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39
they have. The ____ and the _____ of the product are as important as its
specification.
4. What is ‘price’? The product must be priced so that it com-
petes effectively with _____ products in the same market.
5. What is ‘promotion’? The product is presented to customers
through advertising (TV commercials, _____, etc), packaging (design,
______, etc), publicity, P.R. and personal selling.
6. What is ‘place’? Your product must be available to customers
through the most cost-effective channels of ______. A consumer
product must be offered to ______ in suitable retail _____, or available
on ______ or by ______.
7. What is meant by ‘S.W.O.T.’? A firm should be aware of its
S______ and W_____ and the O______ and T_____ it faces in the
market place.
8. Why are firms becoming more customer-oriented and less
______? Because new products must be created to meet the changing
______ of customers’ needs and wants – a firm can’t rely on the success
of its existing ______ of products. The customer and his or her needs
must come _____!
40
DISCUSSION
To review the material covered, in small groups discuss the fol-
lowing topics:
1. What is marketing? How does it aid exchanges?
2. Name the functions of marketing. How does an organization
use marketing activities to achieve its objectives?
3. What is the marketing concept?
4. What is a marketing strategy? What is market segmentation?
Describe two approaches to segmentation.
5. List the variables in the marketing mix. How is each used in a
marketing strategy?
6. Briefly describe the factors that influence buying behavior.
7. Why are marketing research and information systems impor-
tant to an organization’s planning and development of strategy?
8. List the steps involved in the marketing research process.
9. Why is marketing gaining in importance today? What benefits
does it provide to consumers?
10. Discuss the impact of technological, political, and legal forces
on the market.
they have. The ____ and the _____ of the product are as important as its DISCUSSION specification. 4. What is ‘price’? The product must be priced so that it com- To review the material covered, in small groups discuss the fol- petes effectively with _____ products in the same market. lowing topics: 5. What is ‘promotion’? The product is presented to customers 1. What is marketing? How does it aid exchanges? through advertising (TV commercials, _____, etc), packaging (design, 2. Name the functions of marketing. How does an organization ______, etc), publicity, P.R. and personal selling. use marketing activities to achieve its objectives? 6. What is ‘place’? Your product must be available to customers 3. What is the marketing concept? through the most cost-effective channels of ______. A consumer 4. What is a marketing strategy? What is market segmentation? product must be offered to ______ in suitable retail _____, or available Describe two approaches to segmentation. on ______ or by ______. 5. List the variables in the marketing mix. How is each used in a 7. What is meant by ‘S.W.O.T.’? A firm should be aware of its marketing strategy? S______ and W_____ and the O______ and T_____ it faces in the 6. Briefly describe the factors that influence buying behavior. market place. 7. Why are marketing research and information systems impor- 8. Why are firms becoming more customer-oriented and less tant to an organization’s planning and development of strategy? ______? Because new products must be created to meet the changing 8. List the steps involved in the marketing research process. ______ of customers’ needs and wants – a firm can’t rely on the success 9. Why is marketing gaining in importance today? What benefits of its existing ______ of products. The customer and his or her needs does it provide to consumers? must come _____! 10. Discuss the impact of technological, political, and legal forces on the market. 39 40
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