Topic 1
The text argues that marketing possesses very few rules for choosing the appropriate marketing activities. Can you describe any universal rules of marketing that might be applied to most products, markets, customers and situations?
Choose a specific product that you use on a daily basis (such as food items, toiletries, or your car) and apply the 5W model in Exhibit 3.4 to yourself:
a. Who are you (demographics, psychographics, etc.)?
b. What do you do with the product (consumption, storage, disposal, etc.)?
c. Where do you purchase the product? Why?
d. When do you purchase the product? Why?
e. Why and how do you select the product?
f. Why do you not purchase competing products?
Assume your responses are similar to millions of other consumers. Given this profile, how would you approach the marketing strategy for this particular product?