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Assistance with Marketing review questions

1. Marketers recognize that the marketing of services is different than the marketing of a product because of the different characteristics that distinguish them from physical products. How do marketers communicate the value of services to consumers? How do they make these intangible services appear tangible to the consumer? What are some marketing strategies that might be employed with services to ensure positive results? In your answer, provide an example of a service to which your strategies would be utilized.

2. Your company is about to introduce a new product that will increase the fuel mileage on ANY gasoline-powered car by 25%. This is a genuine product that REALLY works and has received endorsements left and right as a tool to help America become less dependent on foreign oil. Utilizing the micropulverization capabilities of electronic frequency distribution, the GasEnhance device will take an automobile that gets 28 mpg and allow it to get 25% more mileage; that is, 35mpg. It REALLY works! Your cost to manufacture this product is $115.00 and installation (which is easy) requires about one hour, or about $60 for labor. What Kotler pricing strategy will you use, knowing that your competition has a similar product that will likely use a slightly different technology and that will be out in 120 days? Rumor has it that their product will provide 35% more mileage.

3. Edward Adams is the new sales manager for Wolfe Corporation. He has just come aboard to head up a sales force of seventy sales professionals, all of whom possess at least a Bachelors degree, many of whom have Masters Degrees. Mr. Adams' sales reps sell highly complex instrumentation systems that are used to analyze a variety of different materials in laboratory environments. The instruments, sixteen in total, are used to analyze gases, liquids, and blood. Each product is very technical and customers expect their Wolfe sales rep to be very knowledgeable about the technical applications and analysis requirements of their laboratories. Each sales professional covers an assigned territory, which usually comprises one to two states depending upon the geographic area and amount of industry. The sales team has been divided into twelve teams around the country, with each team having its own sales manager and five to nine sales reps, all of whom call on a variety of customers. Sales teams operate out of the same office, located in a major metropolitan area (e.g., Boston, Dallas, San Francisco, Atlanta, etc). Sales rep turnover has been about 15% annually the past few years, and Mr. Adams sees it as imperative that he do something about this. Annual sales have been averaging a 3-5% increase each year over the past five years, but the corporate president wants more. Your competition has been averaging 6-8% sales growth increases in revenue each year.Analyze the sales force structure. What is the current sales force strategy that is being used? What might be the
limitations of the current sales force structure? What changes, if any, would you suggest that Mr. Adams consider making to the sales force structure to effect increased sales?

4. Designing a marketing channel system requires analyzing customer needs, establishing channel objectives, and identifying and evaluating major channel alternatives. It is important to understand what the customer expects channels of distribution or channel members will provide them. Consumers desire certain key service outputs: lot size, waiting and delivery time, spatial convenience, product variety, and service backup. How does each of these affect the design of the marketing channel?

5. Describe the supply chain strategy using demand chain planning. By looking at the company as the center of a value network, how will this approach enable the company to be more financially efficient?

6. With the memory of the many companies showing poor judgment and poor ethics, such as B&P, Toyota, Enron, WorldCom, Arthur Andersen, and others fresh in your mind, you have been asked to advise your company's CEO on to how to minimize the risk of a similar event occurring at your company. Specifically, what recommendations would you make to your CEO that would minimize unethical business and marketing practices by your employees, such as those alleged to have occurred at these and other companies?

7. You are the media planner for an advertising agency, responsible for the placement of your client's ads in various media. Your client's product is a "smart" robotic lawnmower (Robo-mower) that one can easily "program" to cut a home lawn. Robo-mower will only cut grass within its programmed area and it will avoid flower beds, rocks, sidewalks, etc., while you sit in the hammock, enjoying the summer! An emergency "cut-off" switch brings it to a full stop in one-quarter of a second. Select four (4) advertising media that you would consider for an ad placement and indicate THREE (3) advantages and THREE (3) disadvantages of those that you select for advertising the Robo-mower. Failure to provide all of the requested information will result in a loss of points.

