BUSN 319 Marketing Entire Course

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BUSN 319 Marketing Entire Course
You will select a topic for the Week 1 assignment, and thereafter, all related…

 

Description

BUSN 319 Marketing Entire Course

BUSN 319 Marketing Entire Course

A+ Course Project Week 1,7|Draft Marketing Plan Week 4|Price Strategy/Breakeven Analysis Week 5|Quiz Week 2, 4| Discussions Week 1-7|Final Exam

Course Project Buffet Restaurant

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Topic Proposal Week 1 (10 points) 

You will select a topic for the Week 1 assignment, and thereafter, all related assignments (the draft in Week 4, the breakeven analysis in Week 5, 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, 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 and include your marketing goals.

Preview:

The marketing plan for this new business aims to provide further analysis of the feasibility of this venture.  Assumptions about management team and existing company situation will be laid out to identify…

BUSN 319 Draft Marketing Plan Week 4 Individual Assignment (100 points) DeVry

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 from Doc Sharing. It is recommended that you start work 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.

Preview:

…The place is designed with an elegant environment and seats up to 1000 customers for dining or special celebrations.  Part of the customer’s unique dining experience that it aims for is the quality of service it …

Price Strategy/Breakeven Analysis Week 5 (50 points) 

One of the most challenging decisions faced by marketers is setting the price for their products and services. In order to select the right price, you need to ensure that you’ll be able to cover your costs and meet customers’ needs at a price that they are willing to pay. You will need to perform a breakeven analysis to determine the best price. Chapters 13 and 14 outline six steps that organizations follow to set price. Follow these six steps (as listed on page 322 in the text) to set prices for your product or service and perform a breakeven analysis. Submit your price strategy/breakeven analysis via the Week 5 Dropbox for grading and feedback. Be sure to incorporate any feedback provided by your instructor into your final Week 7 Course Project.

Preview:

As one can observe in any buffet restaurant, customers can have as many servings as they prefer of any food they fancy.  It is noted that the greater the variety and/or higher the quality of food a buffet offers, the higher its fixed cost is.  However, if it…

Final Marketing Plan Week 7

Your final marketing plan should be between 4,000 and 6,000 words and must follow all APA guidelines. In Week 1, you will submit a two-page description of your business, product, or service for instructor approval of your topic. In Week 4, you will submit a substantial draft of your marketing plan for instructor feedback. In Week 5, you will submit a breakeven analysis for your business, product, or service. Your completed marketing plan is due at the end of Week 7.

Preview:

The National Restaurant Association predicted that improving economy and consumer’s preference to dine out more will generate increased restaurant sales across US in 2015 (Networld Media Group, 2015).

However, American diners …

BUSN 319 Marketing Entire Course

Quiz Week 2 

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(TCO 1) 3M inventor David Windorski’s challenge was to design new products for college students. The first step in solving this challenge was to (Points : 3)

Satisfy students’ studying needs

Advertise the new products he had invented

Use word of mouth to tell college students about his ideas

Discover students’ studying needs

Ask 3M to support him while he pursued his new ideas

(TCO 1) The Daniels College of Business at the University of Denver 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 : 3)

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

(TCO 1) The first objective in marketing is to (Points : 3)

Discover the needs of prospective consumers

Discover the needs of competitors

Discover the needs of sellers

Satisfy the needs of regulators

Satisfy the desires of various segments

(TCO 6) Which of the following would be the best target market for tickets to the home games of the Indianapolis Colts professional football team? (Points : 3)

All people in the Indianapolis area

All people in the United States

All men in the United States

People in the Indianapolis are with an interest in professional football

All people in the United States with an interest in professional football

(TCO 6) The four Ps are commonly known as (Points : 3)

The environmental or uncontrollable factors

The environmental or controllable factors

The marketing mix or controllable factors

The marketing mix or uncontrollable factors

Product, price, promotion, and process

(TCO 1) Profit is (Points : 3)

The point at which company assets equal company liabilities

The money left over after a business firm’s total expenses are subtracted from its total revenues

The goodwill earned from implementing the societal marketing concept

The money earned when the economic order quantity is maintained

Accurately described by all of the above

(TCO 1) The corporate level is where the head of marketing (Points : 3)

