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Marketing Mix, Segmenting, LifeCycle and Market Research

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1. Discuss the marketing mix of an organization with which you are familiar. Be sure to discuss how the elements of the mix are interdependent.

2. Provide an example of a product that has traveled the entire course of the product lifecycle. Discuss the evidence displayed at each stage.

3. Choose an example of market segmentation. Discuss the criteria used to segment the market and the strategies used to appeal to the segment.

4. Discuss the importance of research. What types of information is critical to marketing, discuss methods used for research.

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1. Discuss the marketing mix of an organization with which you are familiar. Be sure to discuss how the elements of the mix are interdependent.

Introduction
Big Denali Developments is a for profit start-up software company with three software products in its product line. These consist of Keenai Pro, an online collaboration software which tracks projects in real time; Keenai Train, a web based training software which can be delivered to anyone with an internet or intranet connection; and Keenai Library , a desktop application which allows the cataloging and categorization of electronic files. Keenai Pro is currently in its beta testing phase and the other two products are still under development.

The Marketing Mix for Big Denali Developments
Since BDD's business goals have been established, the next step is to work with a reliable search engine marketer or search engine optimization company. This type of company specializes in the technology that creates traffic and positions products. Correct search engine optimization can help determine the right mix for BDD as it concerns the following (Wehr, 2004):

Product
The ability to easily find BDD products on the internet can be a value-added service for BDD's potential clients. They can buy BDD software regardless of the time of day or night, location or even the weather, if BDD's products immediately show up in the first few search results pages of the client's chosen search engine, which is most probably Google, MSN, AOL or Yahoo. The sale of BDD's products and services can rapidly increase based on how convenient it is for BDD's clients to research, inquire and ultimately make a purchase. Some points to consider are how fast can BDD's potential clients find the software? Can they learn more about those products or services and buy them from BDD's website instantaneously? Is the buying process a safe and simple procedure (Wehr, 2004)? BDD currently does not have any e-commerce capability on its website. It is a feature that will need to be added to the company's website as soon as possible.
If, on the other hand, BDD's products and services do not promptly appear within the first few pages of a keyword search, they effectively do not exist to its potential clients and will certainly not be purchased. A successful search optimization campaign, however, will allow small businesses like BDD to sell in a virtually level playing field. BDD can also enhance its visibility with pay-per-click advertising through Google, Yahoo and other search engines (Wehr, 2004).

Place
A brick and mortar software company can sell its products from a physical building in a business complex, or a space in a strip mall. When a client walks into a software store, he or she can almost immediately discover whether there is any training software in the store by looking for signs and marked packages?but he or she may not be able to do the same at an online software store. The online client can find out if the online software seller has any training software by using a keyword search . If BDD's website does not contain the keywords its potential clients use to find training software, it is highly unlikely they will buy their desired training software from BDD. With diligent search engine optimization, BDD can put its products and services where potential clients can easily find them, similar to a software retailer putting ...

Solution Summary

This is a discussion of marketing mix, segmenting, life cycle and market research for a start-up software company.

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Multiple choice questions on Marketing

1. A ______________ might consist of a fast food item, a gourmet meal from a four-star restaurant, frozen pizza, a steak cooked at home, and a Slim-Fast® Optima Shake.
_____ a. product market
_____ b. generic market
_____ c. target market
_____ d. marketing mix
_____ e. segmented market

2. Positioning refers to how a company's marketing department thinks about proposed or present
brands in a market.

_______True _______ False

3. The following are all major stages of a product life cycle except:
_____ a. Sales decline
_____ b. Market maturity
_____ c. Market Introduction
_____ d. Market Implementation
_____ e. Market Growth

4. Five levels of brand familiarity useful for strategy planning are:
_____ a. generic, store-brand, national, regional and local
_____ b. non-recognition, low recognition, moderate recognition, complete familiarity, and
recognition by another name (e.g., store brand).
_____ c. non-acceptance, acceptance, requested, logo-recognized, and generic preferred.
_____ d. rejection, substituted, non-recognition, acceptance and preference.
_____ e. rejection, non-recognition, recognition, preference, and insistence.

5. The correct steps in the new product development process are:
_____ a. Idea generation, screening, idea evaluation, development, and commercialization
_____ b. Idea creation, market research and development, and introduction of product
_____ c. Product positioning, idea screening, evaluation, and commercialization
_____ d. Idea screening, idea development, marketing research, and commercialization
_____ e. Defining the product attributes, defining the positioning strategy, market research, and
commercialization

6 . According to Kotler, _________are the easiest marketing-mix element to adjust.
_____ a. promotions
_____ b. distribution channels
_____ c. product features
_____ d. prices
_____ e. sales tactics

7. Convenience products usually have intensive distribution because sales of these products tend to have a direct relationship to availability.

_______True _______ False

8. Ideally, "good market segments meet the following criteria:

_____ a. Single market, unique, screening, idea evaluation, and segmented
_____ b. Competitive, homogeneous, diversified, and penetrated
_____ c. Homogeneous, heterogeneous, geographic, and penetrated
_____ d. Homogeneous, heterogeneous, substantial, and operational
_____ e. Substantial, multiple target, operational, and homogeneous

9. A key objective of marketing is to:
_____ a. Offer the right product at the right price
_____ b. Find a break though opportunities
_____ c. Satisfy the needs of some group of customers that the firm serves
_____ d. Develop a competitive advantage
_____ e. Offer new or improved products

10. Quality and satisfaction depend on:

_____ a. The total product offering
_____ b. The need satisfying offering of a firm
_____ c. The service offering
_____ d. A product assortment
_____ e. A product line

11. Decisions regarding price are important because it affects both:

_____ a. Flexibility and company earnings
_____ b. The number of sales a firm makes and company earnings
_____ c. Product life cycle and discounts
_____ d. Discounts and company earnings
_____ e. Transportation cost and company earnings

12. Pricing objectives include all except:

_____ a. Target return
_____ b. Maximize profits
_____ c. Temporary discounts
_____ d. Dollar or unit sales growth and market share growth
_____ e. Meeting competition

13. Break even analysis is a pricing solution that evaluate whether the firm will be able to break even.
_______True _______ False

14. An example of a properly trademarked name is:
____ a. Coca-Cola
_____b. Nescafé® coffee
_____c. Dunkin' Donuts
_____d. tic tacs®

15. The four unique elements to services include:

_____ a. Independence, intangibility, inventory, and inception
_____ b. Independence, increase, inventory, and intangibility
_____ c. Intangibility, inconsistency, inseparability, and inventory
_____ d. Intangibility, independence, inseparability, and inventory
_____ e. Interdependence, inventory, inseparability, and increase

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