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business
principles of marketing

Questions and Answers of Principles Of Marketing

Does providing a good value mean selling at a low price?
HOW DOES MARKETING CREATE VALUE, AND HOW DO FIRMS BECOME MORE VALUE DRIVEN?
What are the various eras of marketing?
Who can perform marketing?
Marketing is about satisfying _______ and _______.
What is the definition of marketing?
The secret to success at Mall of America is continually creating “new experiences for our guests,” explains Jill Renslow, senior vice president of business development and marketing. “We want
Does your marketing plan involve using retailers? If the answer is “no,” read no further and do not include a retailing element in your plan. If the answer is “yes”:1 Use Figure 13–3 to
9 Comment on this statement: “The only distinction among merchant wholesalers and agents and brokers is that merchant wholesalers take title to the products they sell.”
8 The text discusses the development of online retailing in the United States. How does the development of this retailing form agree with the implications of the retail life cycle?
7 According to the wheel of retailing and the retail life cycle, what will happen to factory outlet stores?
6 Breadth and depth are two important components in distinguishing among types of retailers. Discuss the breadth and depth implications of the following retailers discussed in this chapter: (a)
5 Develop a chart to highlight the role of each of the four main elements of the retailing mix across the four stages of the retail life cycle.
4 How would you classify Walmart in terms of its position on the wheel of retailing versus that of an off-price retailer?
3 What are the similarities and differences between the product and retail life cycles?
2 In retail pricing, retailers often have a maintained markup. Explain how this maintained markup differs from original markup and why it is so important.
1 Discuss the impact of the growing number of dualincome households on (a) nonstore retailing and(b) the retail mix.
13-16. Under what circumstances do producers assume wholesaling functions?
13-15. What is the difference between merchant wholesalers and agents?
13-14. What is the “new science of retailing”?
13-13. Market share is usually fought out before the ________ stage of the retail life cycle.
13-12. Using the wheel of retailing, describe the characteristics of a new retail form that has just entered the market.
13-11. What is a popular approach to managing the assortment of merchandise in a store?
13-10. A huge shopping strip mall with multiple anchor stores is a(n)__________ center.
13-9. How does original markup differ from maintained markup?
13-8. Where are direct-selling retail sales growing? Why?
13-7. How are retailers increasing consumer interest and involvement in online retailing?
13-6. Successful catalog retailers often send _______________ catalogs to _______________ markets identified in their databases.
13-5. A shop for big men’s clothes carries pants in sizes 40 to 60. Would this be considered a broad or a deep product line?
13-4. What are some examples of new forms of self-service retailers?
13-3. Centralized decision making and purchasing are an advantage of _______________ ownership.
13-2. Two measures of the impact of retailing in the global economy are _______________ and ________________.
13-1. When Ralph Lauren makes shirts to a customer’s exact preferences, what utility is provided?
Describe the types of firms that perform wholesaling activities and their functions.
Explain changes in retailing with the wheel of retailing and the retail life-cycle concepts.
Specify the retailing mix actions used to implement a retailing strategy.
Describe the many methods of nonstore retailing.
Explain the alternative ways to classify retail outlets.
Identify retailers in terms of the utilities they provide.
In reaching global markets outside the United States(a) what are some criteria that Prince should use to select countries in which to market aggressively, (b) what three or four countries meet these
What might Prince do to gain distribution and sales in (a) mass merchandisers like Target and Walmart and (b) specialty tennis shops?
What promotional activities might Prince use to reach (a) recreational players and (b) junior players?
Because sales of Prince Sports in tennis-related products depends heavily on growth of the tennis industry, what marketing activities might it use in the United States to promote tennis playing?
In the 21st century what trends in the environmental forces (social, economic, technological, competitive, and regulatory) (a) work for and (b) work against success for Prince Sports in the tennis
Use the information and the lost-horse forecasting technique (discussed in Chapter 8) to make a sales forecast (company forecast).
Locate these drinks on the perceptual map in Figure 9–11: (a) cappuccino, (b) beer, and (c) soy milk.
Suppose you want to increase revenues for your fastfood restaurant even further. Referring to Figure 9–10, what advertising actions might you take to increase revenues from (a) dormitory students,
You may disagree with the estimates of market size given for the rows in the market-product grid in Figure 9–9.Estimate the market size, and give a brief justification for these market segments:
In Figure 9–9, the dormitory market segment includes students living in college-owned residence halls, sororities, and fraternities. What market needs are common to these students that justify
What variables might be used to segment these industrial markets? (a) industrial sweepers, (b) photocopiers,(c) computerized production control systems, and (d) car rental agencies.