Decides recruitment strategy and tactics

Directs all employees’ training and orientation

Sees that marketing strategy is implemented to achieve critical marketing goals

Develops overall sales projections

All of the above

(TCO 1) The marketing department helps keep the organization focused on creating value both for it and for customers. This is accomplished by (Points : 3)

Listening to customers

Developing offerings

Producing offerings

Implementing marketing program activities

All of the above

(TCO 1) The _____ for American Red Cross is The American Red Cross, a humanitarian organization led by volunteers and guided by its Congressional Charter and the Fundamental Principles of the International Red Cross Movement. It will provide relief to victims of disasters and help people prevent, prepare for, and respond to emergencies. (Points : 3)

Benefit statement

Business portfolio

Functional philosophy

Mission

Corporate code

(TCO 1) Market share is (Points : 3)

The ratio of the profit of the firm to the total profits of all firms in the industry, not including the firm itself

The ratio of the profit of the firm to the total profits of all firms in the industry, including the firm itself

The ratio of sales revenue of the firm to the total sales revenue of all firms in the industry, not including the firm itself

The ratio of sales revenue of the firm to the total sales revenue of all firms in the industry, including the firm itself

The ratio of the profits of all firms in an industry to the profits of the firm

(TCO 1) Step 2 in the planning phase of the strategic marketing process is (Points : 3)

The situation analysis

The market-product focus and goal setting
the marketing program

The marketing program

Obtaining resources

BUSN 319 Marketing Entire Course

(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 : 3)

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

(TCO 1) To provide quick access to topics, a well-organized marketing plan should begin with (Points : 3)

An executive summary

The strategic focus

A table of contents

A situation analysis

The market-product focus

(TCO 5) Which of the following statements about environmental scanning is true? (Points : 3)

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

(TCO 5) The social forces of the environment include the demographic characteristics of the population and its _____. Changes in these forces can have a dramatic impact on marketing strategy. (Points : 3)

Living standards

Social class

Values

Dialect

Culture

(TCO 5) The age segment in America expected to double in size by 2030 is composed of (Points : 3)

Infants

People aged 65 and over

Children of baby boomers

Teens

People in their early 30s

(TCO 6) Which are the two most important values for all age groups in the United States? (Points : 3)

Health and fitness

Patriotism and loyalty

Protecting the family and honesty

Self-esteem and health

Friendship and fitness

(TCO 5) In an inflationary economy, the cost to produce and buy products and services _____ as prices _____. (Points : 3)

Escalates; increase

Escalates; decrease

Decreases; increase

Decreases; decrease

Does not change; increase

(TCO 5) Very recently, ink has been developed that will conduct electricity. The application for this ink is to print circuitry that can be read electronically. This may help to drive down the cost of identification tags, called RFID tags, that are currently used in industry. This is an example of how _____ is applied to industry. (Points : 3)

Regulations

Technology

Laws

Social change

Economics

(TCO 5) _____ is the form of competition in which just a few companies control the majority of industry sales. (Points : 3)

Pure competition

Cross-market competition

Oligopoly

Monopolistic competition

Monopoly

(TCO 6) Which of the following statements about the problem recognition stage of the purchase decision process is most true? (Points : 3)

The decision maker perceives a difference between the actual and ideal situations, but it’s not big enough to trigger a decision

Advertisements can activate a consumer’s decision process by showing shortcomings of competing products

Advertisements can only activate a consumer’s decision process by showing shortcomings of currently owned products

The consumer pays attention to advertising suggesting criteria to use for the purchase

(TCO 6) Sophisticated firms have learned the marketing lesson that (Points : 3)

It is a lot easier to find new customers than to keep existing ones

The buying experience, customer satisfaction, and retention can increase firm profits

It is not clear whether it is easier to find new customers or to keep existing ones

Existing customers do not usually spend as much as new customers

Their focus should be on the four Ps and not the customer

(TCO 6) _____ buy raw materials and parts that they reprocess into the finished goods they sell. (Points : 3)

Retailers

Wholesalers

Manufacturers’ agents

Manufacturers

Ultimate consumers

(TCO 6) Which of the following is characteristic of the organizational buying process? (Points : 3)

Multiple parties participate in purchase decisions

Negotiation between buyers and sellers is commonplace

Online buying over the Internet is widespread

Buying objectives and criteria are typically spelled out

All of the above

(TCO 6) Seven of the most commonly used organizational buying criteria are (1) price, (2) ability to meet the quality specifications required for the item, (3) _____, (4) technical capability, (5) warranties and claim policies in the event of poor performance, (6) past performance on previous contracts, and (7) production facilities and capacity. (Points : 3)

