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Business Essentials 12 Global Edition Ronald J. Ebert, Ricky W. Griffin - Solutions
Newspapers, milk, and fast food are all examples of convenience goods and services. What is it about these types of products and services that categorize them as such?
Discuss the choice between fixed and dynamic pricing for online businesses.
How is market share calculated, and what does it reveal to an organization?
What forms of research would app developers and marketers need to undertake before introducing an app in your country?
Analyze the consumer buying influences that may encourage a person to use fitness apps.
Explain the type of market segmentation strategy that can be applied to the health-and-fitness industry.
What environmental factors have contributed to the rapid growth of fitness apps in last few years?
How would you describe the value that fitness apps provide to their users? What needs and wants are these apps fulfilling?
How would you describe The Luxury Closet’s marketing philosophy in terms of utility offered to its customers?Discuss the marketing mix of The Luxury Closet as a start-up.
Describe the consumer’s buying process for someone purchasing online luxury products. How do photos and videos fit within the process?
Describe The Luxury Closet’s segmentation and targeting strategy. What was its value proposition to its target customers?
What factors in the external environment encouraged Kunal Kapoor to launch The Luxury Closet? Assess the opportunities and challenges that the environment presented.
If you were the marketing manager, how would you handle this situation?
From an ethical standpoint, what are the obligations of the marketing manager and the risk control manager regarding the introduction of the product in this situation?
How would you characterize the particular ethical issues in this situation?
As a group, discuss how you would present the information to distributors and any advice you would give them about the marketing campaign.
Share your thoughts about the psychographic variables and develop a profile of the target market.
Have each group member identify the key psychographic variables that the target market is likely to have.
Identify the typical demographic variables of the target markets. Make sure that you cover age, education, family life cycle, family size, income, nationality, race, religion, and gender. Does the group agree on the profiles?
Are there any other individuals or groups that might have an influence on the buying decision?
As a group, describe the characteristics, wants, and needs of the target market.
Develop a preliminary design of the marketing mix for your target market(s). Retain the design for carryover and refinement in the following marketing chapters.
Consider, again, the customers in your target market(s).Are they individual consumers, organizations, or a mix of both consumers and organizations? Describe in detail the buying process(es) you expect them to use for purchasing your product(s). Discuss whether the customer buying process should or
Discuss how your team is going to identify the existing competitors in your chosen market. Based on the discussion, what are the key elements of your marketing plans that will give you a competitive edge over those competitors?
Identify the target market(s) for your business. Who are your customers? Describe the characteristics of customers in your target market(s).
Develop a “Statement of Marketing Objectives” for your company. Justify those marketing objectives by explaining how they contribute to the overall business mission of the company.
Secondary research can reveal a great deal about the competitive environment in which businesses operate.Government statistics are a great source of free data.If you were researching your country’s competiti environment for businesses, where would you look? What data would be useful? How
Identify a company with a product that interests you.Consider ways the company could use customer relationship management (CRM) to strengthen relationships with its target market. Specifically, explain your recommendations on how the company can use each of the four basic components of the
Choose an existing product that could benefit from viral marketing. Once you have identified the product, describe how you would use viral marketing to increase demand for the product.
A small business in a highly competitive market has priced its products too low. It is hemorrhaging money. What would you suggest that it do to salvage the situation?
Consider the last major purchase you made and comment on your experience of using the decision steps featured in this chapter. Be as objective as possible and identify the stages.
Select a tech product (cell phone, laptop, tablet, etc.).Outline the four key areas of utility of that product.Explain how it addresses each of the four elements.
Why is post-purchase evaluation by customers important to marketers even though the sale has been made?
What is product positioning, and how does it differ from market segmentation?
What is the difference between data mining and data warehousing?
What are the five forces in the external marketing environment?
As you learned in this chapter, incentive programs are special programs designed to motivate high performance.What incentives will you use to motivate your workforce?
A major factor in retaining skilled workers is a company’s compensation system—the total package of rewards it offers employees in return for their labor. Part of this compensation system includes wages or salaries. What wages or salaries will you offer for each job? Why did you decide on that
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 this chapter.Will you offer your employees on-the-job training? Offthe-job training? Vestibule training?
Next, create a job specification for each job, listing the skills, 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 composing an ad for the position. What would the new employee need to
Looking back at your organizational chart in Part 2, briefly create a job description for each team member.Hint: As you learned in this chapter, a job description lists the duties and responsibilities of a job; its working conditions; and the tools, materials, equipment, and information used to
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.
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 8
What challenges might you face as a manager working in this environment? How could you overcome these challenges?
What types of policies and benefits do you believe are most supportive of work/life balance?
What trade-offs is SAS making to offer the benefits and culture described?
After reading about SAS Institute, what would appeal to you most about working there?
If you were an employee of the Accor Hotels Group, given its customer-centric strategy, how would you expect your performance appraisal to be conducted?Would it be relevant to use both objective and judgmental methods in this performance appraisal? Why?
