HW 1 marketing.docx - Assignment 1 Principles of Marketing...

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Assignment 1 Principles of Marketing This is an individual assignment. Answer and turn in the odd questions only (1, 3, 5,…). The even questions (2, 4, 6,…) will help you to get prepared for the midterm exam. Chapter 1 1-1- Marketing refers to the activity for creating , communicating, delivering and exchanging offerings that benefit its customers, the organization , its stakeholders , and society at large. 2-1- To serve both buyers and sellers, marketing seeks to discover and satisfy the needs and wants of prospective customers. 3-1- The Terrafugia Transition is a 19-foot, two-seater road-drivable, light-sport aircraft with an anticipated price of $279,000. What are some examples of prospective customers for this flying car? People that make more than the average person because they need to maintain the flying car. 4-1- The trade of things of value between buyer and seller so that each is better off after the trade is referred to as exchange. 5-1- The American Red Cross created a series of advertisements to encourage people to donate blood. After viewing an ad, Amanda went to the local Red Cross office and donated a pint of her blood. Amanda returned home feeling happy that she had performed a good deed. Did an exchange occur in a marketing sense? If yes, what was exchanged? Yes, Amanda received a happy feeling and The American Red Cross received blood. 6-1- A local college of business offers an outstanding graduate business school education program. Marissa pays the tuition to attend and earns her MBA with a concentration in marketing management. Upon graduating, she is offered a high paying, fulfilling position. Was this a marketing exchange? Explain. The local college got the money for her tuition and she gained a valuable degree that is causing her to acquire a good job, making both parties satisfied. 7-1- What are 5 environmental forces that affect an organization? Social, Economic, Technological, Competitive, and Regulatory. 8-1- A student would like to buy cross-over SUV from a local dealer, but she thinks the payments will be too high. Marketing does not occur in this situation because there was no exchange and none of the parties reached satisfaction. 9-1- Marketing discovers consumer needs by taking information about needs from their potential consumers which is also considered the market. 11-1- People with both the desire and ability to buy a specific offering are referred to as market
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12-1- A target market refers to one or more specific groups of potential consumers toward which an organization directs its marketing program 13-1- Kraft produces Lunchables, a prepackaged meal usually consisting of several crackers, small slices of meat, and small slices of cheese. Other items in the product line contain small bottles of Chiquita Strawberry Banana Fruit smoothie, Capri-Sun juice, or Kool-Aid. The box is bright yellow and the quantity of food contained within it is small. What do you think is the target market for Kraft Lunchables? Students that are going on a field trip that are in elementary school.
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  • Fall '13
  • Marketing, relative market share, Business Portfolio Analysis, small appliances product, appliances product line

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