Marketing and Product

12756 words 52 pages
Directed Study in Marketing

Chapter 1 Marketing’s Value to Consumers, Firms, and Society

Questions and Problems

1. List your activities for the first two hours after you woke up this morning. Briefly indicate how marketing affected your activities.

a. Awakened by alarm clock. Clock bought because of brand name loyalty: Seiko b. Had coffee. Brand name loyalty and preferred taste: Folgers c. Walked and fed dog. Purchased Purina Dog chow due to advertisements. d. Made breakfast for son. Cereal and milk purchased due to taste preferences. e. Put on clothing. Bought these clothes due to comfort and quality. f. Brushed teeth and put on makeup. Purchased items due to loyalty and quality.
g. Drove to school. Purchased
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An example of this type organization in my local area is Central Supply Company. This organization offers business and school supplies. They have a great variety of items that businesses and students need on a daily basis. They supply terrific customer service and actually deliver the items to the consumer. The store atmosphere is laid back and simple, with items that are easily found. The customer relations specialist is always knowledgeable about the items offered. And, if items are not in the store, the items are usually ordered and received by the company within one day.

Chapter 2 Marketing Strategy Planning

Questions and Problems

2. Distinguish clearly between mass marketing and target marketing. Use an example.

Mass marketing is a production-oriented approach. It aims its products at everyone and considers everyone to be a potential customer. An example of mass marketing is Tylenol or Lay’s Potato Chips. Target marketing, on the other hand, is tailored to fit a specific group of targeted consumers. An example of targeted marketing is Monday Night Football, which markets to men or The Oprah Winfrey show which targeted stay at home moms.

5. Explain, in your own words, what each of the four Ps involves.

The four Ps are the four major parts of marketing: product, place, promotion, and price. An organization’s product can be a physical good or service.

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