Harold Zarate Diaz
AMM101.0050
Hw #27-28
4/30/08
Professor B. Smith
1. Summary just 1 main idea of THE Inside Business Article What’s Cool who say so?
In this article they talk about what teenagers think is so cool, and the answer for this
is that the teenagers are influenced by the media. They are tuned in to MTV and
Hollywood and follow celebrities and other trend setters rather than setting the
trends.
2. Do review questions: 1,4,5,7, and 13
1. How specifically, does marketing create place, time, and possession utility?
Marketing efforts are directed toward providing costumers satisfaction. They
created place utility by making a product available at a location where customers
wish to purchase it. Time utility is by making a product available when
customers wish to purchase it and finally Possession utility is by transferring title
of a product to a buyer. Place, time and possession utility are only the most
fundamental applications of marketing activities.
4. What are the major requirements for a group of individual and organizations to be a
market? How does a consumer market differ from a business to business market?
A market is a group of individuals or organizations or both that need products in a
given category and that have the ability and the authority to purchase such products.
Markets are broadly classified as consumers or business to business markets, these
classifications are based on the characteristics of the individuals and organizations within
each market.
5. What are the major components of a marketing strategy?
The major components of a marketing strategy are a plan that is enable an
organization to make the best use of its resources and advantages to meet the
objectives.
13. Why do markets need to understand buying behavior?
Markets need to understand buying behavior because marketing efforts vary
depending on the intended market, marketers should understand the general
characteristics of these two groups.
Discussion Question:
3. How might adoption of the marketing concept benefit a firm? How might it benefit
the firms customers?
Adoption of the marketing concept are benefit to a firm, because is going to get more
customers to buy or see the website of the seller. It is benefit to a firm customers because
is more faster and convenient.