IFSM 300 Quiz1 Part1

In an analyzation of the auto industry in the US using Porter's Five Forces (including the level of competition within the industry) riding a bicycle, taking public transportation and walking are examples of items that appear in which ONE of the five forces? Select one: a. Threat of Substitutes b. Bargaining Power of the Buyer c. Bargaining Power of the Supplier d. Threat of New Entrants

Read and analyze the following case:The sales manager complains that his sales reps are not meeting monthly sales quotas. He is convinced that the reps need more sales training to handle the situation and solve the problem. Therefore, he asks you to design a strategy to address this situation. Use the following guiding questions. Answer each of them in detail.Is there really a need for training? What will be the purpose or objective of the training?Who should be trained?Who will develop the training?What form will the training take?

What is “product value”? Describe the value does IKEA deliver to their customers?

Each part of the marketing plan is essential and valuable for marketers or managers developing a new product or creating a company. From a marketing point of view, the marketing plan contains much information regarding the company's activities, such as product, price, promotion, and distribution strategies. Thus, all marketing strategies are effective executions of the plan. What information do you think you need to include in a marketing plan as a product or price or promotion, or distribution strategy? Select one of the elements of the marketing mix and provide your explanation. Support your statements with business facts by using support materials. Cite any additional sources you use. Implementing the marketing mix

Marketing strategy decisions for a consumer product may be very different from the decisions for a business-to-business \\( p \\) True or False

Imagine a vending machine that would charge more for hot drinks—coffee, tea, and cocoa—during cold weather. What is your opinion of a temperature-sensitive vending machine? Consumers who live in colder climates might pay more over a longer time period each year than consumers who live in warmer climates. Would your opinion change if alternatives were nearby, such as a convenience store or a vending machine that is not temperature-sensitive? Do you think such a machine would be successful? Why or why not?

A marketing plan may be included as part of a larger business plan. A solid marketing strategy is the foundation of a well-written marketing plan that will allow goals to be met. While a marketing plan contains a list of actions, it is useless to a business without a solid strategic foundation. The marketing plan will assist in determining who the target market is, the best way to reach them, the price point at which the product or service should be sold, and how the company will measure its efforts. Construct a marketing plan for your organization using marketing model canvas.

You have an ice cream shop and you want to build your business.  You're ready to apply what you have learned about marketing strategy (4 P's) to build your business.  Select the link below to play the ice cream simulation.  In this simulation, you'll need to make several decisions that focus on the Four P's of the Marketing Mix.     In terms of the assigned reading for this unit, describe the marketing mix strategy you applied in your simulation (make sure you understand term marketing mix) Describe the segmentation criteria that you could use to more accurately identify the target market in the simulation. Discuss the promotions that you found either helpful or not that let to building your business. Please provide why promotions worked or did not.

A company has determined that October is the month when their sales are the highest. They are looking at providing discounts to increase their profits for the seasonal high-point. What other questions should drive this business decision?

Identity the contextual influence that you believe will pose the greatest challenge to companies' competitiveness and identify the contextual influence that will pose the least challenge to companies' competitiveness.

Consider the following firms and the salesperson incentive structure: a firm selling knives door to door at a set customer price; a firm selling jet engines to airlines at a negotiated price that is reviewed by many executives; and a firm selling cake mix to bakers and grocers where deals are made by individual salespeople. Which firm might find volume-based incentives most appropriate? Which firm might find revenue-based incentives most appropriate? Which firm might find profit-based incentives most appropriate? Is profit -based incentives always the most efficient? Why might a firm choose not to use them?

Discuss briefly the Hierarchy of the information- based business decision makers.Which level has the best chance of success and why? (Decision Making subject)

Stakeholders define roles and characteristics of groups or individuals participating in or affected by the business analysis activities. Explain the role of the business analyst in each knowledge area highlighted below in relation to the stakeholders' involvement. Knowledge area Knowledge area definition Business Analysis Planning and Monitoring Elicitation and Collaboration Requirements Life Cycle Management Strategy Analysis Requirements Analysis and Design Definition: Solution Evaluation

Conduct an analysis of the marketing processes/activities of /for Catherine's Peak Pure Spring Water (Located in Jamaica) You are required to do the following: Give a brief history of the company. This should include but is not limited to: the portfolio of products/services, the needs and wants to be filled by the selected product key players (competition) in the industry and the company’s overall position in the industry.

