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business
principles of marketing

Questions and Answers of Principles Of Marketing

The marketing research process has several very distinct and important stages that need to be followed. In your opinion, which is the most important? Justify your view on this. (AACSB: Communication;
In a small group, identify the steps a business organization might need to take to carry out market research in an overseas market. Discuss whether the business would be best advised to have someone
Make a careful list of all the websites, forums, social networks, and other places you have visited this week.What data have you left that could have value to a business? (AACSB: Communication; Use
Monetizing this data is the key to revealing its true value. Should marketers have access to such information? Discuss how you would use data trails left by individuals on the Internet if you ran a
If you used an app like WeChat, what information would you be comfortable having tied to your identity? What information would you prefer not be tracked? What is the trade-off between convenience and
Is it ethical for marketers to gather massive amounts of data about everything a consumer does and sell advertising using the information. What types of protections do you value as a consumer?
Go to http://www.surveysystem.com/sscalc.htm to determine the appropriate sample size for a population in your country. Briefly explain what is meant by confidence interval and confidence level.
What sample sizes are necessary to cover the population of the whole region in which you live with a confidence interval of 5 percent and a 95-percent confidence level? Explain the effect population
What opportunities are created for Bayer from the big data coming from the four segments it operates in and from the Monsanto merger? p-635
How does Bayer gather relevant marketing information to keep up with customer demands in the four segments? p-635
How does Bayer manage the information gathered from the various stakeholders mentioned in this case? p-635
How are the steps of the marketing research process followed at Bayer? p-635
How does Bayer safeguard customer privacy in its marketing research? p-635 OBJECTIVE
Define the consumer market and construct a simple model of consumer buyer behavior.See: Model of Consumer Behavior (pp 152–153)OBJECTIVE
Name the four major factors that influence consumer buyer behavior. See: Characteristics Affecting Consumer Behavior (pp 153–167)OBJECTIVE
List and define the major types of buying decision behavior and the stages in the buyer decision process. See: Buying Decision Behavior and the Buyer Decision Process (pp 167–172)OBJECTIVE
Describe the adoption and diffusion process for new products. See: The Buyer Decision Process for New Products (pp 172–174) p-635
What characteristics affect consumers’ purchase decisions? (AACSB: Written and Oral Communication;Reflective Thinking) p-635
What is a total market strategy, and why do marketers use this approach? Provide a recent example of a product or service that uses the total market strategy approach and discuss the components that
Name and briefly describe each of the four psychological factors that affect consumer behavior. (AACSB: Written and Oral communication, Reflective Thinking) p-635
What is the significance of complex consumer buying behavior and the level of consumer involvement to marketers? (AACSB: Communication; Reflective Thinking) p-635
How is need recognition triggered in the buyer decision making process? Provide examples of the two different types of triggers. (AACSB: Communication; Reflective Thinking) p-635
How might the marketing strategy for a market leader in a product category that is high in variety-seeking buying behavior(low consumer involvement, high perceived brand differences)differ from the
Late adopters are those who tend to be suspicious of new technology and new products. Generally, they fail to see the value of the new capabilities or they don’t feel they can engage with it. These
Your manager suggests you do everything in your power to limit customer complaining. Make an argument about why your firm should encourage consumers to complain. (AACSB:Written and Oral
The grocery store shopping experience often falls short of customer expectations or desires due in part to limited assortments in trending product categories and the absence of pleasant interactions
Have you encountered this type of blog posting before?Was it clear that the post was an advertisement? How does the fact that the blogger was paid for an opinion change your view? Write a brief
Are there clear rules in your country concerning blogvertorials, such as the U.S. Federal Trade Commission’s disclosure rules on using social media for the promotion of products and services? If
What are the likely buying factors for customers making purchases from a business like this? (AACSB:Communication; Reflective Thinking) p-635
Is it ethical to charge a premium price for ethically sourced products? (AACSB: Communication; Ethical Reasoning) p-635
Calculate the scores for 24/7 Fitness and Peak Fitness.Which fitness center would this consumer likely choose? (AACSB: Communication; Analytic Reasoning) p-635
Which brand is this consumer least likely to select?Discuss two ways the marketer of this alternative can enhance consumer likelihood of joining its fitness club.(AACSB: Communication; Reflective
Of the factors that influence consumer behavior, which category or categories (cultural, social, personal, or psychological) best explain Kraft Heinz’s current situation? p-635
Choose the specific consumer behavior factor (for example, culture, family, occupation, attitudes) that most accounts for Kraft Heinz’s current situation. p-635
With respect for buying groceries, discuss the buyer decision process and how it has changed in recent years. p-635
Make recommendations for Kraft Heinz that you think will turn its situation around. p-635 OBJECTIVE
