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business
foundations of marketing

Questions and Answers of Foundations Of Marketing

Describe the impact of mobile technology on social media 275–278
Define and state the objectives of sales promotion 281–282
Discuss the most common forms of consumer sales promotion 282–286
List the most common forms of trade sales promotion 287
Describe personal selling 287–288
Discuss the key differences between relationship selling and traditional selling 288–289
List the steps in the selling process 289–295
Discuss the importance of pricing decisions to the economy and to the individual firm 297–298
List and explain a variety of pricing objectives 298–300
Explain the role of demand in price determination 300–304
Understand the concept of yield management systems 304–305
Describe cost-oriented pricing strategies 305–310
Demonstrate how price can be affected by the product life cycle, competition, distribution strategy, the Internet and extranets, promotion strategy, customer demands, and perceptions of quality
Describe the procedure for setting the right price 317–321
Identify the legal and ethical constraints on pricing decisions 321–323
Explain how discounts, geographic pricing, and other pricing tactics can be used to fine-tune the base price 323–329
Discuss product line pricing 329
Describe the role of pricing during periods of inflation and recession 329–331
Discuss the importance of global marketing 333–335
Discuss the impact of multinational firms on the world economy 335–336
Describe the external environment facing global marketers 337–341
Identify the various ways of entering the global marketplace 341–344
List the basic elements involved in developing a global marketing mix 344–347
Discover how the Internet is affecting global marketing 347
Develop your analytical and communication skills using the Role-Play Exercises online at www.cengagebrain.com.
Briefly describe an experience you have had with a salesperson at a clothing store or an automobile dealership.Describe the steps the salesperson used. Did the salesperson skip any steps? What did
Leap Athletic Shoe Inc., a newly formed company, is in the process of developing a sales strategy. Market researchers have determined that sales management should segment the market into five
Consumer sales promotions aim to increase sales of a particular retail store or product. Identify a familiar type of retail store or product. Recommend at least three sales promotion methods that
Producers use trade sales promotions to encourage resellers to promote their products more effectively.Identify which method or methods of sales promotion a producer might use in the following
In the cosmetics industry, sales promotions reign supreme. You manufacture and market organic skin creams, which are sold nationwide at your own “boutiques”inside various department stores. You
For Murray’s Cheese, personal selling is the driving force behind its success. The business has retail sales of $ 2,500 per square foot and a growth rate of 15 to 20 percent per year at its main
Choose a familiar clothing store. Describe its product mix, including its depth and width. Evaluate the mix and make suggestions to the owner.
Tabasco pepper sauce is a product that has entered the maturity stage of the product life cycle. Name products that would fit into each of the four stages (introduction, growth, maturity, and
Generally, buyers go through a product adoption process before becoming loyal customers. Describe your experience in adopting a product you now use consistently. Did you go through all the stages?
Identify two brands for which you are brand insistent.How did you begin using these brands? Why do you no longer use other brands?
General Motors introduced the subcompact Geo with a name that appeals to a world market. Invent a brand name for a line of luxury sports cars that also would appeal to an international market.Suggest
For each of the following product categories, choose an existing brand. Then, for each selected brand, suggest a co-brand and explain why the co-brand would be effective.a. Cookiesb. Pizzac.
Identify a package that you believe to be inferior.Explain why you think the package is inferior, and discuss your recommendations for improving it.
It is helpful to think of a total product offering as having a combination of three interdependent elements: the core product itself, its supplemental features, and its symbolic or experiential
The idea for New Belgium Brewing Company began with a bicycling trip through Belgium, where some of the world’s finest ales have been brewed for centuries. As Jeff Lebesch, a U.S. electrical
A company often test-markets a proposed product in a specific area or location. Suppose that you wish to test-market your new, revolutionary SuperWax car wax, which requires only one application for
Select an organization that you think should reposition itself in the consumer’s eye. Identify where it is currently positioned, and make recommendations for repositioning. Explain and defend your
Identify a familiar product that recently was modified, categorize the modification (quality, functional, or aesthetic), and describe how you would have modified it differently.
The characteristics of services affect the development of marketing mixes for services. Choose a specific service and explain how each marketing mix element could be affected by these service
Identify three service organizations you see in outdoor, television, or magazine advertising. What symbols are used to represent their services? What message do the symbols convey to potential
Whether you love them or hate them, the AXE commercials leave an indelible impression. The AXE brand, owned by Unilever, is meant to exude masculinity. First released under the Lynx brand name in
How does a return on an investment pricing objective differ from an objective of increasing market share?
A retailer purchases a can of soup for 24 cents and sells it for 36 cents. Calculate the markup as a percentage of cost and as a percentage of selling price.
As discussed in this chapter, customers interpret and respond to prices In different ways, depending on the type of product, perceptions of product quality, and the customer's ability to judge
Price skimming and penetration pricing are strategies that are commonly used to set the base price of a new product. Which strategy is more appropriate for the following products? Explain.a. Short
Price lining is used to set a limited number of prices for selected lines of merchandise. Visit a few local retail stores to find examples of price lining. For what types of products and stores is
Professional pricing is used by people who have great skill in a particular field, such as doctors, lawyers, and business consultants. Find examples (advertisements, personal contacts) that reflect a
Organizations often use multiple pricing objectives. Locate an organization that uses several pricing objectives, and discuss how this approach influences the company’s marketing mix decisions. Are
Whether they’re outside the barn or inside the city limits, farmers’ markets are becoming more popular as consumers increasingly seek out fresh and local foods. Today, more than 7,000 farmers’
Explain the major characteristics of each of the three types of vertical marketing systems (VMSs): corporate, administered, and contractual.
Explain the trade-offs that inventory managers face when they reorder products or supplies. How is the reorder point computed?
Keurig is the North American leader in single-cup coffee brewing. Introduced in 1998, the Keurig system uses self-contained coffee K-Cups, which allow users to brew one cup of coffee or other hot
