BSM 100 - Week 3 Reading

Take a product or service organization you are familiar with: List the key external environmental opportunities or threats that face the organization.   What do you think are the organization’s main strengths and weaknesses?   Suggest ways in which the organization might respond to external forces.   Recommend a possible marketing strategy that will ensure that the organization Matches its internal capabilities with external opportunities

does marketing create or satisfy needs?  Marketing has often been defined in terms of satisfying customers' needs and wants. Critics, however, maintain that marketing goes beyond that and creates needs and wants that did not exist before. They feel marketers encourage consumers to spend more money than they should on goods and services they do not really need. Take a position: Marketing shapes consumer needs and wants versus marketing merely reflects the needs and wants of customers.

Ethics Some marketers attempt to disguise themselves as market researchers who want to ask you questions when their real intent is to sell something to the con- sumer. What is the impact of this practice on legitimate researchers? What do you think might be done about this practice?

A marketing system should sense, serve, and satisfy consumer needs while also improving the quality of their lives. Marketers may take actions by understanding customer needs and organizational practices, therefore marketing is currently facing many criticisms. Some of them are justified, while others are not. Certain marketing practises according to social critics, harm individual, consumers, and society as a whole, how to formulate this situation?

A company’s marketing environment consists of actors and forces outside the company that affect marketing management’s ability to develop and keep successful transactions with its target customers. The environment today is changing very quickly, and it is difficult to predict what the future will bring. It is important therefor to monitor the market environment and, if necessary, change the marketing plan to meet new opportunities or threats. It is dangerous for the life of the company to ignore what is going on in the environment. (i). Identify the two main forces and explain how each affects companies marketing efforts to survive in business environment.

Does Marketing Create or Satisfy Needs? Marketing has often been defined in terms of satisfying customers' needs and wants. Critics, however, maintain that marketing goes beyond that and creates needs and wants that did not exist before. They feel marketers encourage consumers to spend more money than they should on goods and services they do not really need.

Think 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.

How can marketing research helps a firm's sustainability?

“Market Segmentation: Still the Bedrock of Commercial Success” (Source: https://www.marketingjournal.org/market-segmentation-still-the-bedrock-of-commercial-success-malcolm-mcdonald/)   In light of the phenomenal advancements in marketing technology, it is important to dispel some of the popular myths surrounding market segmentation and explain why needs-based segmentation is still the main route to commercial success.  The most common objective of modern com­mercial organizations is the sustainable creation of shareholder value. This can be achieved only by providing shareholders with a total return, from capital growth and dividend yield, that exceeds their risk-adjusted required rate of return for this particular investment. In today’s highly competitive environ­ment, the major sources of shareholder value creation are the intangible mar­keting assets of the business, such as brands, customer relationships and channels of distribution, the 70% of the company’s value that does not…

Respond to the following in a minimum of 175 words:  How can a company’s marketing organization ensure that it is able to identify newly emerging competitors in time to plan and execute an effective marketing strategy in response to these competitors? Provide an example.

please read Principles of Marketing e-text: Chapter 1: Available at: http://open.lib.umn.edu/principlesmarketing/ then post your response to the question below "Cite real live examples of the different marketing practices you have observed around you in your everyday life and explain what marketing principles you believe these practices illustrate, based on your reading of the text"  Base on the examples given, discuss the different ways companies undertake marketing“.

Give several examples of marketing metrics. how might a marketer use each metric to track progress of some important element of a marketing plan?

'Marketing research is carried out to define the probable market for particular product and to find out general market conditions and tendencies’. Appraise various functions of marketing research and state how these functions are relevant. Please provide justifications for your answer.

Marketing concepts and marketing managers article to support each of the marketing concept: 1Product profitablility models 2Strategies to engage shareholders in new product development 3Evaluate marketing mix alternatives 4Internal/External risks associated wiht new product development Provide a brief explanation of why each article was chosen and what specific advice it offers to the Marketing Managers Can you do this separately for each article as well as provide the full reference for the article thanks

The marketing research process has several very distinct and important stages that need to be followed. In your opinion, which is the most important? Justify your view on this.

What Is the Best Type of Marketing Research? Many market researchers have their favorite research approaches or techniques, although different researchers often have different preferences. Some researchers maintain that the only way to really learn about consumers or brands is through in-depth, qualitative research. Others contend that the only legitimate and defensible form of marketing research uses quantitative measures. Take a position: The best marketing research is quantitative in nature versus the best marketing research is qualitative in nature.

List and briefly explain two reasons why studying consumer behavior is relevant to effective marketing planning.  define consumer behavior; describe a market controlled information source;  list and describe two factors that may influence the level of consumer involvement.

Discuss the reasons why customer experience is getting more attention in marketing today and how marketers can use information from studying customer experience to make better marketing decisions. Also, what are some ways in which marketers can best study customer experience?

Choose any organization of your own choice and identify the products offered and what are the key components of the marketing environments that affects a firm’s marketing effort. Prepare the report.

1. 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.

Your firm, selling business products is now diversifying into consumer goods too and so entrusting you to do market research to identify potential of the consumer market. Enumerate the differences between Consumer & Business Marketing Research