BUSN 319 Complete Course and Final Exam

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WEEK 1

Week 1 DQ 1

1.When you go for a job interview, is marketing taking place? Please discuss your reasons for answering yes or no.

2.Think about your day today. How many times were you in a position when you fulfilled the criteria for marketing to occur? What were you marketing?

3.What are the different kinds of things that can be exchanged in marketing? Give some examples.

Week 1 DQ 2

IBM: Using Strategy to Build a Better Planet. Read the case study on pages 46 and 47 in the text. Use the following questions as a guide to participate in the discussion.

1 – What is IBM’s Smarter Planet business strategy? How does this strategy relate to IBM’s mission and values?

2 – Discuss the strengths, weaknesses, opportunities, and threats associated with IBM’s Smarter Planet initiative.

3 – What are the relevant trends for IBM to consider for the next 3 to 5 years?

Week 1 Course Project

BUSN 319 Week 1 Course Project comprises:

You will select a topic for the Week 1 assignment, and thereafter, all related assignments (the draft in Week 4, the breakeven analysis in Week 5, and the final marketing plan in Week 7) MUST be on the same topic. You may not change your marketing plan topic without approval from your instructor. Your topic should be for a business, product, or service that you would like to start (no multilevel marketing structures, please). Because this is an applied project and not a research paper, please do not select a corporation such as Starbucks or Coca-Cola as your topic. You are to apply the course concepts to this project. If you are interested in coffee restaurants, for example, you may wish to select your own cappuccino bar as your topic and then use information from companies like Starbucks or Seattle’s Best Coffee for ideas and competitive research as you work on your project. If you have questions about your topic, don’t hesitate to post them in the Q & A Forum this week.
For Week 1, please write a two-page description of your company, product, or service. It should be a new business, product, or service. Discuss ownership and company structure. Describe the business, product, or service. Write your mission statement and include your marketing goals.

WEEK 2

Week 2 DQ 1

Groupon: Helping Consumers with Purchase Decisions. Read the Groupon case on pages 133–135 in the text. You may also watch the video at the publisher’s website if you choose. Use the following questions as a guide to participate in the discussion:

1 – How has an understanding of consumer behavior helped Groupon grow from 40 subscribers in Chicago in 2008 to 60 million subscribers in 40 countries today?

2 – What is the Groupon Promise? How does the Groupon Promise affect a consumer’s perceived risk and cognitive dissonance?

3 – Describe the five-stage purchase decision process for a typical Groupon user.

Week 2 DQ 2

1 – Visit the U.S. Census website. What information can you find on this site that will help you to estimate size of market for your marketing plan topic?

2 – By using the Internet to also research articles written by trade journals and industry experts, what other relevant information can you find about your industry to help you estimate your market size and market potential?

BUSN 319 Week 2 Quiz

1: (TCO 1) 3M inventor David Windorski’s challenge was to design new products for college students. The first step in solving this challenge was to

Question 2: (TCO 1) The American Red Cross created a series of advertisements encouraging viewers to donate blood. After viewing the advertisement, Amanda went to the local Red Cross office and donated a pint of blood. Afterwards, Amanda returned home feeling satisfied that she had performed a good deed. Was this a marketing exchange?

Question 3: (TCO 1) The first objective in marketing is to discover consumer

Question 4: (TCO 6) Kraft produces Lunchables, a prepackaged meal usually consisting of several crackers, small slices of meat, and small slices of cheese. Some versions contain Capri Sun drinks. Others are called Cracker Stackers and Fun Fuel. The box is bright yellow and the quantity of food contained within is small. The target market for Kraft Lunchables is most likely

Question 5: (TCO 6) The four Ps of the marketing mix are

Question 6: (TCO 1) _____ is the money left over after a business firm’s total expenses are subtracted from its total revenues.

Question 7: (TCO 1) Which of the following statements about strategy is most true?

Question 8: (TCO 1) The marketing department helps keep the organization focused on creating value both for it and for customers. This is accomplished by

Question 9: (TCO 1) Often used interchangeably with vision, a(n) _____ statement frequently has an inspirational theme.

Question 10: (TCO 1) The ratio of sales revenue of the firm to the total sales revenue of all firms in the industry, including the firm itself, is called

Question 11: (TCO 1) Step 2 in the planning phase of the strategic marketing process is

Question 12: (TCO 1) A recent Congressional initiative mandated that the U.S. Department of Transportation (USDOT) establish a national traffic information collection system. The marketing manager of a company that provided traffic reports for local radio stations would most likely incorporate this knowledge into its SWOT analysis as

Question 13: (TCO 1) There are no magic, one-size-fits-all guidelines for writing successful marketing and business plans. Nevertheless, all of the following generally apply, except

Question 14: (TCO 5) Which of the following statements about environmental scanning is true?

