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Fedex Power Point - Midterm Exam Taryn Lopez Marketing...

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Midterm Exam Taryn Lopez Marketing Strategy, BUSI 544 November 18, 2009
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Midterm Exam 2 10. List and briefly describe the four main ways marketers can fund relevant online information on competitors’ strengths and weaknesses, and summary comments and over performance rating of a product, service, or supplier. First, marketers fund online websites where customers can provide reviews and forums of goods and services provided by various companies. The websites are independent. They reduce the bias that can occur if the companies offering the goods make the website. They receive information from customers on a volunteer basis. The website uses the feedback to rate products and services that were reviewed. Secondly, many companies that sell products and services online provide their own feedback sites. Consumers who have bought products or services from that site are able to leave feedback about their purchase and to rate their satisfaction. The third way is when sites offer customer reviews and expert opinions. The sites that offer this are commonly for financial services or companies that offer high-tech products that require a person of great knowledge. Potential clients are able to look at actual customer reviews and compare them with the ratings provided by a person with professional knowledge. Finally, there are customer complaint sites. Complaints sites are usually created in a forum that allow people to view the problems former customers have had with a particular company. 11. What is a megatrend? Briefly describe five megatrends shaping the consumer landscape. According to Kohler, a megatrend is a large, social, economic, political, and technological change that is slow to form, and once in place, has an influence for seven to ten years or long. One megatrend is an increase in work from immigrants. It is estimated that growth in population due to immigration will soon outpace growth in population due to newborns.
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Midterm Exam 3 Another megatrend is people with greater education attainment, especially women. Currently, women are more likely to go to college than men. There are increases in college attendance because people with higher education tend to make more money in their lifetime. A third megatrend is that people are delaying their retirement. People have been delaying having children and getting married, so it is likely that they will delay their retirement. A fourth megatrend is a change in the nature of work. Work is shifting to be in positions of management, professional, sales or other office related positions. A fifth megatrend is the rising of Hispanic influence. This is occurring because Hispanics are immigrating to the U.S. in large numbers and they are estimated to continue in the future. 14. Explain what a “projective technique” is and how it might be used to assist researchers in
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Fedex Power Point - Midterm Exam Taryn Lopez Marketing...

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