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business
essentials of marketing

Questions and Answers of Essentials Of Marketing

Find a Facebook page for a brand or company. Evaluate that page. What do you think are the promotion objectives?Does the Facebook page foster engagement (are many followers posting messages directed
Find a web page that you think does a particularly good job of communicating to the target audience. Would it communicate well to an audience in another country (assume it is translated into the
Briefly discuss some of the pros and cons of earned and owned media for a producer of golf clubs and for a dance studio.AppendixLO1
For each of the following products, indicate how search, pass-along, and experience would (or would not) operate for customers seeking information: (a) a brand of shampoo,(b) a pair of jeans, (c) a
Which of the following products are good candidates for user-generated content: (a) men’s underwear, (b) women’s fashion jeans, (c) a brand of salsa, (d) lumber used in home
Describe the general (earned, owned, and paid) and specific(see examples in this chapter) type of media that might be most suitable for promoting (a) a neighborhood sandwich shop, (b) toothpaste, (c)
Review the HubSpot case study that opens the chapter.Suggest how the company might utilize some other form of earned, owned, or social media in its promotion blend.AppendixLO1
Review the HubSpot case study that opens the chapter.From this case, identify examples of different key terms and concepts covered in the chapter. For example, the case mentions customers
The case that opens this chapter features Nike. Review this case and pull out as many examples as you can of different key terms and concepts. For example, Nike demonstrated social responsibility
Review the Nike case study that opens this chapter. In what ways does Nike appear to follow the marketing concept?Suggest three other activities Nike could do to follow the marketing
If a producer creates a revolutionary new product and consumers can learn about it and purchase it on a website, is any additional marketing effort really necessary? Explain your thinking.AppendixLO1
Distinguish between the micro and macro views of marketing.Then explain how they are interrelated, if they are.AppendixLO1
Refer to Exhibit 1–1 and give an example of a purchase you made recently that involved separation of information and separation in time between you and the producer. Briefly explain how these
Define the functions of marketing in your own words.Using an example, explain how they can be shifted and shared.AppendixLO1
Distinguish between how economic decisions are made in a command economy and how they are made in a marketdirected economy.AppendixLO1
Explain why a market-directed macro-marketing system encourages innovation. Give an example.AppendixLO1
Define the marketing concept in your own words, and then explain why the notion of profit is usually included in this definition.AppendixLO1
Define the marketing concept in your own words, and then suggest how acceptance of this concept might affect the organization and operation of your college.AppendixLO1
Give examples of some of the benefits and costs that might contribute to the customer value of each of the following products: (a) a wristwatch, (b) a weight-loss diet supplement, (c) a cruise on a
What are examples of the benefits that you can provide to a prospective employer in your field? What are examples of the costs that employer would incur if it hired you? How do you think you can
Give an example of a recent purchase you made where the purchase wasn’t just a single transaction but rather part of an ongoing relationship with the seller. Discuss what the seller has done (or
Discuss how the micro–macro dilemma relates to each of the following products: high-powered engines in cars, nuclear power, bank credit cards, and pesticides that improve farm production.AppendixLO1
Think of three companies that you feel make the world a better place. Explain what they do to make the world a better place. Then explain whether you think this makes them more profitable or
Review the Cirque du Soleil case study that opens the chapter. From this case, identify examples of different key terms and concepts covered in the chapter. For example, both the shows and DVDs are
Review the Cirque du Soleil case study that opens the chapter. Offer an example of each of the four basic types of opportunities (see Exhibit 2–10 and related discussion)that Cirque du Soleil could
Distinguish clearly between a marketing strategy and a marketing mix. Use an example.AppendixLO1
Distinguish clearly between mass marketing and target marketing. Use an example.AppendixLO1
Why is the target market placed in the center of the Four Ps in the text diagram of a marketing strategy (Exhibit 2–4)?Explain using a specific example from your own experience.AppendixLO1
If a company sells its products only from a website, which is accessible over the Internet to customers from all over the world, does it still need to worry about having a specific target market?
