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principles of marketing

Questions and Answers of Principles Of Marketing

How can Mastercard integrate the “Priceless” campaign into a public relations program? MAKING MASTERCARD PRICELESS How do you pay for books, clothing, groceries, or travel? For many consumers,
Given its various target markets, which media are most appropriate for each market? MAKING MASTERCARD PRICELESS How do you pay for books, clothing, groceries, or travel? For many consumers, the
Does the “Priceless” campaign use an informational or an emotional appeal? MAKING MASTERCARD PRICELESS How do you pay for books, clothing, groceries, or travel? For many consumers, the answer is
What is the primary objective of the “Priceless”campaign? MAKING MASTERCARD PRICELESS How do you pay for books, clothing, groceries, or travel? For many consumers, the answer is Mastercard, which
ExxonMobil uses a(n) _____ appeal when it explains technical aspects of its products, such as lithium ion batteries, hydrogen technology, biofuels, and CO2 capture technologies.a. candidb.
If Levi’s wants to get potential customers to stop buying jeans from Lee and Wrangler, it would use _____ advertising.a. informativeb. persuasivec. reminderd. pushe. pull
You are invited to your six-year-old niece’s birthday party and bring her the new superhero doll being advertised on television. She’s thrilled when she unwraps the gift but is in tears a short
The first step in developing an ad campaign is to identify the target audience. Why is this the starting point for effective advertising? What kind of information is used to identify target audiences?
Describe one way that marketers can use posttesting to measure the effectiveness of an advertising campaign.For which kind of product is this method most useful?Why is it challenging to track the
What are the objectives of the Volkswagen ad in the chapter opener? Does the ad have more than one objective? Explain your answer.
Social media, such as Instagram, are some of the newest tools that firms are using in public relations programs.Visit Red Bull’s Instagram account and browse through its recent posts. How is Red
Go to the website for the Children’s Advertising Review Unit (CARU), one of the major self-regulatory bodies for children’s advertising, at www.asrcreviews.org. Click on“CARU” and then
What factors should a firm consider when evaluating a sales promotion?
What are various forms of sales promotions?
What are the elements of a public relations toolkit?
Why do companies use public relations as part of their IMC strategy?
How can the effectiveness of advertising be evaluated?
What are the pros and cons of the different media types?
What is the difference between informational, persuasive, and reminder advertising?
What are the steps involved in planning an ad campaign?
Identify the various types of sales promotions.
Describe the elements of a public relations toolkit.
Identify agencies that regulate advertising.
Identify the various types of media.
Describe the different ways that advertisers appeal to consumers.
Identify three objectives of advertising.
Describe the steps in designing and executing an advertising campaign.
The objective of is to build sales, market share, and profits quickly by providing an incentive to purchase the product immediately.a. price liningb. price skimmingc. market penetration pricingd.
In terms of a pricing strategy, _______adds value by reducing consumers’ search costs, while consumers can spend less of their valuable time comparing prices, including sale prices, at different
You have been hired by a regional supermarket chain as the candy and snack buyer. Your shelves are dominated by national firms such as Wrigley’s and Nabisco. The chain imposes a substantial
Imagine you are the product manager for Neutrogena’s sun protection product line and your team developed a new type of sunscreen. Which two B2B pricing tactics would you use to promote it? Why?
Almost every time a new-to-the-world electronic device(MP3 player, flat-screen television, digital camera, gaming console, etc.) has been introduced, the firm’s marketers have employed a price
Visit the website for Rent the Runway, renttherunway.com. Navigate to dresses and sort the listings by highest to lowest price and lowest to highest price. What is the difference between how much you
Go to www.coupons.com. In which product categories does this website offer coupons? Choose a product from each category.How effective are coupons for selling these types of products? Why?Do any
What common pricing practices are considered to be illegal or unethical?
What are some B2B-oriented pricing tactics?
What are some consumer-oriented pricing tactics?
What pricing strategies should be considered when introducing a new product?
Explain the difference between EDLP and high/low pricing.
How can you use value-based methods for setting prices?
What are the three different considerations for setting prices?
List the pricing practices that are illegal or unethical.
Explain the difference between a price skimming and a market penetratio pricing strategy.
Describe the difference between an everyday low pricing (EDLP)strategy and a high/low strategy.
Identify three methods that firms use to set their prices.
Using the product life cycle, place the products discussed in this case into one of the four stages. Evaluate Mattel’s strategy for each of these products based on its current life cycle stage.
The diffusion of innovation stages includes all of the following groups excepta. Innovators.b. Laggards.c. Late adopters.d. Early majority.e. Early adopters.
Which of the following is not a reason that firms need to innovate?a. Changing customer needsb. Preventing declining salesc. Diversifying riskd. Responding to short product life cyclese. All of these
In which stage of the product life cycle is the iPhone? Was Apple’s marketing mix—its 4 Ps—consistent with the product’s stage when it released the iPhone X?
Seventh Generation’s products are plant-based and designed to minimize negative environmental impacts.Seventh Generation is considering launching a new infant skin care line. Describe two possible
Android Wear is a new category of wearable computing devices that link to Android smartphones. How quickly do you think these products will diffuse among the U.S.population? Describe the types of
