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business essentials
Business Essentials 11th Global Edition Ronald J. Ebert, Ricky W. Griffin - Solutions
3. What was your most convincing argument for using direct mail? For using personal selling? To encourage students to analyze the potential usefulness of two promotional methods-personal selling and direct mail-for a start-up greeting card company.368 Part rv: Managing Marketing Situation You are
4 . Can a start-up company compete in retail stores against industry giants such as Hallmark? To encourage students to analyze the potential usefulness of two promotional methods-personal selling and direct mail-for a start-up greeting card company.368 Part rv: Managing Marketing Situation You are
1. Before discussing the situation with your group, and from the perspective of your assigned role, consider what you would recommend Skilsel say to the two client firms she Is scheduled to visit. Write down your recommendation. The Situation Selling a product-whether a good or a servle&-requires
2. Gather your group together and reveal each member's recommendation. The Situation Selling a product-whether a good or a servle&-requires the salesperson to believe in it, to be confident of his or her sales skills, and to keep commitments made to clients.Because so many people and resources are
3. Appoint someone to record the main points of agreement and disagreement. How do you explain the results? What accounts for any disagreement? The Situation Selling a product-whether a good or a servle&-requires the salesperson to believe in it, to be confident of his or her sales skills, and to
4 . Identify any ethical issues involved in group members'recommendations. Which issues, if any, are more critical than others? The Situation Selling a product-whether a good or a servle&-requires the salesperson to believe in it, to be confident of his or her sales skills, and to keep commitments
5. From an ethical standpoint, what does your group finally recommend Skilsel say to the two client firms she is scheduled to visit? Explain your result. The Situation Selling a product-whether a good or a servle&-requires the salesperson to believe in it, to be confident of his or her sales
6. Identify the advantages and drawbacks resulting from your recommendations The Situation Selling a product-whether a good or a servle&-requires the salesperson to believe in it, to be confident of his or her sales skills, and to keep commitments made to clients.Because so many people and
1. The viewership data that Nielsen develops is important in detennining how much advertisers pay to place their ads on TV. What are the advantages and disadvantages of the system? Are there alternative systems that might work better? Explaln. Businesses spend a lot of money each year on
2. The argument has been made that counting DVR viewing isn't useful because people don't watch program advertisements when using a DVR and because advertisements simply don't have the same urgency as they do when the progam actually airs. Do you agree or disagree with this argument? Give reasons.
3. Suppose that you are buying advertising space on TV. Would you be more likely to accept Nielsen data for, say, sports programs than you would for dramas?Explain. What klnd of biases might you have and why? Businesses spend a lot of money each year on advertising, so it is not surprising that
4. What are the strong and weak points of measuring viewership for internet advertisements? Businesses spend a lot of money each year on advertising, so it is not surprising that they want to know what effect it is having. For example, marketers are asking advertising agencies more probing
Discuss pricing strategies and tactics for existing and new products.
Explain the distribution mix, the different channels of distribution, and the different distribution strategies that businesses use.
Explain the differences among wholesalers, agents/brokers, and retailers.
Identify the different types of retail stores and the activities of a-intermediaries.
Define physical distribution and describe the major activities in warehousing operations.
Compare the five basic forms of transportation and explain how distribution can be used as a marketing strategy.
1. Describe the various pricing strategies and distribution options that are available to companies.Which pricing and distribution strategies were adopted by Auto Vault? Men have always had a bit of a love affair with their cars, but the customers of Auto Vault are downright obsessive. You would be
2. Do you think Shapiro's pricing reflects the market he is targeting? Why or why not? Men have always had a bit of a love affair with their cars, but the customers of Auto Vault are downright obsessive. You would be too if you had $500000 invested in a Lamborghini or some other exotic coupe.Auto
1. All things considered, which shopping bag do you think is best: plastic, paper, or reusable cloth bags? Defend your answer. Canadians use 55 million plastic bags each week.Concerns about plastic bags have motivated retailers to take action. Consider the following examples:• Cities as different
1. What are the strengths and weaknesses of a-distribution? When retailers initially got into online selling, they often kept their sites separate from traditional outlets. But this led to confusion when customers were unable to exchange items In stores. Similarly, today organizations are
2. Have you ever purchased items from any of these sites? Were your experiences positive or negative? Explain. When retailers initially got into online selling, they often kept their sites separate from traditional outlets. But this led to confusion when customers were unable to exchange items In
3. From the manufacturer's point of visw, what are the advantages and disadvantages of using intermediaries to distribute products? What are the advantages and disadvantages from the end-user's point of view?
