Scenario 3: The marketing mix begins with product.

1. We studied three different perspectives that a marketer should use to view product that give the marketer a means to create competitive advantage. Describe two of these perspectives. (Hint: this is not types of product: convenience, shopping or specialty.)

2. How does it help marketers to examine product from these different perspectives when working to create a competitive advantage?

3. Select a product and use one of these perspectives to describe it.

Scenario 4: Once you have segmented a market you then should select one or more market segments and target what you have selected.

a. After you have selected a segment to target, you will need to make marketing mix decisions to appropriately target the selected segment. What information in your segment profile will help you to make strategic marketing mix decisions? Provide examples.

b. Why is this important and what does it have to do with customer satisfaction?

c. Select a product and a likely market segment for that product. Describe the market segment and tie its description to marketing mix choices you would make. Be specific.