Part 1
1. Market Research
Name the six steps in the marketing research process as discussed in the Kotler text.
Why is it important to include all of these steps in the research process?
Why is the first step the most important?
2. Strategic Marketing Planning
Why is it important for a company to have a well written mission statement?
What key points do you think need to be included in the mission statement?
Should a mission statement also be a marketing tool?
Part 2
1. Consumer Buying Behavior
What are some of the factors that influence consumers' buying behavior?
Have the purchasing habits of your parents and/or grandparents influenced your buying behavior?
If you were to open your refrigerator and cupboards and compare the contents with those of your parents, would you find some brands in common?
2. Target Market Selection
What are some of the challenges faced by marketers as they attempt to define their target markets?
How necessary is it to fine-tune your Marketing Plan so that your target market is clearly defined and measurable? Why is extensive research necessary?
Part 3
1. Branding
Procter & Gamble (P&G) perhaps epitomizes the ability to create highly successful brands and marketing efforts. Read the Breakthrough Marketing case study about Procter & Gamble on page 239 in chapter 9 of your e-text.
Given our study through the first three weeks, to what do you attribute P&G's success and its ability to continually grow its business? Were you to project into the future, what recommendations would you make to P&G marketing executives, especially as to where the company might be vulnerable?
2. Competitive Strategies
When developing a marketing plan, you can't stop with just identifying your competitors. You also need to clarify your position in the market compared to those competitors and outline an appropriate strategy for dealing with them.
Consider Coca-Cola and PepsiCo, two successful companies that compete with each other. Discuss some competitive strategies each company can adopt and some specific actions needed to support those strategies. Tie your comments to our Kotler textbook.
Part 4
1. Pricing Strategies
As part of the Marketing Mix, PRICE, P, is important to the marketer. Yet when we look at price, it is more than just a dollar figure. What does price represent to the consumer? What does price represent to the marketer?
2. Marketing of Services
How is the marketing of services different than the marketing of a product? What are the challenges of marketing a service? How is marketing shoes different from marketing shoe repair?
Part 5
1. Channels of Distribution
As part of the Marketing Mix, Place, or Channels of Distribution, is important to understand. What is the difference between Direct channels of distribution and Indirect channels of distribution?
It has been said that "channels of distribution may be the best opportunity for a sustained competitive advantage." Based on your Kotler text, would you agree or disagree? Why?
2. Retailing, Wholesaling, and Logistics
Describe Market Logistics. What are some of the steps necessary for market logistics planning? Please provide an example.