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marketing management

Marketing Real People Real Choices 10th Edition Solomon, Michael R - Solutions

Ethics Some companies opt to increase the price of certain types of products when there is an increased need for them—think rain ponchos on a rainy day in a theme park.Because consumers need the product immediately, price and quality are typically irrelevant. Explain the potential positive and
Critical Thinking In the Adoption Pyramid, trial is where the company offers demonstrations and samples. What types of products and services do you think would benefit the most from this stage? Do you think customers are more likely to purchase products after sampling?Are there any downsides?
Critical Thinking Products such as tax software (think TurboTax)used to be exclusively produced and sold as a physical item in a box on store shelves. With the advancement of technology, the option to download the software directly to a computer is now available to consumers. How do you think the
What is the decision facing Nature on Tap?Sometimes innovation is less about invention and more about just noticing what’s around you. That’s what organic water company Nature on Tap learned in the creation of their company’s flagship product. Product developers there discovered something
What factors are important in understanding this decision situation?Sometimes innovation is less about invention and more about just noticing what’s around you. That’s what organic water company Nature on Tap learned in the creation of their company’s flagship product. Product developers
What are the alternatives?Sometimes innovation is less about invention and more about just noticing what’s around you. That’s what organic water company Nature on Tap learned in the creation of their company’s flagship product. Product developers there discovered something that consumers
What decision(s) do you recommend?Sometimes innovation is less about invention and more about just noticing what’s around you. That’s what organic water company Nature on Tap learned in the creation of their company’s flagship product. Product developers there discovered something that
What are some ways to implement your recommendation?Digging Deeper into the Case Sometimes innovation is less about invention and more about just noticing what’s around you. That’s what organic water company Nature on Tap learned in the creation of their company’s flagship product. Product
What kind of innovation is tapped birch water—continuous, dynamically continuous, or discontinuous?Sometimes innovation is less about invention and more about just noticing what’s around you. That’s what organic water company Nature on Tap learned in the creation of their company’s flagship
What other innovations should the company pursue to continue growing?Sometimes innovation is less about invention and more about just noticing what’s around you. That’s what organic water company Nature on Tap learned in the creation of their company’s flagship product. Product developers
Perhaps you, like many consumers, may have just become aware of tapped birch water. What could the company do to move consumers higher in the Adoption Pyramid?Sometimes innovation is less about invention and more about just noticing what’s around you. That’s what organic water company Nature on
Explain how marketers increase long-term success and profits by practicing customer relationship management.pp. 148–153 CUSTOMER RELATIONSHIP MANAGEMENT (CRM): A KEY DECISION TOOL FOR MARKETERS p. 148
Understand Big Data, data mining, and how marketers can put these techniques to good use. pp. 153–162 BIG DATA: TERABYTES RULE p. 153
Describe what marketing analytics include and how organizations can leverage both marketing analytics and predictive analytics to improve marketing performance.pp. 163–171 MARKETING ANALYTICS p. 163
Identify how organizations can use marketing metrics to measure performance and achieve marketing control. pp. 172–174 METRICS FOR MARKETING CONTROL p. 172
Understand how to create and use a personal database to manage your career. pp. 174–176
What is CRM? How do firms tie CRM to using data analytics and making decisions? LOL
Explain the concepts of share of customer, customer lifetime value (CLV), and customer prioritization. LOL
How would you describe Big Data? What are some of the most significant sources of competitive advantage that Big Data offers? LOL
Describe the various sources of Big Data for marketers. LOL
What is data mining? What are the primary data types for data mining? For marketers, what are some of the most important applications? LOL
What is the role of the data scientist? What is artificial intelligence? What is machine learning? LOL
What are marketing analytics, and what kinds of insights are enabled by today’s marketing analytics solutions? What are predictive analytics? LOL
What is the difference between purchasing digital advertisements with a cost-per-impression structure versus a cost-per-click structure? Is one better than the other? LOL
Define marketing metrics. How can marketing metrics help marketers understand the performance of different marketing initiatives and provide greater control? LOL
What is search engine optimization? How can it help marketers better reach potential customers? LOL
What is a click-through rate, and how is it calculated? LOL
For Further Research (Individual) For this assignment, you are going to act as a manual version of a software program that conducts sentiment analysis.Select a sample of comments (between five and seven that do not contain any explicit words or expressions)created by users in response to a specific
Creative Homework/Short Project Assume that you are the digital marketing manager for a local law firm that specializes in divorce and auto accident cases. You have decided to implement a search engine optimization campaign to ensure your firm is one of the top listings.Make a list of at least 10
In what ways could Macy’s expect to measure the four elements of CRM within the context of a reward program such as this?
