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marketing strategy planning
Marketing 17th Edition William M. Pride - Solutions
At various price points, calculate the break-even point for sales of your product.
Discuss the level of elasticity of demand for your product.Is additional information needed for you to determine its elasticity?
Does your company currently compete based on price or nonprice factors? Should your new product continue with this approach?
Is this free site more credible than a “pay” site? Why or why not?
If you wanted to purchase this Lexus, what are the lowest monthly payments you could make over the longest time period?
Find the lowest-priced Lexus available today, and examine its features. Which Lexus dealer is closest to you?
As discussed in this chapter, customers interpret and respond to prices in different ways, depending on the type of product, perceptions of product quality, and the customer’s ability to judge product quality independent of the price. Because customers lack the ability to judge product quality,
Customers’ interpretations and responses regarding a product and its price are an important infl uence on marketers’ pricing decisions. Perceptions of price are affected by the degree to which a customer is value conscious, price conscious, or prestige sensitive. Discuss how value
Price competition is intense in the fast-food, air travel, and personal computer industries. Discuss a recent situation in which companies had to meet or beat a rival’s price in a price-competitive industry. Did you benefi t from this situation? Did it change your perception of the companies
What are the major methods used for transfer pricing?
What is the reason for using the term F.O.B.?
Compare and contrast a trade discount and a quantity discount.
How do legal and regulatory forces infl uence pricing decisions?
What types of expectations may channel members have about producers’ prices? How might these expectations affect pricing decisions?
In what ways do other marketing mix variables affect pricing decisions?
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 charged $18,000 a year for its share of general overhead. Advertising expenditures will be $80,000, and
Explain why optimal profi ts should occur when marginal cost equals marginal revenue.
List the characteristics of products that have inelastic demand, and give several examples of such products.
Why do most demand curves demonstrate an inverse relationship between price and quantity?
Compare and contrast price and nonprice competition.Describe the conditions under which each form works best.
Why are pricing decisions important to an organization?
What is the link between sponsorships of cars and drivers by corporations and promotion of the IRL?
How do driver appearances on television and at public events contribute to promoting the IRL?
How does the IRL utilize the various components of integrated marketing communication?
What are the social and economic benefi ts of the sales opportunities that are provided to women in developing countries?
Why do you think direct selling is even more successful in China than in the United States?
Why are direct selling personal sales representatives legitimate or authentic salespeople?
Do you think that Murray’s Cheese salespeople need extensive motivation and training?
How would you apply the concept of relationship selling to building long-term customers at Murray’s Cheese?
How would you explain the sales presentation that is most effective for selling Murray’s cheese products?
Evaluate each type of consumer sales promotion as it relates to accomplishing your promotional objectives.
Identify the resellers in your distribution channel. Discuss the role that trade sales promotions to these resellers could play in the development of your promotional plan.
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?
Why might fi eld sales professionals object to the use of software from TerrAlign?
Identify three features of TerrAlign software that are likely to benefi t sales managers.
Identify three features of TerrAlign software that are likely to benefi t salespeople.
In the cosmetics industry, sales promotions reign supreme. You manufacture and market organic skin creams, which are sold nationwide at your own “boutiques”inside various department stores. You are considering two different promotions for your newest lotion, which retails for $19.99. The fi rst
Producers use trade sales promotions to encourage resellers to promote their products more effectively. Identify which method or methods of sales promotion a producer might use in the following situations, and explain why the method would be appropriate.a. A golf ball manufacturer wants to
Consumer sales promotions aim to increase sales of a particular retail store or product. Identify a familiar type of retail store or product. Recommend at least three sales promotion methods that could effectively promote the store or product. Explain why you would use these methods.
Leap Athletic Shoe Inc., a newly formed company, is in the process of developing a sales strategy. Market researchers have determined that sales management should segment the market into fi ve regional territories. The sales potential for the North region is $1.2 million; for the West region, $1
Briefl y describe an experience you have had with a salesperson at a clothing store or an automobile dealership.Describe the steps the salesperson used. Did the salesperson skip any steps? What did the salesperson do well?Not so well? Would you describe the salesperson as an order getter, an order
What types of sales promotion methods have you observed recently? Comment on their effectiveness.
For each of the following, identify and describe three techniques and give several examples: (a) consumer sales promotion methods and (b) trade sales promotion methods.
What is sales promotion? Why is it used?
How does a sales manager, who cannot be with each salesperson in the fi eld on a daily basis, control the performance of sales personnel?
What major factors should be taken into account when designing the size and shape of a sales territory?
