Problem
A. Other than discount stores, what other kinds of businesses tend to focus on price in their marketing mix? Explain why this is their focus.
B. Why do those who highlight place in the marketing mix need to consider the supply chain and other elements of product?
C. Explain the difference between a marketing mix and a promotional mix. Why is each important?
D. Why is participation such a key element of marketing? Give three examples of how a dry-cleaning business can create opportunities for participation.
E. Give an example of an advertisement that you have seen for a service and explain which of the 7Ps were emphasized. Next, explain how the strategy behind advertisements for products tend to be different and why.
F. Why is credit important to businesses? Give an example to illustrate your point. How would a business that did not have access to credit be limited? Provide an example for this as well.
G. Describe a situation where using credit would be wise and one in which the use of credit would be unwise. Explain the difference.
H. Imagine you own a business and want to extend credit to customers. What kinds of resources are available to you to validate their credit history? What factors other than credit might you consider?
I. A car dealership will help customers finance cars. What is the dealership legally obligated to tell customers about these loans? Why is this important information for consumers?
J. If a business decides that it is going to extend credit to customers, what will the business need to do to minimize the risk for itself and the customers? What happens if the business fails to take these steps?