Reference no: EM133068826
1. Marketing Plan
In chapter 2 of our text, the authors discuss marketing strategies and a marketing plan. Name a company that you believe has either a good marketing strategy or marketing plan. What do you feel makes it effective?
Also, why is having a formal marketing plan an important concept/idea for businesses? What happens if a plan is not in place?
2. Social media
Chapter 3 of the text, the 4E framework for social media is discusses.
1. Do you agree with these steps, do you believe this is the correct sequence?
2. Can this be used for any circumstance, or does this depend on the items that is being advertised via the social media avenue?
3. Post purchase Outcomes
On page 124 of your text, there is discussion around post purchase outcomes. Exhibit 6.3 shows customer satisfaction, customer loyalty, and post purchase cognitive dissonance as the outcomes. For a business, understanding consumer behavior, which of these three do you feel is the most important to cater to from a company perspective? This could be for either a service or product-based company. Is one of the three more important or are all three parts of a triangle that needs to be in balance.
4. Targeting
In chapter 9 of the text, the discussion centers around segmentation, targeting, and positioning. On page 191 of the text, Exhibit 9.7 looks at targeting strategies. For each of the four areas: differentiated, concentrated, micro-marketing (one-to-one), and undifferentiated (mass marketing), discuss what each of these means and give an example for each type.
When it is all said and done, is one of the four strategies better than the others? Why or why not?
5. Diffusion of Innovation Curve
In chapter 12 we talk about developing new products. Exhibit 12.2 (page 252) shows the Diffusion of Innovation Curve. Based on the five areas of time, which do you identify yourself as (Innovator, Early Adopter, Early Majority, Late Majority, Laggards)? From a marketing standpoint, why is it important to understand this exhibit and when people may purchase products?? Discuss your thoughts around where you view yourself and the importance of marketers understanding this.
6. The 5 C's of Pricing
We look at chapter 14 this week. On page 295 of your text, exhibit 14.1 the concept of the 5 Cs of pricing is discussed. The 5 Cs are comprised of: Competition, Costs, Company objectives, Customers, Channel members. Of these 5, do you feel that one is more important than the other? As companies grow, do they face differing demands from the 5 Cs as far as what they should concentrate on for pricing??
7. Omnichannel Marketing
In chapter 16 of our text, we look at retailing and omnichannel marketing. Exhibit 16.3 looks at types of retailers and the first column looks at food. There are four types of stores noted: Supermarket, Supercenter, Convenience, Warehouse. Discuss the following points:
What have the Supercenters and Warehouse stores done to the traditional Supermarkets? Have Supermarkets had to make changes due to this ever-growing competition?
What types of items do you buy from each of the four noted types of stores? For example, why would you buy items at a Convenience store versus a Supermarket? Discuss the role that each of the four plays in your shopping life.
8. Sales Promotion
In chapter 18 of our text, sales promotion is discussed. Starting on page 401, the authors list the types of sales promotions, examples being coupons, deals, contest, sweepstakes, etc... Pick and discuss two of them, discussing what they are and if you think the form of sales promotion is effective or not. Give your thoughts on the sales promotion medium.
(Book info: Grewal, D. Marketing 7e, McGraw-Hill, 2018. ISBN 9781260260359)