...CHAPTER 7 Discussing the Concepts 1. Briefly describe the four major steps in designing a customer-driven marketing strategy. a. Segmenting Consumer Markets which is to divide the total market into smaller segments. b. Targeting which is to select the segment or segments to enter. c. Differentiation which is to differentiate the market offering to create superior customer value. d. Positioning which is to position the market offering in the minds of target customers. 2. Name and describe the four major sets of variables that might be used in segmenting consumer markets. Which segmenting variables does Starbucks use? a. The four variables that segment and make it possible to identify consumer markets are defined below: A. Geographic segmentation: Consumer markets are identified based on their geographical unit of identification such as: nations, regions, states, counties, cities and neighborhoods. The ability to identify such geographic specifics allows a company to penetrate specific demographics for their particular marketing and advertising strategies; their strategies may target specific locales or more general markets in whole according to the determination of their needs and wants. B. Demographic segmentation: The most commonly utilized base and easiest to measure for identifying customer groups is demographic segmentation which correlates consumer needs, wants and usage/frequency...
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...Chapter 2 Chapter Objectives: 1. Explain companywide strategic planning and its four steps. 2. Discuss briefly how to design business portfolios and develop growth strategies. 3. Explain marketing’s role under strategic planning and how marketing works with its partners to create and deliver customer value. 4. Describe the elements of a customer-driven marketing strategy and mix, and the forces that influence it. 5. List the marketing management functions, including the elements of a marketing plan. COMPANYWIDE STRATEGIC PLANNING: DEFINING MARKETING’S ROLE The task of selecting an overall company strategy for long-run survival and growth is called strategic planning. Companies typically prepare annual plans, long-range plans, and strategic plans. Strategic planning is the process of developing and maintaining a strategic fit between the organization’s goals and capabilities and its changing market opportunities. Refer to Figure 2.1 on pg. 63, which shows the 4 steps in strategic planning. 1. Defining a Market-Oriented Mission Many organizations develop formal mission statements. A mission statement is a statement of the organization’s purpose – what it wants to accomplish in the larger environment. A clear mission statement guides people in the organization. A market-oriented mission statement defines the business in terms of satisfying basic customer needs. See Table 2.1 (pg. 64) for market-oriented vs. product-oriented definitions. ...
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...CHAPTER 2 COMPANY AND MARKETING STRATEGY: PARTNERING TO BUILD CUSTOMER VALUE AND RELATIONSHIPS PREVIEWING THE CONCEPTS – CHAPTER OBJECTIVES 1. Explain company-wide strategic planning and its four steps. 2. Discuss how to design business portfolios and develop growth strategies. 3. Explain marketing’s role in strategic planning and how marketing works with its partners to create and deliver customer value. 4. Describe the elements of a customer-driven marketing strategy and mix and the forces that influence it. 5. List the marketing management functions, including the elements of a marketing plan, and discuss the importance of measuring and managing return on marketing investment. JUST THE BASICS CHAPTER OVERVIEW In this chapter, we dig deeper into steps two and three of the marketing process—designing customer-driven marketing strategies and constructing marketing programs. First, we look at the organization’s overall strategic planning. Next, we discuss how marketers partner closely with others inside and outside the firm to serve customers. We then examine marketing strategy and planning—how marketers choose target markets, position their market offerings, develop a marketing mix, and manage their marketing programs. Finally, we look at measuring and managing return on marketing investment. ANNOTATED CHAPTER NOTES/OUTLINE FIRST STOP Nike’s Customer-Driven Marketing: Building Brand Engagement and Community The Nike “swoosh”...
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...Contemporary Marketing: Chapter 3 Questions: 1. How would you categorize Generation X using the five segments of the marketing environment? A: Competitive Environment B: Political-legal environment C: Economic environment D: Technological environment E: Social-cultural environment 2. Joe and Ryan both have storefronts in the local mall. Joe sells candies and Ryan sells pretzels. Are Joe and Ryan in direct competition with each other? A: Yes B: No Consumer Behavior and Marketing Reading: Contemporary Marketing: Chapter 5 Questions: 1. Rachel and Sarah’s parents always purchased groceries from the local Aldi marketplace. What is this type of behavior an example of? A: Cultural influences B: Social Influences C: Personal factors 2. Maryanne purchases Maxwell House coffee every two weeks from the grocery. What is this type of behavior an example of? A: Routinized Problem Solving B: Limited problem solving C: Extended problem solving 3. Aaron does research on several local colleges before applying to his first three choices. This is an example of: A: High – involvement purchase decision B: Low – involvement purchase decision Marketing Plans Reading: Contemporary Marketing: Chapter 2 + Ch. 2 Appendix Web sites: http://www.jpec.org/handouts/jpec33.pdf http://www.netmba.com/marketing/process/ Questions: 1. Strategies are designed to meet objectives. Tactics are designed to implement strategies. Are tactics...
