Think of a place where you see both goods and services offered. For example, it could be a barber/hair salon that sells hair products and provides the service of cutting hair.Discuss the importance of providing both quality goods and reputable services to the overall success of the business model you choose. (Do not use a hair salon as the example in your response.)

Ans. Introduction Quality products help to keep up with customer fulfillment and reliability and…

Answered: Think of a place where you see both…

Principles Of Marketing

17th Edition

ISBN:9780134492513

Author:Kotler, Philip, Armstrong, Gary (gary M.)

Publisher:Kotler, Philip, Armstrong, Gary (gary M.)

Chapter1: Marketing: Creating Customer Value And Engagement

Section: Chapter Questions

Problem 1.1DQ

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You are the marketing director for a minor league baseball team, and (not unlike a certain major league baseball team in this city) you are interested in ways to increase attendance.You think that attendance is likely driven by several factors, including how competitive the team is, the weather, and certain price promotions which are offered periodically throughout the season (e.g., ‘Buck Night’, where all parking, hot dogs and soft drinks are only $1). Based on data from several prior seasons, you estimate the following regression model for attendance: attend= 1000 + 10,000 win% + 1500 sun + 1200 sun*promo where, attend = attendance in number or patronswin% = team’s winning percentage (a measure of how competitive they are)sun = 1 if the weather is sunny, 0 elsepromo = 1 if the game offered a price promotion, 0 else. a) Draw a graph of the relationship between attendance and the team’s winning percentage, for the case when there is a price promotion on a sunny night. Also, graph…
Finally, what strategies will you adopt at different stages of your product/service life cycle and how will you build a strong customer relationship to gain a high market share?
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You see an opportunity to start a business on a popular tourist beach. You decide to open a small shop nearby and sell items to tourists. Which combination of items makes the most sense to sell? Select one: a. Tents, coolers, hammers, plywood b. Sunscreen, swimsuits, disposable cameras, sunglasses c. Sandals, cement mix, rope, chairs d. Raincoat, fur coat, shovel, tables
Explain the concept of the "long-tail" business model and its application in e-commerce. How does it impact product selection and customer engagement?
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Explain and analyze why its whether good or bad to purchase a potato from a grocery store.
TRUE OR FALSE Convenience are consumer products and services that customers usually buy frequently, immediately, and with a minimum of comparison and buying effort. * Environmental scanning is an analysis and evaluation process that businesses use to understand their current environment. * A business opportunity is a thought, impression, or notion of a business venture that could fill the gap; that is, satisfy a perceived need or solve a perceived problem. * When carrying out your SWOT Analysis, be realistic and careless. * Designing Mind is willing to experiment, to try new ideas over and over again, and learn from mistakes. * An ’invention’ is accomplished only with the first commercial transaction involving the new product, process, system or device * Product is the need-satisfying offering of a firm * Innovation Is a key function in the entrepreneurial process. * SWOT…

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