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business
marketing strategy planning

Questions and Answers of Marketing Strategy Planning

Discuss the concept of a marketing information system and why it is important for marketing managers to be involved in planning the system.
Some critics argue that the Foreign Corrupt Practices Act puts U.S. businesses at a disa d vantage when competing in foreign markets with suppliers from other countries that do not have similar laws.
The government market is obviously an extremely large one, yet it is often slighted or even ignored by many firms. Red tape is certainly one reason, but there are others. Discuss the situ a tion and
The government market is obviously an extremely large one, yet it is often slighted or even ignored by many firms. Red tape is certainly one reason, but there are others. Discuss the situ a tion and
Considering the nature of retail buying, outline the basic ingredients of promotion to retail buyers. Does it make any difference what kinds of products are involved? Are any other factors relevant?
Explain how NAICS codes might be helpful in evaluating and understanding business ma r kets. Give an example.
Discuss the importance of target marketing when analyzing organizational markets. How easy is it to isolate homogeneous market segments in these markets?
How do you think a furniture manufacturer’s buying habits and practices would be affected by the specific type of product to be purchased? Consider fabric for upholstered furniture, a lathe for the
Would a tool manufacturer need a different marketing strategy for a big retail chain like Home Depot than for a single hardware store run by its owner? Discuss your answer.
Explain why a customer might be willing to work more cooperatively with a small number of suppliers rather than pitting suppliers in a competition against each other. Give an example that illustrates
Discuss the advantages and disadvantages of just-intime supply relationships from an o r ganizational buyer’s point of view. Are the advantages and disadvantages merely reversed from the seller’s
How likely would each of the following be to use competitive bids? ( a ) a small town that needed a road resurfaced, ( b ) a scouting organization that needed a printer to print its scouting
Why would an organizational buyer want to get competitive bids? What are some of the situations when competitive bidding can’t be used?
Describe the situations that would lead to the use of the three different buying processes for a particular product—lightweight bumpers for a pickup truck.
If a nonprofit hospital were planning to buy expensive MRI scanning equipment (to detect tumors), who might be involved in the buying center? Explain your answer and describe the types of influence
Briefly discuss why a marketing manager should think about who is likely to be involved in the buying center for a particular purchase. Is the buying center idea useful in consumer buying? Explain
Compare and contrast the buying behavior of final consumers and organizational buyers. In what ways are they most similar and in what ways are they most different?
In your own words, explain how buying behavior of business customers in different countries may have been a factor in speeding the spread of international marketing.
Interview a friend or family member about two recent purchase decisions. One decision should be an important purchase, perhaps the choice of an automobile, a place to live, or a college. The second
Review the model in Exhibit 5-2 and then reread the Apple case at the beginning of this chapter. List and briefly describe specific points in the case that illustrate the model.
On the basis of the data and analysis presented in Chapter 5, what kind of buying behavior would you expect to find for the following products: ( a ) a haircut, ( b ) a shampoo, ( c ) a digital
Give an example of a recent purchase in which you used extensive problem solving. What sources of information did you use in making the decision?
Give two examples of recent purchases where the specific purchase situation influenced your purchase decision. Briefly explain how your decision was affected.
Illustrate how the reference group concept may apply in practice by explaining how you personally are influenced by some reference group for some product. What are the implications of such behavior
How should social class influences affect the planning of a new restaurant in a large city? How might the four Ps be adjusted?
A supermarket chain is planning to open a number of new stores to appeal to Hispanics in southern California. Give some examples that indicate how the four Ps might be adjusted to appeal to the
Explain psychographics and lifestyle analysis. Explain how they might be useful for planning marketing strategies to reach college students, as opposed to average consumers.
Give an example of a recent purchase experience in which you were dissatisfied because a firm’s marketing mix did not meet your expectations. Indicate how the purchase fell short of your
Briefly describe your own beliefs about the potential value of low-energy compact fluorescent lightbulbs, your attitude toward them, and your intention about buying one the next time you need to
Explain how an understanding of consumers’ learning processes might affect marketing strategy planning. Give an example.
Cut out or photocopy two recent advertisements: one full-page color ad from a magazine and one large display ad from a newspaper. In each case, indicate to which needs the ads appeal.
In your own words, explain economic needs and how they relate to the economic-buyer model of consumer behavior. Give an example of a purchase you recently made that is consistent with the economic
Explain how positioning analysis can help a marketing manager identify target market opportunities.
Consider the market for off-campus apartments in your city. Identify some submarkets that have different needs and determining dimensions. Then evaluate how well the needs in these market segments
Illustrate the concept that segmenting is an aggregating process by referring to the admissions policies of your own college and a nearby college or university.
Explain why segmentation efforts based on attempts to divide the mass market using a few demographic dimensions may be very disappointing.
List the types of potential segmenting dimensions, and explain which you would try to apply first, second, and third in a particular situation. If the nature of the situation would affect your
Explain what market segmentation is.
Distinguish between a generic market and a product market . Illustrate your answer.
Explain General Electric’s strategic planning grid approach to evaluating opportunities
Explain the product-market screening criteria that can be used to evaluate opportunities.
Name three specific examples of firms that developed a marketing mix to appeal to senior citizens.
Discuss the impact of changes in the size and use of technology in the 18–29 age group on marketing strategy planning in the United States.
Discuss how slower population growth will affect businesses in your local community.
Discuss how the worldwide trend toward urbanization is affecting opportunities for international marketing.
Discuss the value of gross domestic product and gross national income per capita as measures of market potential in international consumer markets. Refer to specific data in your answer.
Drawing on data in Exhibit 3-4, do you think that Romania would be an attractive market for a firm that produces home appliances? What about Finland? Discuss your reasons.
