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business
principles of marketing

Questions and Answers of Principles Of Marketing

Should ethical sourcing be the default standard for all businesses? (AACSB: Written and Oral Communication;Reflective Thinking; Ethical Understanding and Reasoning)
Write a brief report on a business of your choice that supports ethical sourcing. What criteria are being used to establish the ethical standards under which they operate? (AACSB: Written and Oral
Transportation, inventory, warehousing, and information management activities can interact in inverse ways.What trade-offs will Petco have to make in offering its customers same-day delivery? (AACSB:
Is it wise for Petco to expand its same-day delivery offerings to additional customers through Shipt? Why or why not? (AACSB: Written and Oral Communication;Reflective Thinking; Information
Research how vendor-managed inventory (VMI) compares to a traditional inventory management system.Given their benefits, why wouldn’t all suppliers and retailers establish VMI systems? (AACSB:
It has been estimated that the top 100 third-party logistics companies worldwide control around a third of the estimated $270 billion outsourced logistics. Market growth is between 6 and 8 percent.
Explain how channel members help candy maker Mars, Inc. deliver value to consumers. Could Mars take on any of these distribution functions itself? (AACSB: Written and Oral Communication; Information
Identify three reasons why companies use third-party logistics (3PL) providers. (AACSB: Written and Oral Communication; Reflective Thinking)
Define integrated logistics management and discuss its importance in a firm achieving its corporate goals. (AACSB:Written and Oral Communication; Reflective Thinking)
Define disintermediation and describe how it affects the nature and design of marketing channels. (AACSB:Written and Oral Communication; Reflective Thinking)
How would you distinguish between exclusive and selective distribution? (AACSB: Communication; Reflective Thinking)
Why is it often necessary and advantageous to have intermediaries in a marketing or distribution channel?(AACSB: Communication; Reflective Thinking)
Describe a value delivery network. How does it differ from a supply chain? Explain. (AACSB: Written and Oral Communication; Reflective Thinking)? P-968
Discuss the nature and importance of marketing logistics and integrated supply chain management. See: Marketing Logistics and Supply Chain Management (pp 362–369)
Explain how companies select, motivate, and evaluate channel members. See: Channel Management Decisions (pp 359–362)OBJECTIVE
Identify the major channel alternatives open to a company. See: Channel Design Decisions(pp 355–359)OBJECTIVE
Discuss how channel members interact and how they organize to perform the work of the channel. See: Channel Behavior and Organization (pp 348–355)OBJECTIVE
Explain why companies use marketing channels and discuss the functions these channels perform. See: Supply Chains and the Value Delivery Network (pp 344–348)OBJECTIVE
Based on principles of price changes, make some predictions for the mattress industry.OBJECTIVE
Which new product pricing strategy does Casper employ? Why does it work?? P-968
Explain Casper’s product offering in terms of customer value.? P-968
What absolute change and percentage change in sales does this represent? (AACSB: Communication; Analytic Reasoning)
Assuming a contribution margin of 25 percent and sales of $4 billion, with a 20 percent price increase, by how much can sales decrease before profitability (total contribution) drops below its
One of your coworkers makes the argument that the higher price on the pink helmet makes sense because it is an example of value-based pricing. Her argument is that a consumer who does not want to pay
Should the firm charge $20 more for the pink helmet? Why or why not? (AACSB: Written and Oral Communication; Ethical Understanding and Reasoning;Reflective Thinking)
Using www.krazycouponlady.com, click on Stores, Coupons, and Deals on the navigation bar and make a list of the featured products. Identify the pricing strategy used by the retailer. (AACSB: Written
Visit www.krazycouponlady.com and browse a deal you would consider purchasing. After identifying the deal, conduct an online price comparison at various retailers to determine the range of prices you
Josue’s firm is deciding if it should sell a stripped-down version of its stylized, solar-powered battery charger to consumers at the bottom of the pyramid in India. What factors should Josue
A company that delivers subscription boxes of children’s clothes to customers all over the United States is considering different geographical pricing strategies. If the company wants to penetrate
Alesya sells her high-end laptop bags and coordinating wallets online through her own website and in high-end retailers in Charleston, South Carolina. She encourages her mailing list customers to
Discuss the major public policy issues in pricing practices within a given channel level and across channel levels.(AACSB: Communication)
Why would a company choose to introduce a low-price, fighter brand? Provide an example. What should the company be wary of when it launches a low-price fighter brand? (AACSB: Written and Oral
Discuss some situations that may prompt companies to initiate price cuts. (AACSB: Communication)
What is promotional pricing, and how is it used by sellers? Give an example. (AACSB: Communication)
Why might the strategy for setting a product’s price need to be changed when a product is part of a product mix? What are the five product mix pricing strategies?Provide an example for each.
