Week 1 discussion
DQ1 Strategic Marketing Process?
How do the goals set for the marketing program in the
planning phase relate to the evaluation phase of the strategic marketing
process? What would you do with the results of the evaluation if: a) you
exceeded your goals? b) you fell short of your goals?
DQ2 Environmental Scanning
Environmental scanning is critical to acquire information on
events occurring outside of the organization. For example, in 2009, the U.S.
economy faltered and the unemployment rate rose. As a result, dollar (type)
stores flourished. The poor economic trend actually became a huge opportunity
for an entire retail segment. Select one of the five environmental forces
(social, economic, technological, competitive, and regulatory), discuss an
actual trend that fits into that particular environmental force, and provide an
accompanying marketing opportunity
Week 2 discussion
DQ1 Consumer Behavior
The purchase decision process can vary greatly in terms of
the time required from the moment a need is perceived until the actual purchase
event. Provide an example of an item that may require a long time, and another
that may progress relatively quickly through the purchase decision process.
What may be some common characteristics among items that have a longer time
frame?
DQ2 Understanding the Market
Visit the U.S. Census website. What information can you find
on this site that will help you to estimate size of market for your marketing
plan topic? By using the Internet to also research articles written by trade
journals and industry experts, what other relevant information can you find
about your industry to help you estimate your market size and market potential?
Week 3 discussion
DQ1 Understanding Consumers Using Research
Companies want to make the best marketing decisions possible
regarding which customers to pursue, which products or services to introduce or
promote, where to sell their products or services, and at what price. Although
not perfect, the use of market research reduces some risk. Suppose you want to
open a bow tie shop in Washington, D.C. What information would you want to know
before funding such a project? How would you find that information?
DQ2 STP: Segmentation, Targeting, and Positioning
Occasionally, a student will suggest that his or her product
or service is universally needed, such as providing a haircut. Therefore, they
plan to target everyone. Why is this not a good idea? What criteria should be
used to determine which market segment(s) to target?
Week 4 discussion
DQ1 Product Lifecycle
Products, like people, are viewed as having a life cycle.
Product life stage cycles include (a) Introduction, (b) Growth, (c) Maturity,
and (d) Decline.
What Life stage would you say the following items reside?
Canon digital cameras
Hand-held manual can openers
HP tablet computers
What marketing strategies would you suggest to these
companies?
DQ2 Branding
Some have said that a brand is a promise. What does that
mean and why is having a strong brand an advantage to a company and to the
consumer?
Week 5 discussion
DQ1 Pricing Decisions
Pricing is a critical decision made by a marketing executive
because price has a direct effect on a firm’s profits. Note the six major steps
in the process organizations go through in setting prices on pages 322–323.
Step one involves identifying pricing objectives and constraints. Give an
example of a pricing strategy and describe how specifics constraints may
prevent the fulfillment of reaching that pricing objective.
DQ2 Pricing Adjustments
There are times when pricing adjustments are made. List
three specific types of price adjustments and explain the rationale for making
such an adjustment.
Week 6 discussion
DQ1 Integrated Marketing Communications (IMC)
Marketing communications has evolved significantly in the
past some years. There are so many different ways to communicate from PR to
Lead Generation, Advertising to Direct Mail. At times, the types of
communications to end users, leveraging various approaches were executed off as
separate activities. There was no continuity, no specific overall strategic
plan. Thanks to improvements in technology, drive for ROI, the concept, and
approach of integrated marketing communications has become a huge focus.
In fact, clients and employers are asking for measurable
results. No longer is the phrase uttered by John Wanamaker, “Half the money I
spend on advertising is wasted; the trouble is I don’t know which half.”
acceptable.
What is Integrated Marketing Communications and why is it so
important in the 21st century for marketers to embrace this?
DQ2 Social Media and Marketing
As marketers, we have less control over our brand messaging
because of social media, correct? Think about it. All of our customers have
unlimited online access to praise, or smear, our brand. That is a lot of power?
How do marketers deal with this reality?
We listen. If we don’t, we are rendered useless to respond.
Check out this article and give me your thoughts.
https://medium.com/on-management/125283bc4100
Week 7 discussion
DQ1 Distribution – Delivering the Goods
Amazon: Delivering the Goods... Millions of Times a Day.