Critical Thinking Are there any potential challenges that would arise from companies using predictive analysis as a key marketing strategy? What are some examples?What are the potential benefits to companies that invest in this form of marketing and do it well?5.21. Ethics The Internet of Things
Ethics Many apps that you use are able to remain free to users through the sale of advertising and by monetizing the data of the individuals using the technology.This includes apps for social media, gaming, and news.Do you feel there is a limit to what information these companies are able to share
Critical Thinking Spending on digital marketing has trended upward in recent years, and with so many individuals using the Internet for extended periods of time, it is easy to understand why. Some organizations spend more than half of their budget on digital marketing.How do you think they justify
Critical Thinking Recently, Equifax was hacked and the data of 145 million customers was compromised, including social security numbers and other personal financial information. How do you think this impacted their image in the minds of customers?Does the type of data (say financial versus
What is the decision facing Spotify?Whether it’s firing us up for a workout or helping mend a broken heart, music can play a meaningful role in our lives.Streaming music market leader Spotify understands this and is using data analytics to connect us to the music they think we’ll love and also
What factors are important in understanding this decision situation?Whether it’s firing us up for a workout or helping mend a broken heart, music can play a meaningful role in our lives.Streaming music market leader Spotify understands this and is using data analytics to connect us to the music
What are the alternatives?Whether it’s firing us up for a workout or helping mend a broken heart, music can play a meaningful role in our lives.Streaming music market leader Spotify understands this and is using data analytics to connect us to the music they think we’ll love and also to connect
What decision(s) do you recommend?Whether it’s firing us up for a workout or helping mend a broken heart, music can play a meaningful role in our lives.Streaming music market leader Spotify understands this and is using data analytics to connect us to the music they think we’ll love and also to
What are some ways to implement your recommendation?Whether it’s firing us up for a workout or helping mend a broken heart, music can play a meaningful role in our lives.Streaming music market leader Spotify understands this and is using data analytics to connect us to the music they think
Review the four steps in one-to-one marketing. How is Spotify doing each of these to support their marketing efforts?
Creative Homework/Short Project. Assume that a firm hires you as marketing manager for a chain of coffee shops. You believe that the firm should develop a CRM strategy. Outline the steps you would take in developing that strategy.
2.1 Understand the big picture of international marketing and the decisions firms must make when they consider globalization. pp. 38–41 TAKE A BOW: MARKETING ON THE GLOBAL STAGE p. 38
2.2 Explain how international organizations such as the World Trade Organization(WTO), the World Bank, the International Monetary Fund (IMF), economic communities, and individual country regulations facilitate and limit a firm’s opportunities for globalization pp. 41–43 UNDERSTAND
2.3 Understand how factors in a firm’s external business environment influence marketing strategies and outcomes in both domestic and global markets.pp. 44–54 ANALYZE THE EXTERNAL MARKETING ENVIRONMENT p. 44
2.4 Explain some of the strategies and tactics that a firm can use to enter global markets.pp. 55–59 HOW “GLOBAL” SHOULD A GLOBAL MARKETING STRATEGY BE? p. 55
2.5 Understand the importance of ethical marketing practices.pp. 59–63 ETHICS IS JOB ONE IN MARKETING PLANNING p. 59
2.6 Explain the role of sustainability in marketing planning. pp. 63–66 SUSTAINABILITY: MARKETERS DO WELL BY DOING GOOD p. 63
2.7 Recognize which industry and which work environment (both domestic and international)are best for you. pp. 66–69
2. What are several of the key specific activities the firm points to as evidence that they are engaged in sustainability-related activities?
