Part A: Answer each of the following questions in a paragraph of 15-20 sentences.
1. Describe the major approaches to segmenting business to customer markets.
2. Explain the different circumstances under which marketers choose between informative, persuasive and reminder advertising.
3. Define the concept of price elasticity of demand, and list the factors that influence the degree of elasticity.
Part B: Answer each of the following items in two or three sentences. Each response is worth four points.
1. Why might a potential customer prefer to shop using the Internet channel, and what are marketer's opportunities in meeting the needs of this customer?
2. Describe a public relations marketing strategy that a firm may use to enhance brand awareness and/or the company's image.
3. Imagine that you've just been made the marketing manager for a university. Your first task is to assess the university's immediate environment. What questions should you ask?
4. Recently, the marketing manager for Midwest Steel Company raised prices by 12 percent. In response, one if the firm's salespeople noted that competitors had all raised their prices by 16 to 18 percent. What is MkIS? How could it help Midwest Steel?
5. Phil is a textbook company salesman about to call on the Philadelphia School District. He would like to know in advance whether the school district's buying center is autocratic or democratic. What is the difference between the two buying center cultures? How could this information be useful to Phil?
6. What might be the underlying reason for a reason for a person to buy a Cadillac instead of a Ford Escort?
7. What is the difference between a market penetration strategy and a market development strategy? How might a company implement each strategy?
8. A small manufacturer was once quoted as saying, "The best day and the worst day of my business life was the day we got a contract from Wal-Mart." What type of vertical supply chain is the manufacturer entering? Why would the manufacturer say this?
9.Why do manufacturers like Proctor & Gamble spend millions of dollars annually creating and maintaining their brands? Why don't they just manufacture their products and sell them under store brand labels?
10. Garden Gate is a one location nursery business that sells plants and flowers for home gardeners. The new owners want to grow through wither a product development of diversification strategy. What will the owners likely do if they pursue either strategy?