Question 15: (TCO 5) The social forces of the environment include the demographic characteristics of the population and its _____. Changes in these forces can have a dramatic impact on marketing strategy.

Question 16: (TCO 5) Generally, the U.S. population is becoming

Question 17: (TCO 6) The concern for obtaining the best quality, features, and performance of a product or service for a given price is called

Question 18: (TCO 5) In an inflationary economy, the cost to produce and buy products and services _____ as prices _____.

Question 19: (TCO 5) Medication sensors have been developed that can dispense medicines by circulating within the arteries of the body and sensing when the medication is needed. This is an example of how _____ help(s) to improve or replace existing products and companies.

Question 20: (TCO 5) _____ is the form of competition in which just a few companies control the majority of industry sales.

Question 21: (TCO 6) Which stage in the consumer purchase decision process suggests criteria to use for the purchase, yields brand names that might meet the criteria, and develops consumer value perceptions?

Question 22: (TCO 6) Putting a dollar value on what a satisfied, loyal, repeat customer spends on a firm’s products during a year or a lifetime reveals that

Question 23: (TCO 6) Organizational buyers can be divided into three different markets. They are

Question 24: (TCO 6) Which of the following statements accurately characterizes the organizational buying process?

Question 25: (TCO 6) Seven of the most commonly used organizational buying criteria are (1) price, (2) ability to meet the quality specifications required for the item, (3) _____, (4) technical capability, (5) warranties and claim policies in the event of poor performance, (6) past performance on previous contracts, and (7) production facilities and capacity.

WEEK 3

BUSN 319 Week 3 DQ 1

Buyology: How “Neuromarketing” Is Trying to Understand Consumers. Read the Marketing Matters box on page 201 in the text.

1 – Why is neuromarketing important to marketers?

2 – What do you think about neuromarketing?

3 – Are you concerned that marketers will invade your privacy by influencing what you buy?

BUSN 319 Week 3 DQ 1

“To Which Flock Do You Belong?” Read the Marketing Matters box on page 226 in the text. Go to www.mybestsegments.com and click the “You Are Where You Live” image. Then type in your ZIP code to find out what the most common segments are in your neighborhood.

1 – How can you use this information for your Course Project?

2 – What specific product or service organizations might be interested in targeting these segments?

3 – How could this information be used with social media?

WEEK 4

BUSN 319 Week 4 DQ 1

When a National Brand Doesn’t Work in an Unfamiliar Market. Read the Marketing Matters box on page 250 in the text.

1 – What went wrong for these new product examples?

2 – What are some of the marketing reasons that new products fail?

3 – What are some organizational reasons that new products fail?

BUSN 319 Week 4 DQ 2

Mary Kay, Inc.: Building a Brand in India. Read the Mary Kay case study on pages 290–293 in the text. You may also choose to visit the publisher’s website to view the video, but this is optional.

1 – What is a positioning statement?

2 – What information should be included in a written positioning statement for Mary Kay?

3 – Is Mary Kay a global brand? Why or why not?

Week 4 Course Project:

BUSN 319 Week 4 Course Project comprises:

At the end of Week 4, you will submit a substantial draft to your instructor for grading and feedback. Read Appendix A in the text. Be sure to download the Marketing Plan outline from Doc Sharing. It is recommended that you start work on your draft in Week 2 after your instructor has approved your topic. Use the Marketing Plan outline as a guide to the required content for your marketing plan. Complete as much as you are able in order to get a good start and an initial draft ready to submit at the end of Week 4.

WEEK 5

BUSN 319 Week 5 DQ 1

Energizer’s Lesson in Price Perception—Value Lies in the Eye of the Beholder. Read the Marketing Matters box on page 346 in the text.

1 – Why didn’t Energizer capture market share from Duracell when it priced its Advanced Formula brand the same as its standard AA battery?

2 – Consider the example of Energizer. How do you think that customers will perceive your course project product or service? How will you consider that in your pricing strategy?

3 – What are the circumstances in pricing a new product that might support skimming or penetration pricing?

BUSN 319 Week 5 DQ 2

Flexible Pricing—Is There Discrimination in Bargaining for a New Car? Read the Making Responsible Decisions box on page 355 in the text.

1 – Why would a seller choose a flexible price policy over a one price policy?

2 – Is price discrimination legal?

BUSN 319 Week 5 Course Project includes:

One of the most challenging decisions faced by marketers is setting the price for their products and services. In order to select the right price, you need to ensure that you’ll be able to cover your costs and meet customers’ needs at a price that they are willing to pay. You will need to perform a breakeven analysis to determine the best price. Chapters 13 and 14 outline six steps that organizations follow to set price. Follow these six steps (as listed on page 322 in the text) to set prices for your product or service and perform a breakeven analysis. Submit your price strategy/breakeven analysis via the Week 5 Dropbox for grading and feedback. Be sure to incorporate any feedback provided by your instructor into your final Week 7 Course Project.

