1. Identify and explain the five stages of the consumer buying process. Give examples of marketing activities designed to influence each stage.

2. Although the stages of the consumer buying process are typically discussed in a linear fashion, consumers do not always follow the stages in sequence. Explain why this often occurs.

3. Explain the five different target marketing strategies and give examples of firms that use each one. Also, discuss how firms might approach the targeting of noncustomers.

4. Compare and contrast brand loyalty and brand equity, as well as how these concepts are related.

Must a brand possess high brand loyalty in order to possess high brand equity? Explain.

5. Explain the key differences between product differentiation and product positioning. Other than branding, what are other factors on which product differentiation can be based?

6. Why is the product life cycle an important consideration in selecting and developing a marketing strategy? What are the core differences among the PLC stages that force marketers to alter their marketing programs over time?

7. Explain the importance of corporate branding. How is it tied to product-related branding? Give examples of how a firm’s corporate brand is tied to its reputation and its success in the marketplace.

8. Discuss the benefits associated with offering a large portfolio of products. What are some of the key issues involved in managing the product portfolio?

9. Identify and discuss reasons why firms become so infatuated with pricing. Why is pricing given a great deal of attention?

10. In many (if not most) circumstances, cutting prices to increase sales volume is not a good idea.

Explain why this is so. What are some alternatives that are preferable to cutting prices?