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Here you go. Please let me know if you have any questions or concerns. I want you to be very happy. Good luck!

1. Marketers recognize that the marketing of services is different than the marketing of a product because of the different characteristics that distinguish them from physical products. How do marketers communicate the value of services to consumers? How do they make these intangible services appear tangible to the consumer? What are some marketing strategies that might be employed with services to ensure positive results? In your answer, provide an example of a service to which your strategies would be utilized.

Marketers communicate the value of service to customers by identifying the major attributes of the service and communicating these to the customer. For instance, perhaps a company wishes to sell carpet cleaning. The company would focus on service by stressing the quality of the carpet cleaning crew and back it up with satisfied customer reviews. It might communicate service by stressing a variety of services, years in business, a quality guarantee, or price value. To make these intangible strategies appear tangible, the company can assign value to them: guaranteeing satisfaction with a money back guarantee, giving a quantifiable number of years in business, and using customer testimonials are each marketing strategies that might be utilized.
Another example of service marketing would be in-home appliance repair. A company can guarantee a service person within a certain, small window of time, or better yet at a specific appointment time to enhance customer satisfaction. The repair visit can be enacted by someone in uniform, displaying company identification, with a clean appearance and courteous manner, which is mindful of the homeowner's time and house. Next, the service can be reasonably priced and guaranteed. Customers can be encouraged to fill out feedback surveys, and given a coupon for referring friends and family. Each of these items enhances customer service, which will encourage customer referral: good word of mouth from customers is the best marketing possible!

2. Your company is about to introduce a new product that will increase the fuel mileage on ANY gasoline-powered car by 25%. This is a genuine product that REALLY works and has received endorsements left and right as a tool to help America become less dependent on foreign oil. Utilizing the micropulverization capabilities of electronic frequency distribution, the GasEnhance device will take an automobile that gets 28 mpg and allow it to get 25% more mileage; that is, 35mpg. It REALLY works! Your cost to manufacture this product is $115.00 and installation (which is easy) requires about one hour, or about $60 for labor. What Kotler pricing strategy will you use, knowing that your competition has a similar product that will likely use a slightly different technology and that will be out in 120 days? Rumor has it that their product will provide 35% more mileage.

Based on this information I would recommend penetration pricing, charging a low price upon entering the market to capture market share. I chose this method since a competitor has a similar product coming out in 120 days. Kotler identified price quality strategy, and the GasEnhance product is a high quality product that truly works (25 ...

Solution Summary

This detailed solution answers multiple marketing review questions:
1. Marketers recognize marketing of services is different than the marketing of a product. How do marketers communicate the value of services? How do they make these services are communicated to consumers? What are some marketing strategies? An example is provided.
2. A scenario is provided in which your company is about to introduce a new product that will increase the fuel mileage on ANY gasoline-powered car by 25%.The solution discusses what Kotler pricing strategy to use, knowing that your competition has a similar product with better technology.
3. Edward Adams is the new sales manager for Wolfe Corporation.You must determine what the current sales force strategy that is being used and what are the limitations of the current sales force structure. It suggests changes to the sales force structure that might increase sales.
4. Designing a marketing channel system requires analyzing customer needs, establishing channel objectives, and identifying and evaluating major channel alternatives. It is important to understand what the customer expects channels of distribution or channel members will provide them. Consumers desire certain key service outputs: lot size, waiting and delivery time, spatial convenience, product variety, and service backup. How does each of these affect the design of the marketing channel?
5. Describe the supply chain strategy using demand chain planning. It describes how a company can become more financially efficient by looking at the company as the center of a value network.
6. How to minimize the risk of a poor judgement and shady ethics occurring at your company. It offers recommendations you could make to your CEO that would minimize unethical business and marketing practices by your employees, such as those alleged to have occurred at other companies?
7. Media suggestions for a smart robotic lawnmower. Includes four (4) advertising media that you would consider for an ad placement and indicate THREE (3) advantages and THREE (3) disadvantages of those that you select for advertising the Robo-mower.

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