using the lecture try to response. don't forget to mark each answer by its respective number or letter like 1-32 answer() 1-33 answer()

Marketing in Action Case: Real Choices at StockX Are you a sneakerhead? Il you proudly claim this nickname for collectors of limited-edition athletic shoes, you may be familiar with Stockx, the stock market for sneakerheads. The success of this innovative Company offers several lessons about value, the most fundamental concept in marketing Sneakers aro big business for retailers. They are also big business for collectors who not only love shoes but also love the dollars others are willing to pay for a pair of sneakers with limited availability. The North American resale market for senkers and other streetwear has grown to over S2 tsillion and is expected to roach more than $6 billion by 2025. Notable sales include a pair of Nike Air Max for $40,000 and a 2020 sale of Air Jordans for $660,000--but, of course, those Jordans wore actually wom by the basketball phenom Air Jordans were the towy collectible that led to addiction for many id collectors. Among them was StockX founder Jonh Luber, a fomor IBM analyst who founded Compleo, a kind of Kelley Blue Book for sneakers. You can find his Ted Talk online in which he passionately made the case for Sakers as an investment and in the need for form the facilitate the buying and selline of the StockX founder Josh Luber, a former IBM analyst who founded Campless, a kind of Kelley Blue Book for sneakers. You can find his Ted Talk online in which he passionately made the case for sneakers as an investment and explained the need for a platform that could facilitate the buying and selling of these "commodities"-a "stock market of things." When Quicken Loans billionaire Dan Gilbert learned about Luber's concept, the two joined together to form StockX in 2016. StockX uses the concepts of a stock exchange that buys and sells shares of publicly traded companies and applies it to the world of product resale. The price a seller is willing to sell for is an "ask": the price the buyer is willing to pay is a "bid." When these two match up, a transaction occurs automatically. Collectors can track the value of their own "portfolio" via StockX and can see how their shoes and those they are considering purchasing are tracking in value, including a 52-week trend line-a "Ticker" for sneakers Another critical service is the examination of the product by StockX "authenticators," These sneaker experts carefully scrutinize packaging, stitching, even the smell of the shoes to make sure they are the genuine article, not a counterfeit. For their services, StockX collects a 3 percent processing foe plus a transaction tee ranging from 3 to 9,5 percent Value is realized by every player in the StockX transaction process. Sellers get access to thousands of eager and able customers for their products and a simple and reliable process for handling the transactions, Buyers have access to useful information to help them assess whether a price is fair, plus they have a way to evaluate the change in value of their investments over time. Novice buyers are put on more of a level to evaluate ne change in value of their livesunens over time. NOVICe buyers are put on more Ol a level playing field with veteran buyers and sellers as the market price information in StockX allows them to assess the scarcity of a particular shoe. Perhaps most important to the purchaser is the authentication process, a feature not available with a private transaction between individuals or via competitor eBay. Even the shoe brands win as the prestige of their products increases through publicity about the prices at which they sell on the exchange. StockX is clearly receiving value too. In 2019, the company reached unicorn" status, the term for privately held companies valued at $1 billion or more. StockX is also experimenting with another stock market conceptthe initial public offering (IPO). In financial markets, the IPO is used to let the market set a price for shares of a business that is converting from private status to a publicly traded company. StockX is using that idea to allow shoe manufacturers to offer their new styles to the marketplace. In 2019, Adidas offered 333 exclusive pairs of their Campus 80s without a retail price, allowing consumers to set the market price. StockX founder Luber believes these IPOs are the future of e-commerce. He hopes that retailers will treat the StockX platform as a full-fledged distribution channel, allowing users to bid for products through an auction process. Borrowing yet another idea from Wall Street, the company wants to let their customers do an exchange without even taking possession of the goods, facilitating "day trading." According to Luber, the idea behind all of this was simple: "The stock market has been the most efficient form of commerce for 200 years. All we did was copy that, and point it from old commodities like stocks and bonds and oil and gas, to new commodities, like streetwear and watches and handbags. 45 1-32. Consider all of the potential stakeholders involved in a StockX transaction, from creation of the shoes to the acquisition by a collector. In what other ways is value created by the StockX service for each of these stakeholders? 1-33. Marketing is also concemed with providing value to society-people not directly involved in the exchange process. In what ways does-or could-StockX provide value to this stakeholder group? 1-34. As you'll leam in Chapter 10 pricing is an important tool available to marketers to signal value and to persuade prospects to make a purchase. In what ways does Stockx help and/or hurt a shoe manufacturer's ability to use this important tool? tas 1-35. Consider StockX's vision for expanding the use of the IPO concept to eliminate the retail price and let consumers decide the market price for a new product. What are the pros and cons of this approach? For what kinds of products would this work and for what kinds of products might it be problematic