Explain the major advantages and disadvantages of the three basic methods of compensating salespeople. In general, which method would you prefer? Why?
What major issues or questions should management consider when developing a training program for the sales force?
How should a sales manager establish criteria for selecting sales personnel? What do you think are the general characteristics of a good salesperson?
Identify several characteristics of effective sales objectives.
Why are team selling and relationship selling becoming more prevalent?
Are order getters more aggressive or creative than order takers? Why or why not?
How does a salesperson fi nd and evaluate prospects? Do you consider any of these methods to be ethically questionable? Explain.
Identify the elements of the personal selling process.Must a salesperson include all these elements when selling a product to a customer? Why or why not?
What are the primary purposes of personal selling?
What is personal selling? How does personal selling differ from other types of promotional activities?
What can Toyota do going forward to restore its image?
Why did Toyota have to pull advertising for its cars’dependability, safety, and reliability during a time when it was getting so much public attention for safety recalls related to sudden acceleration?
How is Toyota using advertising to overcome negative publicity associated with a product quality issue?
What does Pepsi gain in trying to encourage consumers to participate in its promotional activities?
Evaluate the public relations project along with why Pepsi decided to resume Super Bowl ads.
How did Pepsi change its advertising focus when it began the Pepsi Refresh Project?
Review Table 18.5 and discuss possible uses for publicity in your promotional plan.
What methods would you use to evaluate the effectiveness of your advertising campaign?
Using Table 18.2 as a guide, evaluate the different types of media and determine which would be most effective in meeting your promotional objectives (from Chapter 17).
Discuss the different methods for determining the advertising appropriation.
What class and type of advertising would be most appropriate for your product?
Identify the advertising objectives LEGO is attempting to achieve through its website.
What target audience is LEGO attempting to reach through its website?
Which type of advertising is LEGO Company using on its website?
College can be an exciting time. New friends, sporting events, parties. But for many, it can also be a harrowing experience, with a more demanding class and homework regimen and new adult responsibilities. In order to help reduce at least one aspect of the stress for your fellow students, you have
Negative public relations can harm an organization’s marketing efforts if not dealt with properly. Identify a company that was recently the target of negative public relations. Describe the situation and discuss the company’s response. What did marketers at this company do well? What, if
Advertisers use several types of publicity mechanisms.Look through some recent newspapers and magazines or use an Internet search engine and identify a news release, a feature article, or a captioned photograph used to publicize a product. Describe the type of product.
Copy, the verbal portion of advertising, is used to move readers through a persuasive sequence called AIDA:attention, interest, desire, and action. To achieve this, some copywriters have adopted guidelines for developing advertising copy. Select a print ad and identify how it (a) identifi es a
An organization must defi ne its objectives carefully when developing an advertising campaign. Which of the following advertising objectives would be most useful for a company, and why?a. The organization will spend $1 million to move from second in market share to market leader.b. The organization
What are some sources of negative public relations? How should an organization deal with unfavorable public relations?
In what ways is the effectiveness of public relations evaluated?
Explain the problems and limitations associated with publicity-based public relations.
How do organizations use public relations tools? Give several examples you have observed recently.
What is public relations? Whom can an organization reach through public relations?
What role does an advertising agency play in developing an advertising campaign?
Discuss several ways to posttest the effectiveness of advertising.
What is the function of copy in an advertising message?
Describe the steps in developing a media plan.
What factors affect the size of an advertising budget? What techniques are used to determine an advertising budget?
What is an advertising platform, and how is it used?
Why is it necessary to defi ne advertising objectives?
What is a target audience? How does a marketer analyze the target audience after identifying it?
What are the major steps in creating an advertising campaign?
What is the difference between competitive advertising and comparative advertising?
What is the difference between institutional and product advertising?
How has Southwest Airlines positioned its advertising by focusing on simple concepts like “Grab Your Bag.It’s On!”?
How does the engaging and entertaining performance of Southwest fl ight crews contribute to promotion activities?
Describe the various promotion elements that Southwest Airlines uses in its integrated marketing communications.
How does Vans continue to capture its target market through integrated marketing?
Why were the early Vans marketing activities related to skateboard shoes so successful?
Evaluate Vans’ early word-of-mouth marketing strategy.
What role should word-of-mouth communications, buzz marketing, or product placement play in your promotional plan?
Which of the four elements of the promotional mix are most appropriate for accomplishing your objectives? Discuss the advantages and disadvantages of each.
What are your objectives for promotion? Use Table 17.2 as a guide in answering this question.
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