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...Marketing Management, 14e (Kotler/Keller) Chapter 1 Defining Marketing for the 21st Century 1) Which of the following statements about marketing is true? A) It is of little importance when products are standardized. B) It can help create jobs in the economy by increasing demand for goods and services. C) It helps to build a loyal customer base but has no impact on a firm's intangible assets. D) It is more important for bigger organizations than smaller ones. E) It is seldom used by nonprofit organizations. Answer: B Page Ref: 4 Objective: 1 Difficulty: Easy 2) ________ is the art and science of choosing target markets and getting, keeping, and growing customers through creating, delivering, and communicating superior customer value. A) Marketing management B) Knowledge management C) Operations management D) Strategic management E) Distribution management Answer: A Page Ref: 5 Objective: 2 Difficulty: Easy 3) Identify the correct statement about marketing management. A) It is primarily concerned with the systematic gathering, recording, and analysis of data about issues related to marketing products and services. B) It focuses mostly on monitoring the profitability of a company's products and services. C) It focuses solely on attaining an organization's sales goals in an efficient manner. D) It is defined as the field that deals with planning and managing a business at the highest level of corporate hierarchy. E) It occurs when at least...
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...Chapter One: Introduction to Quality The History and Importance of Quality • Quality assurance – refers to any action directed toward providing consumers with products (goods and services) of appropriate quality. • Usually associated with some form of measurement and inspection. • Egyptian wall paintings from around 1450 B.C. show evidence of measurement and inspection. The Age of Craftsmanship • During the Middle Ages in Europe, the skilled craftsperson served as both manufacturer and inspector. • Manufacturer – dealt directly with the customer. • Quality assurance was informal, every effort was made to ensure that quality was built into the final product by the people who produced it. • During the middle of the 18th century, Honore Le Blanc developed a system for manufacturing muskets to a standard pattern using interchangeable parts- -- Thomas Jefferson then brought the idea to America -- In 1798 the U.S. government awarded Eli Whitney a contract to supply 10,000 muskets to the government in two years’ time. -- Overall the concept of interchangeable parts was recognized, and it eventually led to the industrial revolution. The Early 20th Century • The work of Frederick W. Taylor, “The Father of Scientific Management”, led to a new philosophy of production. • His philosophy was to separate the planning function...
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...Marketing: An Introduction, 10e (Armstrong/Kotler) Chapter 1 Marketing: Managing Profitable Customer Relationships 1) Which of the following is most essential to any definition of marketing? A) demand management B) the production concept C) customer relationships D) making a sale E) making a profit Answer: C Diff: 1 Page Ref: 4 Skill: Concept AACSB: Communication Objective: 1-1 2) All of the following are accurate descriptions of modern marketing today, EXCEPT which one? A) Marketing is the creation of value for customers. B) Marketing is managing profitable customer relationships. C) Selling and advertising are synonymous with marketing. D) Marketing involves satisfying customers' needs. E) Marketing is used by for-profit and not-for-profit organizations. Answer: C Diff: 1 Page Ref: 4-5 Skill: Concept AACSB: Communication Objective: 1-1 3) According to management guru Peter Drucker, "The aim of marketing is to ________." A) create customer demands B) identify customer demands C) make selling unnecessary D) set realistic customer expectations E) sell products Answer: C Diff: 2 Page Ref: 5 Skill: Concept AACSB: Communication Objective: 1-1 4) ________ is defined as a social and managerial process by which individuals and organizations obtain what they need and want through creating and exchanging value with others. A) Selling B) Advertising C) Bartering D) Marketing E) Negotiating Answer: D Diff: 2 Page Ref: 5 Skill:...
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...environment……………………………………….23 Profile……………………………………………………………….24 Short Term Objectives………………………………………………27 Long Term Objectives………………………………………………28 Boundaries……………………………………………………………29 Implementation………………………………………………………31 Recommendations…………………………………………………...33 Strategic Evaluation Pick n Save is owned by Roundy’s who is in turn owned by Willis Stein & Partners, an equity investment firm based in Chicago. This paper will focus on the relationship between Roundy’s and Pick n Save and briefly touch on the influence of the parent company. Some parts of the paper wills stress areas fo the Pick n Save store because it is the largest of the four banners of Roundy’s. We have determined the current market and geographic location to be concentrated in southeast Wisconsin and moving West to Minnesota. A long term object of Willis Stein & Partners is to create a distribution chain from Chicago to Milwaukee. Our evaluation of Roundy’s strategic goals have resulted in identification of several grand strategies that Roundy’s uses in its daily operations as well as short and long term goals. An interesting note is that in the supermarket environment, Roundy’s and similar companies will sell their own brand of goods along with there competitors goods side by side. So Roundy’s is a distributor of grocery goods, health and beauty, and other household items, as well as a manufacturer of the about items....
