EP MARKETING
7th Edition
ISBN: 9781260428223
Author: Grewal
Publisher: MCGRAW-HILL HIGHER EDUCATION
expand_more
expand_more
format_list_bulleted
Concept explainers
Videos
Textbook Question
Chapter 1, Problem 1MA
Do you know the difference between needs and wants? When companies that sell coffee develop their marketing strategy, do they concentrate on satisfying their customers needs or wants? What about a utility company, such as the local power company or a humanitarian agency, such as Doctors without Borders?
Expert Solution & Answer
Summary Introduction
To discuss: The difference between wants and needs and whether the needs and wants changes accordingly to the companies.
Explanation of Solution
Need refers to the necessity and essential item of an individual whereas wants refers to the item which enhances one’s lifestyle.
For example, food, shelter and clothing are the examples of needs and computer, branded clothing and luxury products are the examples of wants.
A company which sells coffee is considered as a want and not an essential item whereas utility company a local power company is an essential item as it provides electricity to satisfy the basic needs and not the wants.
A humanitarian agency like a doctors are satisfying the needs of the people like medicine and health care.
Want to see more full solutions like this?
Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!
Students have asked these similar questions
James Shoe Emporium, a retail brick and mortar shoe store caters to the higher income market in your country. However, the establishment has been experiencing falling revenue since the August 2024. The owner of the company believes that marketing and selling his shoes via the internet might be the solution. He has hired you to formulate an emarketing plan to do so.
You have decided to use the following e-marketing strategies (content marketing, email marketing, mobile marketing, online advertising and social media engagement). Why?
State how you would manage ethical and legal issues in the digital environment.
James Shoe Emporium, a retail brick and mortar shoe store caters to the higher income market in your country. However, the establishment has been experiencing falling revenue since the August 2024. The owner of the company believes that marketing and selling his shoes via the internet might be the solution. He has hired you to formulate an emarketing plan to do so.
Develop a background for James Shoe Emporium. Describe the following: location of the company – country and city/town, type of shoes sold and price, the target market.
State why the owner is considering using e-marketing. What benefits can e-marketing bring?
Imagine you have the sole marketing rights to a new herbal shampoo that you developed from local herbs and plants that are indigenous to your country. This shampoo can stop hair loss and promote hair growth for those who have suffered hair loss. You have branded it Nasure® Shampoo, and given your limited capital, you plan to sell your product exclusively over the Internet and support it by advertising and infomercials on late-night television. You have also planned some social media marketing, plus you are also hoping to obtain free publicity in men's fashion magazines. You plan to sell the product in a 400-gram bottle for $599 plus $9.99 shipping and handling. This price is considered premium to that of competing products, but you justify this based on the unique properties of the shampoo.
Beyond the activities that the company will utilize to promote the shampoo, briefly outline three other relevant and appropriate activities that the company can undertake to build support for the…
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, marketing and related others by exploring similar questions and additional content below.Similar questions
- Imagine you have the sole marketing rights to a new herbal shampoo that you developed from local herbs and plants that are indigenous to your country. This shampoo can stop hair loss and promote hair growth for those who have suffered hair loss. You have branded it Nasure® Shampoo, and given your limited capital, you plan to sell your product exclusively over the Internet and support it by advertising and infomercials on late-night television. You have also planned some social media marketing, plus you are also hoping to obtain free publicity in men's fashion magazines. You plan to sell the product in a 400-gram bottle for $599 plus $9.99 shipping and handling. This price is considered premium to that of competing products, but you justify this based on the unique properties of the shampoo. Recommend a secondary target market for the shampoo given its abilityarrow_forwardHgghhhhhhhhgghhhgarrow_forwardRespond to G.H. Good Evening Professor and Classmates, Hairitage Shampoo, founded by YouTube influencer Mindy McKnight, offers a range of hair care products that are vegan, cruelty-free, and formulated with natural ingredients. (Quinn, 2024) The brand's competitive advantage lies in its differentiation through personalized solutions for various hair types and its strong brand identity built by McKnight's YouTube channel, Cute Girls Hairstyles. To sustain this competitive advantage, Hairitage should continue to innovate its product line, maintain high product quality, and leverage Mindy McKnight's influence for marketing. (Hairitage Shampoo Good For Hair? Reviews, Ingredients And More!, 2024) Additionally, expanding its distribution channels and engaging with customers through social media can help reinforce brand loyalty. Barriers to entry for competitors include the high costs of product development and marketing, establishing a strong brand identity, and navigating regulatory…arrow_forward
