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marketing research
Marketing Real People Real Choices 9th Global Edition Michael Solomon, Greg Marshall, Elnora Stuart - Solutions
What is a marketing plan, and how does it differ from a business plan? LO-7
Describe the three levels of business planning: strategic, functional, and operational planning. LO-7
What is a mission statement? What is a SWOT analysis? What role do these play in the planning process? LO-7
What is a strategic business unit (SBU)? how does strategic planning differ at the corporate and the SBU levels? LO-7
Describe the five steps in the strategic planning process. LO-7
how do firms use the BCG model for portfolio analysis in planning for their SBUs? LO-7
Describe the four business growth strategies: market penetration, product development, market development, and diversification. LO-7
Explain the four steps in the market planning process. LO-7
What is return on marketing investment (rOMI)? how does considering marketing as an investment instead of an expense affect a firm? LO-7
Give several examples of marketing metrics. how might a marketer use each metric to track progress of some important element of a marketing plan? LO-7
What is an action plan? Why are action plans such an important part of market planning? Why is it so important for marketers to break the implementation of a marketing plan down into individual elements through action plans? LO-7
how does operational planning support the marketing plan? LO-7
Creative Homework/Short Project Accor hotels is a French-based corporation that operates a multi-brand hotel strategy in almost 100 countries. They operate a number of well-known hotel chains that range from budget to very exclusive. Via their website, review Accor’s current business portfolio
For Further Research (Groups) Identify a large company, like Disney, that has several SBUs. Using the BCG model, assign at least one SBU to each category in the model:star, cash cow, question mark, and dog. Include at least two pieces of data for each to justify your
Critical Thinking In today’s dynamic world, the marketing environment appears to be changing faster than ever, particularly with regard to technology and related customer lifestyles. Do you think that a structured approach to developing marketing plans is beneficial for the success of an
The Boston Consulting Group (BCG) growth–market share matrix identifies SBUs and their related products as stars, cash cows, question marks, and dogs. Do you think this is a useful way for organizations to examine their businesses? What are some examples of product lines that fit in each category?
In this chapter, we talked about how firms do strategic, functional, and operational planning. Yet some firms seem to be successful without formal planning. Do you think planning is essential to a firm’s success? how might planning hurt an organization? Under what circumstances do you believe
A common saying among managers is “if we can’t measure it, we can’t manage it.” Is there such a thing as an overreliance on marketing metrics? Are there cases or specific aspects of marketing where a single-minded focus on metrics is inappropriate or detrimental to the firm?
The product-market matrix provides four quadrants where firms may pursue growth opportunities. For this activity, you need to consider the range of growth opportunities that are potentially available to a book retailer that is struggling against online providers, such as Amazon, in the current
What is the decision facing Amazon? LO-7
What factors are important in understanding this decision situation? LO-7
What are the alternatives? LO-7
What decision(s) do you recommend? LO-7
What are some ways to implement your recommendation? LO-7
how does marketing support my company’s mission, objectives, and growth strategies? LO-7
What is the corporate culture and how does it influence marketing activities? LO-7
What has my company done in the past with its: Target markets?Products? Pricing? Promotion? Supply chain? LO-7
What resources including management expertise does my company have that make us unique? how has the company added value through its offerings in the past?
What is the nature of the overall domestic and global market for our product? how big is the market? Who buys our product? LO-7
Who are our competitors? What are their marketing strategies? LO-7
What are the key trends in the economic environment? The technological environment? The regulatory environment? The social and cultural environment? LO-7
Based on this analysis of the internal and external environments, what are the key Strengths, Weaknesses, Opportunities, and Threats (SWOT)? LO-7
What does marketing need to accomplish to support the objectives of my firm? LO-7
how do consumers and organizations go about buying, using, and disposing of our products? LO-7
Which segments should we select to target? If a consumer market: What are the relevant demographic, psychographic, and behavioral segmentation approaches and the media habits of the targeted segments? If a business market: What are the relevant organizational demographics?
how will we position our product for our market(s)? LO-7
What is our core product? Actual product? Augmented product? LO-7
What product line/product mix strategies should we use? LO-7
how should we package, brand, and label our product? LO-7
how can attention to service quality enhance our success?
how will we price our product to the consumer and through the channel? how much must we sell to break even at this price? What pricing tactics should we use?
how do we get our product to consumers in the best and most efficient manner?
how do we integrate supply chain elements to maximize the value we offer to our customers and other stakeholders?
What types of retailers, if any, should we work with to sell our product?
how do we develop a consistent message about our product? how do we best generate buzz?
What approaches to Advertising, Sales Promotion, Social Media, Direct/Database Marketing, Personal Selling, and Public relations should we use?
What role should a sales force play in the marketing communications plan? how should direct marketing be used?
how do we make our marketing plan happen?
Who is responsible for accomplishing each aspect of implementing the marketing plan?
What is the timing for the elements of our marketing plan?
What budget do we need to accomplish our marketing objectives?
how do we measure the actual performance of our marketing plan and compare it to our planned performance and progress toward reaching our marketing objectives?
What are the stages of the decision-making process?
What are the three components of attitudes? What is personality?What are some personality traits that may influence consumer behaviour?
Explain what is meant by lifestyle. What is the significance of family life cycle and lifestyle in understanding consumer behaviour and purchasing decisions?
How do culture and subculture influence consumer behaviour?What is the significance of social class to marketers?
How does the physical environment influence consumer purchasing behaviour?
What is consumer-to-consumer (C2C) e-commerce?What are virtual communities, and how are they related to consumer behaviour?
