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essentials of marketing

Questions and Answers of Essentials Of Marketing

What does the degree of brand familiarity imply about previous and future promotion efforts? How does the degree of brand familiarity affect the Place and Price variables?
Explain family brands. Should Best Buy carry its own dealer brands to compete with some of the popular manufacturer brands it carries? Explain your reasons.
List five brand names and indicate what product is associated with the brand name. Evaluate the strengths and weaknesses of the brand name.
Is there any difference between a brand name and a trademark? If so, why is this difference important?
Explain how technology could be used to create value for the following: (a) hair salon, (b) quick oil change shop, (c) passenger car tires, and (d) toaster.
Explain some of the different aspects of the customer experience that could be managed to improve customer satisfaction if you were the marketing manager for(a) an airport branch of a rental car
Consumer services tend to be intangible, and goods tend to be tangible. Use an example to explain how the lack of a physical good in a pure service might affect efforts to promote the service.
What products are being offered by a shop that specializes in bicycles? By a travel agent? By a supermarket?By a new car dealer?
Discuss several ways in which physical goods are different from pure services. Give an example of a good and then an example of a service that illustrates each of the differences.
Review the Under Armour case study that opens this chapter. Using three different consumer product classes as an example, describe how a customer would think about and buy Under Armour products. Then
Review the Under Armour case study that opens this chapter. From this case, identify examples of different key terms and concepts covered in the chapter. Kohl’s Tek Gear is an example of a dealer
Discuss the concept that some information may be too expensive to obtain in relation to its value. Illustrate.
Explain how you might use different types of research(focus groups, observation, survey, and experiment) to forecast market reaction to a new kind of disposable baby diaper, which is to receive no
Would a firm want to subscribe to a subscription data service if the same data were going to be available to competitors? Discuss your reasoning.
Define response rate and discuss why a marketing manager might be concerned about the response rate achieved in a particular survey. Give an example.
Distinguish between qualitative and quantitative approaches to research—and give some of the key advantages and limitations of each approach.
Explain why a company might want to do focus group interviews rather than individual interviews with the same people.
With so much secondary information now available free or at low cost over the Internet, why would a firm ever want to spend the money to do primary research?
Distinguish between primary data and secondary data and illustrate your answer.
Explain the key characteristics of the scientific method and show why these are important to managers concerned with research.
Discuss some of the likely problems facing the marketing manager in a small firm who plans to search the Internet for information on competitors’ marketing plans.
Discuss how the output from a marketing information system (MIS) might differ from the output of a typical marketing research department.
In your own words, explain why a decision support system(DSS) can add to the value of a marketing information system. Give an example of how a decision support system might help.
Discuss the concept of a marketing information system and why it is important for marketing managers to be involved in planning the system.
Review the Dunkin’ case study that opens this chapter.Imagine you are in charge of Dunkin’s expansion into Russia. Identify five different types of research you would conduct before opening your
Review the Dunkin’ case study that opens the chapter.From this case, identify examples of different key terms and concepts covered in the chapter. For example, the first paragraph describes
The government market is extremely large, yet it is often slighted or even ignored by many firms. Red tape is certainly one reason, but there are others.Discuss the challenges and opportunities in
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 relevant?
Review the Bühler 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 M. Dias Branco? How
Review the Bühler case study that opens the chapter.From this case, identify examples of different key terms and concepts covered in the chapter. For example, dimensions of buyer–seller
On the basis of the data and analysis presented in Chapter 5, what kind of buying behavior would you expect to find for the following products: (a) a haircut,(b) a shampoo, (c) a digital camera, (d)
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 five PSSPS levels of need.
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;
Apply the six-step best practice approach to segmenting product-markets. Consider the product-market for off-campus apartments in your city (step 1). Identify at least two segments within this broad
Review the nickname, need dimensions, and customerrelated characteristics for the six market segments of hotel customers in an urban area shown in Exhibit 4–14.Choose two of the segments and
Review the types of segmenting dimensions listed in Exhibits 4–10 and 4–11, and select the ones you think should be combined to fully explain the market segment you personally would be in if you
Drawing on data in Exhibit 3–6, do you think that Romania would be an attractive market for a firm that produces home appliances? What about Finland? Discuss your reasons.
