Chapter1:AnOverviewofMarketing

1.Whatdoestheideaofmarketorientationentail,andwhatareitsimplications?(pp.56) Itisbasedonanaggressivesalesforce,butratheronacustomersdecisiontopurchaseaproduct.

Focusingoncustomerwantsandneedssothattheorganizationcandistinguishitsproducts fromcompetitorsofferings.

Integratingalltheorganizationsactivities,includingproduction,tosatisfythesewants. Achievinglongtermgoalsfortheorganizationbysatisfyingcustomerwantsandneedslegally andresponsibly.

2.Whataresomecharacteristicsoffirmsinterestedincustomervalue?(p.7) Offerproductsthatperform Earntrust Avoidunrealisticpricing Givethebuyerfacts Offerorganizationwidecommitmentinserviceandaftersalessupport

3.Withinthecontextofcustomersatisfaction,whatdidthestudyoncustomerattrition show?(p.7) Itshowedthatreducingcustomerattritionby5to10percentcouldincreaseannualprofitsbyas muchas75percent.

4.Whatdoesthestrategyofrelationshipmanagementinvolve?(pp.78) Focusesonkeepingandimprovingrelationshipswithcurrentcustomers,bothofthempreferto haveanongoingrelationshipratherthanswitchallthetime,alsomostsuccessfulrelationship marketingstrategiesdependoncustomerorientedpersonnel,effectivetrainingprograms, employeeswithauthoritytomakeandsolveproblems,andteamwork.

5.Withinthecontextofpersonnelandcustomersatisfaction,whatdoestheideaof empowermentinvolve?(pp.89)

Manymarketorientedfirmsaregivingemployeesmoreauthoritytosolvecustomerproblems; thisisthedelegationofauthority.Empowermentgivescustomersthefeelingthattheir concernsarebeingaddressedandgivesemployeesthefeelingthattheirexpertisematters

Chapter2:StrategicPlanningforCompetitiveAdvantage
1.Whatarereasonsforwritingamarketingplan?(p.16) Itcanprovideclearlystatedactivitiesthathelpemployeesandmanagersunderstandandwork towardcommongoals. Allowyoutoexaminethemarketingenvironmentinconjunctionwithinnerworkingsofthe business Allowsthemarketingmanagertoenterthemarketplacewithanawarenessofpossibilitiesand problems.

2.Whatdoesmarketingmyopiainvolve,andwhatareitsimplications?(p.17)

Defineabusinessintermsofgoodsandservicesratherthanintermsofbenefitsthat customersseek Myopiameansnarrow,shorttermthinking

3.WhatisaSWOTanalysis,whatisinvolved,andhowisitused? Thefirmshouldidentifyitsinternalstrengths(S),weaknesses(W),examineexternal opportunities(O),threats(T) InternalS&W:maketingmanagershouldfocusonproductioncoasts,marketingskill,financial resources,brandimage,employeecapabilities,availabletechnology,ex)W:theageofAirTran Airwaysairplanefleet,couldprojectanimageofdangerorlowquality,S:loweroperatingcosts, lowerpricesforcustomers. ExternalO&T:environmentalscanning,thecollectionandinterpretationofinformationabout forces,events,relationshipintheexternalenvironmentthatmayaffectthefutureofthe organization.Ex)JacksonHewitt,ataxpreparationservice,benefitsfromcomplexchangesin taxcodesthatmotivatecitizenstojointheservicetomanagetheirtaxreturns,buttax simplificationorflattaxplanswouldhelppeopletomanagetheirownreturnseasily,andwould haveabigimpactonthecompanysrevenues.

4.Whatdoesacompetitiveadvantageinvolve?(p.19) Beingthelowcostcompetitorinanindustrywhilemaintainingsatisfactoryprofitmargins

5.Withinthecontextofcostasacompetitiveadvantage,whataresomewaysinwhich costscanbereduced?(pp.1920).Youwillnotbeaskedtolistallthefactors,butyou shouldunderstandwhateachoneinvolves. Experiencecurves:costsdeclineatapredictablerateasexperiencewithaproductincrease, firmuseECasabasisforpredictingandsettingprices Efficientlabor:animportantcomponentoftotalcosts Nofrillsgoodandservices:marketerscanlowercostsbyremovingfrillsandoptionsfroma productorservice.Ex)southwestlowfaresbutnoseatassignmentormeals Governmentsubsidies:providegrantsandinterestfreeloans Productdesign:cuttingedgedesigntechnologycanhelpoffsethighlaborcosts,reverse engineering,theprocessofdisassemblingaproductpiecebypiecetolearnitscomponents andobtaincluesastomanufacturing,itcansaveresearchanddesigncosts Reengineering:fundamentalrethinkingandredesignofbusinessprocessestoachieve dramaticimprovementsincriticalmeasuresofperformance Productioninnovations:newtechnologyandsimplifiedproductionhelplowertheaveragecost ofproduction Newmethodofservicedelivery:airlinesareloweringreservationandticketingcostsby encouragecustomerstouseinternettobookflightsandonlinecheckin 6.Whatdoesasustainablecompetitiveadvantageinvolve?(p.21) Anadvantagethatcannotbecopiedbythecompetition

