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Discuss the importance of pricing decisions to the economy and to the individual firm.
List and explain a variety of pricing objectives. Establishing realistic and measurable pricing objectives is a critical part of any firm’s marketing strategy.
Your firm has based its pricing strictly on cost in the past. As the newly hired marketing manager, you believe this policy should change.
Divide the class into teams of five. Each team will be assigned a different grocery store from a different chain. (An independent is fine.)
Translate the price per volume into price per ounce. Our 14-ounce can costs $.064 per ounce? Now rank the price per ounce (we’ll call it x).
What does the result of your calculation tell you about the correlation between the price and the quality of the canned vegetable or fruit you selected?
Describe media evaluation and selection techniques. Media evaluation and selection make up a crucial step in the advertising campaign process.
Discuss the creative decisions in developing an advertising campaign. Before any creative work can begin on an advertising campaign
Identify the major types of advertising. Advertising is any form of impersonal, paid communication in which the sponsor or company is identified.
Discuss the reasons why new brands with a smaller market share spend proportionately more on advertising than brands with a larger market share.
Who does Vans consider to be its core consumers? How does the company reach them with its marketing messages?
What do sponsors tell you about target markets? After analyzing the ads, write a brief paragraph summarizing your discoveries.
You have been hired by the purveyor of your chosen product to create a print advertisement.
Should Creative Advertising meet the client’s expectations (i.e., create the promotional spot) or risk losing the account? Explain your reasoning.
How did Burger King manage the negative publicity it received over the content of its Coq Roq Web site?
Define and state the objectives of sales promotion. Sales promotion consists of those marketing communication activities.
What kind of marketing budget would you need to take advantage of its services? What kind of company would be best served by uPromote.com?
Discuss the role of personal selling in promoting products. What advantages does personal selling offer over other forms of promotion?
What are the key differences between relationship selling and traditional methods of selling?
What does sales follow-up entail? Why is it an essential step in the selling process, particularly from the perspective of relationship selling?
Describe the functions of sales management. Sales management is a critical area of marketing that performs several important functions.
Does the AMA Statement of Ethics address this issue? Go to www. marketingpower.com and review the code.
Which of the six components of Nordstrom’s retailing mix do you think have been the most important to the company’s success? Why?
Sephora is working out the details of a new loyalty program, and they have asked you to give your input and advice. What do you tell them?
Discuss the role of promotion in the marketing mix. Promotion is communication by marketers that informs, persuades, and reminds potential buyers.