Describe how a firm’s purpose statement can help a company achieve its revenue and profitability goals.
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
Review the Lemonade case study that opens the chapter.Offer an example of each of the four basic types of opportunities (see Exhibit 2–11 and related discussion)that Lemonade could pursue. These do
Review the Lemonade 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 Lemonade brand and renters
Conduct an online search for “companies using a triple bottom line.” List each company and describe how each contributes to people, planet, and profit.
How did you hear about Hillside Veterinary Clinic? (circle all that apply) Word of mouth (e.g., friend, neighbor, relative) 35% Referral from other clinic 5% Pet Fair 0% Magazine 0% Sign 40% Parade
What services do you use at Hillside Veterinary Clinic? (circle all that apply) Boarding 33% Daycare 10% Weekend hours 20% Training 3% Acupuncture 10% Other 5% (ultrasound, emergency hours) Evening
How important are each of the following to you? (please rank) Not at all important Not very important Somewhat important Very Important important Location close to my home 1 (0%) 2 (5%) 3 (8%) 4
What type of pet(s) do you have? (circle all that apply) Dog Cat Bird Hamster/ Guinea pig 100% 48% 0% 0% Ferret Other 0% 5% (rabbit, chameleon)
For the kinds of business products described in this chapter, complete the following table (be brief, using one or a few well-chosen words).A. Kind of distribution facility (or facilities) needed and
What shopping trends do you foresee over the next 10 years?How might these trends affect suburban regional shopping malls?
Imagine yourself as the manager of a struggling local suburban regional shopping mall. What do you think the mall should do to improve its performance?
What types of environmental opportunities and threats do you see in Potbelly’s external environment? How might they affect Potbelly’s current strategy?
How would you describe Potbelly’s positioning strategy?
Identify and describe Potbelly’s strategy in terms of product(present or new) and market (present or new).
Which of the following social media platforms do you currently use? (circle all that apply)Facebook (61%) Twitter (12%)Instagram (14%) Pinterest (19%)I don’t use any social media platforms (38%)
Do you have access to the Internet? (circle one)Yes No 98% 3%If Yes, do you have an e-mail address?Yes (95%) No (3%) No reply (3%)
Where do you purchase your pet food and/or supplies? (circle all that apply)Grocery store 20%Pet specialty store 68%Discount store (e.g., Walmart) 35%
Have you recommended the Hillside Veterinary Clinic to anyone? (circle one)Yes (88%) No (12%)
Is the Hillside Veterinary Clinic the only clinic you take your pet to? (circle one)Yes (90%) No (10%)If No, what other clinic(s) do you use? CSU Vet Clinic (2), East Side (2)If No, why? (specialized
Have you ever been dissatisfied with the Hillside Veterinary Clinic? (circle one)Yes (5%) No (95%)If Yes, explain briefly, _______________(“personal—do not want to explain,”“poor treatment
Are the hours of the clinic sufficient for you? (circle one)Yes (88%) No (12%)If No, what hours would best serve you? (circle all that apply)Mornings Days Evenings Saturdays Sundays(3%) (3%) (38%)
If Hillside Veterinary Clinic were to expand its facility in the general area, how would this affect your decision to do business with the clinic? (circle one)Would not switch clinics 90%Would
About how many miles do you travel to get to Hillside Veterinary Clinic? (circle one)0–5 (70%) 6–10 (13%) 11–15 (5%) 16–20 (10%) 21–25 (0%) 26+ (3%)
What additional services would you like to see at Hillside Veterinary Clinic?
About how much do you spend each year on your pet(s)? (circle one)$0–60 $61–150 $151–300 $301+ No Reply 3% 10% 28% 53% 8%
How many times in the last 12 months have you visited Hillside Veterinary Clinic?(circle one)1–2 3–4 5–6 7+38% 23% 23% 18%
Which of the following best describe(s) how you view your pet(s)? (circle all that apply)Family member Companion Work animal Show animal Breeding 93% 15% 8% 3% 3%Other __ 5% (rescue dog, hunting
How many pets do you bring to Hillside Veterinary Clinic? (circle one)1 (38%) 2 (35%) 3 (10%) 4 (8%) 5+ (15%)
Based on data in Exhibit B–4, discuss the relative market potential of the city of Boulder, Colorado, and the city of Lakewood, Colorado, for (a) prepared cereals, (b) automobiles, and (c)
Suggest a plausible explanation for sales fluctuations for(a) computers, (b) ice cream, (c) washing machines, (d) tennis rackets, (e) oats, (f) disposable diapers, and (g) latex for rubber-based
Compute net sales and percentage of markdowns for the following data:Markdowns . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 40,000 Gross sales . . . . . . . . . . . . . . . . . . . . . .
