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business
principles of marketing

Questions and Answers of Principles Of Marketing

What is business portfolio analysis?Answer: Business portfolio analysis is a technique that managers use to quantify performance measures and growth targets to analyze their firms’ SBUs as though
What is the difference between a marketing dashboard and a marketing metric?Answer: A marketing dashboard is the visual display of the essential information related to achieving a marketing
What is the difference between an organization’s business and its goals?Answer: An organization’s business describes the clear, broad, underlying industry or market sector of an organization’s
What is the meaning of an organization’s mission?Answer: A mission is a clear, concise, meaningful, inspirational, and long-term statement of the organization’s function in society, often
What are examples of a functional level in an organization?Answer: The functional level in an organization is where groups of specialists from the marketing, finance, manufacturing/operations,
What is the difference between a for-profit and a nonprofit organization?Answer: A for-profit organization is a privately owned organization that serves its customers to earn a profit so that it can
What are points of difference and why are they important? LO.1
What are the three steps of the planning phase of the strategic marketing process? LO.1
Explain the four market-product strategies in diversification analysis. LO.1
What is business portfolio analysis? LO.1
What is the difference between a marketing dashboard and a marketing metric? LO.1
What is the difference between an organization’s business and its goals? LO.1
What is the meaning of an organization’s mission? LO.1
What are examples of a functional level in an organization? LO.1
What is the difference between a for-profit and a nonprofit organization? LO.1
Discuss how managers identify and act on deviations from plans. LO.1
Describe the four components of the implementation phase of the strategic marketing process. LO.1
Explain the three steps of the planning phase of the strategic marketing process. LO.1
Discuss how an organization assesses where it is now and where it seeks to be. LO.1
Explain why managers use marketing dashboards and marketing metrics. LO.1
Describe core values, mission, organizational culture, business, and goals. LO.1
Describe three kinds of organizations and the three levels of strategy in them. LO.1
What reservations should she expect? How should she handle them? ALTA DATA SOLUTIONS:MAKING THE SALE36 When Vicki Nguyen reached her office, she had a message from Mike Smith, the regional sales
What are the key points she should make in her presentation? ALTA DATA SOLUTIONS:MAKING THE SALE36 When Vicki Nguyen reached her office, she had a message from Mike Smith, the regional sales manager,
How should she start the meeting? ALTA DATA SOLUTIONS:MAKING THE SALE36 When Vicki Nguyen reached her office, she had a message from Mike Smith, the regional sales manager, to meet him in his office
Who should be at the presentation? ALTA DATA SOLUTIONS:MAKING THE SALE36 When Vicki Nguyen reached her office, she had a message from Mike Smith, the regional sales manager, to meet him in his office
Although reservations on the part of the buyer can arise during each stage of the selling process, they are very likely to occur during the _______stage.a. generation and qualification of leadsb.
When the National Association of Realtors’ national awareness campaign emphasizes that Realtors know how to more efficiently market a client’s property than an owner can by himself, it is
You have taken a summer job in the windows and doors department of a large home improvement store. During sales training, you learn about the products, how to best address customers’ needs, and how
A customer has the following reservations. How do you respond?1. “I really like all the things this copier does, but I don’t think it’s going to be very reliable. With all those features,
Imagine you are a salesperson selling office networking systems and are putting together a sales presentation for a new customer. What are important factors to remember when making your sales
Kevin started a new job as a car salesperson. What are effective ways that he could generate leads? Justify your answer.
Your best friend is considering a career in sales. What are the benefits of a sales career that you would share?
Go to a job posting website and search for sales jobs in your area. Explore the different sales jobs available. What kind of experience and level of education are preferred? What type of compensation
Go to Salesforce.com’s YouTube channel(www.youtube.com/user/salesforce). Watch a few of the short videos and discuss how the tools described would help you as a salesperson.
What are three areas of personal selling in which ethical and legal issues are more likely to arise?
What is the difference between monetary and nonmonetary incentives?
What do sales managers need to do to manage their sales force successfully?
Why is personal selling important to an IMC strategy?
Describe the ethical and legal issues in personal selling.
Describe the key functions involved in managing a sales force.
Define the steps in the personal selling process.
What are Ashley Stewart’s bases for sustainable competitive advantage? Ashley Stewart43 An auditorium full of graduate and undergraduate students was eager to hear what James Rhee, the CEO of
Who is Ashley Stewart’s target market? Could/should that target market be expanded? Ashley Stewart43 An auditorium full of graduate and undergraduate students was eager to hear what James Rhee, the
Describe Ashley Stewart’s retail strategy using the six Ps. Ashley Stewart43 An auditorium full of graduate and undergraduate students was eager to hear what James Rhee, the CEO of Ashley Stewart,