Discuss the two new product pricing strategies and the conditions that must be met for companies to successfully launch new products under each of these strategies.(AACSB: Written and Oral
Discuss the major public policy concerns and key pieces of legislation that affect pricing decisions. See: Public Policy and Pricing (pp 333–336)
Discuss the key issues related to initiating and responding to price changes. See: Price Changes (pp 330–333)OBJECTIVE
Discuss how companies adjust their prices to take into account different types of customers and situations. See: Price Adjustment Strategies (pp 321–330)OBJECTIVE
Explain how companies find a set of prices that maximizes the profits from the total product mix. See: Product Mix Pricing Strategies (pp 319–321)OBJECTIVE
Describe the major strategies for pricing new products. See: New Product Pricing Strategies(pp 318–319)OBJECTIVE
What can Gillette do to improve its position in the market?? P-968 OBJECTIVE
Based on those same concepts of value-based pricing, explain how Gillette’s pricing strategy stopped working.? P-968
Historically, did Gillette employ good-value pricing or value-added pricing? Explain.
Based on the concept of customer value–based pricing, explain Gillette’s rise to market dominance.
How many additional drivers must Rock Bottom sell at the lower margin to break even on the increase in advertising promotion? Assume the $10,000 spent on banner ads is the only fixed cost associated
Assuming Rock Bottom’s cost of goods sold (COGS) is 60 percent, calculate Rock Bottom’s margin per driver before the $50 off promotional price and after the promotional price. What effect does
In your opinion, is it ethical for consumers to skiplag/use hidden cities to save money? Why or why not?(AACSB: Communication; Ethical Reasoning)
Why would an airline charge less for a longer flight that passes through the destination city than for a shorter flight to the destination city? (AACSB: Communication;Ethical Reasoning)
Inflated ticket prices can reflect very badly on the sport, event, or celebrity, even though the activities of resellers have nothing to do with them. Discuss how resellers could be cut out of the
Is there a ticket resale market active in your own country? How does ticketing work? Are tickets bought directly or via agents and brokers? Write a report on the ticketing industry in your country.
Your company has developed a new weight-loss breakfast shake that has proven to be successful in the test market phase. Users have experienced an average weight loss of two pounds per week. You hold
Economic conditions can have a strong impact on a firm’s pricing strategies. In the aftermath of the recent Great Recession, many companies adjusted prices by cutting prices or offering discounts.
Congratulations! You just won your state lottery and will be receiving a check for $1 million. You have always wanted to own your own business and have noticed the increase in the number of food
How is target costing different from other pricing strategies?
List and briefly explain what internal factors companies must consider for pricing decisions. How important are these, in your opinion?? P-968
Briefly explain the four types of markets companies must consider for pricing decisions. Are these markets relevant for all types of products?? P-968
Two different types of costs form the total cost in setting a product price in cost-based pricing. Explain what these two costs are and which one is the most important in determining price.? P-968
What is cost-based pricing? How do companies use fixed and variable costs in cost-based pricing models?(AACSB: Written and Oral Communication)? P-968
Why is finding and implementing the right pricing strategy critical to a company’s success? (AACSB: Written and Oral Communication)? P-968
Identify and define the other important external and internal factors affecting a firm’s pricing decisions. See: Other Internal and External Considerations Affecting Price Decisions (pp 306–310)?
