MARKETING
7th Edition
ISBN: 9781260087710
Author: Grewal
Publisher: RENT MCG
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Chapter 11, Problem 6MA
Summary Introduction
To discuss: Whether person X is loyal to any brand beyond he likes the brand with reason.
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Consumers often rationalize their purchase of a new product with a statement such as "I bought it because it was on sale 15% off the original price." What ate the prospects that this type of customer will become a loyal consumer to this product? What must happen in order for such customers to become loyal to the product and hopefully the brand?
Identify a product important to you that you purchased where you felt that the seller had done a particularly good job of understanding your needs and helping you select and truly benefit from the purchase and use of the product. What were the aspects of design of the product and/or the whole product that you believed were at the heart of this very favorable experience?
A product that a potential buyer knows about but is not actually seeing is called an "unsought" product. Do you feel that the continued marketing of unsought products is unethical? Also, discuss how marketing ethics figure into decisions on branding, packaging and labeling of products.
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- There are three factors that add value to the brand as perceived by consumers. Conduct research on one retail clothing brand and give your assessment of how well it delivers added value in terms of all of the following: Risk reductionarrow_forwardAsk your parents about a product that they have been purchasing throughout the years and note the changes (e.g., price, packaging, etc.) it underwent. Will they still purchase this particular product despite possible price changes in the future? Why or why not?arrow_forwardDescribe the current competitive market for your product. Can you identify the number of brands or the market share that they hold? Expand your analysis to include other products that are similar or could be substituted for yours.arrow_forward
- When presenting your ideas to a potential buyer, what are some ways to stand out and have them choose your product.arrow_forwardSelect a product with which you are familiar (Please do not use any APPLE products). Based on your knowledge of the product lifecycle, what types of changes will occur to your selected product? How will this affect the marketing of your selected product?arrow_forwardWhat are the potential risks if the marketing mix is not considered?arrow_forward
- Pick a special offer that you have observed and analyse how it may impact consumer behaviour. What is the purpose of the deal from the producer’s perspective? Will consumers respond rationally to this deal? Ensure your answer is clear about the ideas from the course you are using. (Note: don't use chat bot).arrow_forwardWhat is your perceptions of value and how much you are willing to pay for the following products: automobiles, fast foods, jeans, and athletic shoes? Discuss some examples of brands of these products that are positioned to deliver different value to consumers ?arrow_forwardSelect a product you are familiar with. Do research about that product. Based on your knowledge of the product life cycle, what types of changes will occur to your selected product as it continues through the product life cycle? How will this affect the marketing of your selected product?arrow_forward
- How do switching costs impact the danger of a powerful buyer?arrow_forwardYou are a brand! To manage any brand effectively, you must carefully be in touch with what you think about your brand and what your consumers think of your brand. Understanding how the brand is perceived internally and externally is critical to building and managing a strong brand. Each student will develop and present their unique brand. The objective of this assignment is for you to practice using brand-building concepts in developing a brand that you should not only know extremely well but be well-versed enough to explain the brand, its features, values, challenges,and future growth – YOUarrow_forwardHow can Nestle can maintain their company on top in providing healthy products considering there are other competitors offering the same products at a cheaper price?arrow_forward
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