7.Whatarethefourlistedstrategicalternativesfordiscoveringmarketingopportunities? Whatdoeseachoneinvolve?(p.22) Marketpenetration:trytoincreasemarketshareamongexistingcustomers Marketdevelopment:attractingnewcustomerstoexitingproducts Productdevelopment:thecreationofnewproductsforcurrentcustomers Diversification:strategyofincreasingsalesbyintroducingnewproductsintotwomarkets

8.Whatdoesamarketingopportunityanalysis(MOA)involve?(pp.2324) Thedescriptionandestimationofthesizeandsalespotentialofmarketsegmentsthatareof interesttothefirmandtheassessmentofkeycompetitorsinthesemarketsegments

9.Whatdoevaluation,control,andthemarketingauditinvolve?(p.26) Evaluation:gaugingtheextenttowhichmarketingobjectiveshavebeenachievedduringthe specifiedtimeperiod Control:providesthemechanismsforevaluatingmarketingresultsinlightoftheplans objectiveandforcorrectingactionsthatdonothelptheorganizationreachthoseobjectives withinbudgetguidelines Marketingaudit:thorough,systematic,periodicevaluationoftheobjectives,strategies, structure,andperformanceofthemarketingorganization,helpsmanagementallocate marketingresourcesefficiently 10.Whataresomecharacteristicsofamarketingaudit?(pp.2627) Comprehensive:coversallmajormarketingissuesfacinganorganizationandnotjusttrouble spots Systematic:takesplaceinanorderlysequence Independent:normallyconductedbyaninsideoroutsidepartywhoisindependentenoughto havetopmanagementsconfidenceandtobeobjective Periodic:formaxbenefit,shouldbecarriedoutonaregularscheduleinsteadofonlyinacrisis

Chapter3:SocialResponsibility,Ethics,andtheMarketing Environment

1.Whatdoestheideaofsustainabilityinvolve?(p.29) Theideathatsociallyresponsiblecompanieswilloutperformtheirpeersbyfocusingonthe worldssocialproblemsandviewingthemasopportunitiestobuildprofitsandhelptheworldat thesametime

2.WhatdoesthePyramidofCorporateSocialResponsibilityinvolve?(pp.2930)

Amodelthatsuggestscorporatesocialresponsibilityiscomposedofeconomic,legal,ethical, andphilanthropicresponsibilitiesandthatthefirmseconomicperformancesupportstheentire structure.Abusinessisexpectedtoobeythelaw,dowhatisright,andfair,andtobeagood citizen

3.Whataresomefactorsthatappeartoinfluenceethicaldecisionmakingandjudgments? (p.31)

Extentofethicalproblemswithintheorganization:marketingprofessionalswhoperceivefewer ethicalproblemsintheirorganizationstendtodisapprovemorestronglyofunethicalor questionablepracticesthanthosewhoperceivemoreethicalproblems.

Topmanagementactionsonethics:topmanagerscaninfluencethebehaviorofmarketing professionalsbyencouragingethicalbehavioranddiscouragingunethicalbehavior

Potentialmagnitudeoftheconsequences:thegreatertheharmdonetovictims,themorelikely willrecognizeaproblemasunethical

Socialconsensus:thegreaterdegreeofagreementamongmanagerialpeersthatanactionis harmful,themorelikelythatmarketerswillrecognizeaproblemasunethical

Probabilityofaharmfuloutcome:thegreaterthelikelihoodthatanactionwillresultinaharmful outcome,themorelikelythatmarketerswillrecognizeaproblemasunethical

Lengthoftimebetweenthedecisionandtheonset:theshorterthelengthoftimebetweenthe actionandtheonsetofnegativeconsequences,themorelikelythatmarketerswillperceivea problemasunethical

Numberofpeopletobeaffected:thegreaterthenumberofpersonsaffectedbyanegative outcome,themorelikelythatmarketerswillrecognizeaproblemasunethical

4.WhataresometraditionalvaluesthattendtoguideAmericans?(p.33)

