Description

Chapter: 1- Marketing in Today’s Economy -Problem: 3 >> Think about all of the exchanges that you participate in on a weekly or monthly basis. How many of these exchanges have their basis in long-term relationships? How many are simple transaction-based exchanges? Which do you find most satisfying? Why?
Answer Preview: The nature of exchanges in our daily lives can vary widely, ranging from long-term relationships to simple transaction-based exchanges. Here's a break…

, Chapter: 8- Ethics and Social Responsibility in Marketing Strategy -Problem: 3 >> Look at several print, broadcast, online, or outdoor advertisements and try to find an ad that you believe is questionable from an ethical perspective. Defend why you believe the ad is ethically questionable.
Answer Preview: Here is an example of an advertisement that I believe is questionable from an ethical perspective: A…

, Chapter: 19 -Problem: 1 >> Analyze IMAX’s general and industry environments and identify the opportunities and challenges it faces.
Answer Preview: I usually start the session by asking if anyone has viewed an IMAX film recently A few hands go up Then I call upon the students to describe the film and the experience Students often speak highly of …

, Chapter: 6- The Marketing Program -Problem: 3 >> Shadow a salesperson for a day and talk about how his or her activities integrate with other promotional elements used by their firm. How does the salesperson set objectives? How is he or she made aware of the firm’s overall IMC strategy? Does the sales force participate in planning marketing or promotional activities?
Answer Preview: Shadowing a salesperson for a day can provide valuable insights into how their activities integrate with the overall promotional elements used by thei…

, Chapter: 2- Strategic Marketing Planning -Problem: 2 >> Talk with a small business owner about the strategic planning process he or she uses. Do they have a mission statement? Marketing goals and objectives? A marketing plan? What are the major issues he or she faces in implementing their marketing program?
Answer Preview: Conducting an interview with a small business owner about their strategic planning process and marketing efforts can provide valuable insights into th…

,

, Chapter: 3- Collecting and Analyzing Marketing Information -Problem: 3 >> Review the sociocultural trends in Exhibit 3.7. What other trends could be added to the list? What trends are specific to your generation that cannot be universally applied to all Americans? Transcribed Image Text: EXHIBIT 3.7 Trends in the U.S. Sociocultural Environment Demographic Trends Aging of
Answer Preview: Additional Sociocultural Trends: Digital Transformation: Increased reliance on digital technology and the internet for communication, shopping, and entertainment. Mental Health Awareness: A growing aw…

, Chapter: 1- Marketing in Today’s Economy -Problem: 3 >> The text argues that marketing possesses very few rules for choosing the appropriate marketing activities. Can you describe any universal rules of marketing that might be applied to most products, markets, customers, and situations?
Answer Preview: While marketing is a dynamic field with many variables and factors to consider, there are some universal principles and guidelines that can be applied to most products, markets, customers, and situati…

, Chapter: 6- The Marketing Program -Problem: 4 >> Review the steps in the AIDA model. In what ways has promotion affected you in various stages of this model? Does promotion affect you differently based on the type of product in question? Does the price of the product (low versus high) make a difference in how promotion can affect your choices? Explain.
Answer Preview: The AIDA model (Attention, Interest, Desire, Action) is a classic framework in marketing and advertising that outlines the stages a consumer typically …

, Chapter: 2- Strategic Marketing Planning -Problem: 1 >> Review each of the mission statements listed in Exhibit 2.2. Do they follow the guidelines discussed in this chapter? How well does each answer the five basic questions? What do you make of the changes or lack thereof in these mission statements over time? Transcribed Image Text: EXHIBIT 2.2 The Bes
Answer Preview: Boeing 1995: This mission statement is not specific enough. It does not answer the who, what, where, when, or why of the company's business. 2000: This mission statement is more specific, but it is st…

,

, Chapter: 1- Marketing in Today’s Economy -Problem: 1 >> The pace of change in our economy was frenetic from 1999 to 2001 (the so called dot-com boom) because of rapidly expanding technology and the growth of the Internet. Shortly thereafter, the bubble burst and many dot-com pioneers disappeared. Conduct some research to determine the reasons for the collapse. Most experts contend that a similar type of shakeout is unlikely today. What is different abo
Answer Preview: The dot-com bubble of the late 1990s and early 2000s was characterized by a speculative frenzy where many internet-related companies experienced skyrocketing valuations despite having little to no pro…

, Chapter: 5- Customers, Segmentation, and Target Marketing -Problem: 3 >> As discussed in the chapter, VALS is one of the most popular proprietary segmentation tools used in marketing segmentation. Go to the VALS website (www.strategicbusinessinsights.com/vals/ presurvey.shtml) and take the free VALS survey. Do you agree with the survey results? Why or why not?
Answer Preview: Yes, I agree with the survey results. VALS is a well-established and respected segmentation tool that has been used by businesses for many years. It i…

, Chapter: 5- Customers, Segmentation, and Target Marketing -Problem: 1 >> Consider the last purchase you made in these categories: personal electronics, clothing, and vacation destination. To what extent was your purchase decision influenced by decision-making complexity, individual influences, social influences, and situational influences? What specific issues were the most influential in making the decision? How could a marketer have swayed your decision in each case?
Answer Preview: Let's consider each of the three purchase categories you mentioned and how various factors influenced my decision: Personal Electronics (e g., Smartphone): Decision-Making Complexity: The decision for …

, Chapter: 4 -Problem: 1 >> Identify the external factors that have impacted and continue to impact the Indy Racing League and its marketing efforts. Which factors appear to be the IRL’s greatest threats?What are the IRL’s greatest strengths? Which weaknesses would you recommend that the IRL attempt to convert into strengths? How might these weaknesses be converted?What advantages does the IRL possess over NASCAR? How should
Answer Preview: 1 They should realize that an internal split that formed the IRL is responsible for the negative external factors Rather than being able to capitalize …