The automotive industry is constantly adding new and different products and technologies to their cars—above as well as under the hood. Conduct an Internet or library database search and discuss
Visit Tesla’s website (www.tesla.com) and explore the range of products it produces. What do its product groups have in common? Which factors have influenced Tesla’s creation of its newest
Why might placement decisions for products or services into stages of the product life cycle become a self-fulfilling prophecy?
What are the key marketing characteristics of products or services at each stage of the product life cycle?
Identify different sources of new product ideas.
What are the steps in the new product development process?
What factors enhance the diffusion of a good or service?
What are the five groups on the diffusion of innovation curve?
What are the reasons firms innovate?
Explain the product life cycle.
Describe the various stages involved in developing a new product or service.
Which market do you believe will be more successful, Tesla in the United States or GM’s E100 in China? Defend your answer. THE RISE OF THE ELECTRIC CAR One of the most notable social trends
Discuss how specific environmental issues examined in this chapter impact the development and sale of electric cars. THE RISE OF THE ELECTRIC CAR One of the most notable social trends affecting
How does identifying trends in the marketplace help marketers’ strategic planning efforts?a. It informs about trends that may impact sales.b. It shows how the market is changing.c. It provides
Why is understanding the macroenvironmental forces that create the marketing environment critical for a firm?a. These forces influence consumer behavior.b. These forces are controllable by a firm.c.
A small shoe store stocks a line of handmade sandals from Spain. In determining the selling price, the owners must monitor the euro. Explain how the value of the euro impacts the selling price.
Examine the consumer protection legislation in Exhibit 5.6. Which law do you believe has had the biggest impact on society in general? Which has had the largest impact on you personally? Justify your
Digital storefronts such as Etsy allow small producers to have a presence in the online marketplace. What benefits do these online storefronts offer small producers? What benefits do they offer
Today, marketers cannot ignore consumers’ concerns about the environmental impact of the firm’s activities.What are some of the environmental concerns consumers have regarding marketing
How would your approach to buying a computer differ from your parents’ approach? What about buying an outfit to wear to a party? How can firms use their knowledge of different age or generational
Visit The Cool Hunter (www.thecoolhunter.net) and identify examples that would provide marketers insights regarding social trends.
What are some important social trends shaping consumer values and shopping behavior?
Differentiate between country culture and regional culture.
What are the six key macroenvironmental factors?
What are the components of the immediate environment?
Outline how customers, the company, competitors, corporate partners, and the physical environment affect marketing strategy.
Given its price strategy, why is it essential for Planet Fitness to continually attract new members? Do its highend pricing competitors face the same need? Why or why not? Planet Fitness: Pricing for
How does this benefit–sacrifice ratio give Planet Fitness a competitive advantage in its industry? Planet Fitness: Pricing for Success22 How does going completely against the grain of a typical
What benefits do customers receive in return for the sacrifice they make when buying a membership at Planet Fitness? Planet Fitness: Pricing for Success22 How does going completely against the grain
Standardized products and commodities such as grains or chemical products are characteristics of which competitive market form?a. Monopolyb. Oligopolyc. Pure competitiond. Competitive paritye.
As the Vice President of Marketing for her firm, Jana is considering implementing a company wide pricing policy that all products must achieve a target profit margin of 15 percent, so the firm can
Imagine that Microsoft has recently developed an innovative technology. Because no other firm has this technology, demand is somewhat inelastic, and therefore Microsoft has some leeway in setting its
Suppose you are in the market for a new Samsung 4K television. You see one advertised at a locally owned store for $300 less than it costs at Best Buy. The salesperson at the local store tells you
A soft drink manufacturer opened a new manufacturing plant in the Midwest. The total fixed costs are $100 million. It plans to sell the drinks to retailers for $6 for a package of ten 12-ounce cans.
The local newspaper ad for your pet grooming business isn’t helping much, so you decide to post your services on an auction site, where customers can bid for your services. What should the starting
Assume you have decided to buy an advertisement in the local newspaper to publicize your new pet grooming service. The cost of the ad is $1,000. You have decided to charge $40 for a dog grooming, and
One roommate believes the most important objective in setting prices for your new pet grooming business is to generate a large profit while keeping an eye on your competitors’ prices; the other
Prices can vary depending on many factors including the market and novelty. Etsy allows anyone to sell goods that they’ve made in its online marketplace. Go to www.etsy.com to learn more about
Several different pricing models can be found on the Internet. Each model appeals to different customer groups. Go to Ebay’s website (www.ebay.com) and try to buy this book. What pricing options
What are the four different types of competitive environments?
How does one calculate the break-even point in units?
What are the factors influencing price elasticity?
Identify the four types of company objectives
What are the five Cs of pricing?
Indicate the four types of price competitive levels.
Describe how to calculate a product’s break-even point
Explain price elasticity.
Explain the relationship between price and quantity sold.
List the four pricing orientations.

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