Define price, identify the three major pricing strategies, and discuss the importance of understanding customer-value perceptions, company costs, and competitor strategies when setting prices.See:
Answer the question “What is price?” and discuss the importance of pricing in today’s fast-changing environment. See: What Is Price? (pp 296–297)OBJECTIVE
Give examples of publicly responsible decisions that Toyota has recently been involved in. What is their impact on the society?? P-968 OBJECTIVE
Explain the strategies during each stage of the product life cycle for the Toyota Prius.? P-968
Describe the Toyota Creative Idea and Suggestion System and give examples of benefits that such a system can bring.? P-968
Explain how ideas at Toyota are gathered and managed.? P-968
Provide a short explanation for each of the five steps of the product development strategy that Toyota follows.? P-968
What other factors must a therapist consider before adding this in-home service to his or her in-office service? (AACSB: Communication; Reflective Thinking)
Refer to Increase Distribution Coverage in Appendix 2: Marketing by the Numbers to answer the following question. Assume that adding this mobile service will increase fixed costs by $32,500 and that
Would you use such a product? Why or why not?Support your answer. (AACSB: Written and Oral Communication; Reflective Thinking)
Discuss the ethical issues surrounding the testing and introduction of self-driving vehicles. Is there sufficient research to support the claims and safety of these new products? (AACSB: Written and
Visit www.pcmag.com/roundup/341251/the-best-robot-vacuums. How do the reviews of iRobot vacuums compare to competitive robot vacuums? Does the information from the review match the value proposition
Visit a social media channel (Twitter, Instagram, or Facebook) and search for the hashtag #iRobotLove.What do the user posts suggest about iRobot’s ability to solve major customer problems? How
Goat yoga is yoga practiced in the presence of live goats.Goatyoga.net describes it as “animal-assisted therapy in a natural setting with an unexpectedly smart, social, and profoundly cuddly
In small groups, research the Owlet Smart Sock. Where is this product in the new product life cycle? After examining the company website, assess what the company does well. What challenges will it
After it admitted that it had rigged its diesel engine cars to cheat on emissions tests, Volkswagen agreed to pay $4 billion in fines, buy back 600,000 diesel vehicles from American consumers, and
What special challenges do international product and services marketers face? (AACSB: Written and Oral Communication)? P-968
Distinguish between a market modifying strategy and a marketing mix modifying strategy in the product life cycle process. (AACSB: Communication)? P-968
Why might a business adopt a customer-centered approach to new product development? (AACSB:Communication)? P-968
What actions are performed in the test marketing step of the new product development process? How does a business carry out this step? (AACSB: Communication)? P-968
Why do so many new products fail? (AACSB: Written and Oral Communication)? P-968
Explain how firms obtain new products and why it is an important process for companies and customers. (AACSB:Written and Oral Communication; Reflective Thinking)? P-968
Would you buy such a car (definitely, probably, probably not, definitely not)?? P-968
Who would be involved in your decision to buy such a car? Who would drive it?? P-968
What would be a reasonable price to charge for the car?? P-968
For what uses would you prefer an all-electric car to a conventional car?? P-968
What improvements in the car’s features would you suggest?? P-968
What are its advantages compared with a hybrid gas-electric car? P-968
Discuss two additional product issues: socially responsible product decisions and international product and services marketing. See: Additional Product and Service Considerations (pp 288–289)
Describe the stages of the product life cycle and how marketing strategies change during a product’s life cycle. See: Product Life-Cycle Strategies (pp 281–287)OBJECTIVE
List and define the steps in the new product development process and the major considerations in managing this process. See: The New Product Development Process (pp 271–281)OBJECTIVE
Explain how companies find and develop new product ideas. See: New Product Development Strategy (pp 270–271)OBJECTIVE
Explain the importance of information in gaining insights about the marketplace and customers.See: Marketing Information and Customer Insights ( pp 118–120 )OBJECTIVE
Define the marketing information system and discuss its parts. See: Assessing Information Needs and Developing Data ( pp 120–123 )OBJECTIVE
Outline the role of marketing research and the steps in the marketing research process. See:Marketing Research ( pp 123–136 )OBJECTIVE
Explain how companies analyze and use marketing information. See: Analyzing and Using Marketing Information ( pp 136–140 )OBJECTIVE
Discuss the special issues some marketing researchers face, including public policy and ethics issues. See: Other Marketing Information Considerations ( pp 140–144 )
What three questions need to be answered when a researcher designs the sample? When would a marketing researcher use a nonprobability sample? What is the weakness of nonprobability samples relative
What is behavioral targeting? Provide an example of behavioral targeting. How are firms responding to consumers and public advocates’ contention that it is a means of stalking consumers? (AACSB:

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