Questions and Answers of Foundations of Marketing

Describe the similarities and differences among a free trade area, a customs union, a common market, and an economic union. Give an example of each.
1. What critical-thinking issues are raised by this case?2. Japanese rice farmers are opposed to Japan joining the TPP. Why?Now, officials on both sides are attempting to forge a “transformative,
Explain the role of the World Trade Organization. Why has the Doha Round of trade talks stalled?
India is not included in the Big Mac Index. Can you explain why? Using the following data, compute the price of a Big Mac in Norway, Thailand, and Mexico. What is the equivalent price in dollars? Is
A friend is distressed to learn that America’s merchandise trade deficit hit $700 billion in 2013. You want to cheer your friend up by demonstrating that the trade picture is not as bleak as it
When the first edition of this textbook was published in 1996, the World Bank defined €œlow-income country€ as one with per capita income of less than $501. In 2003, when the
The Heritage Foundation’s Index of Economic Freedom is not the only ranking that assesses countries in terms of successful economic policies. For example, the World Economic Forum (WEF;
Turn to the Index of Economic Freedom (Table 2-3) and identify where the BRICS nations are ranked. How should global marketers use the Index as a guide to global market opportunities?Table 2-3 Index
What knowledge and skills are required to be successful as a credit risk analyst?Glynis Gallagher works as a contracts analyst at Cargill Risk Management, which is a business unit within Cargill.
Why are Brazil, Russia, India, China, and South Africa (BRICS) highlighted in this chapter? Identify the current stage of economic development for each BRICS nation.
1. President Chavez held office for 14 years, despite all the shortages in Venezuela’s economy. How do you explain this?2. Can Venezuela afford to maintain its Petrocaribe program of subsidized oil
There’s a saying in the business world that “nothing fails like success.” Take Gap, for example. How can a fashion retailer that was once the source for wardrobe staples such as chinos and
Define leverage and explain the different types of leverage available to companies with global operations.
Identify and briefly describe some of the forces that have resulted in increased global integration and the growing importance of global marketing.
Discuss the differences between the global marketing strategies of Harley Davidson and Toyota.
UK-based Burberry is a luxury fashion brand that appeals to both genders and to all ages. To improve Burberry’s competitiveness in the luxury goods market, CEO Christopher Bailey recently updated
1. In 2013, Apple introduced the iPhone 5c to attract consumers who were not willing or able to pay a premium for an Apple device. The price was about $100 less than the top-of-the-line 5s. Was this
1. Identify the key elements in McDonald€™s global marketing strategy. Despite a slowdown in global fast-food consumption, McDonald€™s continues to be a success story. What is the
What is meant by “global localization”? Is Coca-Cola a global product? Explain.
1. Anheuser-Busch (A-B), which has been described as “an American icon,” is now under the ownership of a company based in Belgium. Responding to reports that some consumers planned to boycott
Describe how Nederlander’s strong customer relationship management results in increased loyalty to the organization.
What class and type of advertising would be most appropriate for your product?
What role does word of mouth play in Pepe’s integrated marketing communications?
What role should word-of-mouth communications, buzz marketing, or product placement play in your promotional plan?
What type(s) of location do you think would be most appropriate for future L.L.Bean stores, and why?
In what ways are Taza’s distribution efforts influenced by the fact that its products are organic?
In what ways does Taza benefit from selling directly to some consumers? What are some potential problems of selling directly to consumers?
Which distribution channels does Taza use, and why are they appropriate for this company?
Determine the level of distribution intensity that is appropriate for your product. Consider the characteristics of your target market(s), the product attributes, and environmental factors in your
Marketing intermediaries perform many activities. Using Table 13.1 as a guide, discuss the types of activities where a channel member could provide needed assistance.
Review the various types of pricing strategies. Which of these is the most appropriate for your product?
Using Figure 11.1 as a guide, discuss how your product idea would move through the stages of new-product development. Examine the idea, using the tests and analyses included in the new-product
Identify whether your product will be a modification of an existing one in your product mix or the development of a new product.
No matter what marketing media are used, determining the correct marketing mix for your company is always important. Think about how social media might affect the marketing mix.
Name and describe the major ethical and legal issues that have developed in response to the Internet. How should policymakers address these issues?
Describe the different technographic segments. How can marketers use this segmentation in their strategies?
How has new media changed consumer behavior? What are the opportunities and challenges that face marketers with this in mind?
Why are social networks becoming an increasingly important marketing tool? Find an example online in which a company has improved the effectiveness of its marketing strategy by using social networks.
How does e-marketing differ from traditional marketing?
What should evo's marketing strategy be to go global?
What are both the positive and negative outcomes from using exclusive dealer agreements that restrict global distribution?
What are the primary concerns of business customers? Could any of these concerns be addressed with the strengths of your company?
In terms of situational influences and level of involvement, what are the benefits of mobile pay?
What type of targeting strategy is being used for your product? Should a different targeting strategy be employed?