Read the Amazon case on pages 400 and 401. You may watch the video at the
publisher’s website if you choose.
How do Amazon.com’s logistics and supply chain management
activities help the company create value for its customers?
What systems did Amazon develop to improve the flow of
products from suppliers to Amazon distribution centers?
What systems improved the flow of orders from the
distribution centers to customers?
DQ2 The Four Ps
For your final discussion topic, I’d like to hear your
opinion. We can all agree that each of the four Ps are critical marketing
considerations. That said, which one (product, price, promotion, or placement)
is the most important and why? Make a strong case for your decision.
Week 5 you decide
Scenario/Summary
You are a marketing director for a Mexican Taco Restaurant
located in Lynchburg, VA. The average order size of your customers is $7.00 per
order. That means that when all your food orders are divided by your total
number of customers, the average order amount is $7.00.
Listen
Your Role/Assignment
Your variable cost per order is $3.00 in food costs and
paper products. Of course, there are also fixed costs (whether you sell one or
a hundred). These include your building lease ($2,000 per month, electricity
$500 per month, and labor $3,100 per month).
Listen
Question
Check the interactive to answer the question below and
submit the deliverable for this assignment.
You Decide
You decide
Break Even Analysis
Using this formula, what is the break-even point? In other
words, how many meals, at $7.00, would need to be sold before you start making
a profit?
Breakeven Point (number of meals) = Fixed Costs/(Average
Order Price - Average Order Cost).
The problem is that, even after being in business for a
year, your restaurant is selling slightly less than 1,000 meals. There are
several actions that can be taken to reach your break-even point, which is
necessary if you are to remain in business. As the marketing director is responsible
for the product, price, promotion, and placement, you control many of the tools
to make necessary adjustments.
Listen
Assignment
You Decide Assignment
Category Points % Description
Documentation and Formatting 2.5 5 Quality
work will include the formula and well formatted explanation of your strategy.
The proposal should be two pages in length.
Organization and Cohesiveness 7.5 15 Quality work will be clearly
organized to show your progress through the formula which will provide a
cohesive transition to a well-organized appropriate solution.
Editing 5 10 Quality
work will be free of any spelling, punctuation, or grammatical errors.
Sentences and paragraphs will be clear, concise, and factually correct.
Content 35 70 Quality
work will demonstrate an understanding of the breakeven analysis concept and
will show correct calculations. Conclusions from the breakeven analysis should
be summarized with your rationale for the solution(s) that you selected. The
content presented must demonstrate an understanding of the material.
Total 50 100
A quality paper will meet or exceed all of the above requirements.
Week 1 course project
Week 1: Topic
Proposal
You will select a topic for the Week 1 assignment, and
thereafter, all related assignments (the draft in Week 4 and the final
marketing plan in Week 7) MUST be on the same topic. You may not change your
marketing plan topic without approval from your instructor. Your topic should
be for a business, product, or service that you would like to start (no multilevel
marketing structures or non-profit organizations, please). Because this is an
applied project and not a research paper, please do not select a corporation
such as Starbucks or Coca-Cola as your topic. You are to apply the course
concepts to this project. If you are interested in coffee restaurants, for
example, you may wish to select your own cappuccino bar as your topic and then
use information from companies like Starbucks or Seattle's Best Coffee for
ideas and competitive research as you work on your project. If you have
questions about your topic, don’t hesitate to post them in the Q & A Forum
this week.
For Week 1, please write a two-page description of your
company, product, or service. It should be a new business, product, or service.
Discuss:
Ownership and company structure.
Describe the business, product, or service.
Write your mission statement.
Provide your marketing goals.
The marketing goals must be specific, measurable,
actionable, realistic, and time bound.
Examples…
Company ABC plans
to generate 25 leads per week as a result of our Facebook marketing campaign
beginning Oct. 1, 2014.
Company XYZ plans
to sell 5,000 widgets for the next fiscal year.
Discuss who a typical
customer might be.