As an HR executive at the Accor Hotels Group, you need to identify employees with high potential to become future leaders who embody the strategic approach of the Sofitel brand toward the customer’s experience and to develop a training program for them. Briefly outline your action plan for
How does an initiative like Discovery Night positively impact the HR supply-and-demand management in the Accor Hotels Group? Why can this initiative be considered a recruitment tool? To what extent does such an initiative contribute to employees’ training? If you were an HR executive in another
What do you think most workers would do in this situation?What would you do?
What are the basic arguments for and against extreme measures to fight unionization efforts?
What are the ethical issues in this situation?
Now that you have decided which two stores to close, you must decide how you will go about this. How will you handle the redundancies? What packages should you offer the employees? How should you handle the PR regarding the closures?
Finally, develop a group recommendation about the order in which two stores should be closed.
Have each team member discuss their recommendation with the group, justifying their decision on the basis of both ethical and legal considerations.
Working individually, develop a recommendation about which two stores should be closed.
As a group, discuss the underlying legal and ethical issues in this situation. What laws must be considered before making this decision?
Describe your system for performance appraisal and training. How will you reward good employees? When you have weak employees, how will you change their behavior?
What types of benefits will you offer to employees?Understanding the high cost of benefits, how have you selected these benefits?
How will employees be compensated in your company?How do you think that this compensation system will reflect your company’s mission and goals?
Ideally, you will be able to select from many applicants for jobs within your company. How will you select the best employee from the pool of applicants?
As your new venture grows, you will need to hire employees. How will you recruit people to apply for jobs within your organization?
Interview the HR manager at a local company about current hiring processes. Describe how the department recruits employees to apply for jobs, the steps in the selection process, and the orientation program for new employees.
Go online and search for at least three companies that are considered great places to work. Describe the compensation, benefits, and perks at each of these companies. Of the three, which is most appealing to you, and why?
How much will benefit considerations affect your choice of an employer after graduation? What types of benefits would be most and least appealing to you, and why?
What are distinct challenges of managing knowledge workers?
It is not always appropriate or fair to offer performancerelated pay for all jobs and positions. Other bonus systems work better for certain job roles and positions.Why is this the case? Are the alternatives fair? Should the bonuses be solely based on profit generation?
What is the value of internal recruitment? Why would an organization consider internal recruitment essential in some cases?
What is workforce diversity? Why are many organizations keen to make sure they have workforce diversity?
What are company-wide incentive schemes? Give three examples of plans that are used by some organizations.
Why might an organization choose to run vestibule training? Under what kind of circumstances is it likely to be used?
What is a realistic job preview, and why is it considered a vital part of external recruiting by many organizations?
How does a leader differ from a manager? Describe the situational approach to leadership and three major theories within this category. How would the path–goal theory help you identify the most appropriate leadership style in a situation?
Do you think that you would have enjoyed working for Apple during Jobs’s leadership? Why, or why not?
Describe Jobs with respect to intuition, escalation of commitment, and risk propensity.
What challenges face employees working for a leader such as Jobs?
Jobs enjoyed almost cult-like loyalty among his employees.Why do you think people clamored to work for Apple under Jobs’s leadership?
Do you think Steve Jobs was a charismatic leader? What leads you to this conclusion?
What are three important lessons from Smith’s career path?
Do you believe that Smith’s gender played a part in his success? Why or why not?
How would you describe Brad Smith’s leadership style?
What personal traits does Brad Smith possess that aid him as a leader?
What would you do to make sure this never happened again?
What do you think most managers would do in this situation?
What are the ethical issues in this situation?
Select the most appropriate leadership style and develop a justification for your decision.
As a group, develop a list of advantages and disadvantages of each approach.
Assemble your group and share your assignment perspectives.
What are the most important aspects of the leadership approach? How can it be used to identify outstanding leaders capable of becoming CEOs?
As your business venture gets off the ground, you will have to make many important decisions. Will you rely more heavily on rational decision making or intuition?Why?
Are there any leadership neutralizers that could derail your new effort?
What leadership substitutes could support your business venture as you get started?
Which types of power will be most important to the leader of your business venture?
How will you select a leader for your organization?What traits or characteristics will be most important to you when selecting a leader?
In 2017, Bethlehem Tilahun Alemu, an Ethiopian businessperson, entrepreneur, and founder of soleRebels, was named African Female Leader of the Year. Research Alemu’s career. What type of leader is she? How would you describe her leadership style? Do you think she is an effective leader? As an
Overwhelmingly, the CEOs of the largest companies in the United States are white males, but women and minorities are making inroads. Identify a leader who is a member of a minority group and describe the challenges that he or she faced and overcame.
Identify a leader who you believe exhibits charismatic leadership and explain the behaviors that support this conclusion.
The impact of virtual leadership is likely to grow in the future. As a potential “follower” in a virtual leadership situation, what issues would be of most concern to you?What would the issues be from the perspective of the“leader” role in such a situation?
In terms of cross-cultural leadership, how would you characterize the key cultural differences between countries like the United States and Japan?
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