Fundamental changes, challenges and opportunities in marketing

ASSIGNMENT QUESTIONS Q & A

Part One Question answer in Essay form

Of the three major environments in a situation analysis (internal, customer, external), which do you think is the most important in a general sense? Why? What are some situations that would make one environment more important than the others? Answer this question in 5-7 paragraphs by fist briefly defining internal, customer and external as to how they relate to an environment is a situation analysis, before your conclusion on which is the most important and why? Plagiarism free, written in college content. Include and cite references.

Part Two Questions

Q & A Marketing Strategy Questions to be answered in the simplest, briefest form possible as if taking an exam? Answer each question with the answer following immediately after each question and please number them by chapter? Example: section one, question 1 and answer 1?

Section 1

1. What are some of the fundamental changes, challenges and opportunities of marketing in today’s economy (for example, power shift to customers, massive increase in product selection, audience and media fragmentation, shifting demand patterns, etc.).

2. What are some of the changes that the internet has brought to today’s economy?

3.What do we mean by commoditization?

4.What do we mean by media fragmentation? Are there any advantages of media fragmentation?

5. What is marketing?

6. What is a market and what do we mean by exchange?

7. What is a product and what do we mean by the four different types of utility (time, place, possession, and psychological utility).

8. What do we mean by strategic planning (know the different types of planning)

9. What do we mean by environmental scanning?

10. What do we mean by competitive advantage?

11.Know & list some of the major marketing strategy decisions (product positioning)

12. What do we mean that a product becomes a commodity?

Section 2

1. Know & list & briefly explain the different stages of the strategic planning process (situation analysis and marketing plan).

2. What do we mean by organization mission and vision?

3. What are the elements of a good mission statement?

4. What do we mean by the width of a mission statement?

5. What is corporate strategy?

6. What is business-unit strategy?

7. What is a strategic business unit?

8. What do we mean by competitive or differential advantage?

9. What is a marketing plan?

10. Know the different parts of the marketing plan.

11. Why is the executive summary very important?

12. What is the purpose and significance of the Marketing plan?

Section 3

1. What is a situation analysis and what are some of the issues to be considered in a situation analysis?

2. What do we mean by the internal and external environment?

3. What are the challenges in conducting a situation analysis?

4. What are some of the aspects of the internal environment and the customer environment (a. the 5W model – who are our current and potential customers, b.what do customers do with our products – c. derived demand, d. where do they purchase our products, e. when and why or, f. why not purchase our products?)

5.What do we mean by derived demand?

6. What are the different competitors that a firm has to face?

7. What are some of the aspects of the external environment?

8.What do we mean by brand, product, generic, and total budget competitors?

9. What are some examples of backstage technology?

10. What do we mean by corporate affairs and public relations?

11. What are some primary and secondary data sources (advantages and disadvantages)?

12.What are the advantages and disadvantages of internal data? What are the advantages of government data sources?

13. What is the impact of the internet in data collection?

Section 4

1.Why do we use the SWOT analysis and how can we make it more productive?

2. What are some of the benefits of SWOT analysis?

3. What are some of the problems of a SWOT analysis?

Know the SWOT, define the areas of a driven strategic planning (a. strengths are – b. weaknesses are – c. opportunities are –d. threats are)?

4. How do companies develop and leverage competitive advantages?

5.What do we mean by a. operational b. excellence, c. product d. leadership, and e. customer intimacy.

6.What do we mean by strategic focus?

7. What are some of the different strategies for companies to develop a strategic focus?

8. What do we mean by aggressive, defensive and diversified strategy?

9.What are marketing goals and objectives?

Section 5

1. Know the stages of the consumer buying process.

2. What is the difference between a need and a want?

3. What do we mean by the degree of risk in information search?

4. What is cognitive dissonance?

5. What are some of the factors that may affect the consumer buying process?

6. What do we mean by the evoked set of products?

7. What are some of the unique characteristics of business markets?

8. Segmentation?

9. What is mass marketing and differentiated marketing?

10. What is A. a multi- segment approach, B. a market concentration, and C.niche marketing?

11. What is one-to-one marketing and mass customization?

12. What are some of the criteria for successful segmentation?

13. What do we mean by behavioral, demographic, psychographic (VALS), and geographic segmentation?