Selfsufficiency:everypersonshouldstandonhisorherowntwofeet Upwardmobility:successwouldcometoanyonewhogotaneducation,workedhardand playedbyrules Workethic:hardwork,dedicationtofamily,andfrugalityweremoralandright Conformity:nooneshouldexpecttobetreateddifferentlyfromeverybodyelse

5.Whatdoestheideaofcomponentlifestylesentail?(pp.3334)

Alifestyleisamodeofliving,itisthewaypeopledecidetolivetheirlives,theyarechoosing productsandservicesthatmeetdiverseneedsandinterestsratherthanconformingto traditionallifestyle

6.Howhavetweensbeenfoundtorespondtotelevisionadvertisements?(p.34) 92%oftweensrecognizetelevisioncommercialsforwhattheyarejustadvertising,and52% saidtheytuneoutduringtelevisioncommercials,becausetheyarerepeatandboring

7.Whataresomecharacteristicsthathavebeenfoundtobecommonamongmembersof GenerationY?(p.35) Impatient:nosurprisethattheyexpectthingstobedonenow Familyoriented:theyhadstablechildhoodsandveryfamilyfocusedtime,sotheytendto haveastrongerfamilyorientation. Inquisitive:wantingtoknowthereasonswhythingshappen,howthingsworkandwhatthey candonext Opinionated:todaysyouthhavebeenencouragetosharetheiropinionsbytheirparents,they feelsthattheiropinionsarealwaysneededandwelcomed Diverse:genyisthemostethnicallydiversegeneration,sotheyaremuchacceptingoverallof peoplewhoaredifferentfromthemselves Goodmanagersoftime:theirentireliveshavebeenscheduled,theyhavepickedupaknack forplanningalongtheway

Savvy:havebeenexposedtotheinternetandcableTV,sotheyarenoteasilyshocked,they aremuchmoreawareoftheworldaroundthemthanearliergenerationswere

8.Relativetotheothergenerationalgroups,howlargeagroupistheBabyBoomers?(p. 36) Thereare77millionbabyboomers(peoplebornbetween1946and1964(

9.Whathasbeenfoundwithrespecttotheretirementbehaviorsandexpectationsofthe BabyBoomers?(p.36)

Peoplenowintheir50smaywellworklongerthananypreviousgeneration,morethan60 percentofmenaged60to64expectedtobeintheworkforcein2012,upfromabout54 percentin1992

10.WhathasbeenfoundregardingproductpreferencesandbrandloyaltyamongHispanic Americanconsumers?(p.37) Hispanicsoftenpreferproductsfromtheirnativecountry,ifthebrandsfoundintheirhomeland arenotavailable,theywillchoosebrandsthatreflecttheirnativevaluesandculture.

11.Whatdoespurchasingpowerinvolve,andtowhatextentdoregionaldifferencesoccur? (pp.3940) Itismeasuredbycomparingincometotherelativecostofasetstandardofgoodsandservices indifferentgeographicareas,usuallyreferredtoasthecostofliving.Incomeminusthecostof living.Ex)livinginNYCmustbeearnnearly$279,500tohavethesamestandardoflivingas someonemaking$90,000inOhio

12.IntheU.S.,howdoesthehouseholdincomecontributedbywomencomparetothat contributedbymen?(p.39) Womenbringinhalformoreofthehouseholdincome.51.3%ofprivatewealth,80%of householdspending,68%ofnewcars,66%ofcomputers,60%ofhomeimprovement,53%of investment

13.WhataresomeopportunitiesformarketersprovidedbyRSSandblogging?(p.41)

Advancingtechnologyallowtodaysmarketerstoscanblogsandlearnaboutconsumeropinion asitsbeinggenerated,byexpandingtheirsearchestoincludepubliclypostedblogcontent suchasphotos,userprofiles,andhyperlinks,marketersareabletosegmentmarketsand profileindividualswithnewfoundspeedandaccurary

14.HowawaredoconsumersingeneralappeartobeabouthowtheInternetandother technologieshaveaffectedthecollectionofpersonaldata?(pp.4445) Mostconsumersareunawareofhowtechnologyisusedtocollectpersonaldataorhow personalinformationisusedanddistributedafteritiscollected

Chapter4:DevelopingaGlobalVision

1.Whatdoestheideaofglobalvisioninvolve?(p.47) Marketingthattargetsmarketsthroughouttheworld,hasbecomeanimperativeforbusiness

