978-0077729028 Chapter 1 Answers To End Of Chapter

Type

Quiz

Book Title

Marketing 5th Edition

ISBN 13

978-0077729028

April 8, 2019

Chapter 1 - Overview of Marketing Marketing 5th

1.1.1.1.1.1.1.1 Answers To End Of Chapter Learning Aids

1.1.1.1.1.1.1.2 Marketing Applications

1 Do you know the difference between needs and wants? When companies that sell

frozen desserts develop their marketing strategy, do they concentrate on satisfying

their customers’ needs or wants? What about a utility company, such as the local

power company? A humanitarian agency, such as Doctors without Borders?

Needs are essential items that individuals cannot live without. These include necessities

like shelter, health care, basic food and basic transportation. Wants are products that

2 People can apply marketing principles to finding a job. If the person looking for a job

is the product, describe the other three Ps.

Students should define the remaining Ps in the marketing mix and better define the

product P. In addition, answers should consider how a person seeking employment can

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Chapter 1 - Overview of Marketing Marketing 5th

3 What is the difference between a good and a service? When you buy a music

subscription on Pandora, are you buying a good or service? Would your answer be

different if you bought an MP3 album on Amazon?

4 One of your friends was recently watching TV and saw an advertisement that she

liked. She said, “Wow that was great marketing!” Was the ad in fact marketing?

5 Using the four Ps, discuss how the Apple iBeacon will create value for customers.

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6 Columbia Sportswear sells a men’s fleece vest for $36.00 and an Omni-Heat Jacket

for $1,200. Is Columbia Sportswear providing the target markets for these products

with a good value? Explain your answer.

7 Assume you have been hired into the marketing department of a major consumer

products manufacturer, such as Nike. You are having lunch with some new colleagues

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Chapter 1 - Overview of Marketing Marketing 5th

8 Why do marketers like GE find it important to embrace societal needs and ethical

business practices? Provide an example of a societal need or ethical business practice

that GE is addressing.

This question centers on the role of social and ethical issues in a marketing context.

Students might mention efforts such as keeping the environment clean and offering fair

wages to workers. For example, GE develops multiple green initiatives. Some examples:



1.1.1.1.1.1.1.3 Net Savvy

1 Visit Apple (www.apple.com). What value does Apple provide customers? What are

the advantages to using Apple to buy music or to rent/buy videos?

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Chapter 1 - Overview of Marketing Marketing 5th

9 Go to Facebook.com and click on “About” at the bottom of the page, then click on the

About tab. What is Facebook’s mission? How could a marketer use Facebook, and

what other social media tools could he or she use? What are the drawbacks a

marketer might face when using Facebook?

Mission: Facebook's mission is to give people the power to share and make the world

more open and connected.

10 Visit Mondelez International’s website (www.mondelezinternational.com), then click

on the “Brand Family” link. In what major categories does Mondelez have brands?

Can you identify related categories in which they should compete?

1.1.1.1.1.1.1.4 Chapter Case Study: A Starbucks Juggernaut

1 Visit the Starbucks website and list some other ways, beyond those listed in the case,

that it tries to create and provide value with and for customers.

11 What sorts of expansions seem most likely to benefit Starbucks in the future? Which

seem most risky?

12 How can Starbucks ensure that it continues to meet customers’ expectations and

needs? List some specific ways.

13 Visit the Starbucks website and identify its latest promotion. How does this

promotion help create value for the customer, and ultimately, Starbucks?

14 Why can Starbucks charge so much for a latte when they are less expensive at chains

like Dunkin’ Donuts?

1.1.1.1.1.1.1.5 Additional Teaching Tips

In this chapter, the goal is to provide an overview of marketing and encourage students to

think about the specific aspects of the marketing mix.

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Chapter 1 - Overview of Marketing Marketing 5th

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