Each entry must be at least 200 words. No references or citations are necessary.
- Would there be any additional marketing effort necessary if a producer created a revolutionary new product and offered it exclusively on the Internet? Why, or why not? What do you think motivates people to buy items that are offered exclusively on the Internet?
- Describe some of the personal and psychological factors that may influence what consumers buy and when they buy it. Pick two of these factors that are particularly effective on you, and pick two that are ineffective in influencing your purchases. Explain why.
- What is the marketing mix? How does conducting a SWOT (strengths, weaknesses, opportunities, and threats) analysis help a firm to develop its strategic plan? Have you recently spotted strategic brand placement in television shows, movies, or stores? Do you think the promotion was well-targeted? Why, or why not?
- Consider the differences between targeted marketing and mass marketing and what led to the rise of each. Do you think one is more effective than the other? Why, or why not? Give an example of a target market that you are (or could be) a part of and why you think you are (or would be) targeted. What compels you to choose one brand over another?
- Choose one of your favorite brands, and respond to the following questions: What mental image does the brand evoke for you personally? What mental image do you think the brand should stimulate in the future? In what product classes is the brand competing today? Could this change in the future? Explain.
- Identify an example of each of the following terms: premium pricing, penetration pricing, economy pricing, psychological pricing, and promotional pricing. Describe a time when you decided against purchasing something that was priced the lowest. What factors went into your decision to pay the higher price? For what product would these factors not influence your purchase decision?
- Why do marketing professionals care about and participate in supply chain decisions? Do you think small business owners are at a disadvantage if they lack the marketing research resources that large companies have? Why, or why not?
- Identify an assignment in this course that had a positive impact on you or significantly changed your perception about marketing. How will you be able to apply the skills you learned from it to gain life and/or career success?
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