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Pages:
9 pages/β‰ˆ2475 words
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1 Source
Style:
APA
Subject:
Business & Marketing
Type:
Essay
Language:
English (U.S.)
Document:
MS Word
Date:
Total cost:
$ 38.88
Topic:

marketing mid term

Essay Instructions:
The midterm exam is based on the following short essay questions from the text Marketing Management by Kotler and Keller 2012. Chapters relating to the questions are indicated. Answers should be double-spaced and be at least a page and a half in length. Responses are due at Session # 6 1. Describe the various stages in the evolution of company orientations toward the marketplace. Why is it important to have a Holistic Marketing Concept Orientation? Chapter 1. 2. Explain the importance of planning in marketing and outline the components of the planning process. Ch. 2. 3. Describe the important factors in the marketing environment that companies need to monitor and plan for. Identify three important trends that will affect business. Explain why they are important and how they will affect business. Ch. 3. 4. Describe the six steps in the Marketing Research Process. Give an example of a company that failed to research the market thoroughly before launching a product, and had to remove it from the marketplace in response to lack of customer acceptance. Ch. 4. 5. Why is it important to attract and retain the right customers and cultivate strong customer relationships? What are the best strategies for establishing strong customer relationships? Give an example a company that excels in customer loyalty? What do they do? Ch. 5. 6. What are the major influences on consumer behavior? Describe them. What is the role of emotions in the Buying Decision Process / Five Stage Model? Ch. 6. 7. Describe the characteristics of business markets. How do they differ from consumer markets? What are some best practices in managing business-to-business relationships? Ch. 7.
Essay Sample Content Preview:
Short Essay Questions (Name) (University) (Course) (Tutor) (Date) Table of Contents  TOC \o "1-3" \h \z \u  HYPERLINK \l "_Toc363117959" Question 1: Orientation of the company to the marketplace  PAGEREF _Toc363117959 \h 3  HYPERLINK \l "_Toc363117960" Question 2: Significance of planning in marketing and the components of the planning process  PAGEREF _Toc363117960 \h 4  HYPERLINK \l "_Toc363117961" Question 3: Factors and trends of the marketing environment that affect business  PAGEREF _Toc363117961 \h 5  HYPERLINK \l "_Toc363117962" Question 4: The market research process  PAGEREF _Toc363117962 \h 7  HYPERLINK \l "_Toc363117963" Question 5: Customer relationships  PAGEREF _Toc363117963 \h 8  HYPERLINK \l "_Toc363117964" Question 6: Consumer behavior  PAGEREF _Toc363117964 \h 9  HYPERLINK \l "_Toc363117965" Question 7: Business and consumer markets  PAGEREF _Toc363117965 \h 10  HYPERLINK \l "_Toc363117966" References  PAGEREF _Toc363117966 \h 12  Question 1: Orientation of the company to the marketplace According to Kotler and Keller (2012), orientation of a firm to the existing market takes place in several stages. To begin with, the company has to embrace the production concept to ensure that goods and services offered to the consumers are inexpensive and widely available. To achieve this, an organization first adopts a production oriented business structure by implementing production processes that have high efficiency levels, lower production costs and which create conditions necessary for mass distribution of its products. Secondly, a company has to be product oriented. This ensures manufacture of products with innovative features and quality performance, thereby making them more attractive to the consumers. Thirdly, the company has to shift its attention to the selling concept. Consequently, aggressive product promotion and selling efforts are undertaken to advertise a good or ser...
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