8. Identify the two strategies that a firm could use to develop a marketing mix for international markets. What are the advantages and disadvantages of each?
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Hit & Miss
Beyoncé Thrills Fans and Surprises Marketers
Grammy award–winning entertainer Beyoncé recently took the music industry—and marketing strategists—by storm. Without any advance warning, she released a new self-titled album by simply posting a trailer on her Instagram account with the caption “Surprise!” Beyoncé announced her latest release exclusively on iTunes. .
1.What are the nine factors that should be considered when selecting a location?
1.Define process layout and product layout and provide an example of each.
2.Describe the three activities involved in implementing the production plan.
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31.A ________________ system evaluates customer demands to make the connection between products manufactured and products bought.
32.A voluntary certification program administered by the U.S. Green Building Council, aimed at promoting the most sustainable construction processes available, is known as ________________
33.A good or service that is free of deficiencies is said to.
31. Long-term customers buy more, require less service, and provide valuable feedback to a marketer. These elements contribute to a high:
a. propensity to consume.
b. relationship.
c. brand loyalty.
d. lifetime value of a customer.
32. Managing customer relationships instead of focusing on transactions:
a. often leads to long-term, cost-effective exchange relationships.
b. is time-consuming and.
1.What are the tasks of production and operations management? How important are these techniques in the creation of services?
2.Discuss a firm’s decision whether to make, buy, or lease.
.
1.A seller’s market is characterized by:
a.shortages.d.more supply than demand.
b.low prices.e.high advertising expenditures.
c.much competition.
2.If an organization adopts the marketing concept as its general policy, this means that:
a.marketing personnel will dominate the organization.
b.the organization will hire an advertising manager.
c.all areas of the organization will try to satisfy the potential buyer or user.
d.the.
6. Identify and describe the four strategies that blend to create a marketing mix.
7. What is a target market? Why is target market selection usually the first step in the development of a marketing strategy?
.
Case 11.3
Mei Mei Group Communicates and Delivers Value
The owners of Boston-based food truck Mei Mei Street Kitchen and Mei Mei restaurant imaginatively provide context to the definition of marketing by creating, communicating, and delivering value to their guests while managing customer relationships. The very nature of its mobile food truck.
1.________________ instructs each department on what work is to be done and the time allowed for completion.
2.The phase that spots problems in the production process and informs management ofneeded adjustments is called ________________.
3.________________ is the phase of production control that determines the amount of inventory needed to produce a certain.
11.________________Production control is a three-step process: planning, scheduling, and dispatching.
12.________________ Prescription drugs, chemicals, and canned soup are examples of a synthetic production process.
13 ________________Continuous-process production is common in petroleum refineries.
14.________________One of the disadvantages of flexible manufacturing systems is that they do not allow machine tools to be reprogrammed while they.
1. ________________Marketing research focuses mainly on external data.
2. ________________Geographic segmentation is the newest type of segmentation.
3. ________________In a buyer’s market, supply exceeds demand.
4. ________________Aware that women control 80 percent of consumer spending, Amazon created Amazon Mom. This is an example of demographic segmentation.
5. ________________Person marketing is commonly used in political.
11. Which of the following nontraditional marketing forms would focus on a political candidate’s campaign?
a. Event marketing
b. Cause marketing
c. Person marketing
d. Organization marketing
12. Marketing the Special Olympics is a form of:
a. person marketing.
b. place marketing.
c. cause marketing.
d. organization marketing.
13. AT&T ensured a full crowd of spectators by signing Tiger Woods.
11.________________ are defined as products purchased by consumers for personal, non-business use.
12. ________________ focuses on the precise way a B2B purchaser will use a product.
13.When a firm directs its marketing efforts toward a select group of customers, that group is called the ________________
14. ________________ are goods and services purchased to.
1. ________________Marketing research requires the collection and interpretation of data for use in marketing decisions.
2. ________________Marketing research requires both internal and external data.
3. ________________The U.S. government provides little if any useful information to private firms conducting market research.
4. ________________Observational studies and surveys are means of collecting primary data.
5. ________________Data warehouses.
