Reference no: EM13977298

Please reword these paragraphs in your own words. Do not copy word by word or exact words from the paragraphs.

1- While reading this chapter the topic of buying process for the organization made me thinks of a recent purchased my job made with the group of employees involved for the hotel. Like the different stage first we had to recognize the problem from guest comments that would stay in the hotel and try to search new way to correct the complains about the room (from not enough light, uncomfortable furnitures etc.).As we all try to find solutions as the complains were from different departments, we each contacted different companies to negotiate prices and products we think would be a solution and went to the GM to make the final decision for each brand and its products. By the week ahead the comments cards we collect were more on the positive feedback and came back with very little negative comments. Also we are waiting on the reply's on the photos we took from the improved room to the ones who left the initial comment that spark the process.

2- I found the topic about market segment with either one product, multiple products to mass customization very interesting. As it talked about mass customization where a company would only focus on one product have the buyer/ customer worried about customize their product, where only one company comes to mind which is Apple and the IPhones. With the one design the customization for the buyer is limitless. Which leads to another market segment for the cell phone industries, but as other company (like Samsung) doesn't only have the one design for a cell phone but multiple design to meet different type of customer, an example of multiple products and multiple market Segments, but for Samsung company do you think having all those different design for cell phones be expensive and quite difficult to maintain the standards and quality to existing or potential buyers?

3- This video was very informative in the way that costumers should be targeted. The speaker talked about companies that sell the products with a high price and also make a lot of the product. These companies have found a way to meet the needs of their costumers that no one else can and because of this can put a very high value on their product. One of the companies mentioned was GE. GE makes a lot of products that people can get pretty much anywhere. The other thing they do is specialize in energy creation which they have designed a lot of turbine engines for. These engines are versatile as well not only do they provide the power to airplanes but they are also in the wind mills that provide power. What this tells me is that one way to be successful in business and in advertising is to provide the best service that to a costumer. Not every company can be GE but they can master what they do. If a company let's say a lawn service proves to be the absolute best and nobody can match up to them, then they can sell their service at a higher price. If they try to charge more than the competition but are only a little bit better than the competition then they will not be able to charge as much. But if they are by far the best and maintain their status by adapting to what other lawn services do and keeping that standard the same, then they will still be able to charge the higher rates. Advertising can only take a company so far the product has to back up what the advertisement says about them.

4- This video really talks a lot about adapting to the changes within a market. The example given was with Coke Zero. But looking past the example I saw seems to me to be the most important part of having a successful business for a long time. There are very few products that come out and never have to change. Even looking at a ratchet. The first ratchet I had had 27 teeth. When I used it I never thought about how it could be better until I saw someone with a 52 tooth ratchet. Now this ratchet won't be great working in tight areas and I don't have very much room to get a bolt out. And then a company came out with a 72 tooth ratchet and i thought it was about as good as it could get. The companies that made the tools new they had to keep improving to keep from becoming obsolete. The constant need to do research and asking the target market what they thing would make things better is what keeps companies successful. Having a good research team listening to what the people that use the product think is very important.

Discussion Question 1-

5-You are the owner of a mid-size business that sells medical devices to hospitals, clinics, and physicians. Your products include implantable devices (pacemakers) and equipment used for therapeutic applications such as dialysis, monitoring of blood sugars, and physical therapy for patients who have had major orthopedic surgery. Discuss how changes in the demographic dimensions of the country might affect your business, including both positive and negative outcomes.

Discussion Starter 2-

6- In your own words, what is marketing research? How has the Internet affected marketing research? As part of your answer, address time, cost, approaches, and validity. Why is marketing research important to developing marketing strategy?

PLEASE ANSWER THESE POSTS THAT MY TEACHER POSTED AS IF YOU WERE HAVING A CONVERSATION WITH HIM FACE TO FACE.

7- In a buyer-supplier relationship, the pressure to keep the relationship solid usually falls on the supplier. This is because the buyer has the need for the product, if the seller doesn't deliver quality and on time products the buyer will simply find another supplier. As long as the buyer has the money and a need for the product, they seller must keep them satisfied to keep them from doing business elsewhere.

8- How can marketers use online services and the Internet to obtain information for decision making?