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business
business essentials
Business Essentials 6th Edition Ronald J. Ebert - Solutions
As a group, discuss the underlying ethical issues in this situation and write them down.
As a group, brainstorm any legal issues involved in this situation and write them down.
Do the ethical and legal implications of your choices always align?
Do the ethical and performance implications of your choices always align?
What do you see as the “corporate culture” of your business?What types of employee behaviors, such as organizational citizenship, will you expect?Hint: Will your business demand a casual environment or a more professional environment? Refer to the discussion on employee behavior in Chapter
for information on organizational citizenship and other employee behaviors.
What is your philosophy on leadership? How will you manage your employees day-to-day?Hint: Refer to the discussion on leadership in Chapter 9, to help you formulate your thoughts.
Looking back at your organizational chart in Part 2, briefly create a job description for each team member.Hint: As you learned inChapter 10, a job description lists the duties and responsibilities of a job; its working conditions;and the tools, materials, equipment, and information used to perform
Next, create a job specification for each job, listing the skills and other credentials and qualifications needed to perform the job effectively.Hint: As you write your job specifications, consider what you would write if you were making an ad for the position. What would the new employee need to
What sort of training, if any, will your employees need once they are hired? How will you provide this training?Hint: Refer to the discussion of training in Chapter
Will you offer your employees on-the-job training? Off-the-job training? Vestibule training?
A major factor in retaining skilled workers is a company’s compensation system—the total package of rewards that it offers employees in return for their labor. Part of this compensation system includes wages/salaries. What wages or salaries will you offer for each job? Why did you decide on
for more information on forms of compensation. You may also want to check out sites like www.salary.com, which includes a salary wizard you can use to determine how much people with different job titles are making in your area and across the United States.
As you learned in Chapter 10, incentive programs are special programs designed to motivate high performance. What incentives will you use to motivate your workforce?Hint: Be creative and look beyond a simple answer, such as giving pay increases. Ask yourself, who are my employees and what is
for more information on the types of incentives you may want to consider.
Understand how a company’s human resource management system supports the company’s mission.
Identify how a company can use recruitment and selection to find the best employees.
Describe the components of a company’s compensation system.
Yvon Chouinard’s mantra is “Let my people surf.” What does this mean to Patagonia and its employees?
Patagonia has been recognized for its family-friendly policies? Describe a few of these policies as highlighted in the video. What are the benefits to the company and its employees?
How does the hiring process at Patagonia differ from the procedures used by most organizations? How does this process support the company’s values and work style?
Although Patagonia is considered a great place to work, the company is not a pay leader, often paying slightly less than average wages to employees. Describe Patagonia’s compensation system.
What motivates employees to work for Patagonia?
Explain the concept of marketing and identify the five forces that constitute the external marketing environment.
Explain the purpose of a marketing plan and identify the four components of the marketing mix.
Explain market segmentation and how it is used in target marketing.
Describe the key factors that influence the consumer buying process.
Discuss the three categories of organizational markets.
Explain the definition of a product as a value package and classify goods and services.
Describe the key considerations in the new product development process, and explain the importance of branding and packaging.
Discuss the marketing mix as it applies to international and small business.
What forces in the external environment are influencing the changes in Starbucks’s marketing strategy? Explain.
How are the components of Starbucks’s marketing mix being used for implementing the new marketing strategy?
Identify the main factors favoring success for Starbucks’s crossover into the affordability market. What prominent factors suggest major problems or even failure for this crossover attempt?
Applying this chapter’s definition of product value to Starbucks’s plans, what are the benefits in Starbucks’s affordability offerings? What are the costs?
In what ways, if any, does Starbucks’s plan for closing some existing stores and opening fewer new ones have any impact on the product value of its new affordability products and its more-established luxury products?
What are the key similarities and differences between consumer buying behavior and B2B buying behavior?
Why and how is market segmentation used in target marketing?
How is the concept of the value package useful in marketing to consumers and industrial customers?Questions for Analysis
Select an everyday product (personal fitness training, CDs, dog food, cell phones, or shoes, for example). Show how different versions of your product are aimed toward different market segments. Explain how the marketing mix differs for each segment.
Select a second everyday product and describe the consumer buying process that typically goes into its purchase.
Consider a service product, such as transportation, entertainment, or health care. What are some ways that more customer value might be added to this product? Why would your improvements add value for the buyer?
How would you expect the branding and packaging of convenience, shopping, and specialty goods to differ? Why?Give examples to illustrate your answers.Application Exercises
Select a product made by a foreign company and sold in the United States. What is the product’s target market? What is the basis on which the target market is segmented? Do you think that this basis is appropriate? How might another approach, if any, be beneficial? Why?
Which location did you choose? Describe the segmentation factors that influenced your decision.
Which factors were least important? Why?
Given the factors involved in the consumer buying process, how would you characterize the particular ethical issues in this situation?
