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marketing strategy planning
Marketing 17th Edition William M. Pride - Solutions
What are the commonly used methods of business buying?
List several characteristics that differentiate transactions involving business customers from consumer transactions.
What are the primary concerns of business customers?
Why might business customers generally be considered more rational in their purchasing behavior than ultimate consumers?
Identify, describe, and give examples of the four major types of business markets.
Why would consumers continue spending on their pets even during an economic downturn? Explain your answer in terms of consumer buying behavior concepts.
During which stages of the buying decision process would you expect the educational resources of Dog College and Cat College to have the most infl uence on consumers’behavior?
Which of the psychological infl uences on pet owners should marketers at Iams and Eukanuba pay particular attention to, and why?
Why would Starbucks want customers to know that it believes in social responsibility?
With Evolution Fresh, which psychological infl uences on consumer buying decisions does Starbucks seem to be addressing?
In terms of situational infl uences and level of involvement, what are the benefi ts of mobile pay?
Identify the reference groups or subcultures that may infl uence your target market’s product selection.
Using Table 7.2, what types of family decision making, if any, would your target market(s) use?
Determine the evaluative criteria that your target market(s)would use when choosing between alternative brands.
See Table 7.1.What type of decision making are your customers likely to use when purchasing your product?
Discuss the consumer buying decision process as it relates to a decision to purchase from Amazon.
Is the consumer’s level of involvement with an online book purchase likely to be high or low?
What might motivate some consumers to read a “Top Selling” list?
Assume that Reebok has developed two new types of athletic shoes. One is designed for distance runners, and the other has been developed for teenage skateboarders.As a marketer, you need to evaluate the potential psychological infl uences for each of these distinct target markets.Rank each of the
Select fi ve brands of toothpaste and explain how the appeals used in advertising these brands relate to Maslow’s hierarchy of needs.
An individual’s roles infl uence that person’s buying behavior. Identify two of your roles, and give an example of how they have infl uenced your buying decisions.
Attitudes toward products or companies often affect consumer behavior. The three components of an attitude are cognitive, affective, and behavioral. Briefl y describe how a beer company might alter the cognitive and affective components of consumer attitudes toward beer products and toward the
The consumer buying process consists of fi ve stages:problem recognition, information search, evaluation of alternatives, purchase, and postpurchase evaluation. Not every buying decision goes through all fi ve stages, and the process does not necessarily conclude in a purchase. Interview a
Consumers use one of three decision-making processes when purchasing goods or services: routinized response behavior, limited decision making, or extended decision making. Describe three buying experiences you have had (one for each type of decision making), and identify which decision-making type
What is consumer misbehavior? Describe the various forms of consumer misbehavior.
Describe the subcultures to which you belong. Identify buying behavior that is unique to one of your subcultures.
What is culture? How does it affect a person’s buying behavior?
In what ways does social class affect a person’s purchase decisions?
How might consumer behavior be infl uenced by digital networks?
How does an opinion leader infl uence the buying decision process of reference group members?
What are reference groups? How do they infl uence buying behavior? Name some of your own reference groups.
What are family infl uences, and how do they affect buying behavior?
How do roles affect a person’s buying behavior? Provide examples.
In what ways do lifestyles affect the consumer buying decision process?
Why are marketers concerned about consumer attitudes?
How do marketers attempt to shape consumers’ learning?
What is selective exposure? Why do people engage in it?
What are the categories of situational factors that infl uence consumer buying behavior? Explain how each of these factors infl uences buyers’ decisions.
Name the types of consumer decision-making processes. List some products you have bought using each type. Have you ever bought a product on impulse? If so, describe the circumstances.
How does a consumer’s level of involvement affect his or her choice of decision-making process?
What are the major stages in the consumer buying decision process? Are all these stages used in all consumer purchase decisions? Why or why not?
What specifi c types of data should Marriott have in its customer database for segmentation purposes?
As Marriott builds more green hotels, should it reposition its hotel brands as being environmentally friendly? Why or why not?
Which of the three targeting strategies is Marriott using?Explain your answer.
How is Marriott segmenting the market for hotel services?
If marketers at Trek were trying to determine anticipated sales for a specifi c period, what method of forecasting would they be using?
Identify the segmentation variables that Trek is applying to consumer markets. What additional variables would you suggest that it apply, and why?
Is Trek using an undifferentiated, concentrated, or differentiated strategy for targeting? How do you know?
Raleigh sells exclusively through retail dealers, not directly to consumers. How does this affect its ability to segment the bicycle market using geographic variables?
How would you describe Raleigh’s positioning for its steel-frame bicycles?
Of the four categories of variables, which is most important to Raleigh’s segmentation strategy, and why?
Discuss how your product should be positioned in the minds of customers in the target market relative to the product positions of competitors.
Select and justify the segmentation variables that are most appropriate for segmenting the market for your product. If your product is a consumer product, use Figure 5.3 for ideas regarding the most appropriate segmentation variables. If your marketing plan focuses on a business product, review the
What type of targeting strategy is being used for your product? Should a different targeting strategy be employed?
How does iExplore appeal to comparison shoppers?