Explain, in your own words, what each of the Four Ps involves.AppendixLO1
Evaluate the statement “A marketing strategy sets the details of implementation.”AppendixLO1
Distinguish between strategy decisions and operational decisions, illustrating for a local retailer.AppendixLO1
In your own words, explain what customer equity means and why it is important.AppendixLO1
Consider two vastly different companies—one sells oral health care products (toothbrushes, toothpaste, and mouthwash), the other is a ridesharing service (like Lyft or Uber). For each of these
Distinguish between a strategy, a marketing plan, and a marketing program, illustrating for a local retailer.AppendixLO1
Outline a marketing strategy for each of the following new products: (a) a radically new design for a toothbrush, (b) a new fishing reel, (c) a new resort hotel on a beach in Mexico, and (d) a new
Provide a specific illustration of why marketing strategy planning is important for all businesspeople, not just for those in the marketing department.AppendixLO1
Research has shown that only about three out of every four customers are, on average, satisfied by a firm’s marketing programs. Give an example of a purchase you made where you were not satisfied
Distinguish between an attractive opportunity and a breakthrough opportunity. Give an example.AppendixLO1
Explain how new opportunities may be discovered by defining a firm’s markets more precisely. Illustrate with a situation where you feel there is an opportunity—namely, an unsatisfied market
In your own words, explain why the book suggests that you should think of marketing strategy planning as a narrowingdown process.AppendixLO1
Explain the major differences among the four basic types of growth opportunities discussed in the text and cite examples for two of these types of opportunities.AppendixLO1
Explain why a firm may want to pursue a market penetration opportunity before pursuing one involving product development or diversification.AppendixLO1
In your own words, explain several reasons why a marketing manager should consider international markets when evaluating possible opportunities.AppendixLO1
Give an example of a foreign-made product (other than an automobile) that you personally have purchased. Give some reasons why you purchased that product. Do you think that there was a good
Review the Amazon case study that opens the chapter.From this case, identify examples of different key terms and concepts covered in the chapter. For example, Amazon’s mission statement is noted
Review the Amazon case study that opens this chapter.Create a table like the one below—and fill in the empty cells. If necessary look back at Chapter 2 to remind yourself of the definitions of
Do you think it makes sense for a firm to base its mission statement on the type of product it produces? For example, would it be good for a division that produces electric motors to have as its
Explain how a firm’s resources may limit its search for opportunities. Cite a specific example for a specific resource.AppendixLO1
In your own words, explain how a marketing manager might use a competitor analysis to avoid situations that involve head-on competition.AppendixLO1
Discuss the probable impact on your hometown if a major breakthrough in air transportation allowed foreign producers to ship into any U.S. market for about the same transportation cost that domestic
Identify three products without artificial intelligence (AI), that might add value by adding AI to their marketing mix.For each product, explain how AI could be utilized in the marketing mix and the
Will the elimination of trade barriers among countries in Europe eliminate the need to consider submarkets of European consumers? Why or why not?AppendixLO1
What and whom is the U.S. government attempting to protect in its effort to preserve and regulate competition?AppendixLO1
Name three specific examples of firms that developed a marketing mix to appeal to customers seeking to purchase more sustainable products.AppendixLO1
Drawing on data in Exhibit 3–3, do you think that Romania would be an attractive market for a firm that produces home appliances? What about Finland? Discuss your reasons.AppendixLO1
Discuss the value of gross domestic product and gross national income per capita as measures of market potential in international consumer markets. Refer to specific data in your answer.AppendixLO1
Discuss how the worldwide trend toward urbanization is affecting opportunities for international marketing.AppendixLO1
Explain the product-market screening criteria that can be used to evaluate opportunities.AppendixLO1
Explain General Electric’s strategic planning grid approach to evaluating opportunities.AppendixLO1
Review the LEGO case study that opens the chapter. From this case, identify examples of different key terms and concepts covered in the chapter. For example, LEGO operates in the “active play
Review the LEGO case study that opens this chapter. Applying concepts from the chapter, how else could LEGO segment the market? Use at least two segmenting dimensions not discussed in the current
Distinguish between a generic market and a productmarket.Illustrate your answer with an example.AppendixLO1
Explain what market segmentation is.AppendixLO1
List the types of potential segmenting dimensions, and explain which you would try to apply first, second, and third in a particular situation. If the nature of the situation would affect your
Explain why segmentation efforts based on attempts to divide the mass market using a few demographic dimensions may be very disappointing.AppendixLO1
Illustrate the concept that segmenting is an aggregating process by referring to the admissions policies of your own college and a nearby college or university.AppendixLO1
Review the types of segmenting dimensions listed in Exhibits 4–8 and 4–9, and select the ones you think should be combined to fully explain the market segment you personally would be in if you