What variables might be used to segment these consumer markets? (a) lawn mowers, (b) frozen dinners,(c) dry breakfast cereals, and (d) soft drinks.
Explain how marketing managers position products in the marketplace.
Develop a market-product grid to identify a target market and recommend resulting marketing actions.
Recognize the bases used to segment consumer and organizational (business) markets.
Identify the five steps involved in segmenting and targeting markets.
Explain what market segmentation is and when to use it.
How are marketing and product synergies different in a market-product grid? Discuss.
What are the few criteria used to decide which segments to choose for targets and how?
What are the factors to estimated or measured for each of the cells in a market-product grid?
What is the difference between the demographic and behavioral bases of market segmentation. How can we axplain?
what is the process of segmenting and targeting markets is a bridge between which two marketing activities?
In the field of market segments and products, what are the three market segmentation strategies?
Market segmentation involves aggregating prospective buyers into groups that have two key characteristics. What are they and how to explain them?
Discuss how marketing managers positions products in the marketplace and how its is piossible?
Develop a market-product grid to verify a target market and recommend resulting marketing actions. discuss in details?
Recognize the bases used to segment consumer and organizational(business) markets. Discuss?
Verify the five steps involved in segmenting and targeting markets.
Discuss what market segmentation is and when to use it.
=+1 What problems did Liverpool face in attracting tourists? (Use the information in the case study, but you may also want to look up Liverpool, and rival cities, on the Internet.)
=+2 How could good marketing help to over-come these problems?
=+3 Write a short piece (approx. 200 words) on Liverpool for inclusion in a tourist guide.You should identify different aspects of the city that will appeal to different types of visitor.
=+4 How could relationship marketing help Liverpool to attract more visitors?
=+1 Using the information in the case, and Information from other sources e.g. Mintel or Keynote, do a PRESTCOM analysis for L'Oreal.
=+2 Now do a SWOT analysis.
=+3 If you were a marketing consultant, what advice would you give to a haircare company?
=+Your suggestions should be based on your analysis of the case and they should all be explained and justified.
=+1 Identify all the people involved In the two purchase decisions outlined in the case study: Duncan's Paris journeys and the couple's holiday plans. Comment on these people's roles and Information
=+2 What factors, internal and external, are likely to influence Duncan's decision about Paris? How?
=+3 Apply the decision-making framework to Annie and Duncan's holiday decision, pick-Ing relevant information out of the case and adding to it from your own knowledge(e.g. of information sources) if
=+What is likely to influence the outcome of each stage?
=+How can marketing techniques assist the couple in their decision-making?
=+1 What is this product really? Hint: Market-ing has to do with matching product offer-ings with customer/consumer demands.Review the benefits that Peter's product provides. Do not be happy with
=+2 For each use you have identified, what segmentation variables would you use to segment the market?
=+3 Consider Auto-Tecnic's situation and resources. What target market or target markets would you advise the company to focus on?
=+1 Start with some secondary research.Check the latest relevant market reports(e.g. Mintel and Keynote), specialist travel sites and the travel sections of newspa-pers. What trends might be relevant?
=+2 Check out the competition. What are the key differences between a b&b and a hotel?
=+What do they offer to guests?(Tip: you can use the Internet for this but do not just rely on a search engine such as Google - this will mainly be trying to sell you holidays, so think it through
=+3 Develop three research objectives for a small primary research project to help you to assess the b&b's potential.
=+4 Which primary research method(s) would you use and why?
=+1 What do you think the marketing professor meant when he said, "the aim of market-ing is to make selling superfluous'?
=+2 What stage in the product life cycle (PLC)are mousetraps in, in general?
=+ Why would a company think it a good idea to intro-duce a new mousetrap when they are generally in this stage of the PLC?
=+Would the new product be in the same stage or could such a product innovation be said to be in a different PLC stage? If so, which?
=+3 Consider the description of the mousetrap and draw a total product offering (TPO)diagram to highlight its main elements.Can the TPO be helpful in understanding why the SuperCat has been
=+Do you think the launch of the product is likely to be suc-cessful in Britain, Ireland and Scandinavia?
=+Are there specific elements in the TPO that you would highlight to which particular attention should be given to increase the chances of success in launching the prod- uct in new markets?
=+1 Identify and explain examples of the 7Ps at work in the case study.
=+2 What Is Rock Planet doing well? Where does it fall down?
=+3 Using the 7Ps to guide you, recommend three Improvements the restaurant can make. You should explain and justify your ideas.
=+1 Analyse Red Bull's marketing communi-cations strategy In terms of: objectives, target audience and brand positioning.

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