Premium Essay

Mkc1

In: Business and Management

Submitted By mifo1966
Words 1435
Pages 6
MKC1
Fundamentals of Marketing and Business Communication How does cultural diversity affect marketing? | By requiring tailored marketing strategies | What element should marketing managers consider when scanning the competitive environment? | Supply chain management | A group of producers of a particular product decided to all raise prices together and they were accused of overcharging consumers.Which federal law would have allowed the United States government to investigate this unfair method of competition? | Sherman Antitrust Act | Which strategy will be best for the marketer to advocate while faced with a deflationary economic environment? | Seek a long-term contract guaranteeing the sale price of its product. | A marketer believes its product has become obsolete for all markets. The marketer feels that a new technology may have created a substitute product and created new desires for their former consumers. What is their best marketing alternative? | Investigate the new technology for opportunities opening in a new industry | Marketers in a foreign country have been extremely successful in selling a particular product to a specific target market. They decided to enter the US market and continue their current sales and promotional tactics. What will likely be the outcome? | Targeting the same market in the U.S., they will find that the product does not fit existing cultural values and will not be purchased. | How will the group membership influence the individual's purchasing behavior? | The individual will make purchase decisions that comply with group norms. | A marketer found that its television promotions are no longer effective because consumers may no longer be watching the advertising commercials. Which influence may be changing consumers' behavior? | Attitude components | Which type of problem-solving process do consumers use when...

Similar Documents

Premium Essay

Wgu Mkc1 Ch 8 & 9 Place (Distribution) Study Questions

...Place (Distribution) Strategy: Chapter 8 Study Questions: 1. What is a marketing channel? System of marketing institutions that enhances the physical flow of goods and services, along with ownership title, from producer to consumer or business user. 2. What is the difference between vertical and horizontal conflicts? Horizontal-Results from disagreements among channel members at the same level, such as two competing discount stores. Vertical-Occurs among members at different levels of the channel. Example: Cable companies have recently reached an agreement with the electronics industry so that manufacturers can produce TVs and other electronic devices that will work, regardless of the cable provider. 3. What are the causes of horizontal and vertical channel conflict? Horizontal conflicts are typically caused by price wars Vertical conflicts are caused by disagreements over contracts and by certain channels trying to undercut other channel partners 4. What is a supply chain? It is a chain of companies that take part In putting a product on the market to include manufacturers of raw goods, shipping companies, marketers, & distributers 5. Describe each of the elements of the six components of physical distribution a) Customer service, Providing a service or product for a consumer that the consumer will find satisfaction in, This includes every contact the business has with the consumer (ordering,......

Words: 937 - Pages: 4

Premium Essay

Marketing

...MKC1 Marketing: the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large 4 components of marketing 1. Creating: the process of collaborating with suppliers and customers to create offerings that have value 2. Communicating: Broadly describing the offering and its value to potential customers as well as learning from customers 3. Delivering: getting those offerings to the consumer in a way that optimizes value 4. Exchanging: trading value for those offerings Marketing’s 4 P’s 1. Product: goods or services (creating offerings) 2. Promotion: communication 3. Place: getting the product to a point at which the customer can purchase it (delivering) 4. Price: The monetary amount charged for the product (exchange) Value: Total sum of benefits received that meet a buyers needs Personal value equation: The net benefit a consumer receives from a product less the price paid for it and the hassle of effort expanded to acquire it Value = benefits received – (price + hassle) Hassle: The time and effort the consumer puts into the shopping process Marketing concept: A philosophy underlying all that marketers do, driven by satisfying customer wants and needs Market oriented: The degree to which a company follows the marketing concept Supply chain: All of the organizations that participate in the......

Words: 923 - Pages: 4

Free Essay

Relaksasi Spa

...Relaksasi Spa ( JePun Pali Spa ) A Case Study Presented to The Faculty of Arts and Sciences San Beda College Mendiola, Manila In Partial Fulfilment Of the requirements in the subject Principles of Marketing (MKC1) Submitted to: Dr. Jenny Ramos Marketing Professor Submitted by: Conopio, Kevin John B. Erestain, Harris Nicko P. Ordinanza, John Paulo P. Sy, Ma. Frances Katerine G. 2AMC Company History: Relaksasi is the only spa in the country that has an Indonesian spa concept. It brings a unique kind of pampering to spa lovers using a combination of ancient and modern method of treatment that has redefined the current trend in the spalon industry in the Philippines. Relaksasi, which means relaxation in Indonesian, was conceptualized with one thing in mind: to introduce the spa concept in the malls. By including spa services within the Filipino’s favourite hangout, they now have within their reach an oasis where they hie off conveniently to fully relax and rejuvenate themselves. To complement this unique concept, Relaksasi adopted an Indonesian theme to break new grounds in the spa industry. By introducing spa lovers to the Indonesian way of relaxation, Relaksasi has brought to mainstream spa business the best-kept secret of the Asian country in healing and bringing an invigorating spa experience to customers. Relaksasi carried a complete line of skin and spa services: Body Scrub and Wrap Rituals, Body Massage and Scrub, Herbal Steam Bath,......

Words: 1315 - Pages: 6

Premium Essay

Marketing

...Sample Scenarios Assessment: MKC1 Market Environmental Variables Reading: Contemporary Marketing: Chapter 3 Questions: 1. How would you categorize Generation X using the five segments of the marketing environment? A: Competitive Environment B: Political-legal environment C: Economic environment D: Technological environment E: Social-cultural environment 2. Joe and Ryan both have storefronts in the local mall. Joe sells candies and Ryan sells pretzels. Are Joe and Ryan in direct competition with each other? A: Yes B: No Consumer Behavior and Marketing Reading: Contemporary Marketing: Chapter 5 Questions: 1. Rachel and Sarah’s parents always purchased groceries from the local Aldi marketplace. What is this type of behavior an example of? A: Cultural influences B: Social Influences C: Personal factors 2. Maryanne purchases Maxwell House coffee every two weeks from the grocery. What is this type of behavior an example of? A: Routinized Problem Solving B: Limited problem solving C: Extended problem solving 3. Aaron does research on several local colleges before applying to his first three choices. This is an example of: A: High – involvement purchase decision B: Low – involvement purchase decision Marketing Plans Reading: Contemporary Marketing: Chapter 2 + Ch. 2 Appendix Web sites: http://www.jpec.org/handouts/jpec33.pdf http://www.netmba.com/marketing/process/ Questions: 1. Strategies......

Words: 8933 - Pages: 36