Week 08 Chapter 13: #1, 6, 7, 9 International Trade and Exchange Rates

CH16, Q7. Describe the type of media that might be most suitable for promoting:

(a) Tomato soup, (b) Greeting cards, (C) A business component material, and (d) Playground equipment. Specify any assumptions necessary to obtain a definite answer.

(a) Tomato soup - Soup might do well with a traditional 30-second commercial spot, because when people watch TV, they are usually home, and they might get the craving for a nice bowl of soup. Also marketing with coupons in a Sunday paper.

(b) Greeting cards - To promote greeting cards, emphasize how much more "personal" a "real" card is, to discourage the email cards, and place the merchandise in places where people will buy them on impulse (airports, hospitals, etc).

(C) A business component material - Business is a hard category - because it depends on what type of business. Maybe with something like an ad on an online news service, or maybe if it’s office supplies, a weekly electronic coupon would work.

(d) Playground equipment – This is another hard category, but I would say that web and press would be the best types of media to promote this because it is a service that people usually search for whenever they need it, it is not something that is purchased out of an impulse.

CH17, Q1. Identify the strategy decisions a marketing manager must make in the Price area. Illustrate your answer for a local retailer.

The marketing manager must decide who to target, how to target them, and how often/how much to target them. Understanding who will be interested in the product's message is of primary importance because that group's characteristics determine the rest of the marketing strategy. Once the desired target groups are identified, knowledge about them must be obtained to determine which advertising vehicles will be most effective in reaching them and developing pricing strategies with the goal of maximizing the firm's profits or share of the market while ensuring the firm's customers are satisfied....