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- 40 Select ALL the tools that are used when conducting an industry analysis. SWOT Analysis Porter's 5 Forces PESTEL Analysis Scenario Analysis6) Briefly describe the three key points managers must consider when using expert opinion, consumer surveys, test marketing, and price experiments in analyzing consumer behavior.Are these Dogs, Stars, Question mark or Cash Cows? Why? BNSF Duracell Fruit of the Loom Garan Incorporated Justin Brands Richline Group See's Candies Ben Bridge Jeweler Berkshire Hathaway Energy Company Nebraska Furniture Mart Lubrizol Corporation BoatU.S. Marmon Holdings, Inc. Borsheims Fine Jewelry McLane Company Brooks MedPro Group Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.
- Elaborate how would each of the above factors enhance usefulness of Information to managers in making decision in innovative (a) problem solving ; (b) New product creation, leading to new market development .Consumer decision is a careful evaluation of the attributes of a set of products, brands, or services and rationally selecting the one that solves a clearly recognized need for the least cost. a) Discuss the four views of Consumer Decision Making (an economic view; a passive view; a cognitive view and an emotional view); b) Discuss Consumer Decision Making Process in detail.1.Discuss the differences between the absolute threshold and differential threshold. Which one is more important to marketers?
- Consumer Decision Making Process: 1. Problem Recognition 2. Information Search 3. Alternative Evaluation 4. Outlet Selection and Purchase 5. Post Purchase Processes Use the purchase of eggs and describe actions one would take at each stage of the consumer decision-making process above, in detail. Would one skip any of these stages? Which stage is most important for marketers? Does this depend on which product is being marketed?Module: Marketing Strategies; 1. Discuss how the demographic and lifestyle variables can be used to segment the consumer market using Living Standards Measure Methods.1.You are a new brand manager for a product line of Coach purses. You are considering the purchaseof customer data from a company that sells a large variety of women’s products online. In additionto the name, mailing address, and e-mail address of customers, the data provides an approximateestimate of customers’ annual income based on the zip code in which they live, census data, andthe highest level of education achieved. You could use the estimate of annual income to identifylikely purchasers of your high-end purses and use e-mail addresses to send e-mails announcing thenew product line and touting its many features. List the advantages and disadvantages of such amarketing strategy. Would you recommend this means of promotion in this instance? Why or whynot? 2. When asked about Google releasing personal information to law enforcement agencies, Google’sCEO Eric Schmidt told CNBC: “If you have something that you don’t want anyone to know, maybeyou shouldn’t be doing it in the first…
- Market segmentation and product positioning in consumer markets are extremely important concepts for marketers to address. One of the big questions to address is what attributes should end up in the final positioning model(s). Furthermore, there are questions of whether the attributes should be of utilitarian or more hedonistic/psychographic in nature. Clearly there is also a place for creativity in these regards. Discuss how marketing management should go about making these critical product/brand positioning decisions. After some discussion, present an example of a creative perceptual map that Burger King could use to position and differentiate its brand from others like McDonald’s, Kentucky Fried chicken, and other fast food restaurants.Q6a) Why are more and more firms using non-financial control measures in addition tothe traditional financial-based measures? What are some of the more commonlyused non-financial measures in assessing marketing performance? b) You have been appointed as a marketing manager for Tumfwane enterpriseslimited based in Mufulira in the Copperbelt that offers hospitality services to themarket. You managing Director wants to know the consumer buying decisionprocess. Write a memo to her using an appropriate diagram to explain the buyingdecision process of a consumer? c) The president of a large manufacturer of household appliances that aremanufactured and sold in Zambia, has asked you to develop a system formonitoring and evaluating the impact of major environmental trends in thiscompany’s strategies and programmes. Briefly describe your proposed system interms of how you would organize your scanning activities, and evaluate the impactof each(d) Stouffer’s foods holds a commanding share of the…3. Discusses how these groups will be targeted (once identified), by explaining three (3) digital marketing options such as email, voice, text, app alert, app redemption token, etc. The report should be in MS Word format (or equivalent). For the purpose of this assessment, the following assumptions apply: ●95% of sales are electronic (credit card/phone), 5% are cash; ●55% of customers use a loyalty card at time of transaction; ●customers who have a loyalty card have provided credit card/phone/email details; and ●Imagine P/L has a smartphone app, which supports tokens (price discounts, etc) and alerts. 25% of customers have downloaded and use the app. Report Structure Your report should include the following sections: ●Introduction: Briefly explaining the purpose of the report ●Technology Options: Where you describe each type of technology ●Sales Solution: Where you explain how the options will increase sales ●Marketing Channels: Where you discuss how to reach customers…