4. Identify several products in each of the three distribution strategy categories Qntensive, selective, and exclusive). What are the characteristics of the products in each category? Is there a pattern? Explain.
5. How do the activities of a-agents Qntemet shopping agents) or brokers differ from those of traditional agents/brokers?
7. Consider the various kinds of non-store retailing.Give examples of two products that typify the kinds of products sold to consumers through each form of non-store retailing. Are different products best suited to each form of non-store retailing? Explain.
8. Novelties Ltd. produces miniature Canadian flag decals. The fixed costs for their latest project are$5000. The variable costs are $0. 70/flag, and the company should be able to sell them for $2 apiece.How many flags must Novelties Ud. sell to break even? How many flags must the company sell to
9. Sel ect a product with which you are familiar and analyze various possible pricing objectives for it. What information would you want to have if you were to adopt a profit- maximizing objective? A market- share objective?
10. Interview the manager of a local manufacturing firm.Identify the firm's distribution strategy and the channels of distribution that it uses. Where applicable.describe the types of wholesalers or retail stores used to distribute the firm's products
1. What place does online distribution have in the distribution network of this company? To encourage students to consider the value of online retailing as an element in a company's distribution system.Situation As the distribution manager of a privately owned clothing manufacturer specializing in
2. In your view, is online distribution the wave of the future? Is it likely to increase in importance as a distribution system for apparel companies? Why or why not? To encourage students to consider the value of online retailing as an element in a company's distribution system.Situation As the
1 . Before hearing any of your group's comments, and from the perspective of your assigned role, decide whether there are any ethical issues in this situation.If so, write them down.Because several stages are involved when distribution chains move products from supply sources to end consumers, the
2. Before hearing any of your group's comments, and from the perspective of your assigned role, decide how this dispute should be resolved.Because several stages are involved when distribution chains move products from supply sources to end consumers, the process offers ample opportunity for
3. Together with your group, share the ethical issues that were identified. What responsibilities does each party-the customer, the store, and the delivery company-have In this situation?Because several stages are involved when distribution chains move products from supply sources to end consumers,
4. What does your group recommend be done to resolve this dispute? What are the advantages and disadvantages of your recommendations?Because several stages are involved when distribution chains move products from supply sources to end consumers, the process offers ample opportunity for ethical
1. Consider the traditional channels of distribution for music albums. Which channel elements are most affected by the presence of services like KaZaA and Morpheus? Explain how those elements are affected. Physical distribution of music in the form of COs is rapidly declining, and d igital
2. Why is the music industry so concerned about internet distribution? Are there any opportunities for the recording industry In Internet distribution? Physical distribution of music in the form of COs is rapidly declining, and d igital distribution of music is rapidly increasing. A report by
3. Develop arguments opposing the legality of services offered by Morpheus. Then take the reverse position and develop arguments in favour of these se!Vices. Physical distribution of music in the form of COs is rapidly declining, and d igital distribution of music is rapidly increasing. A report by
4. What types of ethical or social-responsibility issues does file sharing raise? Physical distribution of music in the form of COs is rapidly declining, and d igital distribution of music is rapidly increasing. A report by PriceWaterhouseCoopers LLP(PWC) predicts that by 2011 physical music sales
5. What other products, besides music albums, are the most likely candidates for distribution on the internet, now and in the future? Physical distribution of music in the form of COs is rapidly declining, and d igital distribution of music is rapidly increasing. A report by PriceWaterhouseCoopers
1. Describe your target market in terms of age, education level, income, and other demographic variables.Hint: Refer to Chapter 12 for more information on the aspects of target marketing and market segmentation that you may want to consider. Be as detailed as possible about who you think your
2 . Describe the features and benefits of your product or service.Hint: As you learned in Chapter 13, a product is a bundle of attributes-features and benefits. What features does yorr product hav&-What does it look Ike and what does it do? How will the product benefit the buyer? So far, your
3. How will you make your product s tand out In the crowd?Hint: There are many ways to stand out In the crowd, such as having a unique product, outstanding service, or e great location. What makes your great idea special? Does it fill an unmet need in the marl
4. What pricing strategy will you choose for your product, and what are the reasons tor this strategy?Hint: Refer to Chapter 14 for more information on pricing strategies and tactics. Since your business is new, so is the product. Therefore, you probably want to choose between price skimming and