- The product I chose and use daily is cetaphil. Cetaphil's scientific research, marketing, and customer-focused products give it a competitive edge in the skincare sector. However, some of Cetaphil's advantages can be copied by rivals, therefore in order to keep a competitive edge, Cetaphil could need to create exclusive resources. Strong brand recognition and customer loyalty developed over time, a reputation for gentle and effective skincare, established distribution channels, a diverse product range catering to different skin types, and the need to navigate stringent regulatory requirements within the cosmetics industry are some of the main obstacles facing competitors attempting to enter Cetaphil's market or gain a competitive advantage. In other words, breaking through the perception of Cetaphil as a dependable, trustworthy brand for sensitive skin could be a significant challenge for new entrants. Respond to this posts with what value is provided to customers from your…arrow_forwardUsing the information provided and Identify Converse as a brand, mention the products regularly used, and analyze their marketing strategy in a general sense. comprehend and examine the brand's use of social media, focusing on how this has been advantageous in achieving positive results and fostering user loyalty over time. Also, consider other communication channels and social media platforms besides Instagram that Converse employs to establish its market presence. Also, answering these questions How does the brand use social media for different promotions you have found? How does the brand attract customers What kind of customer service does the brand offer on it’s social media platforms? How could social media be used for research and sales purposes? How does the brands online presence function, and how can it be integrated with traditional marketing? demonstrate a deep and critical understanding of Converse's digital marketing strategy on social media, evaluating its…arrow_forwardDoes Doritos chips have a competitive advantage (e.g., cost, differentiation, etc.) compared to other chips brands? If not, what is your recommendation for it to attain a competitive advantage? Is the competitive advantage sustainable because of relevance or defensibility? How would your recommendation lead to a sustainable competitive advantage if you answered "no" to question one? What barriers does the competition face to entering the exact market or gaining a competitive advantage?arrow_forward
- Does Gatorade have a competitive advantage (e.g., cost, differentiation, etc.) compared to other sports drinks? If not, what is your recommendation for it to attain a competitive advantage? Is the competitive advantage sustainable because of relevance or defensibility? How would your recommendation lead to a sustainable competitive advantage if you answered "no" to question one? What barriers does the competition face to entering the exact market or gaining a competitive advantage?arrow_forwardWhat is the main role of Qualitative research methods? How does the Qualitative research methods work on virtual interviews with participants, or analysis of an individual, or organization? How does it relate to media to analyze patterns and themes?arrow_forwardMarketing Management Spring 25 Previous Activity Test Unit Test Active 1 2 3 4 56789 10 ► Hal joined an online panel for Wigg Software on the Internet. This means he will be asked some questions to see if he qualifies for a study be listed as an employee with the software company have the opportunity to talk with Wigg Software executives possibly be part of a discussion forum, too (Select all that apply.) Mark this and return Save and Exit Next Submit English Nariah Walker Next Activityarrow_forward
- Imagine you have the sole marketing rights to a new herbal shampoo that you developed from local herbs and plants that are indigenous to your country. This shampoo can stop hair loss and promote hair growth for those who have suffered hair loss. You have branded it Nasure® Shampoo, and given your limited capital, you plan to sell your product exclusively over the Internet and support it by advertising and infomercials on late-night television. You have also planned some social media marketing, plus you are also hoping to obtain free publicity in men's fashion magazines. You plan to sell the product in a 400-gram bottle for $599 plus $9.99 shipping and handling. This price is considered premium to that of competing products, but you justify this based on the unique properties of the shampoo. Identity the primary target market for your shampoo and provide your justification.arrow_forwardSales promotion techniques used in some countries are not allowed in other countries. What influence might this have on a sales promotion agency wishing to expand operations from one country to a number of other countries. Criteria Description Guide Objectives Collector devices Multi Sales promotion techniques What collector devices are permitted as sales promotions vehicles in many European countries (eg) What are the difficulties of using sales promotions across national boundaries Examples of recent sales promotions campaignsarrow_forwardSales promotion techniques used in some countries are not allowed in other countries. What influence might this have on a sales promotion agency wishing to expand operations from one country to a number of other countries. Criteria Description Guide Assumptions Economies of scale What they should consider to expand into countries which are not neighbors’ with similar codes of practice. What would give the agency economies of scales with its sales promotion campaign. What could assist in the integration and harmonization of sales promotions techniques.arrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
MarketingMarketingISBN:9780357033791Author:Pride, William MPublisher:South Western Educational Publishing
Foundations of Business (MindTap Course List)MarketingISBN:9781337386920Author:William M. Pride, Robert J. Hughes, Jack R. KapoorPublisher:Cengage Learning
Foundations of Business - Standalone book (MindTa...MarketingISBN:9781285193946Author:William M. Pride, Robert J. Hughes, Jack R. KapoorPublisher:Cengage Learning
Contemporary MarketingMarketingISBN:9780357033777Author:Louis E. Boone, David L. KurtzPublisher:Cengage Learning
Marketing
Marketing
ISBN:9780357033791
Author:Pride, William M
Publisher:South Western Educational Publishing
Foundations of Business (MindTap Course List)
Marketing
ISBN:9781337386920
Author:William M. Pride, Robert J. Hughes, Jack R. Kapoor
Publisher:Cengage Learning
Foundations of Business - Standalone book (MindTa...
Marketing
ISBN:9781285193946
Author:William M. Pride, Robert J. Hughes, Jack R. Kapoor
Publisher:Cengage Learning
Contemporary Marketing
Marketing
ISBN:9780357033777
Author:Louis E. Boone, David L. Kurtz
Publisher:Cengage Learning
How to Create a Marketing Plan | Step-by-Step Guide; Author: Visme;https://www.youtube.com/watch?v=4ti_uK60nLk;License: Standard YouTube License, CC-BY
My Marketing Plan Process - 6 Steps to Marketing Any Business (Products or Services); Author: Neil Patel;https://www.youtube.com/watch?v=qn_Po40ZI2E;License: Standard YouTube License, CC-BY