Week 1

After reading Chapters 1 and 2, answer the following questions:

1. Compare and contrast customer needs, wants, and demands. Describe the need versus the want for the following products: Gatorade, Nike shoes, andiPod.

2. One of the great new marketplaces of our time iseBay. Spend some time on theeBaywebsite (www.ebay.com). Find a product that you are interested in and follow the bidding. How much would you be willing to pay? Consider the following questions. (Objective 2)

How iseBayproviding value to its customers?

Describe the relationship they have with their customers.

What are their markets?

3.The marketing mix is the set of controllable, tactical marketing tools the firm blends to product the responses it wants from the target market. These marketing tools can all be collected into four sets of variables known as the fourPs. Consider Southwest Airlines (www.southwest.com). Briefly describe the fourPs employed by Southwest.

4. How would you describe a market niche? Describe four product/services that you own or consume that you would consider to be niche products. Why do you believe this to be true?

Expected outcome: Written assignment in APA style, and in your own wordsin only one word document. No length requirements.

This assignment includes a plagiarism checker. Please, check carefully the originality of your submission. Cite external references to support your answers in both within the text and in the references part as mandated by APA style. The instructor will not accept more than 5% ofsimilarity withexternal sources in the content of the document without being cited; otherwise, your work will be considered invalid. If you have any question, contact your instructor.

Principles of Marketing, 15th Edition,

Philip T Kotler, Gary Armstrong