Identify the determining dimension or dimensions that explain why you bought the specific brand you did in your most recent purchase of (a) a soft drink, (b) shampoo, (c) a shirt or blouse, and (d) a
Marketing for a better world (#M4BW) may include efforts by some firms to offer value to underserved market segments.Give examples of two companies that are demonstrating this.AppendixLO1
Consider the market for off-campus apartments in your city. Identify some submarkets that have different needs and determining dimensions. Then evaluate how well the needs in these market segments
Explain how positioning analysis can help a marketing manager identify target market opportunities.AppendixLO1
Write a personal positioning statement using the format described for a positioning statement. In this case, replace“our target market” with an industry or type of job that you want to do;
Review the Apple case study that opens the chapter. From this case, identify examples of different key terms and concepts covered in the chapter. For example, on-the-spot demos of the iPod can be
Review the Apple case study that opens this chapter. Applying concepts from the chapter, what else could Apple do to enhance the launch and subsequent sales of Apple Music? Offer some specific
In your own words, explain economic needs and how they relate to the economic-buyer model of consumer behavior.Give an example of a purchase you recently made that is consistent with the
Explain what is meant by a hierarchy of needs and provide examples of one or more products that enable you to satisfy each of the four levels of need.AppendixLO1
Cut out or photocopy two recent advertisements: one fullpage color ad from a magazine and one online ad from a website. In each case, indicate to which needs the ads appeal.AppendixLO1
Explain how an understanding of consumers’ learning processes might affect marketing strategy planning. Give an example.AppendixLO1
Briefly describe your own beliefs about the potential value of an all-electric car, your attitude toward them, and your intention about buying one the next time you need to buy a car.AppendixLO1
Give an example of a recent purchase experience in which you were dissatisfied because a firm’s marketing mix did not meet your expectations. Indicate how the purchase fell short of your
Explain psychographics and lifestyle analysis. Explain how they might be useful for planning marketing strategies to reach college students, as opposed to average consumers.AppendixLO1
Illustrate how the reference group concept may apply in practice by explaining how you personally are influenced by some reference group for some product. What are the implications of such behavior
Give two examples of recent purchases where the specific purchase situation influenced your purchase decision.Briefly explain how your decision was affected.AppendixLO1
Give an example of a recent purchase in which you used extensive problem solving. What sources of information did you use in making the decision?AppendixLO1
Describe a purchase situation where you, a friend, or a family member made a purchase choice that considered the implications of your choice on others (society, the environment, or a friend or family
Interview a friend or family member about two recent purchase decisions. One decision should be an important purchase, perhaps the choice of an automobile, a place to live, or a college. The second
Review the John Deere case study that opens the chapter.From this case, identify examples of different key terms and concepts covered in the chapter. For example, when MetoKote built a paint plant
Review the John Deere case study that opens this chapter.Applying concepts from the chapter, what else could be done to build a more effective buyer–supplier relationship with MetoKote? How should
Compare and contrast the buying behavior of final consumers and organizational buyers. In what ways are they most similar and in what ways are they most different?AppendixLO1
Briefly discuss why a marketing manager should think about who is likely to be involved in the buying center for QUESTIONS AND PROBLEMS a particular purchase. Is the buying center idea useful in
If a nonprofit hospital were planning to buy expensive MRI scanning equipment (to detect tumors), who might be involved in the buying center? Explain your answer and describe the types of influence
Describe the situations that would lead to the use of the three different buying processes for a particular product—a manufacturer of bicycles that will be purchasing handlebars for a mountain
How likely is it that each of the following would use competitive bids: (a) a small town that needs a road resurfaced,(b) a scouting organization that needs a printer to print its scouting handbook,
Discuss the advantages and disadvantages of just-in-time supply relationships from an organizational buyer’s point of view. Are the advantages and disadvantages merely reversed from the seller’s
Explain why a customer might be willing to work more cooperatively with a small number of suppliers rather than pitting suppliers in a competition against one another.Give an example that illustrates
Would a tool manufacturer need a different marketing strategy for a big retail chain such as Home Depot than for a single hardware store run by its owner? Discuss your answer.AppendixLO1
Discuss the importance of target marketing when analyzing organizational markets. How easy is it to isolate homogeneous market segments in these markets?AppendixLO1
Explain how NAICS codes might be helpful in evaluating and understanding business markets. Give an example.AppendixLO1
Considering the nature of retail buying, outline the basic ingredients of promotion to retail buyers. Does it make any difference what kinds of products are involved? Are any other factors

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