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- As a marketing consultant, a prospective business man has approach you to advise him on his intention of venturing into the market with a new product. 1. Explain to him the approaches he can consider 2. Analyze the factors that need to be consider for each approach. 3. Illustrate to him the potential stages of the market his product needs to survive to be successful on the market.Read and consider the following scenarios. Determine whether this pertains to existing customers, prospects, or target market users. Fill in the blanks with your response. Prospect 1. For school purposes, students must purchase a tablet or laptop. _2. To boost her immune system, Marina needs to buy her vitamin C. 3. A student needs mobile data in order to comply with the requirements in school. _4. Diego, who works in a factory, need transportation. 5. A sari-sari store owner wants to go online selling. _6. Hospitals need facemasks and PPES.5 Type the correct answer in the box. Spell all words correctly. Which type of light is primarily used as a light source in stores? light is primarily used as a light source in stores. Reset
- One of the following statements is NOT always true about Marketing Plans. Select one: a. Good Marketing Plans identify risks and include potential contingency plans b. Good Marketing Plans include information that documents and justifies the strategic and tactical decisions c. The Strategic Marketing Process provides the framework for the Marketing Plan d. Good Marketing Plans that are properly implemented lead to winning outcomes and results (relative to the competition). e. Good Marketing Plans will include sales forecasts and budgetsADVERSE SELECTIONSomet Health Insurance Company wants to sell a health insurance product for $700 permonth. There is no requirement for healthy people to have insurance coverage. Thecompany conducts a survey to see how different populations respond to the proposed cost.People with no illnesses and disabilities, generally the young and healthy, respond that theydo not spend $700 on healthcare in an entire year, and most feel they would not waste somuch money on premiums when the chance of needing surgery or expensive healthcaretreatments is so small. However, older, sicker people think that $700 per month is a greatdeal, as most of them spend far in excess of this amount on healthcare. It seems like agreat deal for them.1. If the company offers this product, how will adverse selection affect it?CLO #1 - Identify, define, and describe key marketing components, product life cycle, 3Cs and 4Ps and corresponding marketing strategies. CLO #2 - Recommend solutions to marketing problems using appropriate concepts, principles, analytical techniques, and theories. CLO #3 - Evaluate the quality of proposed solutions to marketing management problems against appropriate criteria, including organizational constraints. CLO #4 - Summarize the relevance and application of concepts, principles, and theories used in marketing to contemporary events and global markets and evaluate marketing decisions. CLO #6 - Evaluate the ethical implications and aspects of social responsibility of certain marketing campaigns and strategies.
- Secondary market research is generally less valuable than primary market research. Which of the are reasons why this is true? (There may be multiple reasons — check all which apply) Group of answer choices Market conditions may change more rapidly than we expect. So if the research is not fresh there is a chance it will not accurately reflect the market. Secondary market research is cheaper. When you oversee new market research, you know the assumptions which go into the research which means you are better able to interpret the data. Market researchers of earlier research might have omitted information critical to the questions you need to answer.When reviewing the performance of an implemented marketing strategy which factors are likely to be considered?SalesGross marginNumber of consumersCoupon redemptionROIAll are correctNone are correct2. What company document is used to develop other important company documents?marketing planpositioning statementmission statementPositioning statementAll are correctAll are incorrect3. A document with four elements that together provide instructions/directions to guide markeing strategy such as; product development, promotion, place, price and target consumers.positioningsegmentationtargetingvalue propositionPositioning statementnone of these answers are correct4. When reviewing the performance of an implemented marketing strategy which factors are likely to be considered?SalesGross marginNumber of consumersCoupon redemptionROIAll are correctNone are correctOne of the benefits of value driven marketing is attention to customer needs and wants will likely result in: recessions O increased competition O long-term loyalties. O stronger relational dialogues among competing firms in the marketplace. O all of the above
- iness MarketingQ&A LibraryWhat are the significant findings/ key matters of Southwest Airlines What are the significant findings/ key matters of Southwest Airlines close Get live help whenever you need from online tutors!Try bartleby tutor todayarrow_forward Question Rollin King and Herb Kelleher started Southwest Airlines in 1971 with this idea: if they could take airline passengers where they want to go, on time, at the lowest possible price, and have a good time while doing it, people would love to fly their airline. The result? No other airline in the industry's history has enjoyed the customer loyalty and extended profitability for which Southwest is now famous. The company now flies more than 3,400 times each day to over 64 destinations across the United States There's more to the story, however, than making promises and hoping to fulfill them. A large part of Southwest Airlines' success lies in its ability to plan long-term capacity to better match demand,…PART 1: Choose one company that offers multiple products or services. For example: Gap Inc has Old Navy, The Gap, and Banana Republic PART 2: Imagine that this company is looking to launch several marketing campaigns throughout 2022 and they need to know what types of campaigns would be most effective. You are responsible for comparing TWO existing product/service customers so the marketing campaigns will have the biggest impact. What kinds of research methods would you use to get that information (You should name at least 3)? Why would you use these methods?PART 1: Choose one company that offers multiple products or services. For example: Gap Inc has Old Navy, The Gap, and Banana Republic PART 2: Imagine that this company is looking to launch several marketing campaigns throughout 2022 and they need to know what types of campaigns would be most effective. You are responsible for comparing TWO existing product/service customers so the marketing campaigns will have the biggest impact. What kinds of research methods would you use to get that information (You should name at least 3)? Why would you use these methods? thnkyouuuuuuuuuuuuuuu