Taste of the buyer

Personal friendship with sales representative

Ability to meet required delivery schedules

Current mood of the buyer

Opinion of the firm’s senior management

BUSN 319 Marketing Entire Course

Quiz Week 4 

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(TCO 1) The Book Promoters Association of Canada members recently questioned what could be done to rejuvenate the Canadian book publishing industry. Some members claimed the problem was Canadian retailers had been replaced by Wal-Marts. Others said the problem was with stodgy promotions. Still others said the problem was caused by too little money being budgeted to fund marketing programs. It was time that Canadian book publishers used __________ to save the industry.

Advertising

Sales promotion

Publicity

Marketing research

Tactical support

(TCO 1) The act of consciously choosing from alternatives is called

A dilemma

A quandary

Decision making

A paradox

A predicament

(TCO 1) During the marketing research process, __________ are the specific, measurable goals the decision maker seeks to achieve in conducting the marketing research.

Measures of success

Research objectives

Marketing research plans

Decisions

Definitions

(TCO 1) A test market is an example of which type of marketing research?

Descriptive

Explanatory

Exploratory

Causal

Concrete

(TCO 1) When Home Depot entered the Quebec market, two percent of the population was aware of the retail chain. To determine how effective its advertising was in the first 18 months of its presence in the Canadian province, it conducted awareness research for a second time. Prior to conducting the research, it was decided that if at least 50 percent of the population were aware of the Home Depot brand that it would continue its present advertising program. This is an example of a(n)

Objective

Constraint

Assumption

Measure of success

Barrier to entry

(TCO 3) Fisher-Price managers developed a(n) __________ for the Chatter Telephone that involved adding a noisemaker, wheels, and eyes to the basic telephone.

Vision

Alternative

Hypothesis

New-product concept

Opportunity

(TCO 1) Secondary data are the

Facts and figures that are newly collected for the project at hand

Facts and figures obtained by watching people mechanically rather than in person

Facts and figures obtained by asking people questions

Facts and figures that have already been recorded before the project

Conclusions developed from information obtained from a representative sample of a population

(TCO 3) The process of segmenting a market and selecting specific segments as targets is the link between the various buyer’s needs and

Self-regulatory industry standards

Government regulations

Top-level management

Controllable environmental factors

The organization’s marketing program

(TCO 3) MyTwinn makes dolls that look like young girls. For $119 they will make a doll that looks just like a photograph. So, if you send in the money and a photo of your young niece, she could have a doll that is her twin! This is an example of

Mass customization

Synergy

Target marketing

How the 80/20 rule is implemented

Repositioning

(TCO 6) The first step in segmenting and targeting markets is to

Recognize a need

Group potential buyers into segments

Create product groupings

Estimate size of the overall market

Develop a market-product grid

(TCO 6) Which of the following is NOT a criterion used in forming segments?

Potential for increased profit

Similarity of needs of potential buyers within a segment

Competitive position

Potential of marketing action to reach a segment

Simplicity and cost of assigning potential buyers to segments

(TCO 3, 5 & 6) A market-product grid is a framework to relate the market segments of potential buyers to

Estimated expenses for products sold

Total anticipated revenue

Total anticipated profit

Market share compared to closest competitor

Products offered or potential marketing actions by an organization

(TCO 6) Which of the following is a criterion used for selecting a target segment?

Potential for increased profit

Potential for increased profit

Difference of needs of buyers among segments

Potential of a marketing action to reach a segment

Competitive position

(TCO 3, 5 & 6) Changing the place an offering occupies in consumers’ minds relative to competitive products is called

Perceptual mapping

Product positioning

Product differentiation

Repositioning

Psychographics

(TCO 3, 5 & 6) Which of the following data are collected from consumers to develop a perceptual map for a particular product?

A listing of all prospective brands and products

Managerial judgments about how consumers perceive products

Identification of the important attributes for a product class

Rank order of the ratings of an existing brand’s preference relative to its competitors

All of the above types of data are collected from consumers

(TCO 1, 3, 5 & 6) A __________ is a group of products that are closely related because they satisfy a class of needs, are used together, are sold to the same customer group, are distributed through the same types of outlets, or fall within a given price range.

