Instructions: Select any 5 of the 7 questions below and answer them correctly.
1. One of the great new "marketplaces" of our time is eBay. Spend some time on the eBay website. Find a product that you are interested in and follow the bidding. How much would you be willing to pay? Consider the following questions. (Objective 2)
a. How is eBay providing value to its customers?
b. Describe the relationship they have with their customers.
c. What are their markets?
2. The marketing mix is the set of controllable, tactical marketing tools the firm blends to product the responses it wants from the target market. These marketing tools can all be collected into four sets of variables known as the "four Ps." Consider Southwest Airlines. Briefly describe the "four Ps" employed by Southwest.
3. Consider your college/university. What are the publics to which it must pay attention?
4. One source of competitive marketing intelligence is a company's Web site. Visit Apple's Web site to search for information that might be useful to competitors. Write a brief report of what you found.
5. Age and lifecycle changes have a dramatic impact on the many and type of products we purchase and consume. Go to Toyota's website and examine their complete product offering. How has Toyota tried to reach consumers of all ages and stages of the lifecycle?
6. Wal-Mart goes to great lengths to development suppliers. Imagine you are a small manufacturer of a new product and you want to sell to Wal-Mart. How would you accomplish this feat?
7. Review the requirements for effective market segmentation. Now, log on to Rhapsody. How are they attempting to segment their markets? Rate Rhapsody on each of the five requirements for effective segmentation. Do you believe they are doing a good job on each? What suggestions for improvement would you recommend?