Define the business market and explain how business markets differ from consumer markets.See: Business Markets (pp 182–184)OBJECTIVE
Identify the major factors that influence business buyer behavior. See: Business Buyer Behavior(pp 184–189)OBJECTIVE
List and define the steps in the business buying decision process. See: The Business Buyer Decision Process (pp 189–191)OBJECTIVE
Discuss how online, mobile, and social media have changed business-to-business marketing.See: Engaging Business Buyers with Digital and Social Marketing (pp 192–193)OBJECTIVE
Compare the institutional and government markets and explain how institutional and government buyers make their buying decisions. See: Institutional and Government Markets (pp 193–197) p-635
How are business markets similar to consumer markets?How are they different? p-635
Briefly discuss a business buyer’s straight rebuy and modified rebuy strategies. What are the similarities and differences? When might it be beneficial to use one approach over the other? (AACSB:
What are systems or solutions selling? How can an organization be successful in this area of sales? What are customers looking for from suppliers? (AACSB: Communication; p-635 Reflective Thinking)
List the participants in the business buying process. What factors influence the buying decision? Discuss the major influences on business buyers. (AACSB: Written and Oral Communication; Reflective
Discuss the major influences on business buyers.(AACSB: Written and Oral Communication; Reflective Thinking) p-635
What are the benefits of business-to-businesse- procurement?(AACSB: Written and Oral Communication; Reflective Thinking) p-635
At various times, many governments have favored a procurement process that requires government buyers to choose domestic rather than foreign suppliers. This approach has also been used by some
Following a sales pitch, an individual at a company recognizes the need for one of the hybrid-electric airships like those you were selling in Exercise 6-8. What happens next in the buying process?
Discuss the advantages of e-procurement to both buyers and sellers. What are the disadvantages? (AACSB:Written and Oral Communication; Reflective Thinking) p-635
Research mobile procurement and discuss the roles in the buying center that are affected most by this technology. (AACSB: Written and Oral Communication;Reflective Thinking) p-635
Take a position: If you were Microsoft, would you pursue a government contract to adapt HoloLens, an augmented reality headset, for use by soldiers in the battlefield? Why or why not? (AACSB: Written
What other factors more generally associated with government contracts might Microsoft’s marketers want to keep in mind when bidding for a government contract?(AACSB: Written and Oral
If Edgybees realizes an overall contribution margin of 40 percent, as the company expands, by how much will sales have to increase to break even on each additional sales representative? (AACSB:
Compare and contrast the nature of the business market structure and demand relative to consumer market structure and demand for Shopify’s services. p-635
Discuss how a potential client for Shopify might go through the business buyer decision. p-635
How does the concept of the buying center apply to Shopify? p-635
How much of a threat does competition pose in Shopify’s future? p-635 OBJECTIVE
Define the major steps in designing a customer value–driven marketing strategy: market segmentation, targeting, differentiation, and positioning. See: Marketing Strategy (pp 204–205)OBJECTIVE
List and discuss the major bases for segmenting consumer and business markets. See: Market Segmentation (pp 205–213)OBJECTIVE
Explain how companies identify attractive market segments and choose a market-targeting strategy. See: Market Targeting (pp 213–220)OBJECTIVE
Discuss how companies differentiate and position their products for maximum competitive advantage. See: Differentiation and Positioning (pp 221–227)
How would you describe the key differences between differentiation and positioning? Do businesses use both techniques? (AACSB: Communication) p-635
How is demographic segmentation used in consumer markets? Provide an example where marketers have used demographic segmentation. (AACSB: Written and Oral Communication; Reflective Thinking) p-635
What is the value of intermarket segmentation for global businesses? (AACSB: Communication) p-635
Discuss the challenges marketers face with international market segmentation. (AACSB: Communication) p-635
Explain the differences between differentiated and undifferentiated marketing. Can a business effectively use both strategies? (AACSB: Communication; Reflective Thinking) p-635
The breakfast cereal market is highly competitive and marketers for the many varieties of cereal attempt to differentiate their brands to appeal to specific segments.Choose five different breakfast
Should the White Banana Beach Club sponsor Instagram influencers that have less than 500,000 followers to help position its offering? Should it sponsor Instagram influencers that have more than
How does using an Instagram influencer with more than 500,000 followers compare to a micro-marketing strategy? Which would you recommend to the White Banana Beach Club? Why? (AACSB: Written and Oral
Companies have long struggled to balance the need for profit with consumer value. How has Allegiant differentiated and positioned itself in the airline industry?How has this differentiation and
Give an example of another airline that positions itself in a way that differentiates it from Allegiant? Which airline would you rather fly? (AACSB: Written and Oral Communication; Reflective
There are 5,534 certified hospitals in the United States, and 95 percent have emergency departments.Assuming the price of the Lucid Robotic System is$50,000 and that hospitals with emergency
Consider the variables commonly used to segment markets. Which of these best represents how the makers of 5-Hour Energy segmented the market?
