In the context of marketing strategies, explain the significance of the marketing mix.
What will be an ideal response?
Answers will vary. Once you've clearly defined your target market, your next challenge is to develop compelling strategies for product, price, distribution, and promotion. The blending of these elements becomes your marketing mix:Product strategy: Product strategy decisions range from brand name, to product image, to package design, to customer service, to guarantees, to new product development, and more.Pricing strategy: To deliver customer value, your prices must be fair, relative to the benefits of your product.Distribution strategy: The goal is to deliver your product to the right people, in the right quantities, at the right time, in the right place.Promotion strategy: Promotion includes all of the ways that marketers communicate about their products. Successful promotional strategies typically evolve in response to both customer needs and competition.As you decide to enter foreign markets, you'll need to reevaluate your marketing mix for each new country. Should it change? If so, how should it change? Many business goods simply don't require much change in the marketing mix, since their success isn't dependent on culture.
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Which type of retailer is much larger than a regular supermarket and offers a large assortment of routinely purchased food products, nonfood items, and services?
A) discount stores B) specialty stores C) factory outlets D) superstores E) off-price outlets
SCENARIO-BASED QUESTIONS Adapting A Message To Different Audiences You have borrowed your boss's car to meet an important client for a working lunch. You are running late for the meeting, so you take an alternative route. You are going a little over the
speed limit, and it is drizzling. As you try to stop at an intersection, you realize that the brakes of the car are not functioning. You slide about 8 feet into the intersection. Before you can do anything, you are hit on the passenger's side. It looks like you may miss lunch altogether. In small groups, consider the previous details and consider how you would relay the information to one of the following audiences assigned to you. Although you may emphasize or de-emphasize certain information or change the order of things, you should not substantially change the basic facts. Also, indicate the channel or medium you may want to select, depending on the audience. Your boss Your co-worker who has been in three accidents during the past year A co-worker who thinks you are a trouble maker A police officer who asks you to recount the events An insurance agent who will be adjusting your rates A lawyer representing you in court and needs to know all the facts A significant other who is behind you and supports you no matter what In a role play situation, retell the story to your assigned audience.
An interview in which an applicant is given a hypothetical incident and is asked how he or she would respond to it is a
A. computer interview. B. panel interview. C. situational interview. D. nondirective interview.
Christine admires her friend Paul's extraverted nature. She knows that he is always ready to meet with her and other colleagues to share ideas. Christine's knowledge about Paul portrays the _____ component of her attitude.
A. affective B. stereotypical C. affirmative D. cognitive E. dissonance