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foundations of marketing

Questions and Answers of Foundations Of Marketing

Indicate the method of buying (description, inspection, sampling, or negotiation) an organization would be most likely to use when purchasing each of the following items. Defend your selections.a. A
Purchases by businesses may be described as new-task, modified rebuy, or straight rebuy. Categorize the following purchase decisions and explain your choices.a. Bob has purchased toothpicks from
Identifying qualified customers is important to the survival of any organization. NAICS provides helpful information about many different businesses. Find the NAICS manual at the library or online at
Dale Carnegie was a highly successful entrepreneur and one of the most legendary speakers of the 20 th century.His simple but effective two-step formula for connecting with customers and colleagues
To successfully implement marketing strategies in the international marketplace, a marketer must understand the complexities of the global marketing environment.Which environmental forces
Many firms, including Procter & Gamble, FedEx, and Occidental Petroleum, wish to do business in eastern Europe and in the countries that were once part of the former Soviet Union. What events could
This chapter discusses various organizational approaches to international marketing. Which would be the best arrangements for international marketing of the following products, and why?a.
Procter & Gamble has made a substantial commitment to foreign markets, especially in Latin America. Its actions may be described as a “globalization of marketing.”Describe how a shoe manufacturer
Windshield wipers were invented by Mary Anderson in 1903, when she observed that streetcar drivers in New York City had to open the window when it rained in order to see. Her invention consisted of a
While Bryce Phillips, founder of active sports retailer evo, was skiing in Japan, he was surprised to learn that several skiers at the lodge owned evo products. Although it is evo’s intention to
How can marketers exploit characteristics of digital marketing to improve relations with customers?
How can marketers exploit the characteristics of the Internet to improve the product element of their marketing mixes?
Amazon.com is one of the Web’s most recognizable marketers. Visit the company’s website at www.amazon.com and describe how the company adds value to its customers’ buying experiences.
Social networking has become a popular method of communication not only for individuals but for businesses as well. Visit the various social networking sites, such as Facebook and Twitter, and
Some products are better suited than others to electronic marketing activities. For example, Art.com specializes in selling art prints via its online store. The ability to display a variety of prints
Visit the information technology company website www.covisint.com and evaluate the nature of the business customers attracted. Who is the target audience for this business marketing site? Describe
Marketers have a keen interest in social media because of the notion of influence. The assumption is that you have certain friends on Facebook, or specific authors whom you follow on Twitter, who
That 25 -cent postcard in the gift shop may soon become a thing of the past. RogueSheep’s postage application is giving the traditional postcard a run for its money, as it allows users to send a
Assume that you are opening one of the following retail businesses. Identify publications at the library or online that provide information about the environmental forces likely to affect the
Identify at least one technological advancement and one sociocultural change that have affected you as a consumer.Explain the impact of each on your needs as a customer.
Identify an organization in your community that has a reputation for being ethical and socially responsible.What activities account for this image? Is the company successful? Why or why not?
Competitive forces are very important to companies, particularly those that operate in many different countries. However, the importance of each competitive force might vary depending upon the
Develop your analytical and communication skills using the Role-Play Exercises online at www. cengagebrain.com.
While many organizations try to incorporate cause-related marketing into their business operations, TOMS Shoes takes the concept of philanthropy one step further. TOMS blends a for-profit business
What is the difference between probability sampling and nonprobability sampling? In what situation would random sampling be best? Stratified sampling? Quota sampling?