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...This page intentionally left blank Download at www.Pin5i.Com Essentials of Systems Analysis and Design Download at www.Pin5i.Com Editorial Director: Sally Yagan Editor in Chief: Eric Svendsen Executive Editor: Bob Horan Editorial Assistant: Ashlee Bradbury Director of Marketing: Patrice Lumumba Jones Executive Marketing Manager: Anne Fahlgren Senior Managing Editor: Judy Leale Production Project Manager: Kelly Warsak Senior Operations Supervisor: Arnold Vila Operations Specialist: Cathleen Petersen Creative Director: Blair Brown Senior Art Director/Design Supervisor: Janet Slowik Text Designer: Michael Fruhbeis Creative Director/Cover: Jayne Conte Cover Designer: Suzanne Duda Cover Art: Fotolia/3d mosaic/©Redshinestudio Manager, Rights and Permissions: Hessa Albader Media Project Manager: Lisa Rinaldi Media Editor: Denise Vaughn Full-Service Project Management: Tiffany Timmerman/S4Carlisle Publishing Services Composition: S4Carlisle Publishing Services Printer/Binder: Courier/Kendallville Cover Printer: Lehigh-Phoenix Color/Hagerstown Text Font: ITCCentury Book Credits and acknowledgments borrowed from other sources and reproduced, with permission, in this textbook appear on appropriate page within text. Microsoft® and Windows® are registered trademarks of the Microsoft Corporation in the U.S.A. and other countries. Screen shots and icons reprinted with permission from the Microsoft Corporation. This book is not sponsored or endorsed by or affiliated with the Microsoft...
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...Marketing Management, Millenium Edition Philip Kotler Custom Edition for University of Phoenix Excerpts taken from: A Framework for Marketing Management, by Philip Kotler Copyright © 2001by Prentice-Hall, Inc. A Pearson Education Company Upper Saddle River, New Jersey 07458 Marketing Management Millenium Edition, Tenth Edition, by Philip Kotler Copyright © 2000 by Prentice-Hall, Inc. All rights reserved. No part of this book may be reproduced, in any form or by any means, without permission in writing from the publisher. Compilation Copyright © 2002 by Pearson Custom Publishing. This copyright covers material written expressly for this volume by the editor/s as well as the compilation itself. It does not cover the individual selections herein that first appeared elsewhere. Permission to reprint these has been obtained by Pearson Custom Publishing for this edition only. Further reproduction by any means, electronic or mechanical, including photocopying and recording, or by any information storage or retrieval system, must be arranged with the individual copyright holders noted. This special edition published in cooperation with Pearson Custom Publishing Printed in the United States of America 10 9 8 7 6 5 4 3 2 1 Please visit our web site at www.pearsoncustom.com ISBN 0–536–63099-2 BA 993095 PEARSON CUSTOM PUBLISHING 75 Arlington Street, Suite 300, Boston, MA 02116 A Pearson Education Company SECTION ONE Understanding Marketing Management Marketing in...
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...Chapter 6: Analyzing Consumer Markets GENERAL CONCEPT QUESTIONS Multiple Choice 1. ________ is the study of how individuals, groups, and organizations select, buy, use, and dispose of goods, services, ideas, or experiences to satisfy their needs and wants. 1. Target marketing 2. Psychographic segmentation 3. Psychology 4. Consumer behavior 5. Product differentiation Answer: d Page: 150 Difficulty: Easy AACSB: Analytic Skills 2. The fundamental determinant of a person’s wants and behavior is the person’s ________. 1. psyche 2. national origin 3. culture 4. peer group 5. family tree Answer: c Page: 150 Difficulty: Medium AACSB: Analytic Skills 3. A child growing up in the United States is exposed to all of the following values EXCEPT ________. 1. achievement and success 2. activity 3. efficiency and practicality 4. the importance of the group in daily life 5. freedom Answer: d Page: 150 Difficulty: Medium AACSB: Reflective Thinking 4. Which of the following would be the best illustration of a subculture? 1. A religion 2. A group of close friends 3. Your university 4. A fraternity or sorority 5. Your occupation Answer: a Page: 150 Difficulty: Hard 5. Based on information provided in the text, which of the following trends has lead to increased household consumption? 1. Growing female economic power ...
