To run a valid test marketing experiment regarding a possible purchase of the product, marketers need to answer which of the following questions? Group of answer choices a. what type of product adopters? b. how many cities will we need for the test market? c. is the product price reasonable in relation to the value? d. what needs will the product meet?

After a targeted segment of kids under twelve was chosen by a sugar cookie company, the company decided on its marketing mix to that segment. When deciding on a price strategy for its cookies, what questions should the company ask ?   a. where does your segment look for or shop for your product? b. What do you want your segment to remember about your product ? c. How much is  expensive or too cheap?

Give an example of a new product or service that is targeted at the college student market. Discuss whether it is a new-to-the-world product or other type of new product, and how technology push and market pull research activities may play an important role in development of this new product.

When the primary selection criteria a firm uses to decide whether or not to enter a new market segment centers around not having to develop a whole new set of products to meet the needs of that new segment, the firm would be referring to: Compatibility with the firms existing product A line. The ability of the new segment to afford its В product. The anticipated growth potential of the new segment The potential responsiveness of the the new D segment.

Answer questions  4,5,6 in relation to that product: Questions ( the product chosen cod liver oil)  (1)    Describe the product that you have chosen (2)    Comment on the information provided on the label (3)    How does the price of the product compare to the prices of the similar products in the category? (4)    Who (which target market) is the product targeted to? (5)    What consumer need does the product satisfy? (6)    What marketing activities are used to promote the product in the store and nationally?

List and briefly describe 4 variables from the external marketing environment. Provide a brief description of how each of the variable that you list may be able to influence marketing decisions. For example, if you include "technology" as one of your variables from the external marketing environment, you could describe the manufacturing of micro chips that are in many of the products that people use daily, i.e., the camera in your vehicle that shows you what is behind you when you back up uses a micro chip. Many chips are manufactured internationally. Recently, Congress supported legislation that enhances production of micro chips here in the United States. Accessibility to micro chips, enhanced product features, such as rear view alerts for drivers, also enhances product development and innovation. All of the example impacts several aspects of marketing. Then, in your answer, you would list at least two aspects of marketing that can be impacted based on the information in the…

In class, we discuss the first time someone purchases a product and we discussed a way to look at repeat purchases. (a) The first time someone purchases, they must become aware that a product/brand exists and come to understand why they might want to buy the product. Once they are interested in the product, for many products they will do research before they decide whether they will purchase. Name three ways they might do this research (places from which they would get information)? Name three issues which they will investigate in this reserach.   (b) When someone purchases in a product category (e.g. soap) again, what steps should a company take to increase the likelihood that their product will be purchased next time?

Describe the use of marketing research throughout the new product development process. What should be included in a business analysis for a new product?

Explain how marketing mix strategies should be used to manage a product in the market. Discuss the interaction of these variables in general and don’t forget to include the critical variable of place in your discussion. Hint:  this question involves chapter 8 in your text.

Which of the following is/are generally accepted as (a) bad reason(s) for product extensions? Select one: a. Flanking price points of the current products b. Competitive parity c. Customer preference heterogeneity d. Creating branded variants