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Marketing Real People, Real Choices 4th Canadian Edition Michael R. Solomon, Greg W. Marshall, Elnora W. Stuart, J. Brock Smith, Sylvain Charlebois, Bhupesh Shah - Solutions
Explain habitual decision making, limited problem solving, and extended problem solving. What is the role of perceived risk in the decision process?
What are the steps in the consumer decision-making process?
What is search engine marketing and how is it related to the consumer decision process?
What is perception? Explain the parts of the perception process: exposure, attention, and interpretation. For marketers, what are the implications of each of these components?
What is motivation? What is the role of motivation in consumer behaviour?
What is behavioural learning? What is cognitive learning? How is an understanding of behavioural and cognitive learning useful to marketers?
What are the three components of attitudes? What is personality?
Explain what lifestyle means. What is the significance of family life cycle and lifestyle in understanding consumer behaviour and purchasing decisions?
What is the decision facing Lexus?
What factors are important in understanding this decision situation?
How do B2B markets differ from consumer markets? How do these differences affect marketing strategies?
Explain how reciprocity and reverse marketing operate in B2B markets.
Explain the role of intranets, extranets and private exchanges in B2B e-commerce.
Describe the security issues firms face in B2B e-commerce. What are some safeguards firms use to reduce their security risks?
Explain what we mean by derived demand, inelastic demand, fluctuating demand, and joint demand.
How do we generally classify B2B markets? What is the NAICS?
Describe new-task buys, modified rebuys, and straight rebuys. What are some different marketing strategies each calls for?
What are the characteristics of business buyers?
What is a buying centre? What are the roles of the various people in a buying centre?
What are the steps in the business buying decision process? What happens in each stage?
What is single sourcing? Multiple sourcing? Outsourcing?
What is the decision facing The Filter?
What factors are important in understanding this decision situation? Discuss.
What are the alternatives? Discuss.
What is market segmentation and why is it an important strategy in today’s marketplace?
Explain the concepts of share of customer, lifetime value of a customer, customer equity, and customer prioritization.
List and explain the major ways to segment consumer markets.
What are some of the ways marketers segment industrial markets?
List the criteria marketers use to determine whether a segment may be a good candidate for targeting.
Explain undifferentiated, differentiated, concentrated, and customized marketing strategies. What is mass customization?
What is product positioning? What do marketers mean by creating a brand personality? How do marketers use perceptual maps to help in developing effective positioning strategies?
Explain the concept of strategic orientation and the value creation strategy of intimacy.
How can marketers defend their positioning strategies?
What is CRM? How do firms practice CRM?
If you were Myles Hamilton and the Spitz company, what would you do and why?
What forces of environmental concern are changing the auto industry? What are other key factors changing the nature of the auto industry? When are these changes likely to occur?
What are the distinctive consumer trends that are expected to alter the auto industry within the next five years? Identify and describe the changes in consumer behaviour. How will consumers purchase cars? What will likely motivate customers to change their purchasing habits?
Which consumer groups are likely to be the first to adopt the newer electric cars? Describe the typical innovator.
What target market strategies are likely to be adopted with this new product introduction?
What is the difference between the core product, the actual product, and the augmented product?
What is a new product? Why is understanding new products important to marketers? What are the types of innovations?
List and explain the steps marketers undergo to develop new products.
What is a test market? What are some pros and cons of test markets?
Explain the stages a consumer goes through in the adoption of a new product.
List and explain the categories of adopters.
What product factors affect the rate of adoption of innovations?
Explain how organizations may differ in their willingness to buy and use new industrial products.
What is the difference between a durable good and a nondurable good? What are the main differences among convenience, shopping and specialty products?
What is an unsought product? How do marketers make such products attractive to consumers?
What types of products are bought and sold in business-to-business markets?
What are intangibles? How do basic marketing concepts apply to the marketing of intangibles?
What is the service continuum? What are good-dominated services, equipment- or facility-based services, and people-based services?
What are core and augmented services? How do marketers increase market share with augmented services?
What dimensions do consumers and business customers use to evaluate service quality? How do marketers measure service quality?
What is the decision facing KFC?
What factors are important in understanding this decision situation? Discuss in detail.