Suppose you are opening a health insurance brokerage firm and want to market your services to small businesses with fewer than 50 employees. Determine the information you must pull from your database
After observing customers’ traffic patterns, Bashas’Markets repositioned the greeting card section in its stores, and card sales increased substantially. To increase sales for the following types
When a company wants to conduct research, it must first identify a problem or possible opportunity to market its goods or services. Choose a company in your city that you think might benefit from a
Input for marketing information systems can come from internal or external sources. Nielsen Corporation is the largest provider of single-source marketing research in the world. Identify two firms in
You work as a marketing researcher for a manufacturer of energy drinks. Your company is designing a new product that will be targeted at college and university students. In order to learn more about
For many years, marketers have focused upon consumers between the ages of 18 and 34 to promote products. Marketers feel that wooing consumers early in life will ensure that they become lifetime loyal
Despite customers using cell phones to tell the time, the U.S. watch market is still worth about $ 10 billion. A new watch company that manufactures classic American watches in the style of the Elgin
Cable channels, such as Lifetime and Spike TV, each target a specific market segment. Identify another product marketed to a distinct target market. Describe the target market, and explain how the
Generally, marketers use one of three basic targeting strategies to focus on a target market: undifferentiated, concentrated, or differentiated. Locate an article that discusses the target market for
The car market may be segmented according to income and age. Discuss two ways the market for each of the following products might be segmented.a. Candy barsb. Travel servicesc. Bicyclesd. Cell phones
If you were using a time series analysis to forecast sales for your company for the next year, how would you use the following sets of sales figures?c. In 2010, sales increased 21.2 percent. In 2011,
From its 19 th-century roots as a British bicycle company, Raleigh has developed a worldwide reputation for marketing sturdy, comfortable, steel-frame bicycles. The firm, named for the street in
Identify several businesses in your area that have not adopted the marketing concept. What characteristics of these organizations indicate nonacceptance of the marketing concept?
Identify possible target markets for the following products:a. Kellogg’s Corn Flakesb. Wilson tennis racketsc. Disney Worldd. Diet Pepsi
Discuss the variables of the marketing mix (product, price, promotion, and distribution) as they might relate to each of the following:a. A trucking companyb. A men’s clothing storec. A skating
There are seemingly hundreds of different cell phones available on the market today. How do consumers choose? The answer is simple: consumer value. Compare the value of an Apple iPhone and a Samsung
In 1991, electrical engineer Jeff Lebesch and Kim Jordan began making Belgian-style ales in their basement. The impetus for the brewery occurred after Lebesch had spent time in Belgium riding
What are some issues to consider in analyzing a company’s resources and opportunities? How do these issues affect marketing objectives and marketing strategy?
What is SWOT analysis and why is it important?
How can an organization make its competitive advantages sustainable over time? How difficult is it to create sustainable competitive advantages?
You probably are quite familiar with Apple and its highly popular products. You may even own an iPad, iPhone, or iPod. Create a SWOT analysis for Apple. If you need additional information, feel free
Contact three local companies that appear to be successful(maybe they are expanding to new locations or post financial data online that looks promising). Visit the company’s website or contact a
Assume you own a new, family-style restaurant that will open for business in the coming year. Formulate a long term goal for the restaurant, and then develop short-term goals to help you achieve the
Amazon.com identified an opportunity to capitalize on the convenience of online shopping. Many consumers would rather shop from home and avoid stores.Entering the market during a strategic window
Marketing units may be organized according to functions, products, regions, or types of customers. Describe how you would organize the marketing units for the following:a. A toothpaste with whitener,
Larry Bodkin had a tough road ahead of him when he became president of White Rock Beverages. Founded in the late 1800s, White Rock’s sparkling water reached its heyday in the early 20th century as
Discuss the development of marketing. What are the critical ways in which marketing has changed over the years?
Identify two examples of organizations that you consider provide customer value, and describe how they do it.
Select one influencer or celebrity that you follow online. Describe how they have used marketing to build their brand.
Marketing is central to how we live our lives. Discuss.
Rather than assisting in the creation of value, marketing is responsible for many of society’s ills. Discuss.
Visit the Chartered Institute of Marketing content hub www.cim.co.uk/exchange/. Select any story currently featured that interests you and summarize three key learning points from the article.
Depop was developed by entrepreneur Simon Beckerman in 2011; it subsequently launched in Italy in 2013 and relocated to London in 2015. The company has expanded globally and also has offices in New
Discuss the relationships between business strategy, marketing strategy and marketing tactics.
Discuss the role and limitations of the external analysis phase of marketing planning.
What is meant by a SWOT analysis? What are the characteristics of an effective SWOT analysis?
Compare and contrast a cost leadership strategy with a differentiation strategy. Is it possible to pursue both strategies simultaneously?
Discuss why it is important for marketers to be able to measure and justify the effectiveness of marketing activities.
Visit www.bplans.com, https://blog.hubspot.com/marketing/marketing-plan-examples and www.howstuffworks.com/marketing-plan.htm. Review some of the sample marketing plans available on these sites.
