13 Jan Question 1. 1. (TCO 1) Discriminate

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)