Marketing: An Introduction (13th Edition)
13th Edition
ISBN: 9780134149530
Author: Gary Armstrong, Philip Kotler
Publisher: PEARSON
expand_more
expand_more
format_list_bulleted
Concept explainers
Videos
Textbook Question
Chapter 5, Problem 1BLC
Pick a company or brand that we've discussed in a previous chapter- Nike, Starbucks, Netflix, Apple, Jet Blue, or another. How does the company you chose use its understanding of customers and their buying behavior to build better customer relationships?
Expert Solution & Answer
Want to see the full answer?
Check out a sample textbook solution
Students have asked these similar questions
Pick a company or brand that we’ve discussed in a previous chapter—Amazon.com, McDonald’s, Nike, Microsoft, Pepsi, or another. How does the company you chose use its understanding of customers and their buying behavior to build better customer relationships?
We are all consumers. To be effective marketers, we sometimes need to think like consumers. That is why we do so much research into our customer segments; to ask those important questions “why do you like us.”
Now, think of your favorite product/service or brands. Think about why they are your favorite brands. What are the reasons why they provide you so much value? Now, start to think about your definitions of value? What do you think are the most important?
For your reflection assignment, select a product (or service) or your favorite brand.
From a consumer perspective, list the five most important aspects/characteristics/attributes that make it your favorite/preference.
Knowing those, become a marketer of your favorite product/service/brand, what are the five important things you can do to continue providing “value” to your customer base?
After you list them, compare them. Provide a short analysis of your findings. Are they reasonable to achieve? Are they costly to…
Assume that you are working in the marketing department of a major manufacturer of athletic shoes. Your firm is introducing a new product, a line of disposable sports clothing. That’s right—wear it once and toss it! You wonder if it would be better to market the line of clothing with a new brand name or use the family brand name that has already gained popularity with your existing products. Make a list of the advantages and disadvantages of each strategy. Develop your recommendation.
Chapter 5 Solutions
Marketing: An Introduction (13th Edition)
Additional Business Textbook Solutions
Find more solutions based on key concepts
To what does the lifetime value of the customer refer, and how is it calculated?
Marketing: Real People, Real Choices (9th Edition)
1-1. Define marketing and outline the steps in the marketing process. (AASCB: Communication)
Marketing: An Introduction (12th Edition)
What is an action plan? Why are action plans such an important part of market planning? Why is it so important ...
MARKETING:REAL PEOPLE,REAL CHOICES
Why have P&G’s competitors not been able to duplicate its customer relationship strategy?
Principles Of Marketing
The cost of debt, equity and the weighted average capital cost are the financial leverages of the firm. The opt...
Principles of Managerial Finance (14th Edition) (Pearson Series in Finance)
Identify several causes of a favorable material quantity variance.
Principles of Accounting Volume 2
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, marketing and related others by exploring similar questions and additional content below.Similar questions
- Enhancing and optimizing customer retention and loyalty is an important part of any marketing plan. Explain why this is the case, and give two examples of businesses that use this strategy?arrow_forwardPlease give me an idea and not intended to copy. Choose two companies from smart, Goldilocks, chowking and jollibee of your preference and answer ths question: As a consumer, what are the different factors that will make you buy their products or services?arrow_forwardConsider are recent purchase you made online. It could be anything from technology products, household items, clothing, or even a service for entertainment. Be sure to describe the item you purchased and answer each of these questions in the buying process stages: Problem Recognition What was the rationale for needing or wanting the product? Information Search What information did you research on the products? How many different product options and competitors did you research? Evaluation of Alternatives How did you find the website to buy your purchase and what site did you purchase from? Purchase Decision How was the product promoted online and what information was included? Did you read the reviews and was this a part of your decision-making process to buy the product? Post-Purchase Evaluation Did the online purchase solve the problem?arrow_forward
- Being first to market can be an advantage and a disadvantage. Provide at least one reason for each.arrow_forwardImagine you and your teammates are buyers for a firm such asApplebee’s, Dick’s Sporting Goods, Hilton Hotels, or anothercompany you like. Map out a logical buying process for a newtask purchase for your organization.arrow_forwardGive an example of a recent purchase experience in which you were dissatisfied because a firm’s marketing mix did not meet your expectations. Indicate how the purchase fell short of your expectations and also explain whether your expectations were formed based on the firm’s promotion or on something else. Will it affect how much you trust that firm or brand in the future?arrow_forward
- Suppose you are a marketing executive. How will you redefine selling concept, marketing concept, societal concept and justify your preference among these in case of conducting your business activities.arrow_forwardConduct research on power brands in the retail clothing sector. Select one retail clothing brand and provide evidence of how they effectively applied the brand trinity to achieve their current dominant position. Discuss your findings under the following headings: Science/their research orientation.arrow_forwardWhat is your experience as a customer or consumer regarding the three buying situations: straight rebuy, modified rebuy, and new buy? And how did the buying situation pertain to your experience as a customer or consumer?arrow_forward
- Give an examples of a recent purchase experience in which you were dissatisfied because a firm’s marketing mix did not meet your expectations. Indicate how the purchase fell short of your expectations- and also explain whether your expectations were formed based on the firm’s promotion or on something else. Will it affect how much you trust that firm or brand in the future?arrow_forwardThink of a specific product or service and then formulate a concrete marketing strategies that can gain valuable feedback and how to improve your product or service that will meet the needs of your target market. Discuss.arrow_forwardDefine the nature and scope of the questions you must answer with regard to your market. Identify the types of information you will need about the market to answer those questions. For example, do you need to know about the buying habits, household income levels, or attitudes of potential customers?arrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
How to Create a Marketing Plan | Step-by-Step Guide; Author: Visme;https://www.youtube.com/watch?v=4ti_uK60nLk;License: Standard YouTube License, CC-BY
My Marketing Plan Process - 6 Steps to Marketing Any Business (Products or Services); Author: Neil Patel;https://www.youtube.com/watch?v=qn_Po40ZI2E;License: Standard YouTube License, CC-BY