TUTORIALS

MKT/421T Marketing


MKT/421T Week 1 Everything listed for Week 1 is Included in Purchase!! Practice: Ch. 1, Creating Customer Relationships and Value through Marketing Practice: Ch. 3, Scanning the Marketing Environment Practice: 4 P’s of Marketings Apply: Summative Assessment: Quiz Discussion Questions Discussion Question:: Price and Value - a customer's perspective People will almost always have a price point in their mind as to what a product should cost. They may be wrong, but they still have a price idea. If a product is not in the price range, the person may not buy the product because it is seen as too expensive or too cheap. I will use a fairly simple example to make the point.... Discussion Question:: Wants or Needs When discussing marketing, we often use the term "What the customer needs?" However, do they really need it, or is it a want? Does it make a difference? Thoughts? Discussion Question:: Environmental Scans Scans are very important for a company. They certainly don't want to get myopic in their thinking and outlook. There are lots of things that can impact a company, its products, and the market place. It is critical a company takes time, on some regular basis such as yearly, to step back and do an analysis the environment around it and its products. Discussion Question:: How do you Rank them? - the 4 P's? We are discussing the Marketing Mix of Product, Price, Place and Promotion. The question for the class is: How do you rank them from most important and downward? The four are very intertwined, and it is difficult to separate them. However, give it some thought and provide your response. Discussion Question:: What is the definition of Marketing? What is the definition of marketing? What are the benefits and drawbacks of incorporating marketing into the sales function of an organization? Do you think that marketing should be included as part of the sales organization within a company? Explain why or why not. Discussion Question:: Planning and Marketing Why is planning important in marketing? What are the essential components of a marketing plan? How would you convince your supervisor that the marketing department should produce formal marketing plans? Discussion Question:: SWOT Analysis Define a SWOT analysis. How and why is it used.


MKT/421 Week 2 Everything listed for Week 2 is Included in Purchase!! Practice: Ch. 8, Marketing Research: From Customer Insights to Actions Practice: Ch. 9, Market Segmentation, Targeting, and Positioning Practice: Market Research Process Video Case Apply: Summative Assessment: Carmex Case Discussion Questions Discussion Question: Customer needs - do they know what they want? If a company only considers what customers want, could they wind up lagging behind the market? On the flip side, what are the dangers of being too far in front of the market place? Think about that a moment before you respond. As an example - Where customers wanting the iPod, or did they just want a better Walkman? Discussion Question: The next big thing in online marketing What is the next big thing for technology and the internet to impact marketing? Let me know your thoughts on this question. I will post some of my thoughts in a couple of days. A note: I am not just talking about better of what exists, but something new. Discussion Question: Primary and Secondary Research There is a balance of primary and secondary research for any company. A lot can be gathered through secondary information. However, to get to some key information, the best source is probably primary. What are some positives and negative of each - primary and secondary research? Discussion Question: Demographics and Psychographics Please define demographics and psychographics. Then, Identify the demographics and psychographics of products by choosing one of these four product pairs: • Porsche automobile and Ford pickup trucks • Dial soap and Neutrogena soap • Southwest Airlines and American Airlines • Wal-Mart and Nordstrom Discuss and identify demographics and psychographics for the product pair you choose. Discussion Question: 4 P's of Marketing? Define the 4 P's of Marketing.


MKT/421 Week 3 Everything listed for Week 3 is Included in Purchase!! Practice: Ch. 10, Developing New Products and Services Practice: Ch. 11, Managing Successful Products, Services, and Brands Practice: Justin’s: Managing a Successful Product Video Case Apply: Product Development Simulation Discussion Questions Discussion Question: Marketing a product vs a service "I don't sell a product, I am a service provider!" How is marketing different for a service, as opposed to marketing a product? What are your thoughts? Discussion Question: How much customer service is enough? Below is a question that has to be something every company has to consider. When you respond to the question, think as a company and not a consumer. I think you will find the answer may not be an easy one. Think about it before you respond. How much customer service is enough? Discussion Question: Why new and improved for an existing product? Since we have the topic of Product Life cycle, I thought this would also be a good, related topic to have. What are your thoughts? Why come out with new and improved? Why not a new product? I look forward to your observations. This might tie into another conversation we are having this week. Hint! I will post some thoughts later this week. Discussion Question: Managing the brand "person" One way to avoid potential issues with the idea of branding with a person is to use a cartoon or animated character. The GEICO gecko is one we see often. Tony the Tiger for Frosted Flakes is another good example. We can probably add Mickey Mouse to this list as well. This is a created celebrity, and of course, not a real person. Therefore, you don't run into those problematic issues with people...


MKT/421T Week 4 Everything listed for Week 4 is Included in Purchase!! Practice: Ch. 13, Building the Price Foundation Practice: Ch. 15, Managing Marketing Channels and Supply Chains Practice: Final Price and Profit Evaluations Case Analysis Apply: Summative Assessment: Washburn Guitars: Pricing Decisions and Diversity Discussion Questions Discussion Question: Competitive Intelligence What is competitive intelligence? What is the importance of competitive intelligence and analysis in modern-day marketing? How can a company’s marketing organization ensure that it is able to identify newly emerging competitors in time to plan and execute an effective marketing strategy in response to these competitors? Discussion Question: Commercials and Target Markets A quick assignment that will be easy to do. Plus, it can help with participation!! Watch a TV commercial some time of the next couple of days. Then, in your response, answer these questions. What was the product in the TV commercial? What was the time of the day of the commercial? Who do you feel was the target market? (Everyone is not the correct answer. All other answers are valid!) Why did you choose that target market? Discussion Question: V-commerce I thought I would try a fun exercise for the class - hopefully. • What is the most unusual vending machine product offering you have seen? Discussion Question: Not all mobile sites are the same The headline probably doesn't surprise you, but let me explain what I mean. Essentially, not all mobile access are really designed for mobile capabilities. This is less of a problem now because of the demand for mobile apps. The range of mobile capabilities range from accessing a web site on your smart phone to total mobile capabilities...


MKT/421TWeek 5 Everything listed for Week 5 is Included in Purchase!! Practice: Ch. 19, Advertising, Sales Promotion, and Public Relations Practice: Fallon Worldwide: Creating a Competitive Advantage with Creativity Apply: Course Post Assessment Discussion Questions Discussion Question: Entering Foreign Markets What are some factors companies need to consider before attempting to enter foreign markets? A common adage is that if you want to start a business, think about something that interests you (you will need to have a passion) and look for gaps, something you think is missing. So for the fun of it: • What interests you? Why would you want to start a business in that area of interest? • What do you see as a gap that you can fill with your business? Discussion Question: Finding a gap or a niche market A common adage is that if you want to start a business, think about something that interests you (you will need to have a passion) and look for gaps, something you think is missing. So for the fun of it: • What interests you? Why would you want to start a business in that area of interest? • What do you see as a gap that you can fill with your business? Don't worry, I am not looking for a full analysis and business/marketing plan. Just an exercise to think about how product ideas come about.