Week 4: Draft
Marketing Plan
At the end of Week 4, you will submit a substantial draft to
your instructor for grading and feedback. Read Appendix A in the text. Be sure
to download the Marketing Plan outline. It must be used! It is recommended that
you start working on your draft in Week 2 after your instructor has approved
your topic. Use the Marketing Plan outline as a guide to the required content
for your marketing plan. Complete as much as you are able in order to get a
good start and an initial draft ready to submit at the end of Week 4. Remember,
the more you complete on this initial draft the greater the input that the
professor can provide. Also, please include your last name within the document
title.
Week 7: Final
Marketing Plan
Submit your completed Marketing Plan. It should include all
sections listed in the marketing plan outline. It should include headings for
the various sections of the marketing plan. APA format should be used, and
three references are required. Be sure to list all references that you consult
(both print media and online).
See the Syllabus section “Due Dates for Assignments &
Exams” for due date information.
Week 8 final exam
(TCO 4) Which of the following are measures used by
marketing executives? (Points : 5)
Market share
Cost per lead
Retention rate
Cost per click
All of the
above
Question 2. 2. (TCO 1) Marketing plans must enable results
to be compared with planned targets, which allows _____, the flexibility to
update original plans. (Points : 5)
replanning
contingency
planning
downsizing
dynamic
planning
proactive
change
Question 3. 3. (TCO 3) Which marketing strategy focuses on a
single market segment but adds additional product lines? (Points : 5)
Full coverage
Market specialization
Product
specialization
Selective
specialization
Market-product
concentration
Question 4. 4. (TCO 1) Based on relative competitive scope
(broad target to narrow target) and source of competitive advantage (lower cost
to differentiation), Porter's four generic business strategies are
differentiation, cost focus, differentiation focus, and (Points : 5)
exclusivity.
electronic-focus.
quality focus.
cost
leadership.
service
leadership.
Question 5. 5. (TCO 1) Step 2 in the planning phase of the
strategic marketing process is (Points : 5)
the situation
analysis.
the
market-product focus and goal setting.
the marketing
program.
implementation.
obtaining resources.
Question 6. 6. (TCO 1) In the 1980s, poor quality and
Japanese imports drove the Harley-Davidson motorcycle company to the brink of
bankruptcy. The company's share of the U.S. super-heavy-weight market
motorcycles with engine capacity of 850 cubic centimeters or more collapsed
from more than 40% in the mid-1970s to 23% in 1983. However, by 1989,
Harley-Davidson controlled some 65% of the U.S. market, and both in the United
States and overseas markets, the company won't be able to meet demand for years.
From a marketing perspective, what was most likely the first step in
Harley-Davidson's resurgence? (Points : 5)
Development of
a new mission statement and subsequent marketing strategy
Repositioning
its product in the minds of motorcycle buyers
Performing a
SWOT analysis
Seeking new
markets for motorcycles both in the United States and in foreign markets
Improving the
quality of its product and communicating this to motorcycle buyers
Question 7. 7. (TCO 3) All of the following steps are part
of the planning process used to develop an organization's advertising program,
except (Points : 5)
identify the
target audience.
specify the
advertising objectives.
write the
advertising copy.
calculate the
marketing ROI.
schedule the
advertising program.
Question 8. 8. (TCO 2) The proper blend of elements in the
promotional mix depends on the type of product. The three specific
characteristics to be considered are complexity, risk, and _____. (Points : 5)
ancillary
services
size
durability
accessibility
acceptability
Question 9. 9. (TCO 4) Reminding buyers of the product’s
existence is the promotional objective during which stage of the product life
cycle? (Points : 5)
Introduction
Growth
Maturity
Decline
All of the
above
Question 10. 10. (TCO 2) The _____ can be used to inform
prospective buyers about the benefits of the product. (Points : 5)
SWOT analysis
maturity stage
marketing
matrix
promotional mix
target audience
Question 11. 11. (TCO 7) Which of the following statements
about the terms used for marketing intermediaries is true? (Points : 5)
The most
precise terms used to describe marketing intermediaries are dealer and
distributor.
A retailer
sells to consumers.
An agent has no
legal authority to act on behalf of a manufacturer.
A wholesaler is
an intermediary who sells to consumers.
Broker is a
synonym for a dealer.
Question 12. 12. (TCO 7) Which of the following statements
about the legal and regulatory aspect of pricing is true? (Points : 5)
The
Robinson-Patman Act deals with predatory pricing.
