Marketing and Segment Essay

* Customer demand: Rather than basing on history and forecast sale of its products, the company should pay more attention in analyzing some uncontrollable factors such as inflation, recession, and currency exchange rate which may affect customers’ buying behavior.

In order to investigate the problem statement, in section 2 the theories of cost-plus pricing and elasticity of demand will be defined and explained in depth. Additionally, section 2 contains the discussion about how each theory addresses the problem statement. Section 3 will contain the research conducted, specifically an overview of the information gained

Currently we are in the growth stage. In terms of public knowledge about us, we are still growing awareness as a food truck, but we have reached our capacity for operations as a food truck. We are now in need of a brick and mortar establishment to further grow, as this would allow us daily hours of operations, a greater food preparation space, and a place where our customers can sit and enjoy their meal.

D. an attempt to respond to predicted demand within the constraints set by product, process and location decisions

If international expansion appears feasible and profitable, what factors influence the choice of where to expand? This rests largely on analysis of the economic, political, cultural and even historic context of the relevant country. A business considering international expansion must investigate, for example, currency exchange rates and volatility; economic climate; political stability; shipping costs to, from and within the foreign region; labor laws and the employment market; and potential language barriers.

Standardized product: - there are so many products with several alternatives available in the market. Brand identity and cost are the most exposed to handling by customers.

It is worth noting that the automobile market is very competitive and the company cannot downplay this notion, if it wants to retain the current status or increased sales in the global market.

Provide an example of ‘sustainable’ marketing and justify your choice of organisation or brand with reference to their current marketing activities.

c) A profit-oriented organization must be involved d) Each party must have something of value to the other party Ch 2 Question 1 Which of the following is NOT part of the external marketing environment? a) Political b) Legal c) Product d) Socio-cultural Question 2 Car (automobile) designers world-wide began working on plans for a dual energy car when: a) They realized that such a vehicle was not only feasible, but inexpensive b) The legal tolerance for noxious emissions from automobiles began to be reduced c) Noise pollution regulations began to be passed that would outlaw the internal combustion engine d) Sweden passed a law that said all new vehicles had to have a provision for pedal-power Question 3 A firm has decided to alter its pricing and promotional strategies in response to slower than expected job growth and declining personal incomes. The firm is responding to

1. We may not know from a theoretical viewpoint what variables are relevant in affecting the demand for a particular product.

Chapter 1 Marketing Creating and Capturing Customer Value 1) According to the five-step model of the marketing process, the first step in marketing is ________. A) capturing value from customers to create profits and customer equity B) constructing an integrated marketing program that delivers superior value C) building profitable relationships and creating customer delight D) understanding the marketplace and customer needs and wants E) designing a customer-driven marketing strategy Answer D Difficulty Moderate Chapter LO 1 Course LO Discuss the fundamental concepts of marketing 2) ________ are defined as states of felt deprivation. A) Needs B) Ideas C) Demands D) Values E) Exchanges Answer A Difficulty Easy Chapter LO 2 Course

Marketing Marketing is about understanding the customer needs and making sure that the products fit the customer’s needs as well as finding ways to influence the customer’s behaviour. Aims and objectives An aim is a statement of purpose that outlines what the business wants to achieve, it is a general goal e.g. to gain profit. An objective is a statement of how the business will achieve their aims it contains specific numbers and dates, they are SMART.

The company's resources can help entrepreneurs market their products and develop the appropriate distribution channels that will be necessary to gain more market share. Given the company's access to different distribution networks there is no preference in geographic location for most cases.

Risk taking function faces the uncertainties that are involved in marketing. It involves damages to goods, stolen items, outdated items, and identifies when customer needs change. Finally, the market information function controls all the information needed to plan, carry out, and control these marketing activities.

We would try to attract the children with cartoon characters and distribution of free toys.