Assessment Check Answers
6.1 What is the most common form of segmentation for consumer markets?
6.2 What are the three approaches to product-related segmentation?
6.3 What is end-use segmentation in the B2B market?
7.1 Define consumer behavior.
7.2 What are some determinants of consumer behavior?
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Hit & Miss
Beyoncé Thrills Fans and Surprises Marketers
Grammy award–winning entertainer Beyoncé recently took the music industry—and marketing strategists—by storm. Without any advance warning, she released a new self-titled album by simply posting a trailer on her Instagram account with the caption “Surprise!” Beyoncé announced her latest release exclusively on iTunes. .
1. ________________Successful relationship marketing often coincides with an increase in marketing costs.
2. ________________The goal of relationship marketing is to achieve customer satisfaction that creates repeat business.
3. ________________Long-term customers generally require higher levels of service.
4. ________________Information technologies such as computers, databases, and the Internet provide critical support in relationship marketing.
5. ________________Relationship.
10. Explain each of the methods used to segment consumer and business markets. Which methods do you think would be most effective for each of the following? Why? (Note that a combination of methods might be applicable.)
11. What are the three major determinants of consumer behavior? Give an example of.
21.The buying behavior of ultimate consumers and figuring out why people buy one product over another is called ________________
22.The ________________ measures the revenues and other benefits over the duration of a customer relationship, less the costs of acquiring and servicing that customer.
23.When two businesses jointly market each other’s products, ________________.
2. Describe the shift from a seller’s market to a buyer’s market. Why was this move important to marketers?
3. Describe how an organization might combine person marketing and event marketing. Give an example.
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11.During the phase of production control known as ________________, managers develop a bill of materials and a determination of other resources needed to produce a certain quantity of good or service.
12.________________ is the process of identifying best practices in a field or industry and then using those standards to continually.
Assessment Check Answers
1.1 What is utility?
1.2 Identify three ways in which marketing creates utility.
2.1 What is the marketing concept?
2.2 How is the marketing concept tied to the relationship era of marketing?
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Answers to Review Questions
1. Define the four different types of utility and explain how marketing contributes to the creation of utility. Then choose one of the following companies and describe how it creates each type of utility with its goods or services.
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1.Designers can use computers to create and modify a part or product before producing an actual prototype using ________________
2.The industrial development of the United States involved the manufacture of large quantities of standardized goods using specialized labor and mechanization in an approach known as ________________
3.The use of computers to design.
Case 11.3
Mei Mei Group Communicates and Delivers Value
The owners of Boston-based food truck Mei Mei Street Kitchen and Mei Mei restaurant imaginatively provide context to the definition of marketing by creating, communicating, and delivering value to their guests while managing customer relationships. The very nature of its mobile food truck.
1.________________________________seeks to educate the public and may or may not attempt to directly raise funds.
2.The ________________ is a combination of product, pricing, distribution, and promotional strategies.
3.________________ includes activities and technologies for gathering, storing, and analyzing data to make better competitive decisions.
4.The need satisfying power of a good or service is.
6.A synthetic system is the opposite of:
a.an analytic system.c. a basic system.
b.a fixed position system.d. an intermittent system.
7.If the price and quality of an item are similar, what other factors should determinethe selection of the supplier?
a.speed of delivery.
b.previous experience.
c.warranties on purchases.
d.the supplier’s commitment to quality control.
e.all of these answers are.
11. ________________Standardizing the marketing mix can be challenging in terms of lowering costs.
12. ________________The marketing concept focuses on production, not the customer.
13. ________________Firms generally have only a single target market for each product offered.
14. ________________Relationship marketing seeks to benefit the sellers, but does not provide any benefits to buyers.
15. ________________Geographical.
21.A ________________ system makes it possible to continuously update the list of items in inventory.
22.The organization established to ensure consistent standards for products and tofacilitate trade and cooperation is called the________________
23.A ________________ inventory system supplies the needed parts to the production line on a last-minute basis.
24.A ________________ is a smart.
Hit & Miss:
Redbox Teams with Verizon to Offer Streaming
Redbox continues to stay above competition while addressing customer needs. While competitors like Netflix try to shift customer interest from DVD rentals to streaming, Redbox provides a new video streaming partnership with Verizon while still offering DVD rentals at their 42,000 kiosks..
1. ________________The marketing concept requires organizations to take a companywide customer orientation in all activities to achieve long-term success.
2. ________________According to the marketing concept, a firm should analyze each customer’s needs and then work backward to offer products that fulfill them.
3. ________________A good or service provides added value when its.