Supply-chain management involves long-term partnerships among channel members that are working together to reduce inefficiencies, costs, and redundancies and develop innovative approaches to satisfy
Marketers can select from three major levels of marketing coverage when determining the number and kinds of outlets in which to sell a product: intensive, selective, or exclusive distribution.
Describe the decision process you might go through if you were attempting to determine the most appropriate distribution channel for one of the following:a. Shotguns for huntersb. Women’s
Assume that you are responsible for the physical distribution of computers at a web-based company.What would you do to ensure product availability, timely delivery, and quality service for your
Taza Chocolate is a small Massachusetts-based manufacturer of stone-ground organic chocolate made in the classic Mexican tradition. Founded in 2006, Taza markets most of its products through U.S.
What value is added to a product by retailers? What value is added by retailers for producers and ultimate consumers?
Drop shippers take title to products but do not accept physical possession of them, whereas commission merchants take physical possession of products but do not accept title. Defend the logic of
Five Guys Burgers and Fries is one of the fastest growing fast-food franchises in the United States. Started as a single burger joint by Jerry Murrell and his four sons—the“five guys”—in
Juanita wants to open a small retail store that specializes in high-quality, high-priced children’s clothing. What types of competitors should she be concerned about in this competitive retail
Location of retail outlets is an issue in strategic planning.What initial steps would you recommend to Juanita(see Application Question 2) when she considers a location for her store?
Think about a retail store you shop in regularly, or visit one in which you would like to shop. Think about and describe its atmospherics. Be specific about both exterior and interior elements, and
Contact a local retailer you patronize, and ask the store manager to describe the store’s relationship with one of its wholesalers. Using your text as a guide, identify the distribution activities
L.L.Bean, based in Freeport, Maine, began life as a oneproduct firm selling by mail in 1912. Founder Leon Leonwood Bean designed and tested every product he sold, starting with the now-iconic
How do target market characteristics determine which promotional methods to include in a promotion mix?Assume a company is planning to promote a cereal to both adults and children. Along what major
In which ways can word-of-mouth communication influence the effectiveness of a promotion mix for a product?
Should organizations be allowed to promote offensive, violent, sexual, or unhealthy products that can be legally sold and purchased? Support your answer.
The overall objective of promotion is to stimulate demand for a product. Through television advertising, the American Dairy Association promotes the benefits of drinking milk, a campaign that aims to
Developing a promotion mix is contingent on many factors, including the type of product and the product’s attributes. Which of the four promotional methods—advertising, personal selling, public
Suppose marketers at Falcon International Corporation have come to you for recommendations on how to promote their products. They want to develop a comprehensive promotional campaign and have a
Marketers must consider whether to use a push or a pull policy when deciding on a promotion mix (see Figure 15.4 ). Identify a product for which marketers should use each policy and a third product
The SMART car was launched in the United States in 2008, thereby establishing the American “micro-car”category. Sales of SMART cars to date have not met expectations, but the introduction of the
Frank Pepe’s Pizzeria Napoletana has opened one of the most recognizable pizzerias in the United States using word-ofmouth marketing. After returning from World War I, Frank Pepe initially began
What is public relations? Whom can an organization reach through public relations?
How do organizations use public relations tools? Give several examples you have observed recently.
An organization must define its objectives carefully when developing an advertising campaign. Which of the following advertising objectives would be most useful for a company, and why?a. The
Copy, the verbal portion of advertising, is used to move readers through a persuasive sequence called AIDA:attention, interest, desire, and action. To achieve this, some copywriters have adopted
Advertisers use several types of publicity mechanisms.Look through some recent newspapers and magazines or use an Internet search engine and identify a news release, a feature article, or a captioned
Negative public relations can harm an organization’s marketing efforts if not dealt with properly. Identify a company that was recently the target of negative public relations. Describe the
College can be an exciting time. New friends, sporting events, parties. But for many, it can also be a harrowing experience, with a more demanding class and homework regimen and new adult
For most people, surfing and skateboarding come to mind immediately when they think of southern California culture.For 40 years, Vans has embodied the California lifestyle and remains one of the
For each of the following, identify and describe three techniques and give several examples: (a) consumer sales promotion methods and (b) trade sales promotion methods.
How might consumer behavior be influenced by digital networks?
Assume that Reebok has developed two new types of athletic shoes. One is designed for distance runners, and the other has been developed for skateboarders. As a marketer, you need to evaluate the
Consumers use one of three decision-making processes when purchasing goods or services: routinized response behavior, limited decision making, or extended decision making. Describe three buying
The consumer buying process consists of five stages:problem recognition, information search, evaluation of alternatives, purchase, and postpurchase evaluation. Not every buying decision goes through
Attitudes toward products or companies often affect consumer behavior. The three components of an attitude are cognitive, affective, and behavioral. Briefly describe how a beer company might alter
An individual’s roles influence that person’s buying behavior. Identify two of your roles, and give an example of how they have influenced your buying decisions.
Select five brands of toothpaste and explain how the appeals used in advertising these brands relate to Maslow’s hierarchy of needs.
Starbucks—the Seattle-based company that popularized the “coffee culture”—is brewing up higher sales through new beverages and new cafés in global markets. A stop at Starbucks has become
Why might business customers generally be considered more rational in their purchasing behavior than ultimate consumers?
Why do buyers involved in straight rebuy purchases require less information than those making new-task purchases?
The United States is the largest producer of corn in the world. Each year, a corn farmer must decide what type of seed to use and what the end market for the corn crop will be. In approximately a
Identify organizations in your area that fit each business market category: producer, reseller, government, and institutional. Explain your classifications.

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