Product class

Product mix

Product line

Marketing category

Product category

(TCO 1, 3, 5 & 6) The terms continuous innovation, dynamically continuous innovation, and discontinuous innovation, are classifications based on

Generated sales

Production technology

Degree of learning required by the consumer

Channels of distribution

Industry growth

(TCO 1, 3, 5 & 6) When General Foods introduced Post Cereals with freeze-dried fruits, people found that by the time the fruit had absorbed enough milk, the flakes were soggy. Why did this product fail?

Poor product quality

Insignificant point of difference compared to competitive offerings

Too little market attractiveness

Poor execution of the marketing mix

No economical access to buyers

(TCOs 1, 3, 5, and 6) The stages a firm goes through to identify business opportunities and convert them into salable goods or services are called the

Situation analysis

New-product process

Strategic management process

SWOT analysis

Idea generation process

(TCO 1, 3, 5 & 6) A company defines the role for new products in terms of the firm’s overall corporate objectives in the __________ stage of the new-product process

Idea generation

Distinctive competency

New-product strategy development

Business mission

Strategic management process

(TCOs 3 and 6) The market testing stage of the new-product process often involves test markets or purchase laboratories in which the dependent variable is

Consumer attitudes

Price

Advertising

Product attributes

Sales

(TCO 3 & 6) Breyer’s introduced a new line of ice cream flavors for sale in elegant black containers. This was done on a limited scale to determine consumer reactions before national distribution of the product. Breyer’s new product was in the __________ stage of the new-product process.

Commercialization

Screening and evaluation

Business analysis

Development

Market testing

(TCO 1, 3, 5 & 6) A product in the introduction stage of the product life cycle should have which of the following marketing objectives?

Gain awareness and stimulate trial

Stress differentiation

Maintain brand loyalty

Maintain brand loyalty

Reveal a marketing niche

(TCO 1, 3, 5 & 6) When the National Cattlemen’s Beef Association advertises Beef, It’s What’s for Dinner it is trying to stimulate __________ demand.

Selective

Primary

Derived

Generic

Secondary

(TCO 1, 3, 5 & 6) The stage in the product life cycle labeled A in above Figure is called

Introduction

Maturity

Growth

Diversification

Decline

(TCO 1, 3, 5 & 6) Which of the following is a characteristic of the growth stage of the product life cycle?

Advertising emphasis switches to primary demand

Growing proportion of repeat purchasers to initial purchasers

Product features remain unchanged

Profit margins increase as sales increase

All of the above are characteristics of the growth stage of the product life cycle

(TCO 1, 3, 5 & 6) The apple that appears on every Apple computer product is an example of a

Copyright

Trade name

Service mark

Brand name

Generic brand

BUSN 319 Marketing Entire Course

Discussions Week 1-7 All Students Post 440 Pages

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What is Needed for Marketing to Occur? And Strategic Marketing Process Week 1 Discussions All Students Post 58 Pages 

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What is Needed for Marketing to Occur? – 30 Pages 

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  1. When you go for a job interview, is marketing taking place? Please discuss your reasons for answering yes or no.
  2. Think about your day today. How many times were you in a position when you fulfilled the criteria for marketing to occur? What were you marketing?
  3. What are the different kinds of things that can be exchanged in marketing? Give some examples….

Strategic Marketing Process – 28 Pages

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IBM: Using Strategy to Build a Better Planet. Read the case study on pages 46 and 47 in the text. Use the following questions as a guide to participate in the discussion.

  1. What is IBM’s Smarter Planet business strategy? How does this strategy relate to IBM’s mission and values?
  2. Discuss the strengths, weaknesses, opportunities, and threats associated with IBM’s Smarter Planet initiative.
  3. What are the relevant trends for IBM to consider for the next 3 to 5 years?…

Purchase Decision Process and Buyers and Markets Week 2 Discussions All Students Posts 62 Pages 

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Purchase Decision Process – 33 Pages 

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Groupon: Helping Consumers with Purchase Decisions. Read the Groupon case on pages 133–135 in the text. You may also watch the video at the publisher’s website if you choose. Use the following questions as a guide to participate in the discussion:

  1. How has an understanding of consumer behavior helped Groupon grow from 40 subscribers in Chicago in 2008 to 60 million subscribers in 40 countries today?
  2. What is the Groupon Promise? How does the Groupon Promise affect a consumer’s perceived risk and cognitive dissonance?
  3. Describe the five-stage purchase decision process for a typical Groupon user.