5. Where will customers find your product or service?(That is , what issues of the distribution mix should you consider?)Hint: If your business does not sell its product directly to consumers, what types of retail stores will sell your product? If your product w ill be sold to another busiless,
6. How will you advertise to your target market? Why have you chosen these forms of advertisement?Hint: Marl
7. What other methods of promotion will you use, and why?Hint: There 's more to promotion than simple advertising. Other methods include personal selling, sales promotions, and publicity and public relations. Refer to the discussion of promotion in Chapter 13 for ideas on how to promote your
1. Is the 0 - Ray bracelet a convenience, shopping, or specialty good? Explain your reasoning. Also analyze the "value package" provided by the 0 - Ray bracelet. Q-Ray advertisements say that its "Serious Performance Bracelet" is designed to help people play, work, and live better. • The
2. Briefly describe the variables that are typically used to segment markets and what each involves. VVhich variable is 0-Ray using? Q-Ray advertisements say that its "Serious Performance Bracelet" is designed to help people play, work, and live better. • The advertisements say that the $200
3. Consider the following statement: "People suffering from chronic pain need hope, and a product like 0-Ray provides hope. Even though it might be difficult to prove that the bracelet relieves pain, if people believe the product will reduce their pain that might become a self-fulfilling prophecy
4. Which of the 4 Psis most Important in the marketing of the 0-Ray bracelet? Explain your reasoning. Q-Ray advertisements say that its "Serious Performance Bracelet" is designed to help people play, work, and live better. • The advertisements say that the $200 bracelet-which makes people feel
1. What is the difference between goods, services, and ideas? Are the Tangs marketing a good, a service, or an idea? Explain your reasoning. Baby boomers (people born between 1947 and 1966)now make up one-third of Canada's population, and they control 55 percent of the disposable income in Canada
2. Which of the 4 Ps of marketing do you think is most important in the case of dancing lessons? Explain your reasoning. Baby boomers (people born between 1947 and 1966)now make up one-third of Canada's population, and they control 55 percent of the disposable income in Canada The needs and wants
3. Which variables do marketers generally use to identify market segments? Which variables are being used by the Tangs? Be specifiC. Baby boomers (people born between 1947 and 1966)now make up one-third of Canada's population, and they control 55 percent of the disposable income in Canada The needs
Define money and Identify the different forms It takes in Canada's money supply.
Understand the different kinds of financial institutions that make up the Canadian financial system and explain the services they offer.
Explain the functions of the Bank of Canada and describe the tools it uses to control the money supply.
Discuss the value of common stock and preferred stock to stockholders and describe the secondary market for each type of security.
Describe the investment opportunities offered by bonds, mutual funds, and commodities.
Explain the process by which securities are bought and sold.
1. Have you used a banking smart phone application or visited a bank-sponsored social media group?How effective do you think these tools are for the consumer? For the banks?In the past decade, the banking industry has embraced technology. Why? Each time Apple launches a device, or a new generation
1. Is there a trade-off between bank responsiveness to customers and customer satisfaction with banks? As the worldwide recession deepened in 2009, increasing concern was expressed that many U.S. banks were In financial trouble. That news was in sharp contrast to the situation in Canada, where the
2. Consider the following statement: "Governments around the world should continuously apply very strict standards for banks, even in good economic times, so that the kinds of financial problems that developed in the U.S. will not happen again."Do you agree with the statement? Explain your
1. What are the advantages of emissions trading?What are the disadvantages? Traders are accustomed to using financial markets for investing in just about everything-ranging from pork bellies to movie production-in the hope of gaining a profit. However, new financial markets for commodities known as
2. What has been the experience of the European Union to date with emissions trading? Traders are accustomed to using financial markets for investing in just about everything-ranging from pork bellies to movie production-in the hope of gaining a profit. However, new financial markets for
3. What is the Canadian government doing about introducing emissions trading? Traders are accustomed to using financial markets for investing in just about everything-ranging from pork bellies to movie production-in the hope of gaining a profit. However, new financial markets for commodities known
1. What specific changes in banking are shifting banks away from their historical role?
3. Should credit cards be counted in the money supply?Why ex why not? Support your answer by using the definition of money.
4. Should banks be regulated, or should mar1
5. Suppose you decided to invest in common stocks as a personal Investment. Which kind of broker-full service or online discount-would you use for buying and selling stock? Why?
6. Choose a stock from the TSX and find a newspaper listing of a recent day's transactions for the stock.Explain what each element In the listing means.
10. Contact a broker for Information about setting up a personal account for trading securities. Prepare a report on the broker's requirements for placing buy/sell orders, credit terms, cash account requirements, services available to investors, and commissions/fees schedules.