How have stores used marketing research findings to tailor their stores and products to appeal to Baby Boomers?
How does TOMS’s business model relate to the understanding of stakeholders and strategic philanthropy?
Conduct a brief technology assessment, determining the impact that technology has on your product, its sale, or use.
Using the information from your SWOT analysis, have you identified any opportunities that are a good match with your company’s core competencies? Likewise, have you discovered any weaknesses that
How does Nederlander’s Audience Rewards program result in a competitive advantage?
Why do you think more targeted promotional efforts such as personal selling and sales promotion are necessary for Nederlander’s specific target market?
Evaluate each type of consumer sales promotion as it relates to accomplishing your promotional objectives.
Review the various types of salespeople described in this chapter. Given your promotional objectives (from Chapter 17), do any of these types of salespeople have a place in your promotional plan?
What major factors should be taken into account when designing the size and shape of a sales territory?
Identify several characteristics of effective sales objectives.
Describe the different types of support personnel.
What is personal selling? How does personal selling differ from other types of promotional activities?
Evaluate free pizza as a form of sales promotion in Pepe’s success.
What are the various promotion elements that Pepe’s uses to communicate with customers?
Which of the four elements of the promotional mix are most appropriate for accomplishing your objectives? Discuss the advantages and disadvantages of each.
Review the communication process in Figure 15.1. Identify the various players in the communication process for promotion of your product.
Do you think L.L.Bean’s website will ever entirely take the place of its mail-order catalog? Why or why not?
What forms of direct marketing does L.L.Bean employ? Which additional forms of direct marketing should L.L.Bean consider using?
Discuss how the characteristics of the retail establishment, such as location and store image, have an impact on the consumer’s perception of your product.
If your product will be sold to the ultimate customer, what type of retailing establishment is most suitable to your product? Consider the product’s characteristics and your target market’s
Considering your product’s attributes and your target market’s (or markets’) buying behavior, will your product likely be sold to the ultimate customer or to another member of the marketing
Under what conditions are tying agreements, exclusive dealing, and dual distribution judged illegal?
Identify and describe the factors that may influence marketing channel selection decisions.
Identify the eight stages in the process of establishing prices.
What are the benefits of cost-based pricing?
Why should a marketer be aware of competitors’ prices?
Why should a marketer be aware of competitors’ prices?
Chambers Company has just gathered estimates for conducting a break-even analysis for a new product. Variable costs are $7 a unit. The additional plant will cost $48,000. The new product will be
Using Table 12.1 as a guide, discuss each of the pricing objectives in the chapter. Which pricing objectives will you use for your product? Consider the product life cycle, competition, and product
In the pursuit of profits, how might Urban Farmz use a combination of cost-based, demand-based, and competition-based pricing for the products it sells? Explain your answer.
Urban Farmz wants to price the organic soap at $15.95 per bar, while the soap maker prices the same soap at $14 per bar. What perceptions do you think consumers will have of each price? What
Would you recommend that Urban Farmz use promotional pricing at the farmers’ markets where it regularly sells its products? If so, which techniques would you suggest, and why?
List several reasons consumers often blame intermediaries for distribution inefficiencies.
Describe an industrial distributor. What types of products are marketed through an industrial distributor?
Under what conditions is a producer most likely to use more than one marketing channel?
Discuss the different methods for determining the advertising appropriation.
What methods would you use to evaluate the effectiveness of your advertising campaign?
Why is the Food Network such an important venue for many advertisers?
Describe some of the ways that Scripps uses product placement on the Food Network.
Why do you think even non-food advertisers are attracted to the Food Network?
What are the primary purposes of personal selling?
If the product is an extension of one in your current product mix, determine the type(s) of modifications that will be performed.
Create a brief profile of the type of consumer who is likely to represent each of the product adopter categories for your product.
Discuss how the profitability of your product will change as it moves through each of the phases of the product life cycle.
Using Figure 10.2 as a guide, create a matrix of the current product mix for your company.
How does Zappos use digital media to create an authentic relationship with consumers?
How does Zappos encourage word-of-mouth marketing through digital media?
Describe some ways in which Zappos uses digital media tools.
Review the key concepts of addressability, interactivity, accessibility, connectivity, and control in Table 9.1, and explain how they relate to social media. Think about how a marketing strategy
How has digital media affected the pricing of products? Give examples of the opportunities and challenges presented to marketers in light of these changes.
Describe how social media affects the push-pull dynamic of distribution?
What are some of the product issues that you need to consider when marketing luxury automobiles in Australia, Brazil, Singapore, South Africa, and Sweden?
If you were asked to provide a small tip (or bribe) to have a document approved in a foreign nation where this practice is customary, what would you do?
Why are the largest industrial corporations in the United States so committed to international marketing?
Which concerns of business customers should Dale Carnegie’s marketers pay close attention to when selling training services to a company like American Express?
From a marketing perspective, why would people who work for the U.S. Department of Veteran Affairs be as interested in taking a Dale Carnegie course as people who work for American Express?

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