For each of the major laws discussed in the text, indicate whether in the long run the law will promote or restrict competition. As a consumer without any financial interest in business, what is your
What and who is the U.S. government attempting to protect in its effort to preserve and regulate competition?
Will the elimination of trade barriers between countries in Europe eliminate the need to consider submarkets of European consumers? Why or why not?
Discuss the probable impact on your hometown if a major breakthrough in air transportation allowed foreign producers to ship into any U.S. market for about the same transportation cost that domestic
The owner of a small hardware store—the only one in a medium-sized town in the mountains—has just learned that a large home improvement chain plans to open a new store nearby. How difficult will
In your own words, explain how a marketing manager might use a competitor analysis to avoid situations that involve head-on competition.
Explain how a firm’s resources may limit its search for opportunities. Cite a specific example for a specific resource.
Specifically, how would various company objectives affect the development of a marketing mix for a new type of Internet browser software? If this company were just being formed by a former programmer
Explain how a firm’s objectives may affect its search for opportunities.
Do you think it makes sense for a firm to base its mission statement on the type of product it produces? For example, would it be good for a division that produces electric motors to have as its
ko, Inc.’s managers are comparing the profitability of a target marketing strategy with a mass marketing “strategy.” The spreadsheet gives information about both approaches. The mass marketing
Give an example of a foreign-made product (other than an automobile) that you pe r sonally have purchased. Give some reasons why you purchased that product. Do you think that there was a good
In your own words, explain several reasons why a marketing manager should co n sider international markets when evaluating possible opportunities.
Explain why a firm may want to pursue a market penetration opportunity before pu r suing one involving product development or diversification.
Explain the major differences among the four basic types of growth opportunities discussed in the text and cite examples for two of these types of opportunities.
In your own words, explain why the book suggests that you should think of marketing strategy planning as a narrowing-down process.
Explain how new opportunities may be seen by defining a firm’s markets more pr e cisely. Illustrate for a situation where you feel there is an opportunity— namely, an unsatisfied ma r ket
Distinguish between an attractive opportunity and a breakthrough opportunity. Give an example.
Research has shown that only about three out of every four customers are, on ave r age, satisfied by a firm’s marketing programs. Give an example of a purchase you made where you were not satisfied
Provide a specific illustration of why marketing strategy planning is important for all businesspeople, not just for those in the marketing department.
Outline a marketing strategy for each of the following new products: ( a ) a radically new design for a toothbrush, ( b ) a new fishing reel, ( c ) a new wonder drug, and ( d ) a new indu s
Distinguish between a strategy, a marketing plan, and a marketing program, illustra t ing for a local retailer.
In your own words, explain what customer equity means and why it is important.
Distinguish between strategy decisions and operational decisions, illustrating for a local retailer.
Evaluate the text’s statement, “A marketing strategy sets the details of implement a tion.”
Explain, in your own words, what each of the four Ps involves.
If a company sells its products only from a website, which is accessible over the Internet to customers from all over the world, does it still need to worry about having a specific ta r get market?
Why is the target market placed in the center of the four Ps in the text diagram of a marketing strategy (Exhibit 2-4)? Explain, using a specific example from your own experience.
Distinguish clearly between mass marketing and target marketing. Use an example.
Distinguish clearly between a marketing strategy and a marketing mix. Use an e x ample.
s problem introduces you to the computer-aided prob lem (CAP) software—which is at the O n line Learning Center for this text—and gets you started with the use of spreadsheet analysis for
Discuss how the micro-macro dilemma relates to each of the following products: high-powered engines in cars, nuclear power, bank credit cards, and pesticides that improve farm production.
Give an example of a recent purchase you made where the purchase wasn’t just a single transaction but rather part of an ongoing relationship with the seller. Discuss what the seller has done (or
What are examples of the benefits that you can provide to a prospective employer in your field? What are examples of the costs that employer would incur if they hired you? How do you think you can
Give examples of some of the benefits and costs that might contribute to the customer value of each of the following products: (a) a wristwatch, (b) a weight loss diet supplement, (c) a cruise on a
Explain why a firm should view its internal activities as part of a total system. Illu s trate your answer for ( a ) a large grocery products producer, ( b ) a plumbing wholesaler, ( c ) a d e
Distinguish between production orientation and marketing orientation, illustrating with local examples.
Define the marketing concept in your own words, and then suggest how acceptance of this concept might affect the organization and operation of your college.
Define the marketing concept in your own words, and then explain why the notion of profit is usually included in this definition.
Explain why a market-directed macro-marketing system encourages innovation. Give an example.
Would the functions that must be provided and the development of wholesaling and retailing systems be any different in a command economy from those in a market-directed eco n omy?
Distinguish between how economic decisions are made in a command economy and how they are made in a market-directed economy.
Explain why a small producer might want a marketing research firm to take over some of its informationgathering activities.
Online computer shopping at websites makes it possible for individual consumers to get direct information from hundreds of companies they would not otherwise know about. Co n sumers can place an
Define the functions of marketing in your own words. Using an example, explain how they can be shifted and shared.
Describe a recent purchase you made. Indicate why that particular product was available at a store and, in particular, at the store where you bought it.
Refer to Exhibit 1-1, and give an example of a purchase you made recently that i n volved separation of information and separation in time between you and the producer. Briefly e x plain how these
Distinguish between the micro and macro views of marketing. Then explain how they are interrelated, if they are.
List your activities for the first two hours after you woke up this morning. Briefly indicate how marketing affected your activities.
If a producer creates a really revolutionary new product and consumers can learn about it and purchase it at a website, is any additional marketing effort really necessary? Explain your thinking.

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