Demographic or cultural trends are important to marketers.What are some current trends that may affect the marketing of the following products?a. Housingb. Foodc. Educationd. Clothinge. Travel and tourismf. Cars.
What are the core values of your culture? How do these core values affect your behaviour as a consumer? What are the implications for marketers?
Consumers often buy products because they feel pressure from reference groups to conform. Does conformity exert a positive or a negative influence on consumers? With what types of products is conformity more likely to occur?
Millions of consumers around the globe use eBay to supplement their incomes or as their primary source of income.What do you think of the future of sites such as eBay? What opportunities does eBay provide for twentyfirst century entrepreneurs?
Retailers often place impulse purchase items such as magazines and chocolate bars near the entrance to the shop or near the checkout area. How would you describe the decision process for these products? Why are these locations effective?
In different cultures, perceptions about the proper roles for men and women, that is, sex roles, can vary greatly.What are some ways you think sex roles may differ in the following countries, and what are the implications for global marketers?a. UKb. Bahrainc. Japand. Holland.
We noted in this chapter that consumers often use country-of-origin as a heuristic to judge a product. Sometimes this tendency can backfire. While one study found that around the world ‘the Golden Arches are now more widely recognised than the Christian cross’,53 the strong link between
Behavioural targeting involves tracking where people go online and then feeding them advertising information that’s related to what they’re looking for. While proponents of this approach argue that it’s a very efficient and convenient way for people to conduct an information search, others
Online games like The Sims and EverQuest attract thousands of people around the world, many of whom spend virtually all of their free time hunched over their computer monitors. Advocates of online gaming point to the social benefits, including an outlet for creativity and the opportunity to
Assume that you are the vice president of marketing for a car maker. You know that internal factors such as perception, motivation, learning, attitudes and personality influence consumers’ decision making. Develop a report that describes these internal factors, why each is important in the
This chapter indicated that consumers go through a series of steps (from problem recognition to post-purchase evaluation) as they make purchases. Write a detailed report describing what you would do in each of these steps when deciding to choose one of the following products:a. Mobile telephoneb. A
Using one of the products in question 2, what can marketers do to make sure that consumers going through each step in the consumer decision process move towards the purchase of their brand? Hint: think about product, place, price and promotion strategies.
Sometimes advertising or other marketing activities cause problem recognition to occur by showing consumers how much better off they would be with a new product or by pointing out problems with products they already own.For the following product categories, what are some ways marketers might try to
Assume that you are a marketing manager for a large hotel chain with outlets in popular tourism sites around the world. You are concerned about the effects of current consumer trends, including changing ethnic populations, changing roles of men and women, increased concern for time and for the
With several other members of your class, select one of the following product categories (or some other product of your choice):????????Hairstyling???????? Large appliances such as refrigerators or washing machines????????Children’s clothing????????Banking????????Fine jewellery.
Visit three shops or locations where the product may be purchased. (Try to select three that are very different from each other.) Observe and make notes on all the elements of each retail environment.
At each of the three locations, observe people purchasing the product. Make notes about their characteristics (e.g.age, race, gender and so on), their social class and their actions in the shop in relation to the product.
Prepare a report for your class describing the situational variables and individual consumer differences between the three shops and how they relate to the purchase of the product.
Present your findings to your class.
Explain the role of a marketing information system and a marketing decision support system in marketing decision making pp. 118–123
Understand the concept of customer insights and the role it plays in making good marketing decisions p. 124
List and explain the steps and key elements of the market research process pp. 124–142
What is a marketing information system (MIS)? What types of information does it include? LO-3
How does a marketing decision support system (MDSS)allow marketers to easily get the information they need? LO-3
Define the concept of customer insights and the role it plays in market planning decisions. LO-3
Why is defining the problem to be researched so important to ultimate success with the research project? LO-3
explain the difference between primary data and secondary data. LO-3
What techniques can marketers use to gather data in exploratory research? How is this type of data collection useful? LO-3
explain what descriptive research is. LO-3
Describe the purpose of casual research. How does it differ from descriptive research? LO-3
What are the main methods to collect primary data? LO-3
GIGO—garbage in, garbage out—is mentioned in the chapter. What is the significance of this concept to market research? LO-3
What is a (computer) cookie? What ethical and privacy issues relate to cookies? LO-3
What important issues must researchers consider when they plan to collect data online? LO-3
When we consider data quality, what are the differences among validity, reliability, and representativeness? How can you know the data have high levels of these characteristics? LO-3
How do probability and nonprobability samples differ?What are some types of probability samples? What are some types of nonprobability samples? LO-3
What is a cross tabulation? How are cross tabulations useful to analyze and interpret data? LO-3
In Class, 10–20 Minutes for Teams figure 4.1 outlines the four types of data that make up a marketing information system (MIS). Thinking about a large retail bank(that has an extensive customer database) as well as a large snack food manufacturer (which sells its products via wholesalers and
Creative Homework/Short Project Select a multinational company that sells products to consumers.a. Identify a particular product and a research question related to that product that is most appropriately studied using a cross-sectional design. Justify your reasoning for selecting this design.b.
Creative Homework/Short Project As an account executive with a market research firm, you are responsible for deciding on the type of research to be used in various studies conducted for your clients. for each of the following client questions, list your choices of research approaches.a. Will TV or
For Further Research (Individual) for each of the types of mechanical observation listed within the chapter(people meters, portable people meters, eye tracking technology), conduct research online to identify (and document) the benefits and limitations of using each method.
Critical Thinking It is likely that many of you have been directly involved in a market research study (either via a survey or a focus group) as a respondent. Reflect upon the research study that you were involved in. Try to determine which firm most likely conducted the study and what information
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