MARKETING: GOODS, SERVICES, EVENTS 11 HOMEWORK QUESTIONS
CHAPTER 1
1. Why does the text state that, “marketing is not advertising”, “marketing is not selling” and
“marketing is not merely common sense”? [5]
2. Define “marketing”. [5]
3.
4.
5.
6.
7.
8.
9.
10.
11.
12.
13.
14.
15.
16.
What two things must marketing seek? [5]
For marketing to occur four requirements are necessary. Identify them. [5]
What is a market? [6]
What is marketed? Differentiate between a good, service, idea and experience and provide
an example of each. [7]
What is “social marketing” and provide an example. [7]
Differentiate between the ultimate consumer and an organizational buyer. [7]
Differentiate between a consumer and a customer. Provide an example where they are
different and one where
they are the same. [8]
Differentiate between a consumer need and a consumer want. provide an example of
each. [10]
what is a target market? [11]
Identify the 4Ps of the marketing mix. [11]
what is meant by uncontrollable variables and what are they? [11]
What do CRM and CLV refer to and why are they seen as being important by marketers?
[16]
Differentiate between ethics and social responsibility [18/19]
What is the notion of the social responsibility concept? Provide an example [19]
CHAPTER 2
1. Differentiate between an organization and a business firm. [28]
2. What is profit and why is it seen as being a “reward”? [28]
3. What is meant by “strategy”? [29]
4. Businesses must have the following if they are to be successful: core values, mission and
organizational culture.
What does each refer to? [31/32]
5. What are goals/objectives and why should they follow the acronym SMART? [33]
6. What is the strategic marketing process and what are its three phases? [42]
7. What is a marketing plan and why is it so important to have one? [42]
8. What is a SWOT analysis? [43]
9. Review the SWOT analysis for Ben and Jerry’s Ice Cream on page 44 and do one for Tim
Horton’s.
CHAPTER 3
1. What is “environmental scanning” and why should businesses engage in it? [76]
2. Given Figure 3-2 on page 78 be aware of the trends in each environmental force area for
Canada.
3. Define social forces, demographics, baby boomers, Generation X, Generation Y, blended
family and ethnic marketing. [78-81]
4. What are “value consciousness” and “eco-consciousness” and how do they impact on
marketing? [83]
5. Differentiate between gross income, disposable income and discretionary income. [85]
6. How has technology most recently impacted on marketing? [86-88]
7. What is UGC and why is it so important to marketers? [88]
CHAPTER 4
1. What is meant by the “ethics of exchange”? Provide the various “rights” that consumers
should expect. [106]
2. What is meant by the “ethics of competition” and differentiate between economic
espionage and bribery. [106-107]
3. What is a “whistleblower”? [108]
4. Differentiate between the three concepts of social responsibility that face a company. [110111]
5. What is “cause marketing? Provide an example. [112]
6. What is meant by “sustainable development”? Why would a company want to engage in
such a practice? [112]
7. Read the Starbucks case study on page 117-119 and answer questions 1 and 2 on page
119.
CHAPTER 5
1. The purchase decision process has five distinct stages. Identify each stage and briefly
outline what happens in each. [122-124]
2. What is “cognitive dissonance”? Have you ever experienced it? [124]
3. What is mean by “motivation” in the buying decision? [127]
4. Differentiate between the following hierarchy of needs and provide an example of each:
physiological, safety, social, personal and self achievement. [128]
5. What is mean by “perception” and how does it differ from person to person? [129]
6. How do marketers deal with “perceived risk” of customers? [130-131]
7. What are the four variables central to behavioural learning for consumers? Provide an
example of each. [131]
8. What is “brand loyalty” and how is it used in the purchasing decision process? [131]
9. What is meant by psychographics? [133]
10. What is “opinion leadership” and how is it used by marketing? [134]
11. What does “word of mouth” refer to and why is it so important as a marketing tool? [134]
12. What is “buzz marketing” and “viral marketing”? Provide an example of each. [135]
13. What are reference groups and what is their importance in marketing? Differentiate
between membership group, aspiration group and dissociative group. [136]
14. What is meant by “family life cycle” and how do marketers target each phase? [136-137]
CHAPTER 8
1. Define “market research”. [202] Differentiate between “reliability” and “validity” as applied
to market research. [204]
2. Identify the four basic stages of market research. [204]
3. Differentiate between primary and secondary data and provide one advantage and one
disadvantage of each. [206]
4. What is a focus group? [207]
5. What is a survey and what are the various ways that it can be carried out? [209] Review
Figure 8-3 on page 210 for a comparison of the various methods.
6. Differentiate between an “open-ended” and a “closed-end” question. [210]
7. Review Figure 8-4 on page 211 to see the typical problems in wording survey questions.
Be aware of the types of
problems and examples of each.
