Application Exercises
Assignment 1 Requirements
For Q&P # 1, the list of activities entail wants and needs separation depending on the response being read. The Droid response, Neutrogena and Taster’s choice were all interpreted as “important to every consumer.” Due to advertisements and subsistent need of being satisfied with what the product is publicizing itself, it is bought, consumed and integrated as part of the daily routine of a consumer’s life. While “Essentials of Marketing” response is what would be defined “important to your job” because it is the knowledge that you need in order to have at least a background on pursuing the said career.
For Q&P # 4, it describes the facilitation of production and consumption. On the consumption factor, it is the separation of time while on the production factor, it is the discrepancies of quantity. The forecast on its sales does not meet the unexpected surge and popularity of the said binder. Therefore, to be an effective marketer, you should be able to foresee sales and assess the popularity of the product once it came out of the market so that necessary measures could be done in case production needs to work on more consumption.
For Q&P # 7, the main aim of effective marketing is to satisfy the customers/consumers of your product or services. Basically, as technology advances in this modernized world, there will always be a hold back as to the general public on seeing first the product or service to be done before they accept it as an end to your marketed effort.
For Q&P # 13, profit makes the company/entrepreneur go on. Without profit, there would be no more future innovation and answer to more demanding needs of the consuming world.
Internet Exercise # 1. While delivering a high-quality product, marketers should keep in mind that the products they are offering should meet required government and legal standards or mandates that would that would secure the safety of the said product. Bear in mind that the cost of legal litigation when it comes to product failure would not only cost a lot but also the integrity of the company itself.
Internet Exercise # 2. Marketing is not just about how great or innovative your product or service is, but most importantly, would the consumer be able to afford it in the place or area you are trying to market it. Differences among area, net after tax and other deduction income, purchasing power and other economic factors come into play on determining whether it would be feasible for the consumers to afford it.
The response would be, it is the consumers right to any claimable warranty that was covered on the agreement, Then in case the warranty was not availed, there lies the gray line between after sale customer service and retaining them as long as possible to still continue patronize the product. If the cost of the warranty is more than the cost of every customer complaint after using the product, then that should be noted by the store manager then as they said, bundle it with other products thus extending warranty on other products as well.
Chick-fil-A’s 4 P’s is well conceptualized and could sustain the company itself in the long run. Aggressive promotion while continuous feasible expansion, retaining the apt customer relation strategy and maintaining product quality and reasonable price is a big plus already.
The marketing strategy employed by Chick-fil-A is encompassed to stay long in the business and not diminish over time due to stagnancy and being lax on the emerging competition.
Family being a focal target to position the company is a tried and tested formula as younger customers are being accustomed to the product, the more it would be ingrained on their preferences.
Sunday closing is beneficial in a sense that despite not being able to have the expected sales the company want, it is the employees that are given morale to continue serving the company.
Application Exercise for Assignment # 10
2. Product Class: Homogeneous Shopping Products
“Ideal” Market Exposure: Selective Distribution
Why? : JRP should focus then on strategizing on the willing
wholesalers for the paper towel while still continuing the existing
partnership with other flagships. Thus, upon its slow entry to select
market, it would be expected to flourish in no time.
3. Product Class: Heterogeneous specialty Products
“Ideal” Market Exposure: Exclusive Distribution
Why? : Exclusive distribution is a better option given the
requirement for its distribution. It can focus on the area it where a
retailer agreed on its term and push the marketing effort for it to be
more desired by prospective buyers.
4. Product Class: Homogeneous convenience Products
“Ideal” Market Exposure: Intensive Distribution
Why? : It can compete with other products directly
as it can be bought more by many users seeking for low-priced
cabinets. Also, consumers would make instant choicer to purchase
it due to low cost.
5. Product Class: Homogeneous specialty Products
“Ideal” Market Exposure: Intensive Distribution
Why? : Cost is the downgrading factor why it should be
sold whenever there is a need for it. As more are offering
competitive prices, it should be taken into consideration to
adjust and get ahead of the competition.
6. Product Class: Heterogeneous specialty Products
“Ideal” Market Exposure: Intensive Distribution
Why? : Expansion is the answer for this product to
be able to sell more. Since, customers are positive on buying at
the first sight of it, it would surely materialize in the long run.