Buyers and Markets – 29 Pages 

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  1. Visit the website. What information can you find on this site that will help you to estimate size of market for your marketing plan topic?
  2. 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?

Class, is the market for your Course Project product or service local? National? International?

Understand Consumers and Target Marketing Week 3 Discussions All Students Posts 71 Pages 

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Understand Consumers – 35 Pages 

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Buyology: How “Neuromarketing” Is Trying to Understand Consumers. Read the Marketing Matters box on page 201 in the text.

  1. Why is neuromarketing important to marketers?
  2. What do you think about neuromarketing?
  3. Are you concerned that marketers will invade your privacy by influencing what you buy?

Have you taken an online survey? Participated in a focus group?….

Target Marketing – 36 Pages 

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“To Which Flock Do You Belong?” Read the Marketing Matters box on page 226 in the text. Go to www.mybestsegments.com and click the “Zip Code Look-Up” image. Then type in your ZIP code to find out what the most common segments are in your neighborhood.

  1. How can you use this information for your Course Project?
  2. What specific product or service organizations might be interested in targeting these segments?
  3. How could this information be used with social media?

Class, what’s the difference between demographic and behavioral segmentation? Can you think of an example?…

New Products and Building a Brand Week 4 Discussions All Students Posts 68 Pages 

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New Products – 34 Pages 

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When a National Brand Doesn’t Work in an Unfamiliar Market. Read the Marketing Matters box on page 250 in the text.

  1. What went wrong for these new product examples?
  2. What are some of the marketing reasons that new products fail?
  3. What are some organizational reasons that new products fail?

After you read the Marketing Matters section on page 250, let’s jump right in with the first question from above: What went wrong for these new product examples?…

Building Brand – 34 Pages 

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Mary Kay, Inc.: Building a Brand in India. Read the Mary Kay case study on pages 290–293 in the text. You may also choose to visit the publisher’s website to view the video, but this is optional.

  1. What is a positioning statement?
  2. What information should be included in a written positioning statement for Mary Kay?
  3. Is Mary Kay a global brand? Why or why not?

From a branding perspective, how can you carve a distinct place in the mind of your customer?…

Price Perception and Flexible Pricing Week 5 Discussions All Students Posts 58 Pages 

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Price Perception – 31 Pages 

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Energizer’s Lesson in Price Perception—Value Lies in the Eye of the Beholder. Read the Marketing Matters box on page 346 in the text.

  1. Why didn’t Energizer capture market share from Duracell when it priced its Advanced Formula brand the same as its standard AA battery?
  2. Consider the example of Energizer. How do you think that customers will perceive your course project product or service? How will you consider that in your pricing strategy?
  3. What are the circumstances in pricing a new product that might support skimming or penetration pricing?

Flexible Pricing – 27 Pages 

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Flexible Pricing—Is There Discrimination in Bargaining for a New Car? Read the Making Responsible Decisions box on page 355 in the text.

  1. Why would a seller choose a flexible price policy over a one price policy?
  2. Is price discrimination legal?

When was the last time you had to negotiate the price on a major purchase, like a car? Did you enjoy the process?… Let’s start our discussion by looking at some Super Bowl ads, and answering the questions above. Ready to have some fun this week? Here we go!…

Integrated Marketing Communications and Using Social Media Week 6 Discussions All Students Posts 65 Pages 

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Integrated Marketing Communications – 33 Pages 

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See Your Favorite Super Bowl Ads Again and Again! Read the Going Online exercise on page 462 in the text.

  1. Which ads are your favorites? What makes them good ads?
  2. Compare the ads from the same advertiser for different years. What changes do you notice?
  3. What message does your favorite ad convey?

Using Social Media – 32 Pages 

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What are some of your favorite social networks? Read the Marketing Matters box on page 501.

  1. Which is your favorite social network? Why?
  2. How is user-generated content presented by someone using Facebook?
  3. What are some ways that brand managers use Facebook to converse with a brand’s fans?