Nike was founded in 1964 by Bill Bowerman. Located in Beaverton, Oregon, in the USA, the company was initially known as Blue Ribbon Sports. In 1972, it launched the first Nike shoe, but it was not
What are the differences between organizational buying behaviour and consumer buying behaviour?
Choose a recent purchase that included not only yourself but also other people in making the decision. What role(s) did you play in the buying centre? What roles did these other people play and how
Compare and contrast the information processing approach and the consumer culture approach to our understanding of how consumers behave in the ways that they do.
Review the choice criteria influencing some recent purchases, such as a hairstyle, a meal, etc.
Describe the recent trends in just-in-time purchasing, online exchanges and centralized purchasing.Discuss the implications of these trends for marketers in vendor firms.
Outline the benefits and challenges associated with using influencer marketing. Highlight some of the main social media influencers relevant to your market, age group and interests. Assess the extent
On an international scale, Peloton has created and built a phenomenal brand with a cult-like following in just six years. The power of the brand lies in its ambition to be the ‘Apple’ of fitness,
What are the differences between qualitative and quantitative research? Explain the roles played by each.
Outline the main stages in the marketing research process, identifying particularly the kinds of difficulties that might be faced at each stage.
Market research is being trivialized by the number of surveys that are being reported in the media.Discuss.
Many firms are now investing heavily in analysing their own customers through CRM and website analysis. What are the advantages and disadvantages of this trend for both firms and consumers?
Discuss and debate the 7 Vs of big data. Are there any Vs missing, in your opinion?
What are the opportunities and challenges for companies using social media listening?
Discuss the recent rise of ethnography and netnography as methods to study consumer behaviour.What are the ethical implications of these approaches?
Visit www.surveymonkey.com and learn about how to create and administer a survey.
Headquartered near the historic Pike Place Market in Seattle, Starbucks was founded in 1971 by Jerry Baldwin, Gordon Bowker and Zev Siegl. Their business model was based on a simple concept: sales of
Discuss the advantages and related challenges of segmenting the market.
You have been asked by a client company to segment the confectionery market. Use at least three different bases for segmentation and describe the segments that emerge.
Many consumer goods companies have recently been experimenting with the possibilities of a customized target marketing strategy. What are the advantages and limitations of such a strategy?
Research has emerged that views the targeting of particular segments as overdone. Discuss the merits and weaknesses of the sophisticated mass marketing approach of appealing to as large a slice of
A friend of yours wants to launch a new breakfast cereal on the market but is unsure how to position the product. Develop a perceptual map of the breakfast cereal market, identifying brands that
What is the difference between positioning and repositioning? Choose a brand that has been repositioned in the marketplace, and describe both its old positioning and its new positioning. Is its
Visit Experian.co.uk and review the Mosaic Global geodemographic system. Select any one Mosaic group (e.g. Sophisticated Singles) and identify some products that could be targeted at this group and
In today’s interconnected digital world, full of savvy Gen Y consumers, every single thing you do is marketing,’ wrote BrewDog co-founder, James Watt. Today, BrewDog is famous for selling a wide
Explain the difference between a product and a brand.
Think of five brand names. To what extent do they meet the criteria of good brand naming as laid out in Table 6.1? Do any of the names legitimately break these guidelines? Table 6.1 Brand name
Examine a product like bottled water through the lens of the core, actual and augmented product.What types of differentiation strategies are being used by brands in this sector? Can you suggest any
The product life cycle is more likely to mislead marketing management than provide useful insights. Discuss.
Explain what is meant by brand salience and brand image, and discuss the relationships between them.
Outline the main stages in the new product development process, identifying the potential sources of failure at each stage.
Some researchers argue that the idea of product differentiation is oversold in mature product markets.Review the debates online regarding differentiation and distinctiveness. What is your view?
Describe the contrasting approaches brands take to brand architecture. Select one multi-brand organization and analyse its approach.
This family-owned watch company (established in 1839) has survived the digital-watch revolution that swept the globe. Patek Philippe is a manufacturer of very high-end, superior-quality timepieces
Discuss the implications of the unique characteristics of services for the marketing activities of services enterprises.
Discuss the various elements of experiential marketing. In your view, why is experiential marketing a growing trend?

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