From an ethical standpoint, what are the obligations of the sales representative and the sales manager regarding the pricing of the product in this situation?
If you were responsible for maintaining good customer relations at the dealership, how would you handle this matter?
Before hearing any of your group’s comments on this situation, and from the perspective of your assigned role, what do you recommend Denise should say to the two client firms she is scheduled to visit? Write down your recommendation.
Gather your group together and reveal, in turn, each member’s recommendation.
Identify any ethical issues involved in group members’ recommendations. Which issues, if any, are more critical than others?
From an ethical standpoint, what does your group finally recommend Denise should say to the two client firms she is scheduled to visit? Explain your result.
From the standpoint of customer relationship management, identify the advantages and drawbacks resulting from your recommendations.
Understand the importance of branding.
Describe how market segmentation is used to create a target market for a product.
Discuss the components of the value package.
Describe DC Shoes’s target market in terms of age, gender, and lifestyle. How does the company’s marketing mix appeal to this target market?
What are the components of DC Shoes’s value package?
How does DC Shoes use its media arm, DC Films, to attract and retain customers?
How does DC Shoes differentiate themselves from their competition?
Recently, DC Shoes signed skateboarder Chris Cole. How did DC Shoes use buzz marketing before the announcement?
Identify the various pricing objectives that govern pricing decisions, and describe the price-setting tools used in making these decisions.
Discuss pricing strategies that can be used for different competitive situations and identify the pricing tactics that can be used for setting prices.
Explain the meaning of distribution mix and identify the different channels of distribution.
Describe the role of wholesalers and explain the different types of retailing.
Describe the role of e-intermediaries and explain how online shopping agents and online retailers add value for advertisers and consumers on the Internet.
Describe the major activities in the physical distribution process.
Identify the important objectives of promotion, discuss the considerations in selecting a promotional mix, and discuss advertising promotions.
Outline the tasks involved in personal selling, describe the various types of sales promotions, and distinguish between publicity and public relations.
Consider the distribution channel for iTunes music products versus the channels used by brick-and-mortar retail music stores. What are the advantages and disadvantages of those channels?
What is (are) iTunes’s target market(s)? What factors in the marketing environment, if any, are likely to change the target market(s) over the next few years?
What kind of promotional mix(es) would you recommend as most effective for reaching iTunes’s current target market(s)?
In what ways might Apple benefit by jointly advertising its music products together with its digital-music-player products?
Would you advise iTunes to continue with the three-tier pricing system for music products or, instead, return to a one-price policy? Explain.
Explain how e-agents or e-brokers differ from traditional agents or brokers.
Select four advertising media and compare the advantages and disadvantages of each.Questions for Analysis
Choose two advertising campaigns: one that you think is effective and one that you think is ineffective. What makes one campaign better than the other?
Give examples of two products that typify the products sold to shoppers through each form of nonstore retailing. Explain why different products are best suited to each form of nonstore retailing.Application Exercises
Select a product and identify the media used in its promotion. On the whole, do you think the campaign is effective? Why or why not? If the campaign is not effective, what changes would you suggest to improve it?
Consider today’s easy access to online sources of cards and to software for designing and making cards on home PCs.How does the availability of these resources affect your recommendation?
Can a start-up company compete in retail stores against industry giants, such as Hallmark and American Greetings?
If you were appointed to settle this matter, what actions would you take?
Before hearing any of your group’s comments, and from the perspective of your assigned role, do you think there are any ethical issues with J Company’s fundraising program? If so, write them down.
Before hearing any of your group’s comments, and from the perspective of your assigned role, are any problems likely to arise from J Company’s fundraising program? If so, write them down.
Together with your group, share the ethical issues you identified. Then, share the potential problems you listed. Did the different roles you were assigned result in different ethical issues and problems?
For the various ethical issues that were identified,decide as a group which one is the most important for J Company to resolve. Likewise, for potential problems that were identified, which is the most important one for J Company?
From an ethical standpoint, what does your group recommend be done to resolve the most important ethical issue? How should the most important problem be resolved? Identify the advantages and drawbacks of your recommendations.
What are the objectives of promotion? How do each apply to Joby?
How has Joby positioned itself in the market?
Joby’s promotional strategy has de-emphasized television advertising. Why did the company make this decision? Do you think that this will limit sales?
How does Joby use publicity to promote their products? Has this been effective?
What role do trade shows play in Joby’s promotional strategy?
Identify and discuss the basic forms of behaviour that employees exhibit in organizations.
Describe the nature and importance of individual differences among employees.
Explain the meaning and importance of psychological contracts and the person-job fit in the workplace.
Identify and summarize the most important models of employee motivation.
Describe the strategies used by organizations to improve job satisfaction and employee motivation.
Define leadership and distinguish it from management .
Describe the most recent ideas about effective leadership.
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