3. What specific evidence do they report (i.e., what metrics do you find reported) that quantify their level of success in sustainability?
Explain how companies can judge the economic health of a country. Explain the level of economic development of countries. What is a bottom-of-the-pyramid(BOP) consumer? How do marketers create products specifically targeted for this group?
What types of laws and regulations are in place that govern how American companies operate both in the United States and abroad?
Why is sustainability such an important piece of a company’s overall marketing strategy? What are some ways that companies can incorporate sustainability into each of the Four Ps of marketing?Activities: Apply What You’ve Learned
In Class, 10–25 Minutes for Teams Using the data in Table 2.2, select two countries that are substantially dissimilar from one another. Then, select one of the products below. Use the data for the two countries to develop arguments for why each of the two countries would and would not be a good
For Further Research (Individual) McDonald’s is a company that is all-in globally, having become a staple in over 100 countries around the world. Take a look at the menu items available in four different countries.Why are the offerings so different? Why do you think McDonald’s chose to change
For Further Research (Groups) Assume you are part of a small business in the United States that manufactures portable gas barbecue grills and has decided to enter the global marketplace. What type of market entry strategy would be best suited for your company and why? What decisions should the
How would the success of entry into BRICS markets best be measured by marketers—that is, what metrics would be more useful than the typical metrics used in developed countries? Be creative and develop a list of several possible metrics that firms might use to measure their success in these new
Critical Thinking and Ethics Assume you are the CMO for an athletic shoe company. Over 75 percent of your sales comes from the United States and Europe. You have conducted business with Firm ABC in Guatemala for 30+ years, but recent reports in the world news have suggested that your supplier is
What external factors should Walmart have taken into consideration as they considered their expansion in India?
Many citizens of India fit into the group of consumers known as the bottom of the pyramid (BOP). What strategies could Walmart execute through Flipkart to serve consumers in this group?
Discuss the product objectives and strategies a firm may choose.pp. 296–302 PRODUCT PLANNING: DEVELOP PRODUCT OBJECTIVES AND PRODUCT STRATEGY p. 296
Understand how firms manage products throughout the product life cycle. pp. 303–306 MARKETING THROUGHOUT THE PRODUCT LIFE CYCLE p. 303
Explain how branding and packaging strategies contribute to product identity. pp. 307–316 BRANDING AND PACKAGING:CREATE PRODUCT IDENTITY p. 307
Describe how marketers structure organizations for new and existing product management. pp. 317–318 ORGANIZE FOR EFFECTIVE PRODUCT MANAGEMENT p. 317
Understand how to manage your career so that you will be able to adapt and flourish in a changing work environment. pp. 318–320
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? Appendix
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? Appendix
Explain the product life cycle concept. What are the stages of the product life cycle? Appendix
How are products managed during the different stages of the product life cycle? Appendix
What is a brand? What are the characteristics of a good brand name? How do firms provide legal protection for their brands? Appendix
What is a brand extension? What is sub-branding? Appendix
What are individual and family brands? A national brand? A store brand? Appendix
What does it mean to license a brand? What is cobranding? Appendix
What are the functions of packaging? What are some important elements of effective package design? Appendix
What should marketers know about package labeling? Appendix
Describe some of the ways firms organize the marketing function to manage existing products. What are the ways firms organize for the development of new products?Activities: Apply What You’ve Learned
In Class, 10–25 Minutes for Teams Think of products you are familiar with in the marketplace. Brainstorm with your group and identify at least three products(not specific brands) that fall into each of the product life cycle categories—introduction, growth, maturity, and decline. Are any of the
For Further Research (Individual) The fast-food industry has undergone changes in how it packages its food over the years, now being much more “green” in the materials delivered to customers. Conduct some research to determine how packaging of fast food was handled in the 1970s and 1980s
In Class, 10–25 Minutes for Teams As an entrepreneur, you know you want to open a new unique and innovative food store, but you aren’t sure what kind of products you want to carry. Discuss the importance of national brands, store brands, and generic brands.Which brand or brands will your new
Creative Homework/Short Project Assume that you have been recently hired by Wrigley’s, the chewing gum manufacturer. You have been asked to work on a plan for redesigning the packaging for 5, a brand of sugar-free chewing gum. In a role-playing situation, present the following report to your
What is it about each of your selected brands that attracts your interest? Appendix
What is your opinion about why your selected brand’s equity is what it is and whether it is trending upward or downward? Appendix
Critical Thinking Quality is an important product/service objective, but quality can mean different things for different goods and services, such as durability, precision, aesthetic appeal, and so on. What does quality mean for the following goods/services?a. Smartphoneb. Massagec. Athletic weard.