Construct an operating statement from the following data:Returns and allowances . . . . . . . . . . . . . . . . . $ 150,000 Expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Compute the net profit for a company with the following data:Beginning inventory (cost) . . . . . . . . . . . . . . . $ 150,000 Purchases at billed cost . . . . . . . . . . . . . . . . . 330,000
Distinguish between the following pairs of items that appear on operating statements: (a) gross sales and net sales, and (b) purchases at billed cost and purchases at net cost.
Cite a local example of an oligopoly, and explain why it is an oligopoly.
Does the plan appear reasonable given the stated objectives?
Does the marketing strategy logically follow from the differentiation and positioning?
Does the marketing strategy logically follow from the target market dimensions?
How do the pieces fit together?
The Consumerist (www.consumerist.com) is a widely read blog. It operates as a consumer watchdog and monitors corporate behavior. Go to this blog and read a posting critical of some firm’s
Discuss how one or more of the trends or changes shown in Exhibit 19–5 are affecting marketing strategy planning for a specific firm that serves the market where you live.
Should marketing managers, or business managers in general, refrain from producing profitable products that some target customers want, but that may not be in their longrun best interest? Should
Review the case study that opens this chapter and look at the section “Today’s Marketers Face Challenges and Opportunities.”If you could advise the U.S. government, would you increase
Review the case study that opens this chapter. From this case, identify examples of different concepts covered in the chapter. For example, highlight examples of microversus macro-marketing criteria.
Some customers have expensive pedigree dogs and cats and are less price sensitive than others about fees for veterinary care.Do you think that it would be possible for Hillside to charge higher
A veterinary clinic must have some system for dealing with emergencies that occur on weekends and at night when the clinic is closed. Individual vets usually rotate so that someone is always on call
The Davis Company’s fixed costs for the year are estimated at $200,000. Its product sells for $250. The variable cost per unit is $200. Sales for the coming year are expected to reach $1,250,000.
Construct an example showing that mechanical use of a very large or a very small markup might still lead to unprofitable operation whereas some intermediate price would be profitable. Draw a graph
If total fixed costs are $200,000 and total variable costs are $100,000 at the output of 20,000 units, what are the probable total fixed costs and total variable costs at an output of 10,000 units?
Review the Samsung case study that opens this chapter.Explain how Samsung could make changes to its marketing strategy to address (a) price sensitivity, (b) value in use pricing, and (c) reference
The same clinic offered customers a sort of cumulative discount—an end-of-year refund if their total spending at the clinic exceeded a certain level. That clinic sees it as a way of being nice to
A veterinary clinic located in another town gives its customers a 10 percent discount on their next vet bill if they refer a new pet owner to the clinic. Do you think that this would be a good idea
Is price discrimination involved if a large oil company sells gasoline to taxicab associations for 2.5 cents less than the price charged to retail service stations? The gas sold to the cab
camelcamelcamel (camelcamelcamel.com) is a website that automatically tracks prices at Amazon.com. The site allows users to track prices, showing a product’s price history for a year or more. Users
Review the Method case study that opens this chapter.Considering what you have learned in the class thus far(other elements of the marketing mix) and, more specifically, pricing lessons in this
Review the Method case study that opens the chapter.From this case, identify examples of different key terms and concepts covered in the chapter. For example, early on the company had a
How could Hillside use two additional aspects of social media?
Suggest two additional ways that Hillside Veterinary Clinic could promote earned media and two ways it could add owned media.
Identify key elements of earned and owned media that Hillside plans to use.
Search online and find examples of (a) a case study, (b) an infographic,(c) a blog, and (d) a branded community. Describe the promotion objective you believe each is trying to achieve.
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
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

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