WEEK 6

BUSN 319 Week 6 DQ 1

See Your Favorite Super Bowl Ads Again and Again! Read the Going Online exercise on page 462 in the text.

1 – Which ads are your favorites? What makes them good ads?

2 – Compare the ads from the same advertiser for different years. What changes do you notice?

3 – What message does your favorite ad convey?

BUSN 319 Week 6 DQ 2

What are some of your favorite social networks? Read the Marketing Matters box on page 501.

1 – Which is your favorite social network? Why?

2 – How is user-generated content presented by someone using Facebook?

3 – What are some ways that brand managers use Facebook to converse with a brand’s fans?

WEEK 7

BUSN 319 Week 7 DQ 1

Amazon: Delivering the Goods . . . Millions of Times a Day. Read the Amazon case on pages 400 and 401. You may watch the video at the publisher’s website if you choose.

1 – How do Amazon.com’s logistics and supply chain management activities help the company create value for its customers?

2 – What systems did Amazon develop to improve the flow of products from suppliers to Amazon distribution centers?

3 – What systems improved the flow of orders from the distribution centers to customers?

BUSN 319 Week 7 DQ 1

Be sure to view the four Ps interactive in this week’s lecture prior to entering this discussion.

Which option did you choose for Our Town Photography? What rationale did you use to select the option you chose?
What changes would you recommend to the marketing mix for the Our Town Photography Premier Portrait Service?
Comment on the following statement: There is a correct marketing mix for every product and/or service.

BUSN 319 Week 7 Course Project:

BUSN 319 Week 7 Course Project encompasses:

Your final marketing plan should be between 4,000 and 6,000 words and must follow all APA guidelines. In Week 1, you will submit a two-page description of your business, product, or service for instructor approval of your topic. In Week 4, you will submit a substantial draft of your marketing plan for instructor feedback. In Week 5, you will submit a breakeven analysis for your business, product, or service. Your completed marketing plan is due at the end of Week 7.

BUSN 319 Week 8 Final Exam

1. (TCO 4) Three commonly used methods of evaluating marketing programs are (Points : 5)

2. (TCO 1) Ideally in effective marketing planning, goals should be _____ in terms of what is to be accomplished and when. (Points : 5)

3. (TCO 3) Which marketing strategy focuses on a single market segment but adds additional product lines? (Points : 5)

4. (TCO 1) Based on relative competitive scope (broad target to narrow target) and source of competitive advantage (lower cost to differentiation), Porter’s four generic business strategies are differentiation, cost focus, cost leadership, and (Points : 5)

5. (TCO 2) Which of the following pieces of information is used in the implementation phase of the strategic marketing process? (Points : 5)

6. (TCO 6) Which of the following pieces of information is used in a SWOT analysis, the first step of the planning phase of the strategic marketing process? (Points : 5)

7. (TCO 3) The first decision in developing an advertising program is to (Points : 5)

8. (TCO 2) The proper blend of elements in the promotional mix depends on the type of product. The three specific characteristics to be considered are _____, risk, and ancillary services. (Points : 5)

9. (TCO 4) Reminding buyers of the product’s existence is the promotional objective during which stage of the product life cycle? (Points : 5)

10. (TCO 2) The _____ can be used to inform prospective buyers about the benefits of the product. (Points : 5)

11. (TCO 8) Which of the following statements about the terms used for marketing intermediaries is true? (Points : 5)

12. (TCO 7) Which of the following statements about the legal and regulatory aspect of pricing is true? (Points : 5)

13. (TCO 2) Pricing objectives may change depending on (Points : 5)

14. (TCO 3) The ratio of perceived benefits to _____ is called value. (Points : 5)

15. (TCO 6) Market segmentation involves aggregating prospective buyers into groups that will respond similarly to a marketing action and (Points : 5)

16. (TCO 5) The process of continually acquiring information on events occurring outside the organization to identify and interpret potential trends is called (Points : 5)

17. (TCO 1) The marketing department helps keep the organization focused on creating value both for it and for customers. This is accomplished by (Points : 5)

18. (TCO 1) Which of the following acts as a barrier to the development of relationship marketing? (Points : 5)

19. (TCO 1) Your neighbor is tired of conventional soft drinks and wants something different. Coincidentally, Cadbury Beverages Inc. has begun distributing Country Time lemonade through the supermarket at a price comparable to that of soft drinks. Which of the conditions needed for marketing to occur is described in this situation? (Points : 5)