Which market targeting strategy is 5-Hour Energy following? Justify your answer.
Write a positioning statement for 5-Hour Energy. p-635
What potential challenges does 5-Hour Energy faces in the future? p-635 OBJECTIVE
Define product and describe the major classifications of products and services. See: What Is a Product? (pp 234–239)OBJECTIVE
Describe the decisions companies make regarding their individual products and services, product lines, and product mixes. See: Product and Service Decisions (pp 239–247)OBJECTIVE p-635
Identify the four characteristics that affect the marketing of services and the additional marketing considerations that services require. See: Services Marketing (pp 247–252)OBJECTIVE
Discuss branding strategy—the decisions companies make in building and managing their brands. See: Branding Strategy: Building Strong Brands (pp 252–261)
What is a product mix? How is the product mix organized? What decisions are made in the creation of this mix? (AACSB: Communication; Reflective Thinking)Discussion Questions
Explain the four key brand strategy options for a business.Provide an example of each. (AACSB: Communication;Reflective Thinking)
Explain the four choices a company has when developing brands and illustrate each with an example. (AACSB:Written and Oral Communication; Reflective Thinking)
A vehicle hire company wants to introduce a serviceprofit chain process linking their profits with employee and customer satisfaction. How would they go about doing this? What would you recommend to
Musical performer Rihanna recently launched her own makeup line called Fenty. If Fenty makeup does not succeed, how could it affect Rihanna as a person brand? (AACSB:Written and Oral Communication;
Is price discrimination reasonable and a viable approaching in the marketing of products and services?Explain why the approach might be contrary to customer value–driven strategies. (AACSB:
There are other forms of price discrimination that are routinely used by businesses. Identify the different types and comment on their impact on customer value–driven approaches. (AACSB:
Discuss how MINI has endured for 60 years as a brand, despite being owned by various companies.
Does MINI have high brand equity? Explain.
Over the years, has MINI been positioned based on attributes, benefits, or values? Explain.
Is BMW taking MINI in the right direction with its current branding strategy? Why or why not?
OBJECTIVE Define marketing and outline the steps in the marketing process. See: What Is Marketing?( pp 24–26 )OBJECTIVE
Explain the importance of understanding the marketplace and customers and identify the five core marketplace concepts. See: Understanding the Marketplace and Customer Needs ( pp 26–30 )OBJECTIVE
Identify the key elements of a customer value–driven marketing strategy and discuss the marketing management orientations that guide marketing strategy. See: Designing a Customer Value–Driven
Discuss customer relationship management and identify strategies for creating value for customers and capturing value from customers in return. See: Managing Customer Relationships and Capturing
Describe the major trends and forces that are changing the marketing landscape in this age of relationships. See: The Changing Marketing Landscape ( pp 42–49 )
What are the paths to profits under the marketing concept? (AASCB: Written and Oral Communication) P+96
What is marketing myopia? What are the short- and longterm implications for business in this situation? (AACSB:Communication; Reflective Thinking) P+96
Describe the five different competing marketing orientations that a business organization can adopt to drive its marketing strategy. (AACSB: Communication; Reflective Thinking)

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