1. What are the differences and similarities between goods and services? Please provide some examples.
2. Customer perceptions can determine demand for the product or service. Demand for a product can determine the price you can charge. It is all interrelated. You may have learned in an economics course the concepts of elastic and inelastic demand. This concept is based on customers' perceived value. Services are intangible, while goods are tangible, which require different marketing strategy.
3. Please list and discuss the many components of a promotional campaign. How is it different for international marketing? What activities need to be changed to adapt to the foreign target market?
4. Promotion is the communication line of marketing. It has been said that promotion accounts for 25% (same as distribution) of a product's price. So, adequate understanding of this function is crucial for maintaining any marketing strategy.