Part A:

Describe customer perceived value, total customer benefit, and total customer cost. How do the total customer benefit and the total customer cost affect the consumer's perception?

What are some of the ways that a business can attract and retain customers?

What are the five stages in the buying decision process? Briefly describe each.

What is a niche market? What does an attractive niche market look like?

What is a market segment? What are some of the factors that may be used to narrow the market down into segments?

How would you describe a brand? What roles do brands play in the market?

What is brand equity? Provide an example.

Part B:

What are the advantages of qualitative measurements when doing marketing research? What are the disadvantages?

Your colleague has been tasked to do market research for your company. Management is complaining that sales have not been where the company would like them to be (the sales are about 8% behind the projected goal).

 The United States has been a "services" economy since the late 1980's, at which time our GNP was focused more on providing services than the manufacture of physical products. Marketers recognize that the marketing of services is different than the marketing of a product because of the different characteristics that...........

You are the marketing manager for Fujiwama Corporation, an electronics company (fictitious) that specializes in cellular telephones. Your company's share of the cell phone market is 3.1% and you are listed as the #9 cell phone. ..........What strategic direction might it take with its product lines? To what risks might Fujiwama expose itself were it to go all out to gain that #5 market share position?

You are the product manager for a new disposable infant diaper ("Baby High Dry") that absorbs better than any other diaper on the market. Normally, an infant's diaper must be changed eight (8) times in a 24-hour period.............(Remember that your channel members are in a position to promote your product. As you look at your pricing strategy, how does that strategy consider that which is important to your retailers?)

As the Marketing Manager for Cleanwipe Windshield Wipers, a manufacturer of replacement windshield wipers for automobiles and trucks, you are tasked with working with your channel members to help them promote........?

Part C:

Edward Smeets is the new sales manager for Grunwald Instrumentation. He has just come aboard to head up a sales force of seventy sales professionals, all of whom possess at least a B.S. in a scientific field. Many have Master's Degrees............What changes, if any, would you suggest that Smeets consider to the sales force structure to effect increased sales?

New products fail at a very high rate, often greater than 75%. Demonstrate a graduate-level response that communicates your indepth rationale that accounts for why so many products fail upon their introduction. Based on this,......?

You have just become the marketing manager for a new line of DVD players. Your Fixed Costs (FC) for running your plant are $1,300,000 a month. This includes salaries, insurance, rent, amortized capitalization of equipment, etc............How many DVD Players do you need to sell each month to "break even"?

The concept of a Marketing Audit is gaining acceptance within marketing circles, especially as a means to ensure that companies are seen as "above board" and "ethical" in their marketing practices. Were you tasked with creating,......?"

As the advertising manager, you have limited funds with which to advertise. A critical promotional campaign is about to get underway and you are looking to maximize your advertising's effectiveness..........Money is tight. In which magazine would you advertise? Using that which you learned in your course, defend your decision and share how you came to your conclusion.