Marketing: An Introduction (13th Edition)
13th Edition
ISBN: 9780134149530
Author: Gary Armstrong, Philip Kotler
Publisher: PEARSON
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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?
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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?
In your own words, what is marketing? Write down your definition. Does your definition include such key concepts as customer value and 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…
Chapter 5 Solutions
Marketing: An Introduction (13th Edition)
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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
- 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.arrow_forwardWhat does marketing mean to you? How does it affect your daily life?arrow_forwardEnhancing 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_forward
- Being first to market can be an advantage and a disadvantage. Provide at least one reason for each.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_forwardSuppose 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_forward
- What 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_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_forwardGive 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_forward
- In two paragraphs answer the following with no plagiarism please. What do you think the impact of Amazon and online marketplaces have had on the growth of the Internet and how does it relate to the future of Marketing?arrow_forward1. Marketing involves, among others, "the delivery of value to consumers." However, the value a consumer places on a particular product or service is subjective. If you are a marketer, how can you increase your customer's assessment of your product/service. Use a product of your choice as an example.arrow_forwardPLEASE HELP ME CHOOSE!!! Choose your company, product, service or product line that you will be creating a marketing strategy for as well as a deep dive into the market/industry, financials, and marketing tactics that should be used.arrow_forward
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