1. Do you see any similarities in the movement of the various stocks during the same period? For example, did the stocks move up or down at about the same time? If so, do you think the stocks were affected by the same factors? Explain your thinking. To encourage students to understand the forces
2. Based on your analysis, did internal or external factors have the greater impact on stock price? Which factors had the longer-lasting effect? Which factors had the shorter effect? To encourage students to understand the forces that affect fluctuations in stock prices.Situation Investing In
3. Why do you think it is so hard to predict changes in stock price on a day-to-day basis? To encourage students to understand the forces that affect fluctuations in stock prices.Situation Investing In stocks requires an understanding of the various factors that affect stock prices. These factors
1. Before discussing the situation with your group, and from the perspective of your assigned role, consider whether there are any ethical issues in this situation.If yes, write them down. Employees in financial services finns are sometimes confronted by confticting allegiances between the company
2. Return to your group and reveal ethical issues that were Identified by each member. Be especially aware of how different roles resulted in different kinds of ethical issues. Why might role differences result in dissimilar priorities on ethical issues? Employees in financial services finns are
3. For the various ethical issues that were identified, decide as a group which one is the most important for Premier Power Investments to resolve. Which issue is second in inportance? Employees in financial services finns are sometimes confronted by confticting allegiances between the company and
4. From an ethical standpoint, what does your group finally recommend be done to resolve the most important ethical issue? To resolve the second most important ethical issue? Employees in financial services finns are sometimes confronted by confticting allegiances between the company and its
1. What factors determine the market price of a share of stock? Which of those factors were at work in the cases described above that dealt with the issue of stock prices? The stock market is supposed to be a place where you can increase your assets over time if you invest wisely and have patience.
2 . What is the difference between debt and equity financing? Are the situations described above examples of debt or equity Issues? Explain. The stock market is supposed to be a place where you can increase your assets over time if you invest wisely and have patience. But some people don't want to
3. Consider the following statement: "Insider trading should not be illegal. In a fre&-market economy, individuals who have the motivation and intelligence to gather information that allows them to make a lot of money should not be prevented from capitalizing on the information they have collected.
4. Debate: Divide into two groups and defend one of the following statements. (1) Dell should go back to its roots and focus primarily on sales of its computers, laptops, and notebooks. (2) In order for Dell to succeed it must continue to expand and pursue new opportunities such as the smart phone
3. Identity the main factors favouring success for Dell's bold move Into the North American smart phone market.What prominent factors suggest major problems or even failure In this attempt? For over a quarter of a century, Dell's successful model has been documented in countless articles and
2. Over the years, Dell's success was based on a combination of strategic elements. Which of the four Ps was the key element In the success of the company?Explain how the company delivers value to consumers. For over a quarter of a century, Dell's successful model has been documented in countless
1 . In this chapter we have discussed the important concepts of targeting, segmenting, and positioning. In groups of three or four, identify where Dell's brand is positioned In the minds of your classmates. For over a quarter of a century, Dell's successful model has been documented in countless
4. When equipment manufacturers advertise residential HIAC products, they often show them in different climate situations (in winter, summer, or high-humidity conditions). Which market segments are these ads targeting? Describe these segments in terms of demographic and psychographic
3. Which factors were least important in your decision?Why?Dealing in Segments and Variables Goal To encourage students to analyze the ways in which various market segmentation variables affect business success.Situation You and four partners are thinking of purchasing a heating and air
2. Identify the two variables you believe will have the greatest impact on the dealership's success. Why are these factors so important?Dealing in Segments and Variables Goal To encourage students to analyze the ways in which various market segmentation variables affect business success.Situation
1. Which location did you choose? Describe the market segmentation factors that influenced your decision.Dealing in Segments and Variables Goal To encourage students to analyze the ways in which various market segmentation variables affect business success.Situation You and four partners are
3. Research the waste management industry. What can you learn from the companies' websites about the benefits of new biodegradable plastics? The majority of plastics that have been manufactured in the last hundred years are still in existence. (As little as 4 percent of plastics have been recycled
2. What are some of the concerns that businesses would have when undertaking new initiatives like those at GWS? What concerns might consumers have? The majority of plastics that have been manufactured in the last hundred years are still in existence. (As little as 4 percent of plastics have been
1. What are the 4 Ps of marketing? Which one do you think was most important in this case? The majority of plastics that have been manufactured in the last hundred years are still in existence. (As little as 4 percent of plastics have been recycled and only 2 percent have been incinerated.) The
Describe the international and small-business marketing mixes.
Explain the purpose and value of marlceting research.
Explain market segmentation and show how it is used in target marketing.
Explain the concept of marketing.
Define the nature of U.S. business, describe the external environments of business, and discuss how these environments affect the success or failure of organizations.
What is one required to do in order to spot promising opportunities and be considered enterprising as a result?
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