8. What is a sample and why is it used by marketers? [217]
11. What is “data mining” and how is it used by marketers? [222]
CHAPTER 9
1. How did GM’s marketing vs. Ford’s marketing differ and what did it prove in the early part
of the 1900s? [230]
2. What are market segments and what are the two key characteristics defining a market
segment. [231]
3. What is product differentiation and how is it used by marketers? [231]
4. Differentiate between geographic, demographic, psychographic and behavioural
segmentation? [235-237]
Use Figure 9-4 on page 236 for info.
5. What is the 80/20 rule? How do marketers use this knowledge? [237]
6. What are the five criteria that are utilized in selecting the market segment you should
target? [240-241]
7. What is meant by “product positioning” and “product repositioning”? [243]
8. Differentiate between the two main approaches to positioning a new product in the market.
[243]
CHAPTER 10
1. Differentiate between product, product line and product mix. [254-255]
2. Differentiate between consumer goods and business goods. Use a tomato as an example
to show that it can be
both under differing circumstances. [255]
3. Differentiate between non-durable goods, durable goods and services and provide two
examples of each. [255]
4. Identify the four types of consumer goods and provide two examples of each. [256]
5. Identify the two types of business goods. [257]
6. What is meant by a “derived good”? [257]
7. What are the main reasons new products fail? [261-263]
8. Outline the various stages a firm should go through when introducing a new product. For
each stage provide a brief description of what happens. [264-273]
CHAPTER 11
1. What is meant by the product life cycle? [281]
2. Provide a brief description of each stage of the product life cycle. [282-284]
3. Differentiate between a “skimming strategy” and a “penetrating price strategy”. [282]
4. Differentiate between “deletion” and “harvesting” strategies. [284]
5. Differentiate between the shape of the product life cycle for a “high-learning” product vs.
that of a “low-learning”
product. [284]
6. What is meant by “product modification” and what role does it play in the life cycle of a
product? [287]
7. What do you think “rebirth” refers to in the product life cycle? [not in text, think about it]
8. Differentiate about branding, brand name, trade name and trademark. Provide examples of
each. [290-291]
9. What is meant by “brand personality”? Provide two examples. [291]
10. What is meant by “brand equity” and how can it be created? [291-292]
11. What is “brand licensing” and how can brand equity help? Provide two examples. [294]
12. What are the five criteria that should be considered when selecting a good brand name?
[294-297]
13. Outline what each one of the following branding strategies refers to and provide an
example of each:
multiproduct branding, multibranding, co-branding, private branding and mixed branding
[295-298]
14. What is a warranty and why is it important to both consumers and producers? [302]
CHAPTER 12
1. Define “services” and provide the four unique elements that set them apart from tangible
goods. [309]
2. Provide a brief description of the 4Is of service. [310-311]
3. What is meant by “gap analysis” in the post-purchase evaluation phase of a service? [315316]
CHAPTER 13
1. What is price and what are the steps in setting price? [332-334] See Figure 13-2 on page
334 for help.
2. Other than price, name three other factors in determining demand. [339]
3. Identify the four conditions that makes a “skimming” price an effective strategy. [343]
4. Identify the various conditions that favour a “penetration” pricing strategy. [343]
5. What is meant by “prestige pricing”? Provide an example. [344]
6. Provide an example of “price lining” and why would a company do this? [344]
7. Why do retailers engage in “odd-even pricing”? [345]
8. What is “bundle pricing” and why do companies engage in it? [345]
9. Cost-oriented approaches to pricing include: standard markup, cost-plus and experience
curve pricing. Differentiate
between each. [346]
10. Competition-oriented approaches to pricing include: customary, above, at or below market
price. What is meant by
each and why is each done? [347-348]
11. There are four kinds of discounts. Identify each one and provide a brief explanation of why
they are made. [352-353]
12. What is meant by “horizontal price-fixing” and “predatory pricing” and why are these
practices illegal and against the
Canadian Competition Act? [354-355]
CHAPTER 14
1. What is meant by the “marketing channel”? [370]
2. What are the three basic functions performed by intermediaries? [370-372]
3. Differentiate between a “direct channel” and an “indirect channel”. Provide an example of
each. [373]
4. Differentiate between a “merchant wholesaler” and an “agent” and “broker”. [376-377]
5. What is meant by “inventory”? [394]
6. Why is the JIT concept so popular with both producers and retailers? [395]
CHAPTER 15
1. What does “retailing” refer to? [402]
2. Retailers are classified according to form of ownership, level of service and merchandise
line. For each way identify
the various subgroups and provide a one line description and example of each. [403-406]
3. Other than “brick and mortar” retailers provide four other types of retailing. [407-409]
CHAPTER 16
1. Define “advertising”. [431]
2. Differentiate between “push” and “pull” strategies by manufacturers. [439]
CHAPTER 17
1. Using Figure 17-3, outline the advantages and disadvantages of each of the various advertising
mediums. [464]