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...Introduction to Supply Chain Management Technologies Second Edition Introduction to Supply Chain Management Technologies Second Edition David Frederick Ross CRC Press Taylor & Francis Group 6000 Broken Sound Parkway NW, Suite 300 Boca Raton, FL 33487-2742 © 2011 by Taylor and Francis Group, LLC CRC Press is an imprint of Taylor & Francis Group, an Informa business No claim to original U.S. Government works Printed in the United States of America on acid-free paper 10 9 8 7 6 5 4 3 2 1 International Standard Book Number-13: 978-1-4398-3753-5 (Ebook-PDF) This book contains information obtained from authentic and highly regarded sources. Reasonable efforts have been made to publish reliable data and information, but the author and publisher cannot assume responsibility for the validity of all materials or the consequences of their use. The authors and publishers have attempted to trace the copyright holders of all material reproduced in this publication and apologize to copyright holders if permission to publish in this form has not been obtained. If any copyright material has not been acknowledged please write and let us know so we may rectify in any future reprint. Except as permitted under U.S. Copyright Law, no part of this book may be reprinted, reproduced, transmitted, or utilized in any form by any electronic, mechanical, or other means, now known or hereafter invented, including photocopying, microfilming, and recording, or in any information storage or retrieval...
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...of North America (Garreau, 1982), Latitudes and Attitudes: An Atlas of American Tastes, Trends, Politics and Passions (Weiss, 1994) and Mastering Global Markets: Strategies for Today’s Trade Globalist (Czinkota et al., 2003). When reflecting on the nature of markets, consumer behaviour and competitive activities, it is obvious that no product or service appeals to all consumers and even those who purchase the same product may do so for diverse reasons. The Coca Cola Company, for example, varies levels of sweetness, effervescence and package size according to local tastes and conditions. Effective marketing and business strategy therefore requires a segmentation of the market into homogeneous segments, an understanding of the needs and wants of these segments, the design of products and services that meet those needs and development of marketing strategies, to effectively reach the target segments. Thus focusing on segments is at the core of organizations’ efforts to become customer driven; it is also the key to effective resource allocation and deployment. The level of segment aggregation is an increasingly important issue. In today’s global economy, the ability to customize products and services often calls for the most micro of segments: the segment of one. Following and implementing a market segmentation strategy allows the firm to increase its profitability, as suggested by the classic price discrimination model which provides the theoretical rationale for segmentation. Since...
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...Business Information Systems in Your Career C H A P T E R 1 STUDENT LEARNING OBJECTIVES After completing this chapter, you will be able to answer the following questions: 1. How are information systems transforming business, and what is their relationship to globalization? Why are information systems so essential for running and managing a business today? What exactly is an information system? How does it work? What are its people, organization, and technology components? How will a four-step method for business problem solving help you solve information system-related problems? How will information systems affect business careers, and what information systems skills and knowledge are essential? 2. 3. 4. 5. 2 C HAPTER O UTLINE Chapter-Opening Case: The New Yankee Stadium Looks to the Future 1.1 The Role of Information Systems in Business Today 1.2 Perspectives on Information Systems and Information Technology 1.3 Understanding Information Systems: A Business Problem-Solving Approach 1.4 Information Systems and Your Career 1.5 Hands-On MIS Projects Business Problem-Solving Case: What’s the Buzz on Smart Grids? THE NEW YANKEE STADIUM LOOKS TO THE FUTURE Although baseball is a sport, it’s also big business, requiring revenue from tickets to games, television broadcasts, and other sources to pay for teams. Salaries for top players have ballooned, as have ticket prices. Many fans now watch games on television rather than attending them in person...
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...Yu, Wantao (2011) Operations strategy, business environment, operations resources and performance: an empirical study of retail firms in China. PhD thesis, University of Nottingham. Access from the University of Nottingham repository: http://eprints.nottingham.ac.uk/14191/1/546558.pdf Copyright and reuse: The Nottingham ePrints service makes this work by researchers of the University of Nottingham available open access under the following conditions. · Copyright and all moral rights to the version of the paper presented here belong to the individual author(s) and/or other copyright owners. · To the extent reasonable and practicable the material made available in Nottingham ePrints has been checked for eligibility before being made available. · Copies of full items can be used for personal research or study, educational, or notfor-profit purposes without prior permission or charge provided that the authors, title and full bibliographic details are credited, a hyperlink and/or URL is given for the original metadata page and the content is not changed in any way. · Quotations or similar reproductions must be sufficiently acknowledged. Please see our full end user licence at: http://eprints.nottingham.ac.uk/end_user_agreement.pdf A note on versions: The version presented here may differ from the published version or from the version of record. If you wish to cite this item you are advised to consult the publisher’s version. Please see the...
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