which business-to- business (B2B) firms segment their markets.AppendixLO1
List the steps in the B2B buying process.AppendixLO1
Identify the roles within the buying center.AppendixLO1
Describe the different types of organiza- tional cultures.1. Detail different buying situations.AppendixLO1
Identify the stages in the B2B buying process.AppendixLO1
How do you perform a vendor analysis?AppendixLO1
What factors affect the B2B buying process?AppendixLO1
What are the six different buying roles?AppendixLO1
What is the difference between new buy, rebuy, and modified rebuy?AppendixLO1
After posting an RFP for telecommunication equipment, the University of Central Florida received six proposals from qualified vendors. Next, UCF will:a. recognize obstacles that must be
Whenever Kim, a textbook publisher’s representative, calls on the business faculty at Major University, her first stop is to chat with Frank, the business department secretary. From Frank, Kim
Describe the compo- nents of a country market assessment.AppendixLO1
Understand the mar- keting opportunities in BRIC countries.AppendixLO1
Identify the various market entry strategies.AppendixLO1
Highlight the similari- ties and differences between a domestic marketing strategy and a global marketing strategy.AppendixLO1
What metrics can help analyze the economic environment of a country?AppendixLO1
What types of government actions should we be concerned about as we evaluate a country?AppendixLO1
What are five important cultural dimensions?AppendixLO1
Why are each of the BRIC countries viewed as potential candidates for global expansion?AppendixLO1
Which entry strategy has the least risk and why?AppendixLO1
Which entry strategy has the most risk and why?AppendixLO1
What are the components of a global marketing strategy?AppendixLO1
What are the three global product strategies?AppendixLO1
Geert Hofstede’s cultural dimensions concept focuses on five dimensions of in a country.a. symbolsb. underlying valuesc. ceremoniesd. dresse. visible artifacts AppendixLO1
NCD company wants to expand into the Mexican market. They have financial resources, want to control business operations, and have had considerable success marketing to Hispanics in the United
Outline the different methods of segment- ing a market.AppendixLO1
Describe how firms determine whether a segment is attractive and therefore worth pursuing.AppendixLO1
Articulate the differ- ences among targeting strategies: undifferen- tiated, differentiated, concentrated, or mi- cromarketing.AppendixLO1
Determine the value proposition. Los Define positioning, and describe how firms do it.AppendixLO1
What is a perceptual map?AppendixLO1
Identify the six positioning steps.AppendixLO1
NASCAR redirected its marketing efforts when a survey indicated that almost 50 percent of race fans were female. This is an example of segmentation.a. geographicb. psychographicc. demographicd.
Within a perceptual map, a(n) represents where a particular market segment’s desired product would lie.a. point of parityb. strategic targetc. PRIZM clusterd. ideal pointe. benefit
Identify the five steps in the marketing re- search process.AppendixLO1
Describe the various secondary data sources.AppendixLO1
Describe the various primary data collec- tion techniques.AppendixLO1
Summarize the differ- ences between sec- ondary data and primary data.AppendixLO1
Examine the circum- stances in which col- lecting information on consumers is ethical.AppendixLO1
What are the steps in the marketing research process?AppendixLO1
What is the difference between data and information?AppendixLO1
What is the difference between internal and external secondary research?AppendixLO1
What are the types of qualitative research?AppendixLO1

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