Chap 10 Participation questions
1. Explain what marketers mean by the term product.
Everything that a person receives in an exchange
2. Identify and explain the three things that may be a product.
Tangible good, service, idea
3. Are all products composi
1. In terms of college students being a potential market at their current life stage, I would say no. I do not
believe many college students will be buying Mercedes-Benz. However, college students being a viable
potential market for Mercedes-Benz upon gra
Reasons to restructure the distribution channel
Current size of the distribution channel is designed to supply small sized quantity and will not be able to
take large size order. Hence it is important to restructure so that large size orders can be taken.
1. Knowledge turns into expertise. Material knowledge of your audience. Curse of
knowledge is when you know so much, but you cant break it down. No clear way.
Simplicity is complex present in a clean way.
2. Confidence Not arrogant or timid. Be natural. Y
(1) Girl Scout Cookies (Case Ch 1 p. 21)
What's Your Favorite Cookie? Tagalongs are my favorite cookie. Who doesn't love chocolate a peanut
butter paired together? The only downside is that I can easily finish an entire package in a day. Thin
When hired to generate a report on the advantages and disadvantages of a company making its own
product to sell alongside competitors products I would first research about the others product to avoid
any lawsuits. What I found as the absolute best advanta
marketing channel a set of interdependent organizations that eases the transfer of ownership as
products move from producer to business user or consumer
channel members all parties in the marketing channel who negotiate with one another, buy and sell
(1) Yah! An item of mine on EBay sold while doing this homework. :D
Back to the subject. :P
After the customer has went through the first stage of the consumer decision-making process, need
recognition, they go onto the more 'important to EBay' stages. Th
(1) There has been some companies that have really done very well with introducing their own brand of
typical products they sell in store. Some have made it a brand of its own like Wal-Mart Stores did with
Great Value while others have kept the new produc
-Enhances brand image and strengthens relationship with customers
-no need to spend more time or cost on brand development when introducing new products
-instead of simply putting labels to generic products retailers can first test their own br
What is the goal of marketing? Facilitative exchange
What are the 3 orientations of marketing? Describe. Production- seller has all the power
Sales- aggressive selling, disregards market needs/consumer demand
Market- obtains information from customers, co
(1) As I would like to think GAP is grabbing the chance to help and somehow likewise they are
endeavoring to spit sparkle their picture. I believe that an organization together with RED can enhance
Gap's picture. I feel that a great many people couldn't c
direct ambush activities when a brand intentionally tries to make itself seem associated with an event or
property for which it has purchased no rights and is not an official sponsor
predatory ambushing intentionally attacking a rival's official sponsorsh
Marketing The activity, set of institutions, and processes for creating, communicating, delivering, and
exchanging offering offerings that have value for customers, clients, partners, and society at large
Exchange People giving up something in order to re
Chapter 6 Consumer Decision Making
Consumer behavior processes a consumer used to make purchase decisions, as well as
to use and dispose of purchased goods or services; also includes factors that influence
purchase decisions and product use.
EXAM 1 STUDY GUIDE
Chapter 1: An Overview of Marketing
Marketing the activity, set of institutions, and processes for creating, communicating,
delivering, and exchanging offerings that have value for customers, clients, partners, and
society at large.
Chapter 1: An Overview of Marketing
Marketing promotions, appealing to customers
Philosophy; allows customers to be satisfied
Organizational activity; set up institutions and processes
According to the American Marketing Association (AMA), marketing is
Chapter 1: An Overview of Marketing
1.1 What is Marketing
1. A philosophy, an attitude, a perspective, or a management orientation that stresses customer satisfaction.
2. An organizational activity, set of institutions, and processes.
Chapter 2: Strategic Planning for Competitive Advantage
2.1 The Nature of Strategic Planning
Strategic planning is the managerial process of creating and maintaining a fit between the organizations objectives
and resources and the evolving market opportu
Chapter 3: Ethics and Social Responsibility
3.1 Determinants of a Civil Society
The six modes of social control are:
o Ethics: Ethics are the moral principles or values that generally govern the conduct of an individual or group.
o Laws: Just because som
Chapter 5: Developing a Global Vision
5.1 Rewards of Global Marketing and the Shifting Global Business Landscape
Global marketing- marketing that targets markets throughout the world- has become an imperative for business.
U.S. managers must develop a g
Chapter 6: Consumer Decision Making
6.1 The Importance of Understanding Consumer Behavior
In order to create a proper marketing mix for a well-defined market, marketing managers must understand that
consumers product and service preferences are constantl
Chapter 4: The Marketing Environment
4.1 The External Marketing Environment
The marketing mix is under the firms control and is designed to appeal to a specific group of potential buyers, or
A target market is a group of people or organi
Chapter 7: Business Marketing
7.1 What is Business Marketing?
Business marketing (AKA industrial, business-to-business, B-to-B, or B2B) is the marketing of goods and services to
individuals and organizations for purposes other than personal consumption.
Chapter 8: Segmenting and Targeting Markets
8.1 Markets and Market Segments
The term market means different things to different people.
o We are familiar with the supermarket, stock market, labor market, fish market, and flea market.
All of these types
Chapter 9: Marketing Research
9.1 The Role of Marketing Research
Marketing research is the process of planning, collecting, and analyzing data relevant to a marketing decision.
Marketing research plays a key role in the marketing system.
It provides de
Chapter 10: Product Concepts
10.1 What is a Product?
The product offering, the heart of an organizations marketing program, is usually the starting point in creating a
A product is defined as everything, both favorable and unfavorable, th
Chapter 13: Supply Chain Management
13.1 Supply Chains and Supply Chain Management
Many modern companies are turning to supply chain management for competitive advantage.
A supply chain is the connected chain of all of the business entities, both intern
Chapter 11: Developing and Managing Products
11.1 The Importance of New Products
New products are important to sustain growth, increase revenues and profits, and replace obsolete items.
A. Introduction of New Products
Some companies spend a considerable
Chapter 12: Services and Nonprofit Organization Marketing
12.1 The Importance of Services
A service is the result of applying human or mechanical efforts to people or objects.
Services involve a deed, a performance, or an effort that cannot be physicall