1. Relate how advertising impacts the price of a product. Select one "good" and one "service" product, for each of these products analyze how price impacts their sales. Describe if the price of each is elastic or inelastic and discuss the impact of supply and demand.
2. Explain and provide an example of credence.
3. What is the difference between B2B and B2C? Provide an example transaction for each.
4. What are the three main components of a positioning statement? Create a brief positioning statement.
5.What are the three phases of the purchase process? What is a business focused on for each phase? What is the customer focused on for each phase?
6. Define the Four "P"s of marketing and write a 5 to 7 sentence paragraph defining each "P". Elaborate on the marketing managers knowledge of the impact of each "P". Identify how that "P" impacts breakfast cereal.
7.Explain how a market can be segmented. What are types of segments that a marketing manager could segment a market? Provide an example of segmenting a market for a pet product or service.
8.What are the 5Cs of Marketing? Describe each in detail.
9. Identify the steps of the product development life cycle. Think of a common pet product (or create a new one) and in a brief scenario, walk it through the product development lifecycle. Explain each step and describe in a few sentences what happens to the product in that particular step.
10. Identify and describe the 4 main components of a competitor analysis.To show your understanding, select a local ice cream shop and develop a competitor analysis for them.