Critical Thinking Many times firms take advantage of their popular, well-known brands by developing brand extensions because they know that the brand equity of the original or parent brand will be transferred to the new product. If a new product is of poor quality, it can damage the reputation of
Ethics How do you think a company’s behavior toward its customers and its community impact purchase?Have you ever purchased (or not purchased) a brand because of what you knew about their environmental initiatives? How about a firm’s ethical behavior—in advertising, in sales, with its
Critical Thinking There are many products in the marketplace that keep the same packaging year after year, even when there may be a newer best practice. Take a look at the list of products below and think about the brand that you use. Write down any issues you have with the packaging of your
Critical Thinking How do you feel about store brands that design packaging to mimic that of national brands?Should the government place limitations on how similar the packaging can be legally? Why or why not?
Pick up each of three products and study their package design and any information you can find about the product. Now which product are you most likely to buy? Explain why you chose this product.a. Go to a typical supermarket in your community.b. Select two product categories of interest to you:
Present a summary to your class on what you learned about the brands and packaging in your two product categories.a. Go to a typical supermarket in your community.b. Select two product categories of interest to you: ice cream, cereal, laundry detergent, soup, frozen meals, and so on.c. For each
What is the decision facing Blue Diamond?Do you know how many different ways there are to enjoy an almond? According to agricultural cooperative Blue Diamond Growers, quite a few! After several years of brutal drought, recently California’s almond crop finally recovered with a harvest returning
What factors are important in understanding this decision situation?Do you know how many different ways there are to enjoy an almond? According to agricultural cooperative Blue Diamond Growers, quite a few! After several years of brutal drought, recently California’s almond crop finally recovered
What are the alternatives?Do you know how many different ways there are to enjoy an almond? According to agricultural cooperative Blue Diamond Growers, quite a few! After several years of brutal drought, recently California’s almond crop finally recovered with a harvest returning to record levels
What decision(s) do you recommend?Do you know how many different ways there are to enjoy an almond? According to agricultural cooperative Blue Diamond Growers, quite a few! After several years of brutal drought, recently California’s almond crop finally recovered with a harvest returning to
What are some ways to implement your recommendation?Do you know how many different ways there are to enjoy an almond? According to agricultural cooperative Blue Diamond Growers, quite a few! After several years of brutal drought, recently California’s almond crop finally recovered with a harvest
Review Blue Diamond’s product line on their website(www,bluediamond.com). What examples do you see of an upward line stretch?
From the case above and the website, what examples do you see of a filling-out strategy?
What is an additional brand extension that Blue Diamond could develop to leverage the brand’s equity?
Understand the communication process and the traditional promotion mix. pp. 466–474 COMMUNICATION MODELS IN A DIGITAL WORLD THAT IS“ALWAYS ON” p. 466
Describe the steps in traditional and multichannel promotion planning. pp. 474–480 OVERVIEW OF PROMOTION PLANNING p. 474
Explain what advertising is, describe the major types of advertising, discuss some of the major criticisms of advertising, and describe the process of developing an advertising campaign and how marketers evaluate advertising. pp. 480–502 ADVERTISING p. 480

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