Reference no: EM13338341

1. The text defines marketing as managing profitable relationships, and later in Chapter 1 talks about measuring the value of customers with the idea that some customers are not worth keeping.  In your view what are the pros and cons of using this approach?

2. If we look at the product life cycle, what are your options in the decline stage?  Explain each.

3. Also in the product life cycle, do you see any correlation between the Boston Consulting group model of product management (Stars, Cash Cows, Rising Stars, etc.)  Explain.

4. Explain what attributes a market segment needs to have to be viable.

5. In looking at Chapter 3 we discussed a major omission in the material covered within this chapter.  (It had to do with the company’s many “publics”) that was not properly covered. What was it and why did we decide it should be a separate category?

In this chapter we discussed the nature of the consumer market in terms of the various generations (X, Y, Boomers, etc.) and how it is changing.  In chapter five we also covered the makeup of the consumer market in terms of an over-riding culture, and various subcultures.  The examples in the text all related these subcultures to different ethnic backgrounds ( Asian- and African-American).  In your opinion, could there be other types of possible sub cultures? Explain.

6. What are some of the key differences between developing, marketing and delivering a service to customers and doing the same for a physical product?

7. Pick a type of consumer product (convenience, shopping, unsought, et. al) and describe how knowing that affects making decisions about the four P’s.

8. How can classifying the type of a business-to-business product help you make marketing decisions?

9. How do business markets differ from consumer markets?