,

, Chapter: 3- Collecting and Analyzing Marketing Information -Problem: 2 >> Consider the last purchase you made (maybe it was lunch or a soft drink). List all of the brand, product, generic, and total budget competitors for that product. In a general sense, what would it take for you to switch to another type of competitor? Are there situations that would encourage you to switch to a generic competitor? When would total budget competitors become more relevant to your deci
Answer Preview: Let's consider a purchase of a soft drink: Brand Competitors: Coca-Cola (e g., Coca-Cola Classic, Diet Coke, etc.) Pepsi (e g., Pepsi-Cola, Pepsi Max, …

, Chapter: 1 -Problem: 1 >> What do you make of the battle between Gillette and Schick? Is the battle of one-upmanship good for either company? Gillette is the world’s premiere producer of grooming products; best known for its line of razors and blades. Since its inception in 1901, Gillette has always prided itself on providing the best shaving care products for men and women. In fact, the company was so visionary that it di
Answer Preview: The razors wars have certainly been good for both companies in terms of product innovation sales …

, Chapter: 13 -Problem: 1 >> Evaluate the methods used by FedEx to grow domestically and internationally. Why do you think the company initially had problems in its global operations?What are the major SWOT considerations in FedEx’s attempt to continue its growth and dominance in the domestic and global express delivery markets?Comment on the competitive landscape among FedEx, UPS, and DHL. How can FedEx make inroads into UPS
Answer Preview: 1 The purchase of Caliber System was the key to domestic expansion This acquisition gave FedEx the n…

, Chapter: 5 -Problem: 1 >> What role has Netflix played in the development of Blockbuster’s strategic planning? How important is Netflix to Blockbuster’s future strategic plans?How will new competition from Redbox and digital content providers force Blockbuster to alter its strategy?As an advisor to Keyes, what strategic options would you recommend for Blockbuster as the company moves forward? In particular, how would you a
Answer Preview: 1 Based on the information presented in the case Netflix has been one of the major catalysts forcing Blockbuster to change its business practices Unti…

, Chapter: 9 -Problem: 1 >> Rather than use focus groups to test its branding and messaging, New Belgium used insiders in the bike community and brewery friends who had a personal history and knowledge of the brand. Evaluate this decision. Should New Belgium have used the more traditional approach to ensure the widest possible input to its marketing strategy?The case mentions how the branding and communication strategy of Bo
Answer Preview: 1 There are numerous reasons why New Belgium would want to use people familiar with the product to t…

, Chapter: 20 -Problem: 1 >> What are the conceptual underpinnings of a dual-brand strategy?
Answer Preview: Dual branding is a form of strategic alliance It comes into play when two retailers having competed as brands in the past are managed under common ownership as a result of a merger or an acquisition B…

, Chapter: 19 -Problem: 3 >> Why was IMAX changing its business and corporate strategies? Could IMAX thrive as a niche player that made large format films and systems?
Answer Preview: As noted earlier IMAX generates its revenues and income from three sources system leasing theater operations and film distribution As the income state…

, Chapter: 20 -Problem: 2 >> What did Best Buy learn from its experience with dual-brand strategy in Canada?
Answer Preview: Real estate is a primary driver in a decision pertaining to dual branding To quote Noble from the case study Best Buy had already signed before percei…

, Chapter: 20 -Problem: 3 >> How does the Best Buy situation in China differ from its situation in Canada?
Answer Preview: See Exhibits TN3 and TN4 Exhibit 3 CHECKLIST FOR BEST BUY in Canada 2001 Characteristics Implications for Best Buy 1 The secondlargest country in the world by land mass but with a population of only 3…

, Chapter: 20 -Problem: 4 >> Does a dual-brand strategy provide Best Buy with a core competitive advantage as it expands into new global markets?
Answer Preview: Yes a dualbrand strategy provides a core competitive advantage Best Buy is the only company among its peers in the global consumer electronics CE indu…

, Chapter: 7 -Problem: 1 >> Comment on the strengths and weaknesses of Mattel’s core brands. In looking at Barbie specifically, what actions would you recommend to stem Barbie’s sales decline? Should Mattel accept the fact that the brand will never regain its former sales status? Explain.What opportunities and threats does Mattel face as it looks toward its future? Over the past fifty years, Mattel has grown to be the world’
Answer Preview: 1 The key strengths of all of Mattels brands are quality reputation and brand recognition Overall th…

, Chapter: 12 -Problem: 1 >> If you were in Kyle Vaughn’s position, which strategic option would you take? Explain your reasoning.Comment on the decision to license the Hottie Hawg’s brand rather than enter into a franchise agreement with Seymour. In the company’s situation, is it better to promote easier expansion through franchising or maintain tight control over brand image through licensing? Explain.Assume that Hottie Haw
Answer Preview: 1 Reasons for choosing any alternative are discussed in the Strategy AlternativesRecommendations sec…

, Chapter: 19 -Problem: 4 >> Evaluate changes in IMAX’s business and corporate strategies. Could increasing the number of Hollywood movies released in IMAX format dilute the IMAX brand? What are other examples of brand dilution?
Answer Preview: IMAX has followed a twopronged growth strategy First it has chosen to generate growth by going beyond the cloistered museum environments and into the neighborhood multiplexes While this strategy does …

, Chapter: 19 -Problem: 2 >> Discuss IMAX’s business strategy and analyze how IMAX’s resources, capabilities and competencies support its business and corporate strategies.
Answer Preview: These questions are useful in directing the student to apply Porters generic strategy framework and the resourcebased view of the firm to identify the …

Additional Information

9 Reviews for Marketing Strategy Textbook Questions And Answers