The Consumer
Goods Pricing Act is the only federal legislation that deals directly with
pricing issues.
The Sherman Act
deals only with vertical price fixing.
The Federal
Trade Commission Act deals with predatory pricing, deceptive pricing, and
geographical pricing issues.
The Consumer Goods Pricing Act and the
Robinson-Patman Act deal with price discrimination.
Question 13. 13. (TCO 2) _____ involve(s) specifying the
role of price in an organization’s marketing and strategic plans. (Points : 5)
A business mission
Pricing
constraints
Pricing
objectives
A pricing plan
The list or
quoted price
Question 14. 14. (TCO 3) The ratio of perceived benefits to
_____ is called value. (Points : 5)
price
prestige value
value-added
pricing
value analysis
perceived costs
Question 15. 15. (TCO 6) Aggregating prospective buyers into
groups that have common needs and will respond similarly to a marketing action
is called (Points : 5)
consumer
differentiation.
psychographics.
market
segmentation.
market
delineation.
aggregation
marketing.
Question 16. 16. (TCO 5) Which of the following statements
about environmental scanning is true? (Points : 5)
Environmental
scanning changes the marketing environment.
Environmental
scanning identifies and interprets potential trends.
Environmental
scanning is an annual event.
Environmental
scanning focuses primarily on geographical factors.
All of the
above
Question 17. 17. (TCO 1) At the strategic business unit
level, the marketing department provides leadership activities in (Points : 5)
talent
management.
fiscal
restraint.
looking
outward, keeping the organization focused on creating value both for it and for
customers.
creating the
corporate culture.
sustaining the
means-end chain.
Question 18. 18. (TCO 1) Which of the following statements
about relationship marketing is most true? (Points : 5)
Relationship marketing
has a short-term focus on increasing profits.
Relationship
marketing is easy to implement.
Relationship
marketing is more effective when there is a personal, ongoing relationship
between individuals in the selling and buying organizations.
Very few
companies today are engaged in relationship marketing.
The Internet is
an ideal forum for relationship marketing.
Question 19. 19. (TCO 1) A local university in Lynchburg, VA
offers an outstanding business school education. Cali pays the tuition to
attend Daniels and earns her MBA with a concentration in supply chain
management. Upon graduating, she is offered a high-paying, fulfilling position.
Was this a marketing exchange? (Points : 5)
No, because the
university is a private one.
Yes, because
the university is profitable.
Yes, because
paying tuition was exchanged for knowledge that directly led to Cali's
fulfilling new job.
No, because
money was exchanged.
No, because the
school did not provide Cali with a product.
Question 20. 20. (TCO 6) Kraft produces Lunchables, a
prepackaged meal usually consisting of several crackers, small slices of meat,
and small slices of cheese. Some versions contain Capri Sun drinks. Others are
called Cracker Stackers and Fun Fuel. The box is bright yellow and the quantity
of food contained within is small. The target market for Kraft Lunchables is
most likely (Points : 5)
moms of
school-aged children.
businesspeople
looking for a quick snack.
business
travelers.
teenagers.
seniors.
Question 21. 21. (TCO 3) Which element of the marketing mix
is demonstrated when the Mars Company has a sale on M&M’s brand candies?
(Points : 5)
Product
Price
Promotion
Place
Production
Question 22. 22. (TCO 5) Google's myspace.com is a social
network that is targeted primarily to people under the age of 25. Increasing
use of myspace.com as a networking tool for this target market is an example of
how _____ forces impact the marketing environment. (Points : 5)
economic
competitive
social
regulatory
ecological
Question 23. 23. (TCO 7) In 1998, F. Hoffman-LaRoche Ltd.
and BASF AG, two international pharmaceutical companies, were ordered to pay
$725 million in fines for plotting to raise and fix prices of vitamins used in
virtually every home in the United States. This is an example of how _____
forces affect the marketing environment. (Points : 5)
economic
ecological
technological
social
regulatory
Question 24. 24. (TCO 6) Graham-Field Health Products makes
hospital beds and wheelchairs from component parts and materials it buys. It
sells its products to hospitals, nursing homes, and retailers of healthcare
products. Graham-Field Health Products operates in a(n) _____ market. (Points :
5)
consumer
government
industrial
reseller
demographic
Question 25. 25. (TCO 1) Several years ago, SwissAir made
some unwise investments to pay for a planned expansion. As a result, the
company had to make some cost-cutting moves that alienated its customers.
