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Marketing Management 522

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Top of Form 1. (TCO B) Your company has developed a new educational electronic game. Your target market is 4-6 year old children. What research methods would you use to test this product concept? Choose at least three methods that you believe will provide valuable information, and describe your research strategy. (Points : 25) | 2. (TCO C) Michael Porter proposed a tool, the value chain, for identifying ways to create more value. According to the value chain model, every company is a combination of activities that are performed to design, produce, market, deliver, and support their products. Identify the types of activities that would create value within the organization. How can an organization use this tool? What makes this an effective approach? (Points : 25) | 3. (TCO H) New products fail at a very high rate, often greater than 75%. Demonstrate a graduate-level response that communicates your in depth rationale for why so many products fail upon their introduction. Based on this, to what should marketers be sensitive when introducing a product that is new to the market? (Points : 25) | 4. (TCO D) An increasing number of companies are basing their prices on the customer's perceived value of the product or service. Explain the concept of perceived value pricing. What is the "key" to pricing in this manner? How might the marketer determine the price that the consumer might pay in exchange for that value that they receive? (Points : 25) | 5. (TCO F) Sales force compensation can be approached several different ways. Discuss sales force compensation, explaining each of the different ways compensation can be structured, and the advantages and limitations of each compensation approach (commission versus salary at a minimum) that you share. (Points : 25) | |

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