Review the seven Ps of services marketing. How would they change your strategy in the simulation? How do the challenges of executing the additional Ps of services marketing relate to your previous, current, or potential work experiences based on industry? Provide specific examples.

When you want to buy potato chips, what influences your decision? Explain the attributes that are important to you when making a decision to purchase this type of product.

Analyze the marketing activities of Amazon.com inc. This analysis should cover the major topics as discussed in the course.  The paper should focus on the strategic marketing decisions of a particular product or service (Amazon web service). Take the position of the marketing manager for the company’s product or service (Amazon web service). Should be at least three pages in length. Written analysis of product/service should include the following as appropriate (or as needed).        Market Environment Competition Industry trends Environmental threats and opportunities S.W.O.T (political, demographic, technological, cultural, legal, etc.)        The Market Segments served Target customer group Demand factors Behavior aspects of buying process

List four to six strategic factors that are often important in the make-vs.-buy decision.

True or False: Total Market demand can be expanded by less usage. Marketers can try to increase the amount, level, or frequency of consumption. They can sometimes boost the amount through packaging or product redesign.   A responsive marketer finds a stated need and fills it. An anticipative marketer looks ahead to needs customers may have in the near future. A creative marketer discovers solutions customers did not ask for but to which they enthusiastically respond.   The market challenger can attack the market leader. This is a high-risk but potentially high-payoff strategy and makes good sense if the leader is not serving the market well.

-Purchase decisions in the corporate market differ in many ways from purchasing decisions made in the consumer market.A purchase in the corporate market is often carried out as a process consisting of several steps, which involves severaldifferent individuals who must jointly come to a decision. The course book describes how the individuals who are part ofa decision-making unit assumes different roles during the buying process: initiator,users, influencers, decision makers, buyers, gatekeepers (Initiators, Users, Influencers, Deciders, Buyers,Gatekeepers). Which statement below does NOT agree with a decision-making entity?choose an alternativeA) The selling company should try to identify the different individuals in a decision making unit and adapttheir message to them and their specific needs.B) The same individual always takes on the same role in a decision-making unit, regardless of the type of purchasing decision.C) It can be difficult for a selling company to identify all the…

I need some help with my discussion questions this week   Topic One - In the book, the NFL is used as an example for industry-wide advertising. Discuss some possible methods of cost-sharing for the 32 NFL teams, and some of the pros and cons of each. Topic Two - Suppose you are the manager of a large automobile dealership that sells a few different major brands of cars. Consider the following scenario and use marginal analysis to determine how to deal with challenges.    There is now information available on the internet about how to make a counterfeit “smart key” that will unlock doors of the cars you have in stock in your parking lots. What should happen to the amount of security you have to prevent auto theft? How might you respond? Explain.

When a firm considers its overall objectives and considers the type of business it is in, it is engaged in which of the following steps of the marketing planning process?       defining the mission     conducting a situation analysis     identifying and evaluating opportunities     implementing the marketing mix     evaluating performance

Procter & Gamble (P&G) Procter & Gamble (P&G) is the world’s largest consumer products company. Some of its category-defining brands include Ivory soap, Tide detergent, Crest toothpaste, and Pampers diapers. Among its many offerings, P&G has more than 20 consumer brands in its lineup that achieve over 66.8 billion dollars or three (3) trillion pesos in 2018. P&G’s iconic brands are a result of a clearly formulated and effectively implemented company strategy. The company pursues a strategy which attempts to create higher perceived value for its customers than its competitors by delivering products with unique features and attributes. Creating higher perceived value generally goes along with higher product costs due to greater innovation efforts and promotion expenses, among other things. Successful differentiators are able to command a premium price for their products, but they must also control their costs. In addition, the company was able to achieve its…

Procter & Gamble (P&G)Procter & Gamble (P&G) is the world’s largest consumer products company. Some of its category-defining brands include Ivory soap, Tide detergent, Crest toothpaste, and Pampers diapers. Among its many offerings, P&G has more than 20 consumer brands in its lineup that achieve over 66.8 billion dollars or three (3) trillion pesos in 2018. P&G’s iconic brands are a result of a clearly formulated and effectivelyimplemented company strategy. The company pursues a strategy which attempts to create higher perceived value for its customers than its competitors by delivering products with unique features and attributes. Creating higher perceived value generally goes along with higher product costs due to greater innovation efforts and promotion expenses, among other things. Successful differentiators are able to command a premium price for their products, but they must also control their costs. In addition, the company was able to achieve its market…