Eventually the company declared bankruptcy, regrouped, and found itself able to
resume business. Its board of directors recently announced that the company
would like to resume flying. Before resuming flying, SwissAir needed to
determine what percentage of its former customers it could expect to return to
the airline. If not enough former customers were willing to use SwissAir again,
the resumption of flights would not be profitable. The determination of the
percentage of returning patrons that would be needed to resume operation is an
example of a (Points : 5)
research risk.
research
objective.
research
uncertainty.
research
decision.
research
definition.
Question 26. 26. (TCO 3) The Belsen interview is a means of
pretesting media surveys. It gathers facts and figures by asking people about
their attitudes, beliefs, and awareness of various media. With this technique,
the respondent is interviewed twice, first by an interviewer using the proposed
survey and then by a different interviewer, who asks questions about the survey
itself. The Belsen interview uses _____ data. (Points : 5)
observational
secondary
intercept
questionnaire
synergistic
Question 27. 27. (TCO 4) Sara Burns is the owner of a
company called Spice and was looking for a new product to go with her company's
line of food condiments when a customer suggested combining spices with tea.
This is an example of (Points : 5)
accidental invention.
idea
generation.
bootlegging
ideas.
serendipitous
management.
serendipitous
innovation.
Question 28. 28. (TCO 4) A few years ago, American Idol
premiered as the first nighttime talent show in several decades. The marketing
for the show was intent on making television viewers aware of its existence and
excited enough about the show that they would watch the first episode. Based on
this description, in which stage of the product life cycle would this show be?
(Points : 5)
Introduction
Growth
Maturity
Decline
Harves
Question 29. 29. (TCO 7) When an Avon representative sells
cosmetics door-to-door, it is an example of which type of marketing channel?
(Points : 5)
Direct channel
Indirect channel
Strategic
channel alliances
Marketing
channel
Dual
distributive channel
Question 30. 30. (TCO 2) To promote its theme parks to
groups, Disney is using advertising, direct marketing, Internet promotion, and
partnerships with other companies. In other words, Disney is using (Points : 5)
implemented
market codes (IMC).
interactive
media convergence (IMC).
an
infrastructure of market customization (IMC).
integrated
marketing communications (IMC).
integrated
media convergence (IMC).
Question 31. 31. (TCO 2) When a news story covers a terrible
disaster and viewers are asked to send donations to the American Red Cross, the
American Red Cross is receiving (Points : 5)
publicity.
advertising.
direct
marketing.
personal
selling.
a public
service announcement.
Question 32. 32. (TCO 7) Recently American Express, Visa,
and MasterCard have been pushing hard into the small-ticket end of the credit
card market. The purchase of items such as fast food meals, movie popcorn, and
candy have been targeted as growth areas for credit card usage. This is an
example of a _____ strategy on the part of the credit card companies. (Points :
5)
market
penetration
market development
product
development
diversification
product
dissemination
Page 2
Question 1. 1. (TCO 1) Discriminate between primary data and
secondary data and their usefulness to business decision making, being sure to
discuss the advantages and disadvantages of each. Your response should also
identify the typical sources for primary and secondary data and what you would
rely on most heavily in making your marketing decisions. (Points : 30)
Question 2. 2. (TCO 3) Imagine that you are creating a
marketing plan for a company that will sell motor scooters. As you consider the
marketing program, what types of strategy should you consider including in the
plan? Propose one specific example of each type of strategy that you are considering,
and present your rationale (reasoning) for your strategy selections. (Points :
30)
Question 3. 3. (TCO 4) Imagine that you are the product
manager for a new electric car similar to the Chevrolet Volt or Toyota Prius.
Using all of your knowledge of the new product life cycle, speculate on the
stages of the life cycle your electric car will pass through, being sure to
discuss the marketing objectives in each stage and giving specific examples of
the objectives, along with your reasoning for creating the objective. (Points :
30)