What market segments does iExplore appear to be targeting with its website? What segmentation variables is the company using to segment these markets?
Based on the information provided at the website, what are some of iExplore’s basic products?
Despite the use of cell phones to tell the time these days, the U.S. watch market is still worth about $10 billion.A new watch company that manufactures classic American watches in the style of the Elgin and Hamilton brands has been segmenting the U.S watch market. It has identifi ed the following
If you were using a time series analysis to forecast sales for your company for the next year, how would you use the following sets of sales fi gures?a. 2003 $145,000 2008 $149,000 2004 $144,000 2009 $148,000 2005 $147,000 2010 $180,000 2006 $145,000 2011 $191,000 2007 $148,000 2012 $227,000b. 2010
The car market may be segmented according to income and age. Discuss two ways the market for each of the following products might be segmented.a. Candy barsb. Travel servicesc. Bicyclesd. Cell phones
Generally, marketers use one of three basic targeting strategies to focus on a target market: undifferentiated, concentrated, or differentiated. Locate an article that discusses the target market for a specifi c product. Describe the target market, and explain the targeting strategy used to reach
Cable channels, such as Lifetime and Spike TV, each target a specifi c market segment. Identify another product marketed to a distinct target market. Describe the target market, and explain how the marketing mix appeals specifi cally to that group.
Under what conditions might a fi rm use multiple forecasting methods?
Under what conditions are market tests useful for sales forecasting? What are the advantages and disadvantages of market tests?
What are the two primary types of surveys a company might use to forecast sales? Why would a company use an outside expert forecasting survey?
What is a sales forecast? Why is it important?
Why is selecting appropriate target markets important for an organization that wants to adopt the marketing concept philosophy?
Why is a marketer concerned about sales potential when trying to select a target market?
Describe the important factors that marketers should analyze to evaluate market segments.
What is a market segment profi le? Why is it an important step in the target market selection process?
Defi ne geodemographic segmentation. Identify several types of fi rms that might employ this type of market segmentation, and explain why.
What dimensions are used to segment business markets?
Identify and describe four major categories of variables that can be used to segment consumer markets. Give examples of product markets that are segmented by variables in each category.
List the differences between concentrated and differentiated strategies, and describe the advantages and disadvantages of each.
What is market segmentation? Describe the basic conditions required for effective segmentation. Identify several fi rms that use market segmentation.
What is an undifferentiated strategy? Under what conditions is it most useful? Describe a present market situation in which a company is using an undifferentiated strategy. Is the business successful? Why or why not?
Outline the fi ve major steps in the target market selection process.
In your local area, identify a group of people with unsatisfi ed product needs who represent a market. Could this market be reached by a business organization? Why or why not?
What is a market? What are the requirements for a market?
How has Threadless eliminated the cost of test marketing?
How does Threadless create the equivalent of an online focus group to provide feedback on designs?
How has Threadless used crowdsourcing as the foundation of its marketing research?
How have stores used marketing research fi ndings to tailor their stores and products to appeal to Baby Boomers?
How has the marketing research process been used to understand how Baby Boomers shop and interact in stores?
Why are Baby Boomers such a lucrative market?
Using Table 5.4, choose the appropriate survey method(s)you would use to collect primary data for one of your information needs. What sampling method would you use?
Determine whether or not this information can be obtained from secondary sources. Visit the websites provided in Table 5.3 as possible resources for the secondary data.
Defi ne the nature and scope of the questions you must answer with regard to your market. Identify the types of information you will need about the market to answer those questions. For example, do you need to know about the buying habits, household income levels, or attitudes of potential
ESOMAR introduced the fi rst professional code of conduct for marketing research professionals in 1948. The association continues to update the document to address new technology and other changes in the marketing environment. According to ESOMAR’s code, what are the specifi c professional
How can ESOMAR help marketers to protect the privacy of research subjects when conducting marketing research in other countries?
How can ESOMAR help marketing professionals conduct research to guide marketing strategy?
You work as a marketing researcher for a manufacturer of energy drinks. Your company is designing a new product that will be targeted at college and university students. In order to learn more about their energy drink habits, the company plans to conduct a survey. After conducting some research,
Suppose you are opening a health insurance brokerage fi rm and want to market your services to small businesses with fewer than 50 employees. Determine which database for marketing information you will use in your marketing efforts, and explain why you will use it.
Input for marketing information systems can come from internal or external sources. ACNielsen Corporation is the largest provider of single-source marketing research in the world. Identify two fi rms in your city that might benefi t from internal sources and two that might benefi t from external
When a company wants to conduct research, it must fi rst identify a problem or possible opportunity to market its goods or services. Choose a company in your city that you think might benefi t from a research project. Develop a research question and outline a method to approach this question.
After observing customers’ traffi c patterns, Bashas’ Markets repositioned the greeting card section in its stores, and card sales increased substantially. To increase sales for the following types of companies, what information might marketing researchers want to gather from customers?a.
How does marketing research in other countries differ from marketing research in the United States?
What role do ethics play in marketing research? Why is it important that marketing researchers be ethical?
How can marketers use online services and the Internet to obtain information for decision making?
Defi ne a database. What is its purpose, and what does it include?
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