We work really hard to get those “likes” and followers, but then how do we maintain and nourish the digital conversation with them?…

Delivering the Goods and Marketing Mash Up: The Four Ps Marketing Mix Week 7 Discussions All Students Posts 58 Pages 

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Delivering the Goods – 30 Pages 

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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.

  1. How do Amazon.com’s logistics and supply chain management activities help the company create value for its customers?
  2. What systems did Amazon develop to improve the flow of products from suppliers to Amazon distribution centers?
  3. What systems improved the flow of orders from the distribution centers to customers?  Class, what are some of the factors that affect channel choice?…

After you complete the tutorial, please join our discussion here and explain your reasoning.

Which option did you choose for Our Town Photography? What rationale did you use to select the option you chose?

BUSN 319 Marketing Entire Course

Marketing Mash Up: The Four Ps Marketing Mix – Posts 28 Pages 

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Be sure to view the four Ps interactive in this week’s lecture prior to entering this discussion.

  1. Which option did you choose for Our Town Photography? What rationale did you use to select the option you chose?
  2. What changes would you recommend to the marketing mix for the Our Town Photography Premier Portrait Service?
  3. Comment on the following statement: There is a correct marketing mix for every product and/or service.

BUSN 319 Marketing Entire Course

Final Exam 

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(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

(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

(TCO 3) Which marketing strategy involves retaining focus on a single product line but marketing it to new markets? (Points : 5)

Full coverage

Market specialization

Product specialization

Selective specialization

Market-product concentration

(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 cost leadership, cost focus, differentiation focus, and (Points : 5)

Service leadership

Diversification

Reaction.

Differentiation

Quality focus

(TCO 2) Which of the following pieces of information is used in the implementation phase of the strategic marketing process? (Points : 5)

Corporate return on investment

Gantt charts

Revenues associated with each point of market share

Trends in past and current revenues for industry and competitors in total and by segment

Possible cannibalization effects on other products in the line

(TCO 6) Which of the following pieces of information is used in a SWOT analysis, the first step of the planning phase of the strategic marketing process? (Points : 5)

Corporate return on investment

Market share for the product

Revenues associated with each point of market share

Projection of future sales, expenses, and profits

Possible cannibalization effects on other products in the line

(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

Pretest the advertising

Schedule the advertising program

(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, _____, and ancillary services. (Points : 5)

Risk

Size

Durability

Accessibility

Acceptability

(TCO 4) The promotional objective of the decline stage of the product life cycle is to (Points : 5)

Inform

Persuade

Compare

Remind

None of the above

(TCO 2) The promotional mix includes _____, personal selling, sales promotion, public relations, and direct marketing. (Points : 5)

Promotion channel

Communication chain

Marketing matrix

Advertising

Media mix

(TCO 8) 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

(TCO 7) Price fixing is (Points : 5)

An arrangement a manufacturer makes with a reseller to handle only its products and not those of a competitor

The practice of charging a very low price for a product with the intent of driving competitors out of business.
The practice of charging different prices to different buyers for goods of like grade and quality

A conspiracy between firms to set prices for a product

A seller’s requirement that the purchaser of one product also buy another product in the line.
(TCO 2) Which of the following is NOT one of the six major pricing objectives? (Points : 5)

Profit

Unit volume

Breakeven

Survival

Market share

(TCO 3) The ratio of perceived benefits to price is called (Points : 5)

the price-quality relationship

prestige pricing

value-added pricing

value

value analysis

(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

(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

(TCO 1) A key role of the marketing department is to (Points : 5)

Allocate financial resources across business units

Set the overall mission of the company

Provide talent management services

Look outward

Assess global political situations

(TCO 1) Which of the following acts as a barrier to the development of relationship marketing? (Points : 5)

The large number of one-to-one relationships that customers are asked to sustain

The large number of products on the market

The increasing number of retail stores that are closing

The changing regulatory environment

Diluted cultural diversity

(TCO 1) Your neighbor is tired of conventional soft drinks and wants something different. Coincidentally, Cadbury Beverages Inc. has begun distributing Country Time lemonade through the supermarket at a price comparable to that of soft drinks. Which of the conditions needed for marketing to occur is described in this situation? (Points : 5)

The creation of unrealized needs

Two parties with unsatisfied needs

One-way communication

A physical location for an exchange to take place

Time and place utility

(TCO 6) Which of the following is the BEST description of the target market for the latest Disney animated movie? (Points : 5)

Everyone who can afford to buy a movie ticket

Everyone who likes movies

Professionals who are parents of children between the ages of 6 and 12

People who collect movie memorabilia

People who live near a movie theater

(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

(TCO 5) The Lemon Tree is a high-fashion boutique selling top-of-the-line women’s clothing and accessories. The keys to its success include knowing the customers’ changing tastes and providing something different from other retailers. In addition, because of the high value of the merchandise, The Lemon Tree’s management is exploring the use of computerized inventory controls and sales order processing. From this description, one can infer that the environmental category of least importance to The Lemon Tree is (Points : 5)

Economic

regulatory.