What are the alternatives? Discuss in detail.
What are some reasons a firm might determine it should expand a product line? What are some reasons for contracting a product line? Why do many firms have a product mix strategy?
Describe some of the different ways firms organize the marketing function to manage existing products. What are the ways firms organize for the development of new products?
Why is quality such an important product strategy objective? What are the dimensions of product quality? How has e-commerce affected the need for quality product objectives?
Explain the product life cycle concept. What are the stages of the product life cycle?
How are products managed during the different stages of the product life cycle?
What is a brand? What are the characteristics of a good brand name? How do firms protect their brands?
What is a national brand? A store brand? Individual and family brands?
What does it mean to license a brand? What is co-branding?
What are the functions of packaging? What are some important elements of effective package design?
What is the decision facing Starbucks?
What factors are important in understanding this decision situation? Discuss briefly.
What are the alternatives? Discuss briefly.
What is price, and why is it important to a firm? What are some examples of monetary and non-monetary prices?
Explain two-part pricing, payment pricing, price bundling, captive pricing, and distribution-based pricing tactics. Give an example of when each would be a good pricing tactic for marketers to use.
Why do marketers use trade or functional discounts, quantity discounts, cash discounts, and seasonal discounts in pricing to members of the channel?
What is dynamic pricing? Why does the Internet encourage the use of dynamic pricing?
Explain these psychological aspects of pricing: price-quality inferences, odd-even pricing, internal reference price, price lining, and prestige pricing.
Explain how unethical marketers might use bait-and-switch tactics, price-fixing, and predatory pricing. What is loss-leader pricing? Why is it not price discrimination when men and women get charged different amounts to have a shirt dry cleaned?
Describe and give examples of some of the following types of pricing objectives: profit, market share, competitive effect, customer satisfaction, and image enhancement.
Explain how the demand curves for normal products and for prestige products differ. What are demand shifts and why are they important to marketers? How do firms go about estimating demand? How can marketers estimate the elasticity of demand?
Explain variable costs, fixed costs, average variable costs, average fixed costs, and average total costs.
What is break-even analysis? What is marginal analysis? What are the comparative advantages of break-even analysis and marginal analysis for marketers?
What are trade margins? How do they relate to the pricing for a producer of goods?
How does recession affect consumers’ perceptions of prices? How does inflation influence perceptions of prices? What are some ways that the competitive environment, government regulations, consumer trends and the global environment influence a firm’s pricing strategies?
Explain cost-plus pricing, target costing, and yield management pricing. Explain how a price leadership strategy works.
For new products, when is skimming pricing more appropriate, and when is penetration pricing the best strategy? When would trial pricing be an effective pricing strategy?
How might the concept of segmentation be useful to Heather?
How might Heather better manage prices in distribution channels with different margin expectations?
How should Heather respond to Walmart’s request?
What types of consumers are likely to be the first to buy these new electric cars? Answer your question in relation to the adopter categorization on the basis of relative time of adoption of innovations.
What stage of the adoption process does this new program influence? Refer to the five stages that a consumer goes through in the process of adopting a new product?
What do you believe will be the strongest motivations behind the purchase of an electric car? Do you think the Ontario incentive program is attractive? Do you think this rebate program will cause a jump start for the electric car market?
Comment on the introductory prices for the new electric cars? What type of pricing strategy is being adopted with these new products? Do you believe that the introductory prices are supported? Are the prices in line with the offerings? Do you think enough buyers will want the product at the
What is integrated marketing communication? What are multi-channel promotional strategies? Why is word-of-mouth communication so important?
Explain the hierarchy of effects and how it is used in communication objectives.
Describe the major ways in which firms develop marketing communication budgets.
Describe push versus pull strategies. How are push and pull strategies useful in different stages of the product life cycle?
Describe the traditional communication model.
List the elements of the promotion mix and describe how they are used to deliver personal and mass appeals.
Explain the many-to-many communication model and why it is important for marketers today.
What is buzz? How do marketers practice buzz building?
What is viral marketing? How do marketers use brand ambassador or brand evangelists?
What is social media? What are social networks? Describe Facebook, Twitter, virtual worlds, product review sites, mobile apps, and geospatial platforms.
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