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.