20. (TCO 6) Kraft produces Lunchables, a prepackaged meal usually consisting of several crackers, small slices of meat, and small slices of cheese. Some versions contain Capri Sun drinks. Others are called Cracker Stackers and Fun Fuel. The box is bright yellow and the quantity of food contained within is small. The target market for Kraft Lunchables is most likely (Points : 5)

21. (TCO 3) Which element of the marketing mix is demonstrated when the Mars Company has a sale on M&M’s® brand candies? (Points : 5)

22. (TCO 5) The Lemon Tree is a high-fashion boutique selling top-of-the-line women’s clothing and accessories. The keys to its success include knowing the customers’ changing tastes and providing something different from other retailers. In addition, because of the high value of the merchandise, The Lemon Tree’s management is exploring the use of computerized inventory controls and sales order processing. From this description, one can infer that the environmental category of least importance to The Lemon Tree is (Points : 5)

23. (TCO 7) In 1998, F. Hoffman-LaRoche Ltd. and BASF AG, two international pharmaceutical companies, were ordered to pay $725 million in fines for plotting to raise and fix prices of vitamins used in virtually every home in the United States. This is an example of how _____ forces affect the marketing environment. (Points : 5)

24. (TCO 6) Mile High Frozen Foods is a distributor for McDonald’s. It also bakes the buns used by McDonald’s in several states. Mile High purchases flour, yeast, and sesame seeds, manufactures the buns, and then distributes them to the retail stores. Mile High Frozen Foods is operating in a(n) _____ market. (Points : 5)

25. (TCO 1) Several years ago, SwissAir made some unwise investments to pay for a planned expansion. As a result, the company had to make some cost-cutting moves that alienated its customers. Eventually the company declared bankruptcy, regrouped, and found itself able to resume business. Its board of directors recently announced that the company would like to resume flying. Before resuming flying, SwissAir needed to determine what percentage of its former customers it could expect to return to the airline. If not enough former customers were willing to use SwissAir again, the resumption of flights would not be profitable. The determination of the percentage of returning patrons that would be needed to resume operation is an example of a (Points : 5)

26. (TCO 3) When Marine Midland Bank sent market researchers with surveys door-to-door in the neighborhoods of its branch banks to ask people with savings accounts why they did not also have checking accounts and credit cards with Marine Midland, the researchers were gathering _____ data. (Points : 5)

27. (TCO 4) Sara Burns is the owner of a company called Spice and was looking for a new product to go with her company’s line of food condiments when a friend suggested combining spices with tea. In the _____ stage of the new-product process, the spices and tea mixtures were exposed to prospective consumers under realistic purchase conditions. (Points : 5)

28. (TCO 4) A few years ago, Who Wants to Be a Millionaire premiered as the first nighttime game show in several decades. The marketing for the show was intent on making television viewers aware of its existence and excited enough about the show that they would watch the first episode. Based on this description, in which stage of the product life cycle would this show be? (Points : 5)

29. (TCO 8) In an episode of the Andy Griffith television series, two local farmers were selling the produce they grew on their farms from the backs of their pickup trucks to local people who drove by on the road. The farmers selling their products without wholesalers or retailers were an example of a (Points : 5)

30. (TCO 2) Disney is using an integrated marketing communications program (IMC) to promote group travel to its theme parks, because (Points : 5)

31. (TCO 2) When a news story covers a terrible disaster and viewers are asked to send donations to the American Red Cross, the American Red Cross is receiving (Points : 5)

32. (TCO 8) For several years, advertisements for Arm & Hammer Baking Soda have prompted consumers to place an opened box of the product in the refrigerator to lessen food odor and to replace that box monthly. The same ads advise customers to pour the used box down their kitchen sinks to freshen drains. Arm & Hammer employed a _____ strategy in its attempt to sell more baking soda. (Points : 5)

33. (TCO 3) Imagine that you are creating a marketing plan for a company that will sell motor scooters . As you consider the marketing program, what types of strategy should you consider including in the plan? Propose one specific example of each type of strategy that you are considering, and present your rationale (reasoning) for your strategy selections. (Points : 30)

34. Discriminate between primary data and secondary data and their usefulness to business decision making, being sure to discuss the advantages and disadvantages of each. Your response should also identify the typical sources for primary and secondary data and what you would rely on most heavily in making your marketing decisions. (Points : 30)

35. (TCO 4) You are the product manager responsible for a horrible product failure, but in your wisdom, you are evaluating why the product failed. What factors would you consider in your evaluation? What actions could you have taken to prevent the failure? Does product innovation need a willingness to accept failure? (Points : 30)

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Tuesday, 1 November 2016

BUSN 319 Marketing All DQs Course Project Quiz & Final Exam Devry