Retailers may modify product, price, and/or promotion to attempt to increase their _____, which is the percentage of a customer’s purchases made from that particular retailer.a. share of walletb.
_____ tailor their retail strategies toward very specific market segments by offering deep, yet narrow assortments and sales associate expertise.a. Warehouse clubsb. Full-line discount storesc.
Should Tana, a young entrepreneur who is launching a new line of environmentally friendly (green) cosmetics, sell through a physical store, catalog, or Internet? Explain two key benefits of each
Why have so many brick-and-mortar retailers adopted an omnichannel strategy?
Provide examples of how P&G may work with Kroger to jointly plan and implement a retail strategy using the six Ps.
Some argue that retailers can be eliminated from the distribution channel because they only add costs to the final product without creating any value-added services in the process. Do you agree with
Imagine that you designed a high-end line of clothing and accessories. Which factors should you consider when choosing retail partners? What type of retailer would you choose as a partner? Why?
Select a familiar omnichannel retailer. Evaluate its website in terms of how well it provides value to its customers. Do you believe that offering multiple selling channels to customers enhances
How do JCrew.com and Gap.com provide value to their customers beyond the physical products they sell? Why would a customer purchase online instead of going to the store? Under what circumstances
What challenges do retailers face when marketing their products through multiple channels?
What are the advantages of traditional stores versus Internet-only stores?
What are the components of a retail strategy?
Are organizations that provide services to consumers retailers?
What strategies distinguish the different types of general merchandise retailers?
What strategies distinguish the different types of food retailers?
What are the differences among intensive, exclusive, and selective levels of distribution intensity?
What issues should manufacturers consider when choosing retail partners?
Identify the benefits and challenges of omnichannel retailing.
Describe the components of a retail strategy.
Describe the various types of retailers.
List the three levels of distribution intensity.
Outline the considerations associated with choosing retail partners.
Discuss the four factors manufacturers should consider as they develop their strategies for working with retailers.
How has the company positioned its brand? How does it go about communicating its position? FROM THE COUNTERCULTURE TO THE RUNWAY: HOW DID BIRKENSTOCKS BECOME FASHIONABLE?Hippies wear them. Rebels,
Review the different product categories in each of the company’s product lines. Which has the greatest depth?Which has the least? FROM THE COUNTERCULTURE TO THE RUNWAY: HOW DID BIRKENSTOCKS BECOME
Describe its product line breadth. FROM THE COUNTERCULTURE TO THE RUNWAY: HOW DID BIRKENSTOCKS BECOME FASHIONABLE?Hippies wear them. Rebels, dropouts from conventional consumerism, flower
Visit the company website (www.birkenstockusa.com/) and identify and describe the different product lines that it markets. FROM THE COUNTERCULTURE TO THE RUNWAY: HOW DID BIRKENSTOCKS BECOME
Which of the following is a subjective measure of brand equity?a. Brand nameb. Brand awarenessc. Brand qualityd. Perceived valuee. All of these are subjective measures.
All of the following are elements of a product excepta. Brand name.b. Quality levels.c. Packaging.d. Warranties.e. All of these are elements of a product.
You are the brand manager for a firm that makes herbs, spices, and other food additives. You have had complaints from some of your retail outlets that they are finding empty bottles of pure vanilla
Consumers have become increasingly aware of the amount of packaging that is used for certain products and the possible environmental impact of disposing of packaging materials into the natural
Target owns several private-label brands in different categories, including Mossimo and Xhilaration clothing, Threshold home furniture and decor, and Archer Farms food. Creating all of these brands
Identify a specific brand that has developed a high level of brand equity. What specific aspects of that brand establish its brand equity?
Suppose you are the coffee buyer for Kroger’s. There is a strong corporate initiative to increase store-label merchandise. Discuss the advantages and disadvantages of offering private-label coffee.
L.L.Bean has a 100 percent 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
Visit the Sephora website (www.sephora.com). Explore the Sephora Collection, which is their private-label brand. How does Sephora position this brand in the market vis-à-vis the national brands?
What objectives do product labels fulfill?
Why do firms change packaging?
What is brand repositioning?
What is the difference between brand extension and line extension?
What is co-branding?
What are the differences between manufacturer and private-label brands?
What are the components of brand equity?
How do brands create value for the customer and the firm?
Why change product line depth?
Why change product mix breadth?
What is the difference between product mix breadth and product line depth?
Indicate the advantages of a product’s packaging and labeling strategy
Distinguish between brand extension and line extension.
Determine the various types of branding strategies used by firms.
Explain the various components of brand equity.
Identify the advantages that brands provide firms and consumers.
Explain the difference between a product mix’s breadth and a product line’s depth.
Identify the types of consumer products.
Which sales promotion tactics could Mastercard employ? MAKING MASTERCARD PRICELESS How do you pay for books, clothing, groceries, or travel? For many consumers, the answer is Mastercard, which has

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