2.Whataresomefearsandbenefitsofglobalization?(p.48) Fears: 1)millionsofAmericanshavelotsjobsduetoimports,productionshiftsaboard,oroutsourcing oftechjobs.Mostfindnewjobs,thatoftenpayless 2)fearlosingtheirjobs,especiallyatthosecompaniesoperatingundercompetitivepressure 3)employersoftenthreatentooutsourcejobsifworkersdonotacceptpaycuts 4)serviceandwhitecollarjobsareincreasinglyvulnerabletooperationsmovingoffshore Benefits: Expandseconomicfreedom,spurscompetition,andraisestheproductivityandlivingstandards ofpeopleincountriesthatopenthemselvestotheglobalmarketplace. Forlessdevelopedcountries,globalizationalsooffersaccesstoforeigncapital,globalexport markets,andadvancedtechnologywhilebreakingthemonopolyofinefficientandprotected domesticproducers.

3.Whataresometypicalpracticesandcharacteristicsofmultinationalcorporations?(You donotneedtoknowaboutthestagesofmultinationality). Acompanythatisheavilyengagedininternationaltrade,beyondexportingandimporting,they moveresourcesgoods,services,andskillsacrossnationalboundarieswithoutregardtothe countryinwhichtheheadquartersislocated

4.Whataresomereasonsexpressedforconcernabouttheeffectsofmultinational corporationsonlessdevelopedcountries?Specifically,whatissaidabouttechnology transfer?(p.50) Theyoftenpossessandcantransferthemostuptodatetechnology,howeverclaimthatoften thewrongkindoftechnologyistransferredtodevelopingcountriesandthusdoesnot substantiallyincreaseemployment

5.Whatdoesglobalmarketingstandardizationinvolve?(p.50) Productionofuniformproductsthatcanbesoldthesamewayallovertheworld

6.Whataresomelegalmeasuresthatareusedtoeitherencourageordiscourage importation? (p.52)

Tariff:ataxleviedonthegoodsenteringacountry Quota:alimitontheamountofaspecificproductthatcanenteracountry Boycott:theexclusionofallproductsfromcertaincountriesorcompanies,ex)governmentsuse boycottstoexcludecompaniesfromothercountrieswithwhichtheyhaveapoliticaldispute

Exchangecontrol:alawcompellingacompanyearningforeignexchangefromitsexportsto sellittoacontrolagency,usuallyacentralbank

Marketgrouping:occurswhenseveralcountriesagreetoworktogethertoformacommon tradeareathatenhancestradeopportunities Tradeagreement:anagreementtostimulateinternationaltrade

7.Whataresometypesofintermediariesinvolvedinexport,andwhatfunctionsdoeseach serve?(pp.5556) Buyerforexport:intheglobalmarketthatassumesallownershiprisksandsellsgloballyforits ownaccount,ex)extentthatitsproductsareboughtinforeignmarkets Exportbroker:playsthetraditionalbrokersrolebybringingbuyerandsellertogether,ex) agriculturalproductsandrawmaterials Exportagent:actslikeamanufacturersagentfortheexporter.Theexportagentlivesinthe foreignmarket,ex)helpingwithinternationalfinancingandshipping

8.Whataresomefactorsfavoringanddisfavoringstandardizedproductsacrosscountries? (p.58)

9.Whataresomedistributionchallengesfacedinmanydevelopingnations?(p.59) Channelsofdistributionandthephysicalinfrastructureareinadequate

10.Whatcausesexchangeratestochange,andhowdoesthisaffectinternationaltrade? (pp.5960) Floatingexchangerates,pricesofdifferentcurrenciesmoveupanddownbasedonthe demandforandthesupplyofeachcurrency DollardepreciatestoYenandYenappreciatesrelativetothedollar,sotheybuymoreUS goods,USexportrise

11.Whatdoesthepracticeofdumpinginvolve,andwhatarecommonresultsofthis practice?(p.60) Thesaleofanexportedproductatapricelowerthanthatchargedforthesameoralike productinthehomemarketoftheexporter Dumpingmayoccurasaresultofexporterbusinessstrategiesthatincludes: Tryingtoincreaseanoverseamarketshare temporarilydistributingproductsinoverseasmarketstooffsetslackdemandinthehome market

1. 2.

