Marketingquestions

1. Customers increasingly expect higher quality and service and some customization. They are more and more time-starved and want more convenience. They perceive fewer real product differences and show less brand loyalty. They can obtain extensive product information from the Internet and other sources that permit them to shop more intelligently. They are showing greater price sensitivity in their search for value.

Examine and document what factors have brought about customers higher expectations with their suppliers. What are the major shifts in marketing management that have brought about these shifts?

Suggested Answer: Students may not understand that our world’s capacity to produce products exceeds the needs. Therefore, customers have more choices and can be more demanding. The time crunch has allowed new providers to enter the market. For example, Netflix, competes effectively with Blockbuster Video because they deliver videos to your home. It’s service like this that fit the customer needs to satisfy what money can buy—time. Students may use appropriate marketing management shifts as described in the chapter.

2. Assume that you are directed to prepare short brief explaining the steps of Business Unit Strategic Planning-Process. Your task is to construct such a brief by carefully outlining the steps of the aforementioned process.

Suggested Answer: Refer to Figure 2.7 in the chapter for assistance. Students should be able to describe (in order) the business mission, SWOT analysis, goal formulation, strategy formulation, program formulation, implementation, and feedback and control. The descriptions do not need to be long; however, they do need to be consistent with the text material. Answers will vary but consistency should be a leaning goal.

Business Mission: Each business unit needs to define its specific mission within the broader company mission.

SWOT Analysis: The overall evaluation of a business’s strengths, weaknesses, opportunities, and threats....