Reference no: EM133202320 , Length: Wrod Count: 200 words.
Assignment: Business Management
Textbook: A Framework For Marketing Management by Philip Motler and Kevin Lane Keller, Sixth Edition.
Chapter 9:
I. Provide a definition for these terms: Product, Customer-value hierarchy, Core benefit, Basic product, Expected product, Augmented product, Potential product, Convenience goods, Shopping goods, Specialty goods, Capital items, Product mix, Width, Depth.
II. Provide a real-world example for 5 of the terms from question I.
III. Think of a product sold by Best Buy. For this product, identify its product levels in the customer-value hierarchy: core benefit, basic product, expected product, and augmented product. Describe a "potential product" for the product you selected.
IV. Define each stage in the product life cycle: introduction, growth, maturity, and decline. For each stage, explain the marketing strategy used and name a product currently in this stage.
Chapter 10:
I. Provide a definition for the following terms: Service, Intangibility, Inseparability, Variability, Perishability.
II. Provide a real-world example for 5 of the terms from question I.
III. Assume you are an employee at Best Buy. A consumer has come to you with a complaint regarding a product he purchased. List 4 specific things you can do to turn this dissatisfied customer into a fan of Best Buy (and your boss won't object to).
IV. Explain the 6 strategies used to achieve excellence in services marketing: strategic concept, top-management commitment, high standards, profit tiers, monitoring systems, and satisfying customer complaints. For each strategy, name a company you think is implementing this strategy well.
Chapter 11:
I. Provide a definition for the following terms: Reference prices, Price-quality inferences, Price endings, Market-penetration pricing, Market -skimming pricing, Markup pricing, Target-return pricing, Perceived-value pricing, EDLP, Going-rate pricing.
II. Provide a real-world example for 5 of the terms from question I.
III. Explain the 6 steps involved in setting a price.
IV. Regarding ‘price sensitivity,' provide 5 reasons why a consumer may be less price sensitive.