Technological

Social

Competitive

(TCO 7) Recently a federal appeals court rendered a unanimous decision that Microsoft Corp. does not have an automatic right to put whatever features it wants into its Windows operating system; rather, each new feature needs to be evaluated separately. Many of these features are also made by much smaller companies. This ruling grew out of the power that Microsoft holds in the software market, because it owns a major share of the marketplace. What purpose did this ruling have? (Points : 5)

Protecting companies from one another

Protecting consumers from unfair trade practices

Protecting the future interests of society from dangerous business practices

Protecting consumers from one another
Protecting businesses from unfair consumer practices
(TCO 6) Mile High Frozen Foods is a distributor for McDonald’s. It also bakes the buns used by McDonald’s in several states. Mile High purchases flour, yeast, and sesame seeds, manufactures the buns, and then distributes them to the retail stores. Mile High Frozen Foods is operating in a(n) _____ market. (Points : 5)

Reseller

Government

Institutional

Psychographic

industrial

(TCO 1) The Book Promoters Association of Canada’s members recently questioned what could be done to rejuvenate the Canadian book publishing industry. Some members claimed the problem was that Canadian retailers had been replaced by Walmarts. Others said the problem was with stodgy promotions. Still others said the problem was caused by too little money being budgeted to fund marketing programs. It was time that Canadian book publishers used _____ to save the industry. (Points : 5)

Advertising

Sales promotion

Publicity

Marketing research

Tactical support

(TCO 3) When Marine Midland Bank sent market researchers with surveys door-to-door in the neighborhoods of its branch banks to ask people with savings accounts why they did not also have checking accounts and credit cards with Marine Midland, the researchers were gathering _____ data. (Points : 5)

Questionnaire

Secondary

Intercept

Observational

Nonprobability

(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

(TCO 4) In the 1960s, television westerns were extremely popular. The shows were adventure shows with settings and costumes that were very unlike what really existed. There were Bonanza, Wagon TrainThe VirginianLaramie, and so on. When viewers gradually stopped watching this category of programs, production companies found that the networks no longer wanted to televise such shows. The television western as a product category entered the _____ stage. (Points : 5)

Decay

Diversification

Decline

Maturity

Harvesting

(TCO 8) In an episode of the Andy Griffith television series, two local farmers were selling the produce they grew on their farms from the backs of their pickup trucks to local people who drove by on the road. The farmers selling their products without wholesalers or retailers were an example of a (Points : 5)

Roadside channel of distribution

Traveling channel of distribution

Intermediate channel of distribution

Informal channel of distribution

Direct channel of distribution

(TCO 2) Allegra is an antihistamine, and to create brand awareness, its manufacturer is offering people who request information about the product a cushion to use at their favorite sporting event. Its television ad shows a woman half-heartedly watching some sporting event. The voiceover asks if she is bored or congested. Next scene, the person is having a great time and is uncongested after taking Allegra. This use of the same promotional theme throughout a company’s promotion is an example of how marketers use (Points : 5)

Media convergence

Niche marketing

Integrated marketing communications (IMC).

Marketing management

Marketing by objectives (MBO)

(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

(TCO 8) 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

(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)

(TCO 1) Imagine that you are the marketing manager responsible for developing marketing strategy for a bicycle company. Propose the strategic marketing process you will use, being sure the name the stages, the activities included in the stages, and stage-specific examples related to marketing bicycles. (Points : 30)

(TCO 4) You are the product manager responsible for a horrible product failure, but in your wisdom, you are evaluating why the product failed. What factors would you consider in your evaluation? What actions could you have taken to prevent the failure? Does product innovation need a willingness to accept failure? (Points : 30)

BUSN 319 Marketing Entire Course

DeVry