21. ______ is the process of collecting and evaluating information to help marketers make effective decisions.
a.Marketing researchc.Cause marketing
b.Distribution strategyd.Segmenting
22. ________ is part of the broader field of business intelligence, which is the task of using computer-based technology to evaluate data in a database and identify useful trends.
a.Data warehousingc.Segmentation
b.Data miningd.Data analysis
23..
1. Which category of production reduces a raw material to its component parts to extract one or more marketable products?
a.synthetic production system c. intermittent production process
b.analytic production system d. continuous production process
2. Which category of production combines a number of raw materials or parts to produce finished products?
a.analytic production systemc..
1.Market segmentation:
a.combines differing groups into one mass market.
b. has little application in defining target markets.
c.is the process of dividing a market into several relative homogenous groups.
d.is done for the consumer market but not for the business market.
2.Segmenting a market on the basis of age, race, gender, occupation, household type, or.
Going Green:
Häagen-Dazs Focuses on Honey Bee Research
You may not immediately make an association between premium ice cream and honey bees. Pollinating many of the fruits, vegetables, and nuts we eat, honey bees are integral to more than half of the all-natural fruits, nuts, and berries used to produce Haagen-Dazs ice.
1.Marketing a destination for tourists is an example of:
a.cause marketing.d.organization marketing.
b.person marketing.e.event marketing.
c.place marketing.
2.Marketing a political figure is an example of:
a.person marketing.d.event marketing.
b.place marketing.e.organization marketing.
c.cause marketing.
3.Marketing an art festival is an example of:
a.organization marketing.d.cause marketing.
b.event marketing.e.person marketing.
c.place marketing.
4.Marketing with the goal of U.S. Army recruitment is an example of:
a.event marketing.d.organization.
1.________________Production can be defined as the use of people, machinery, and other resources to convert materials into finished products and services.
2.________________Plant location can contribute to the difference between profit and loss for a firm.
3.________________Petroleum refining breaks down crude oil into several marketable products, including gasoline, heating oil, and aviation fuel..
1. Marketing creates all of the following types of utility EXCEPT:
a. form.
b. time.
c. place.
d. ownership.
2. The era in marketing history that believed creative advertising and selling would overcome consumers’ resistance is _____.
a. production
b. marketing
c. sales
d. relationship
3. The best marketers not only give consumers what they want but also:
a. offer the.
3.1 Why do not-for-profit organizations engage in marketing?
3.2 What are the five types of nontraditional marketing used by not-for-profit organizations?
4.1 Distinguish between consumer products and business products.
4.2 What are the steps in developing a marketing strategy?
.
1.________________Production and manufacturing refer to the same process.
2.________________Production and operations managers are crucial in business, but are rarely used in the not-for-profit sector.
3.________________Effective production and operations management can reduce production costs and translate to increased profits.
4.________________Production management applies to both manufacturing and nonmanufacturing industries.
5.________________Unfortunately, flexible production systems offer no means.
Case 11.2
Arthritis Foundation Takes Aim at Pain
Ads in a print, television, and online campaign created pro bono by New York ’s Young & Rubicam (advertising) Agency feature former tennis star Billie Jean King, who promotes pain relievers such as swimming, walking, running, biking, and of course tennis. After the campaign’s.
1. What are two transportation factors for Reynolds to consider?
2. What are two physical factors for Reynolds to consider?
3. What are two human factors for Reynolds to consider?
.
1. ________________Ownership utility is created by converting raw materials, component parts, and other inputs into finished goods and services.
2. ________________Retailers create ownership utility when they accept credit cards as a method of payment.
3. ________________A presence on the Internet often hinders a firm’s goal of creating utility.
4. ________________Getting a product to.
4. Describe how an organization might combine cause marketing and organization marketing. Give an example.
5. Identify each of the following as a consumer product or a business product, or classify it as both:
a.cup of coffee—
b.iPad—
c.gasoline—
d.boat trailer—
e.hand sanitizer—
f.Post-Its
.
9. Describe the types of data that someone who is thinking of starting an accounting practice might choose to gather. How might this businessperson use the data in making the startup decision?
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Case 11.1
Louis Vuitton: From Luxury to Ultra Luxury
Louis Vuitton is a luxury goods maker whose goal is to sell massive amounts of its products, which include luggage trunks, shoes, purses, wallets, watches, jewelry, and sunglasses. But an aura of exclusivity can quickly diminish with commercial success—with too many consumers walking.