3. 4.

loweringunitcostsbyexploitinglargescaleproduction attemptingtomaintainstablepricesduringperiodsofexchangeratefluctuations

12.Whatdoescountertradeinvolve,andhowdoesitwork?(p.60) aformoftradeinwhichallorpartofthepaymentforgoodsorservicesintheformofother goodsorservices straightbarter,ex)Malaysiangovernmentbought20dieselpoweredlocomotivesandpaidfor themwithpalmoil

13.Whataresomefactorswhichseemtoholdbacktradefromthepromisesofborderless commerceandtheglobalInterneteconomy???(p.61) theyarebeingrestrainedbyculturaldifferencesandoldlinesrule,regulationsandtaxes

Chapter5:ConsumerDecisionMaking
1.Whataresomefactorsthathelpdeterminetheconsumerslevelofinvolvement?(p.68) previousexperience:afterrepeatedproducttrials,consumerslearntomakequickchoices interest:apersoninvolvedinbikeracingwillbemoreinterestedinthetypeofbikesheowns perceivedriskofnegativeconsequences: 1. 2. financialriskduetolossofwealthorpurchasingpower socialrisktheybuyproductsthatcanaffectpeoplessocialopinionsofthemlikeold cars,unstylishclothes psychologicalrisktheyfeelmakingwrongdecisionmightcauseconcernoranxiety,like eatingunhealthyfoods

3.

situation:circumstancesofapurchasemaytransformfromalowinvolvementdecisionintoa highinvolvementone,likebuysomecannedfruitincasualdays,butforpartiesdinnerthey buyhighqualityfreshfood. socialvisibility:productsoftenonsocialdisplayincludeclothing,cars,jewelry,theseitems makeastatementaboutthepurchaser

2.Whatarethemarketingimplicationsofinvolvement?(pp.6869)

promotiontothetargetmarketshouldbeextensiveandinformative,agoodadgives consumerstheinformationtheyneedformakingthepurchasedecision.forlowinvolvement productpurchase,consumersmaynotrecognizetheirwantsuntiltheyareinthestore,so marketingmanagersfocusinpackagedesign,likeeyecatchingandeasilyrecognize.In storepromotionsandagooddisplaywouldstimulatesales.

3.Whataresubcultures,andwhataretheirimplications?(p.70) ahomogenousgroupofpeoplewhoshareelementsoftheoverallcultureaswellasunique elementsoftheirowngroup baseondemographiccharacteristics,geographyregions,nationalandethnicbackground, politicalbeliefs,andreligiousbelief subculturaldifferencesmayresultinconsiderablevariationwithinacultureinwhat,how, whenandwherepeopletobuygoods

4.Whatareopinionleaders,andwhatistheirsignificance?(pp.7374) anindividualwhoinfluencestheopinionsofothers thefirsttotrynewproductsandservicesoutofpurecuriosity,theyaretypicalselfindulgent, makingthemmorelikelytoexploreunprovenbutintriguingproductsandservices.Teensare targetedtobetheopinionleadersbecausetheyarewillingtoexperiment

5.

Howcanblogsbeusefulinidentifyingopinionleaders?Whataresomeproblems

experiencedinattemptingtodothis?(p.74) Thenumbersofconsumersreadingblogsareincreasing,theproblemisthereareover25 millionuniqueblogsand70,00newcomingonlineeveryday,soitsgettinghardertoseparate thetrueopinionleadersfromintermediatewebuserswhoarejustsharerandomthoughts

6.Whatdoesthesocializationprocessinvolve,andwhatisitssignificance?(p.74) 7.Whataresomegenderdifferencesthathavebeenobservedinconsumerbehavior?(p. 75) 8.Whatdoestheideaofaconsumerselfconceptinvolve,andwhatisitssignificance?(pp. 7677)

9.Whatarethesignificanceofthephenomenaofselectiveexposure,selectivedistortion, andselectiveretention?(p.7778) 10.Whataresomemarketingimplicationsofperception?(p.78)

Chapter6:BusinessMarketing
1.Withinthecontextofonlinesalestobusinesscustomers,whataresomepotential measurementsofsuccess?(p.84) 2.Whatiswebsitestickiness,andwhatisthesignificanceofthis?(p.84) 3.Whatisdisintermediation,andtowhatextenthasthistakenplaceoverthelastseveral years?Howdoesthisactualimpactcomparetoexpectations?(p.85) 4.Whatisakeiretsu,andwhatareitsimplications?(pp.8687) 5.Whataresomemajorcategoriesofbusinesscustomers,andwhataremajor characteristicsofeach?(pp.8788) 6.Whatisderiveddemand,andwhatareitsimplications?(p.89) 7.Howelasticorinelasticdoesthedemandformostbusinessproductstendtobe?What causesthislevel?(p.89) 8.Whatisthesignificanceofjointdemand?(p.89) 9.Whatisthesignificanceofreciprocitywithinbusinesstobusinessdeals?(pp.9091) 10.Whatarebuyingcenters,howdothesework,andwhatistheirsignificance?(pp.9394) 11.Howdonewbuys,modifiedrebuys,andstraightrebuysdiffer?(pp.9495)